189 small and medium-sized enterprises from 26 countries (four of them from Cyprus) have been chosen by the European Commission to participate in the SME Instrument programme Horizon 2020.

Cyprus and Russia further enhanced their business commitments to one another with the opening of a Russian Desk by the Cyprus Russian Business Association (CyRuBA).

Speaking on RIK radio ahead of the signing of the port contracts, Minister of Transport Marios Demetriades called the privatisation of port services a ‘very important deal’ which will benefit the government and the economy.

Rating Agencies remarks should be carefully recorded as they map out the framework of moves Cyprus should take towards restoring confidence in the country, Minister of Finance Harris Georgiades said in a written statement.

The agreement between the government and the investors who will take over the operation of the Limassol port will be signed on April 25 2016, Transport Minister Marios Demetriades said recently.

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.