Construction activity in Cyprus accelerated in 2015 with building permits reaching 5,014 in the period of January–December 2015, marking an increase of 1.64% year on year.

In the recent case of Ukrainian Vodka Company Ltd v Nemiroff International Limited,the Applicant requested an order of the Court permitting the enforcement of two Arbitral Awards issued in favor of the Applicant and against Nemiroff International Limited. It was highlighted by the District Court of Nicosia amongst others that during its submission of the application, the Applicant should provide (i) a duly authenticated original or certified copy of the arbitral award; and (ii) a duly certified original or certified copy of the arbitration agreement. Furthermore pursuant to the New York Convention, if the Arbitral Award is drafted in a language which is not the official language of the country where the award will be enforced, the documents must be translated into the official language of that country and certified by an official, sworn translator or a diplomatic or consular agent.

The Co-op bank will announce a series of financial products aimed at supporting small and medium-sized enterprises (SMEs).

Energy Minister Yiorgos Lakkotrypis said the government has no plans to privatise state-owned power producer Electricity Authority of Cyprus (EAC) even as it intends to open up the market to competitors.

Lebanese companies view Cyprus as an attractive place for investment and cooperation with local companies.

Investment funds total assets recorded a drop of 0.8% in December 2015, down to €2,886m compared with €2,908m in September 2015, data released by the Central Bank of Cyprus show.

ExxonMobil has requested authorisation to begin dismantling a big part of its facilities near the Larnaca port, following a plan agreed in 2000 between the government and municipal authorities.

As Cyprus heads out of the bailout programme the fall in property prices is bottoming out according to data from the Central Bank of Cyprus residential property prices index (RPPI).

The Transport Ministry announced recently that the evaluation process of the bids submitted for the commercialisation of Limassol port has been concluded, with more information to be announced shortly.

Three beaches in Cyprus are among Europe’s 25 best, according to 2016 TripAdvisor Travellers' Choice.