Funds drawn by Cyprus under the European Fund for Strategic Investments (Efsi) reached €45m in November 2017, as the island was set to receive an additional €81m, the European Commission said.

The House of Representatives recently voted an amendment in the Income Tax Law regarding the capital allowances that can be claimed for certain types of assets.

Minister of Agriculture, Rural Development and Environment, Nicos Kouyialis has said that people in Cyprus are turning to agricultural production, while the sector’s contribution to the country`s GDP is growing.

The reduction of delinquent loans is key for the success of the Cyprus Cooperative Bank’s planned capital increase, a Co-op executive said, as it entered preliminary talks with potential strategic and institutional investors.

The harmonised consumer price index rose an annual 0.2% in November 2017 mainly on higher prices for energy and services, the statistical service said.

Five more high rise towers are set to be built in Limassol, already home to several skyscrapers along the city’s coast road.

The 10 millionth passenger to use a Cyprus airport in 2017 left Larnaca airport on Monday morning with a special celebration to mark the milestone.

The unemployed persons, registered at the District Labour Offices on the last day of November 2017, reached 33.780.

Non-performing loans in the Cypriot banking system fell in August to below €21.9bn, the lowest since December 2014, or 44.7% of total, from below €22.4bn the month before, the Central Bank said recently.

The share of government revenue from taxation and in the form of social contributions rose to 33.6% last year from 33.2% in 2015, the European Commission’s statistical office said.