Cyprus’ retail trade rose 2.1% in terms of value in the first half of the year, and 5.9% in terms of volume compared to the respective period of 2015, the statistical service said.

India’s cabinet approved the renegotiated double tax avoidance treaty with Cyprus, the South-Asian country’s Finance Ministry said.

The number of real propertiesbought by non-Cypriots rose an annual 12% in the first seven months of the year to 876, which is almost one quarter of the number of properties which changed hands this year, the Department of Lands and Surveys said.

The Public Debt Management Office said that it will deposit €430m of government funds in Cyprus’ banking system after receiving offers from commercial banks at an auction.

A team of troika technocrats are due in Cyprus from September 6 to 30, 2016, to look at outstanding matters from the island’s adjustment programme, particularly with regard to reform.

A consortium comprising the Cyprus University of Technology (CUT), Chrysalis LEAP and the Cyprus Energy Agency (CEA) has been successful in its application to participate in the Regional Innovation Scheme (RIS) of Climate-KIC, the main European Initiative for Climate Change and Sustainable Development.

Managing the economy is a matter of national responsibility said the Minister of Finance, Harris Georgiades recently.

Bank of Cyprus, the island’s largest lender, has decided to change its fees and commissions for services for the first time since 2010 in an attempt to divert more business from traditional banking to online banking.

Etihad Airways, the national airline of the United Arab Emirates, is shutting down its Cyprus-Abu Dhabi route as of October 31, 2016, it said recently.

Cyprus’ tourist product can contribute up to 30% of GDP by 2030, creating an additional 70,000 jobs, according to agovernment-sponsored report by Spanish company THR-Innovative Advisors.