Total plans to start exploration drilling in Cyprus’ exclusive economic zone (EEZ) in the first two weeks of July 2017, as it signed the contract for the exploration and production-sharing of blocks 6 and 8.

Cyprus has always been an attraction for the business world; not only from the Middle east but from the CIS countries and Europe. Cyprus has settled itself as a flourishing business centre point, with a tremendous array of investment opportunities. The optimal strategic location of the island, the advanced infrastructure and high quality of life do not only constitute key reasons to move and live on the island, but on the other hand are at the heart of an investor's choice to exploit his financial resources in Cyprus.

The post-program surveillance report on Cyprus will be the last item in the agenda of the informal Eurogroup in Malta on Friday, as announced by the Council on Tuesday.

In February 2017 compared with January 2017, the seasonally adjusted volume of retail trade rose by 0.7% in both the euro area (EA19) and the EU28, according to estimates from Eurostat.

Tourism started the year on a strong footing, with revenue from tourists soaring by 21.6% in January 2017 compared with the same month of 2016, according to data released by the Cyprus Statistical Service (Cystat).

British budget airline Jet2.com has added new flights to Paphos from its newest bases in Birmingham and London Stansted Airport this week, and also offers free flight check-in from Paphos hotels.

The International Monetary Fund (IMF) said that a year after completing its adjustment programme, Cyprus still needed to reduce both private and public debt to strengthen economic growth and confidence.

Revenue from tourism rose 22% year-on-year, in January to €35.4m, the statistical service said.

The unemployment rate in Cyprus dropped to 12.9% in February, from a downward revised 13.1% in January and 13.4% in February last year, the European Union’s statistical office said.

European and Israeli governments gave their support to moving forward with a Mediterranean pipeline project to carry natural gas from Israel to Europe, setting a target date of 2025 for completion.