The government generated a fiscal deficit on a cash basis of €174.1m in January to November 2015, roughly 1% of the economy, compared to a €225.4m surplus a year before mainly on decreased revenue, the Finance Ministry said.

Romanian budget airline Blue Air has announced new flights from Luton to Larnaca from summer 2016.

Paphos hotels and tourist apartments in full operation over the winter months in 2015/16 are showing a good occupancy rate, with a significant number of local visitors, encouraged by the mild weather.

Cyprus has weathered a storm of immense proportions and has demonstrated that this crisis, as ones in the past, can be weathered despite a treatment that many regard as less than fair by Cyprus’ partners, according to BoC CEO John Hourican.

The cabinet recently approved a request by the ENI-KOGAS consortium to extend its exploration activities in Cyprus' waters by two more years.

Cyprus’ international lenders have reportedly flat-out rejected the government’s proposal regarding the future of the state power company.

The Louis Group shareholders unanimously approved the framework of the restructuring plan relating to the borrowings of Louis Cruises with DVB Bank and other Banks.

The Public Debt Management Office (PDMO) at the Ministry of Finance has auctioned a record €47.9 mln 6-year retail bonds, with the January 2016 series setting the pace for the government’s financing needs in the new year.

Close to 100,000 tourists from Israel visited Cyprus in 2015, making it a record year, the Cyprus Hotel Association (PASYXE) said recently.

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.