With more airlines flying into and out of the island, outbound tourism in Cyprus is changing, with direct flights to 49 destinations from Larnaca and an additional 27 from Paphos.

The retail trade volume excluding motor vehicles in the first two months of the year rose 5.1% compared with the respective period in 2015, after it rose a preliminary 8.6% in January, the statistical service said.

Low-cost airline Blue Air will be flying from Larnaca to London’s Luton airport from April 25 2016.

Fitch Ratings has affirmed Cyprus’ long-term credit rating at B+ with a positive outlook, even as risks continue to weigh on the country’s credit profile, the agency said recently.

Loan restructurings went ahead at a slow and steady pace to reach a total of €7.76 billion by the end of 2015 according to the Central Bank of Cyprus.

Officials from budget airline RyanAir have been in Paphos to look at newavenues of co-operation with the town.

Paphos, as the mythical birthplace of the goddess of love, is increasingly becoming a popular destination for civil weddings, municipalities and tourist agencies said recently.

US firms are keen to invest in renewable energy sources in Cyprus, former secretary of state Madeleine Albright said in Nicosia recently.

Bank of Cyprus (BOC) Emergency Liquidity Assistance (ELA) was reduced by €100 million in March 2016, to €3.3 billion.

Cyprus recorded a zero budget deficit in 2015 according to the latest figures from the Statistical Service, Cystat.