A year free from the obligations of the economic adjustment programme, 2016 will nevertheless bring several financial challenges, primarily in terms of Cyta’s privatisation and the last instalment of some €400 million from Cyprus’ international lenders.

Cyprus and Jordan announced recently the activation of technical committees to discuss the details of possible cooperation in the gas sector.

Cyprus saw a record number of tourist arrivals during the summer 0f 2015, deputy general director of the Cyprus Tourist Organisation, Annita Demetriades, said recently.

The government has forwarded to the troika its draft proposal regarding the legal unbundling of the Electricity Authority of Cyprus (EAC) and is expecting the lenders’ feedback in a few days, Energy Minister Giorgos Lakkotrypis said recently.

The Price Index of Construction Materials for the period January-November 2015 recorded a decrease of 2,58%.

Industrial turnover recorded an annual decrease of 3.4% between January and September 2015.

A Cyprus Chamber of Commerce official has said that the investment by Chinese nationals in properties has helped the construction sector of Cyprus spring back.

The recent deal between Turkey and Israel, which could lead to normalised relations between the two nations since they soured in 2010, could have a positive impact on Cyprus’ own natural gas export plans.

Cobalt Air, an ambitious Cyprus-based airline, plans to launch commercial operations in early Spring, and it intends to make a splash on arrival, chief commercial officer Michael Hayden said.

Cyprus unemployment tumbled by 10.5% year on year in the third quarter of 2015 according to the latest figures from the Labour Force Survey conducted by the Statistical Service Cystat.