Cyprus is moving ahead with oil exploration in its Exclusive Economic Zone, despite recent threats by Turkey.

The University of Nicosia recently announced the operation of the Cyprus Maritime Academy at the Bernhard Schulte Shipmanagement Centre for Nautical Education, where the academy’s facilities are housed.

Airports operator Hermes expects that by the end of 2016 some 8.5 million passengers will travel through Larnaca and Paphos, a new record.

A recent report has shown that Cyprus is officially one of the safest countries in the world.

Household debt fell slightly in Q1 2016, compared with the previous quarter, to 127.3% of GDP, or €22.2bln, the Cyprus Central Bank said recently.

More than €6m was spent in the north of the island and in Turkey on credit cards issued in the government controlled areas of the Republic of Cyprus so far this year, according to figures released recently by JCC.

The majority of foreign-exchange firms in Cyprus engage in traditional trading, with roughly 40% offering derivative financial products, Cyprus Securities and Exchange Commission (CySEC) chairwoman Demetra Kalogirou said recently.

Tourism revenue reached €244.7m in May 2016 compared to €217.1m in the corresponding month of the previous year, an increase of 12.7%, Cystat said recently.

The potential reunification of Cyprus affords the EU the opportunity to demonstrate its ideals and value of its policy, Bank of Cyprus chairman Josef Ackermann has said, urging the bloc to pledge the necessary financial support in case of a solution.

The number of registered jobless people recorded a 14.4% year-on-year drop in July 2016, the statistical service said recently.