Lebanon is finally getting serious about developing its offshore oil and gas reserves thanks to a reduction in domestic political tensions, a senior industry veteran told a high-profile energy conference in Athens recently.

The number of company registration applications in Cyprus have continued to increase for the 3rd consecutive year according to data released by the Department of the Registrar of Companies and Official Receiver (D.R.C.O.R.) of the Republic of Cyprus.

Chairman of the Maritime Institute of Eastern Mediterranean 'Marinem', Zacharias Shiokouros, has put forward a proposal aiming at promoting cruise tourism in the region.

A huge seafood restaurant, the first phase of the luxury ‘Castle Project’ at Larnaca’s Mackenzie beach is expected to be completed in May 2017.

Naguib Sawiris has started marketing his €220 mn Cypriot luxury real estate project, Ayia Napa Marina, to investors in the UAE, according to press reports.

The Industrial Output Prices Index showed a decrease of 3.7% between January-December 2016, compared to the corresponding period of the previous year, the Statistical Service announced recently.

The government will not sell its Troodos properties, the state lottery, and the Cyprus Stock Exchange (CSE).

The first signals of 2017 on tourism are positive, as pre-bookings from international markets reveal.

The unemployment rate rose for a second consecutive month in December 2016 to 14.3% from 14.2% in November and 13.1% compared to December 2015, the European Union’s statistical office said.

The industrial production index rose by 8.4% between January and November 2016, compared to the corresponding period of the previous year, the Statistical Service said recently.