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%.

Cyprus’ first offshore patrol vessel (OPV) which was built in Israel has arrived at Larnaca port, it emerged recently.

Hellenic Bank, Cyprus’ third largest lender, said that it agreed to sell Norway’s B2Holdings ASA €145m of loans as part of its strategy to reduce its delinquent loan portfolio.

The trade deficit increased by €162.1 mn as a result of a significant increase in imports in the first nine months of the year, compared to the same period last year.

Economy and energy developments with a brief mention of the Cyprus issue, were the main focus of President Nicos Anastasiades’ televised New Year address during which he said 2017 had been a productive year for the country.

A recent announcement, which appeared in the media, shows that Petrogress, Inc. (OTC: PGAS) is doubling down in Cyprus, entering into a Memorandum of Understanding (MOU) with EDT Agency Services, Ltd. at the Limassol Port.

The period of exchange of Cyprus pound banknotes with euros will expire on December 31st 2017.

The island generated a €321m current account surplus in July to September 2017 against a €405.9m surplus in the respective quarter of 2016 and a €7.4m deficit in the quarter before, the Central Bank of Cyprus said.

The government generated a fiscal surplus of €482.1m in the first eleven months of the 2017 or 2.5% of economic output, the statistical service said recently.

The Central Bank of Cyprus (CBC) is conducting a nationwide survey to assess the island’s financial knowledge, with results expected to be announced within the first half of 2018, it emerged recently.