The real estate market in Cyprus is on the recovery, following in the footsteps of the country’s overall economic activity.

Three airlines will promote Cyprus as part of a €2 million pilot programme, undersecretary to the President Constantinos Petrides said recently.

An increase of 6.5% was recorded in revenues from tourism in July 2015 compared to July 2014, according to data released by Eurostat recently.

The trade deficit narrowed to €2.15 bln in the first eight months of the year, compared to €2.27 bln in the same period in 2014, according to the Statistical Service Cystat.

The Cyprus Shipping Chamber is calling on the government and all stakeholders to quickly establish the legal framework within which the oil and gas sector will operate.

A European Union directive on bank deposit guarantee schemes (DGS) is expected to be transposed into the island’s legislation by the end of the October 2015, as Cyprus faces hefty fines if it continues to delay its approval.

U.S. billionaire Wilbur Ross said that he was optimistic that he would recover his investment in Bank of Cyprus asthe situation with the lender’s bad loans was improving, and added that he hoped Cypriot voters would not risk a change in the direction of Cyprus’ economic recovery.

France’s Total will extend an offshore natural gas exploration programme in Cyprus after coming up empty in prior surveys.

The recovery of economic activity in Cyprus is forecast, according to the Economic Research Centre of the University of Cyprus, with real GDP growth for 2015 revised upwards from 1.1% in August to 1.3%.

Ten foreign investment companies have been cleared to enter Cypriot markets while eight more are being considered, including a company with Turkish interests that wants to start a hedge fund on the island.