The Cyprus economy will grow at a rate of 2.2% of GDP in 2016, the Ministry of Finance predicts.

More and more Russians are set to flock to the island in the summer of 2016, leading the way for smaller markets to follow suit.

A Cyprus-based programme has been shortlisted as one of the nine best and successful candidates in a European competition for the promotion of safe, clean and efficient energy.

Cyprus can expect GDP growth of 2% says the European Bank for Reconstruction and Development (EBRD).

The number of new company registrations rose in April by 17% to 1,029 compared to the respective month of 2015, the department of company registrar and official receiver said recently.

Italy’s national airline Alitalia will begin flights to Cyprus after a six-year absence, while Greek company Ellinair has officially arrived in Cyprus aiming to directly connect Europe with Russia.

The Cyprus Securities and Exchange Commission announced recently that it will promote amendments to the legal framework governing collective investments, a move that would boost the Cyprus investment fund sector, CySEC Chairwoman Demetra Kalogirou said.

The Cyprus Chamber of Commerce andIndustry(CCCI) and the Cyprus-China Business Association signed a cooperation agreement with the China-UK Business Association and the China-Britain Business Council, aiming to promote Cyprus as an international investment and business centre.

The latest figures for the EU-harmonised consumer price index (HICP) confirm the deflationary trend in Cyprus, with prices measured by the HICP dropping year on year by 2.1% in April 2016 after a decline of 2.2% in March according to the Statistical Service, Cystat.

Holders of Cypriot cards used plastic money for purchases in Cyprus worth €189m in April 2016 and €764m in the first four months of 2016, which was 14% and 7% higher compared to the respective periods of 2015, JCC Payment Systems said recently.