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.

Bank of Cyprus officials have said that the lender has concluded about 80% of is targeted restructuring of non-performing loans and that the aim is to close the year with €1 bln worth of bad loans.

Relations between Cyprus and China could be boosted in a number of economic sectors, Chinese Foreign Minister Wang Yi said, during his recent visit to the island.

The EuroAsia InterConnector, a proposed subsea electricity cable connecting Israel and Cyprus to the European mainland, has moved closer to the implementation stage after the project promoter awarded three studies paving the way for the pre-works phase.

The Cyprus Stock exchange (CSE) has lifted the suspension of the trading of hi-tech company Globo Technologies.

Tourists arrivals rose an annual 33% in November to 108.093 boosted by a more than doubling of Russians visiting Cyprus and a strong increase in arrivals from other major markets, the statistical service said.

Cyprus has signed updated air transport cooperation memoranda with Qatar and the United Arab Emirates (UAE).