The Cyprus Statistical Service announced that the number of building permits authorised by the municipal authorities and the district administration offices during June 2016 stood at 455.

GRS Recruitment and GRS Group company Fairfax Yeaman are pleased to announce that they have successfully relocated to larger premises in Limassol, Cyprus with a team of 20 staff members working under the leadership of GRS founders, Donna Stephenson and Steve Slocombe.

The value of transactions carried out in Cyprus with the use of Cypriot cards rose an annual 7% in August 2016, to €190.9m, payment processing company JCC Payment Systems Ltd said.

Cyprus’ harmonised consumer price index fell 0.6% in August 2016, compared to the respective month of 2015, as energy prices continued to drop, the statistical service said.

The head of the retail banking division at Bank of Cyprus, Ηaris Pouangare, said that its non-performing loan rate has dropped to one-third of the respective portfolio.

Cyprus’ economy was the third fastest growing in the euro area, with a quarterly rate of 0.7% in Q2 2016, in which the euro area’s economy grew 0.3%, the EU's statistical division said.

Indirect Tax Update: VAT on Digital Services

Retail trade increased in Cyprus by 1.4% in June 2016 compared to May 2016 and by 5.6% on an annual basis.

The number of registered unemployed fell in August 2016 to 35,786 or 13% compared to the respective month of 2015 mainly on a drop in jobless in the construction sector, the statistical service said.

The number of real estate exchanges in August 2016 rose an annual 50%, the best-performing since 2011, on a strong increase in the number of transactions reported from almost all districts and increased external demand.