Hellenic Bank’s preliminary agreement to sell €145m of non-performing, non-retail secured and unsecured loans to Norway’s B2Holdings ASA is a credit positive for the lender, Moody’s Investors Service said.

In early February Moody’s agency will issue its first rating for the Cypriot economy, opening the way for a round of rating actions, estimated to mark the return of Cypriot junk-rated bonds back to investment-grade.

The number of property transactions in December 2017 rose an annual 36% to 1,537, the highest number reported since July 2008, the department of lands and surveys said.

Cyprus' Ministry of Finance says the island has signed a double tax agreement with Saudi Arabia with respect to taxes on income and for the prevention of tax evasion.

The economic sentiment indicator dropped by 3.4 units in December 2017 to 118.9 units from its November peak, mainly on reduced business confidence in the services sector, the University of Cyprus said.

Italian naval frigate the Espero arrived in Larnaca port as part of maritime operations on January 4, 2017 and will remain docked there until January 8.

The output of the construction sector rose 13% in the third quarter of 2017 compared with the respective period of the year before as producer prices continue to rise, the statistical service said.

The number of registered unemployed dropped an annual 15% in December 2017, by 6,081 to 35,771, the lowest December rate since 2011, the statistical service said

Cyprus said recently that Saudi Arabian oil company Saudi Aramco has expressed a business interest in its exclusive economic zone (EEZ).

The state-owned Cyprus Cooperative Bank has said that its delinquent loan portfolio dropped last year by €806m to €6.4bn at the end of 2017 compared to a year before, a decrease of 16%.