Cyprus' taxpayers are set to pay a significantly reduced property tax in 2016 with discounts of up to 75% from last year’s levy.

The general government debt of Cyprus reached €19bn at the end of June 2016, according to the latest newsletter of the Public Debt Management Office (PDMO).

The government bought back four series of Republic of Cyprus bonds that mature in 2020 and 2021, paying €236,324,017.33, the Public Debt Management Office (PDMO) of the Ministry of Finance has announced.

US Special Envoy for International Energy Affairs (S/CIEA) Bureau of Energy Resources, Amos Hochstein, conveyed US support of Cyprus' right to develop its offshore natural resources.

Italian Foreign Minister Paolo Gentiloni was in Cyprus recently for a meeting with his Cypriot counterpart Ioannis Kasoulides where they discussed the Cyprus issue, energy, Brexit, terrorism, migration and Turkey.

The Cyprus Statistical Service issued a report outlining the developments in external trade for June 2016.

President of Cyprus Nicos Anastasiades stressed recently that the Government is making efforts to strengthen the country’s competitiveness and its attractiveness as an international business and investment destination and noted that improving the business environment is a top priority.

The number of company registrations in Cyprus rose in August 2016 by 43% to 1,012 compared to the respective month of 2015, which is highest figure reported in the month of August since 2012, the company registrar department said.

Cyprus expects to see an additional 500,000 tourist arrivals in 2016, according to forecasts, Tourism Minister Giorgos Lakkotrypis said recently.

Cyprus’ economy expanded 2.9% year-on-year in Q2 and a seasonally adjusted 2.7%, the statistical service said citing revised figures which confirmed an August 12, 2016 flash estimate.