Non-performing exposures (NPEs) in the Cyprus banking system dropped to €11.02 billion in September 2018 marking a €5.6 billion reduction since end-June 2018 as Hellenic Bank acquired the performing part of the state-owned Cyprus Cooperative Bank, which has been converted to an asset management company.

The results of a Pan-European survey carried out by the Cyprus Chamber of Commerce at the end of 2018 showed that businesses in Cyprus are optimistic about the new year with regards to prospects for growth but remain concerned over red tape and energy prices.

Despite an increase in its R&D spending, Cyprus still has one of the EU’s lowest scores in R&D intensity, Eurostat figures showed recently.

Cyprus has been ranked the third most family friendly destination in Europe for a beach holiday, according to the Family Beach Index compiled by British travel firm On The Beach.

Cyprus’ passport was ranked 16th worldwide in terms of global access, according to the Henley Passport index.

EY has been recognized by Forrester Research as a leader in innovation consulting services in The Forrester Wave™: Innovation Consulting Services Providers, Q4 2018.

Cyprus’ external trade deficit for the period of January – November 2018 declined by 13.5% compared with the respective period of 2017 due to a spike in exports, according to provisional data released by the Cyprus Statistical Service (Cystat).

Unemployment rates in Cyprus increased to 9.2% – 8.9% for men and 9.6% for women – amounting to 41,000 people in November 2018, compared with the previous month but remaining lower than November 2017 when 43,000 were unemployed, Eurostat said recently.

Drilling activities on behalf of ExxonMobil and Qatar Petroleum in the Delphine target in Cyprus’ offshore block 10 have been completed but there will be no announcements until after the end of drilling in the second location the energy consortium has chosen to explore, Energy Minister George Lakkotrypis, said recently.

Corporate deposits rate in Cyprus declined to 0.46% in November 2018 from 0.75% the month before, reaching a new historic low, according to data released recently by the Central Bank of Cyprus (CBC).