The Single Supervisory Mechanism (SSM) has defined the minimum capital ratio of the Cooperative for 2017 at 14.25%, the samerate as the other Cypriot systemic banks.

The Cyprus Development Bank (cdbbank), in a bid to increase its international activities and presence, has opened a new branch of offices in Limassol.

The next steps for Bank of Cyprus are preoccupied with the bank’s listing in the London Stock Exchange.

The chairman of the Cyprus Investment Promotion Agency said that following the 2013 crisis Cyprus entered a stability and growth course and progress in various areas make it “a model of economic recovery in the European Union”.

Italy’s oil and gas giant ENI is cautiously optimistic about the prospects for offshore gas in Cyprus.

The European Commission disbursed today a €730,000 grant to Cyprus from EU Solidarity Fund (EUSF), as an advance payment following the Cypriot request for EUSF assistance after the drought and the wildfires of June 2016.

Cyprus' inflation stood at -1% in October 2016, from 0.4% in September 2016, according to Eurostat.

Cyprus’ government debt rose in September 2016 to €19.4bn from €18.7bn in June and €18.8bn in September 2015, mainly on accumulation of cash reserves by the government, the Public Debt Management Office said.

Finance Minister Harris Georgiades said that the government’s view on its financial targets for 2017 differs from that of the EC and would be explained to the Council of Finance Ministers in December 2016.

Pafilia Property Developers Group of Companies announced the appointment of the Arabian Construction Company (ACC) and Joannou & Paraskevaides Group (J&P Group) consortium, for the construction of luxury residential project, ONE,in Limassol.