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).

The House voted into laws five bills for the Cooperative Central Bank, providing for the recapitalisation of the bank with €200 million.

Cypriot businesses are being offered exhibition space to promote their goods at the World Commerce Valley – Yanjiao, one of the largest trading centres in China that will spread over ten square kilometres.

Around 50,000 Russiantourists are expected to grace Cyprus from March to November 2016, as the island is now seen as a safer option than Egypt since the fatal crash of a Russian airliner.