Initial financial reports for Q1 2016 at Bank of Cyprus are positive, showing a €1b decrease of non-performing loans (NPLs), along with a €50 million profit.

The European Commission (EC) expects growth to maintain momentum in Cyprus in the course of 2016 and 2017 at 1.6% and 2.0% respectively.

Local authorities in Cyprus are increasing their efforts for carbon emissions reduction and energy transition based on new European programmes, the results of which were presented and discussed among other topics in a three-day congress earlier in May in Nicosia.

The turnover of retail trade increased in the first two months of 2016, the Statistical Service announced recently.

Unemployment in Cyprus decreased to 12.1% in March 2016, the largest decrease in any EU member state on an annual basis (from 16.2%), according to Eurostat.

Revenues from the Cypriot ship management industry in the second half of 2015 amounted to €462 million, marking a marginal decline of €2 million or 0.43%, compared with €464 in the first half of the same year, according to the the latest Central Bank of Cyprus' ship-management survey.

In a recent article I questioned the suggestion that the cost of a united Cyprus property settlement would be €30 billion and promised to explain how I get it down to less than €5bn.

On 9 October 2015, the General Partnerships Law was amended by Law 114(I)/2015. The amending statute introduced for the first time in Cyprus law the concept of a limited liability partnership with share capital (“Cyprus Limited Liability Partnership”) or (“LLP”).

Deposits in the Cypriot banking system in March 2016 reached €45.7 billion recording a net outflow of €95.5 million, figures released recently by the Central Bank of Cyprus show.

Relations between Cyprus and Russia remain of strategic importance, Minister of Finance Harris Georgiades said, addressing the business forum 'Russia and Cyprus: lessons from the crisis and prospects for cooperation' that took place in Moscow.