Cyprus has the basic ingredients to become a competitive and credible centre for the global Funds Industry, Minister of Finance Harris Georgiades told the International Fund Summit that took place in Limassol recently.

Manufacturing output is up year-on-year in March 2016 according to the Cyprus statistical service in an announcement recently.

The Public Debt Management Office, a division of the Finance Ministry, said that it sold 13-week treasury bills worth €130.7m at an average yield of 0.89%, which is slightly above that of the last auction.

The economic sentiment indicator fell in May 2016 by 2.4 points in a month to 109.5 as consumer confidence and business confidence in all areas except manufacturing and retail trade deteriorated, the University of Cyprus said.

The European Union’s annual bathing water report recently listed Cyprus as having the most ‘excellent’ beaches for swimming amongst all the member states.

Cyprus will not be needing to take additional fiscal measures in the next two years, Minister of Finance Harris Georgiades told an economic forum that took place in Nicosia recently.

Thomas Cook has recommended Ayia Thekla beach, in the village of Sotira, in the Famagusta district, as the perfect place to hold civil weddings, in the summer 2016 edition of its Travel magazine.

Central Bank of Cyprus governor Chrystalla Georghadji said that the International Monetary Fund is drafting the legislative framework for the reorganisation of the supervisory authority’s structure, the Cyprus News Agency reported recently.

Cyprus expects a third offshore natural gas licensing round in the eastern Mediterranean to be concluded early next year, despite opposition from Turkey, Energy Minister George Lakkotrypis says.

The number of property transactions rose 35% in April 2016, compared with the respective month of 2015, boosted mainly by sales in Limassol and Larnaca and external demand.