Cyprus hopes to sell a new bond worth as much €1 billion and orchestrate a buyback of some of its older bonds this year, Phaedon Kalozois, head of Cyprus’ debt office, said recently.

The industrial turnover index rose in March 2016 by an annual 2.9%, boosted mainly by increased sales by Cypriot manufacturers and companies in the mining and quarrying industry, the statistical service said.

The government expects to have the bids for the third oil and gas offshore exploration round by July 22, 2016 DIKO MP Angelos Votsis said recently.

Despite limited expectations from the foreclosures procedure, which was tested for the first time recently by Bank of Cyprus in Paphos, the process yielded mixed results, with significant interest in some cases but none in others.

President Nicos Anastasiades said there was no need to panic, following the result of the British referendum.

Another bumper year for tourism is on the cards, with arrivals projected to reach nearly three million in 2016, Commerce and Tourism Minister Giorgos Lakkotrypis said recently.

The Cyprus subsidiary of Greece’s Piraeus Bank could be sold in the coming days or even hours according to local media reports.

Three Cyprus projects will benefit from a wider European Commission cash injection to improve transport infrastructureand boost jobs and growth.

The bid by Bank of Cyprus (BoC) for a listing on the London Stock Exchange will not be affected by an exit of the UK from the EU according to senior bank officials.

The government is implementing a new Cyprus shipping strategy to widen the sector’s horizons and create new opportunities for expansion into new markets, Transport Minister Marios Demetriades said during his address at the 5th Mare Forum Cyprus 2016.