Cyprus – Tax- Announcement of the Ministry of Finance of the Republic of Cyprus Convention for the Avoidance of Double Taxation and the prevention of fiscal evasion with respect on taxes on income between the Republic of Cyprus and the Government of the Republic of India.

The Economics Research Centre at the University of Cyprus published a report recently that said in June 2016, economic sentiment in Cyprus deteriorated.

The Index of Industrial Production for April 2016 reached 79.9 units (base 2010=100), recording an increase of 10.8% compared to April 2015, according to data released by the Statistical Service of Cyprus.

Non-performing loans in the Cypriot banking system fell by €163.4m in April 2016, to €25.5bn in a month, the lowest since December 2014, the Central Bank of Cyprus said recently.

Software developer Logicom said that it expects more profit from its operations in the first half of 2016 in which turnover remained more or less unchanged.

Lordos Hotels (Holdings) Plc Ltd said recently it expects to report improved earnings in the first half of 2016.

Bank of Cyprus said it will consult its shareholders and other stakeholders before it decides its next steps concerning its intention to pursue a listing on the LSE, following Britain's decision to leave the EU.

Nicosia says President Nicos Anastasiades had not been out of the loop regarding the Turkey-Israel rapprochement, with experts pointing to energy as the main engine pushing for good relations in the area.

The European Commission proposes to maintain the EU co-financing rate of 85% for Cyprus and to extend the 'top-up' mechanism, which can benefit Greece.

The European Commission has found a Cypriot scheme to support private households and micro companies that encounter difficulties in repaying loans to be in line with EU state aid rules.