Minister of Transport, Communication and Works Marios Demetriades will participate in a two–day event in Hamburg, Germany, on the 26th and 27th of January, in the framework of the government`s strategy to attract new registration of vessels in the Cypriot ship registry and investments by new shipping companies.

Cyprus is completing its reform programme agreed with the European Stability Mechanism and the International Monetary Fund in March 2016, having utilised less than €8b out of the €10b available to it in bailout money.

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.