Cyprus' Cooperative Central Bank (CCB) reported a net profit of €60.6 mln during Q4 2015, reducing thus the impact from losses incurred due to increased requirements by the Single Supervisory Mechanism (SSM), from €228 mln at the end of Q3 to €167.4 mln throughout the year.

Cypriot hopes that the some of ENI’s massive natural gas find offshore Egypt in August 2015 might have crossed into the Cyprus Exclusive Economic Zone (EEZ) were dashed when the Italian oil and gas major made it clear that the gas was all on the Egyptian side.

The Industrial Turnover Index for November 2015 reached 71,9 units (base 2010=100), recording an increase of 3,9% compared to November 2014.

Cyprus has shortlisted three bidders who will compete in the final phase to open the first casino on the eastern Mediterranean island, local media have reported.

Central Bank of Cyprus and European Central Bank (ECB) Board member Chrystalla Georgadji has said she is optimistic about the course of both the Cypriot economy and the banking system, as the island edges closer to its exit from its three-year economic adjustment programme, which expires in March 2016.

The UN has informed the two community leaders on the island that both the IMF and the World Bank are calling for a single economy for Cyprus in the event of a solution.

Revenue from tourism marked a rise of 4.4% in 2015, according to Cyprus Statistical Service figures released recently.

The Cyprus Property Price Index RICS has recorded falls in most cities and asset classes in the fourth quarter of 2015, though the rate of decrease is less than previous quarters.

Hellenic Bank reported a small post-tax profit for 2015 of €13m in 2015 – a turnaround from the loss of €117.6m posted in 2014.

The Bank of Cyprus has reported €438 million losses for 2015, according to the Group's preliminary financial results for the year.