While the recovering economy is supporting loan recoveries and depositor confidence, Bank of Cyprus’ and Hellenic Bank’s extremely weak loan quality will only gradually improve in 2016, Moody’s Investors Service said recently.

Cyprus is well-positioned to play a key role in the European Union’s drive for energy security although several factors must coalesce for that to happen, foreign Minister Ioannis Kasoulides told MPs recently.

Forty years ago, when Cyprus’ economy was still crippled by the 1974 Turkish invasion, and a large portion of its population was displaced, unemployed and lacked the basics, a doctor in Limassol came up with the idea to set up a company to produce pharmaceuticals.

The financial results of Vassiliko Cement Works are expected to show a significant improvement for the year 2015 compared to the financial results of 2014, according to an official announcement by the company recently.

The business environment registered significant improvement in Cyprus in 2015, according to the World Bank’s 'Doing Business Report 2016'.

China’s Cosco and DP World of Dubai are among the 14 companies that submitted bids for the commercialisation of Limassol port this week, government sources have told the press.

The International Monetary Fund is making about €126.3 million euros available for disbursement to Cyprus after completing its review of the island’s economic adjustment program, the Fund said in a statement.

Larnaca has been given the thumbs-up by the highly influential UK publication ‘Travel Weekly’, which tipped it as an emerging resort with its fortunes on the rise.

During his visit to Cyprus, Maros Sefcovic, EU Vice-President and Commissioner for Energy, stressed the importance of Cyprus to the EU’s energy union strategy and said that gas discoveries in Egypt, Israel and Cyprus are very promising.

Industrial Turnover Index recorded a decrease of 0.6% in October 2015 compared to October 2014.