Officials from the International Monetary Fund, which made funds available for Cyprus’ bailout programme, said the island’s economy made “impressive policy achievements” over the past three years.

Plans to build a 30-storey building on the outskirts of Limassol have been given the green light from the Department of Environment, according to media reports.

DVB Bank has acquired just under half of Celestyal Cruises Ltd’s share capital following a loan restructuring agreement between the Bank and Louis Plc on 11 March 2016.

Agriculture Minister Nicos Kouyialis is set to lock in additional EU support for the local citrus trees sector and agriculture in general in Brussels, as a countermeasure to the EU embargo imposed on Russia and the problem of drought.

President Nicos Anastasiades has expressed his government's determination to protect and further develop the island's shipping sector.

The trade deficit was €3.375,4m in January-December 2015 compared to €3.701,5m in the corresponding period of 2014, according to data released by the Statistical Service of Cyprus.

After Cyprus’ ‘clean’ exit from the bailout programme, the government is now looking to secure a ‘clean’ post-bailout entry into the financial markets.

Cyprus can hope that economic growth will match the Finance Ministry’s 2% forecast in 2016 provided the government remains on its reform course, a business group official and an economist agreed.

Cobalt air will be flying to 16 cities from Larnaca when it begins operations, while the first of its three Airbuses will arrive within the next few days, chairman Grigoris Diakou said recently.

The House recently gave the nod to regulations governing the establishment and operation of an integrated casino resort, paving the way for the government to start negotiations with companies shortlisted for the lucrative licence.