Registered unemployed in Cyprus fell to the lowest level in 34 months on the basis of seasonally adjusted data released by the Cyprus Statistical Service.

Seasonally adjusted GDP rose in Cyprus by 0.4% during Q4 of 2015 compared to the previous quarter and by 2.7% compared to the same quarter of 2014, according to data released recently by Eurostat.

Members of the public will have until the end of April 2016 to submit proposals on developments for the Larnaca seafront where strategic oil reserves were stored until they were transferred to Vasilikos.

Confident of better ratings and cheaper funding as it exits a eurozone bailout, Cyprus is wary of planning new borrowing to help fund any reunification and may not need it, Finance Minister Harris Georgiades said.

Cyprus might soon be excluded from the European Central Bank’s bond-buying programme because its credit rating is below investment grade and it is likely to exit its bailout programme at the end of March 2016, an ECB spokesman said recently.

A subsidiary of the Russian airline Siberia 7 is set to open in Cyprus by the end of 2016, according to news reports.

The strong increase in property transactions reported recently by the department of lands and surveys is the result of tax breaks offered to buyers as well as special incentives to foreign purchasers, professionals said.

Eurogroup Finance Ministers are soon expected to seal the completion of Cyprus’ adjustment programme, three years after its chaotic bailout in 2013.

Projects worth more than €300 million will be carried out for 2016–2018, Transport Minister Marios Demetriades said recently.

Three years after the financial crisis and as Cyprus is due to exit its bailout programme, the banking sector has shed 2,000, or 20% of its employees, plus 25% of branches.