2016 was a good year for the GRS Group, both locally and internationally.

Net lending from banks in Cyprus is expected to rise during the first quarter of 2017, according to the January 2017 Bank Lending Survey of the Central Bank of Cyprus.

The European Investment Bank (EIB) and Bank of Cyprus recently signed an agreement to inject €134m of cheap credit for small and medium-sized companies (SMEs) and midcaps.

Moody’s Investors Service said that the recovery of property prices, reported by the Central Bank of Cyprus, would improve the asset quality of Cypriot banks, which is a credit positive.

The Council of Ministers of Cyprus approved on Wednesday, 15 February 2017 the Cypriot startup visa scheme with the aim of attracting investment from foreign investors in the area of innovation and research.

Applications of stakeholders interested in the joint development of Larnaca port and Larnaca marina as well as the surrounding premises will be submitted on March 3, 2017, Transport, Communications and Works Minister Marios Demetriades has announced.

Cyprus has a very strongship-management sector, offers services to almost 5% of the world`s fleet and has around 22-25% of independent third party ship-management, Transport, Communications and Works Minister Marios Demetriades has said.

Cyprus Statistical Service (CyStat) announced that the Harmonized Price Index for January 2017 increased by 0.7% compared to January 2016, while compared to December of 2016 it decreased by 0.8%.

RCB Bank announced that it was ranked the Safest Bank in Cyprus for 2016 in a survey by the distinguished international publication ‘Global Finance Magazine’.

Energy Minister Giorgos Lakkotrypis is moving quickly with LNG plans for Cyprus, following the completion of a study into the best options for liquefied natural gas as an energy alternative.