Cyprus is likely to return to growth next year in 2015, the International Monetary Fund said recently, but cautioned the outlook was tempered by tensions over Ukraine and banks’ rising bad loans.

Non-performing loans (NPLs) on owner-occupied housing account for less than 15% of all NPLs, according to latest data from the Central Bank.

If the House does not pass the foreclosures bill the Troika’s fifth and latest review will not be considered concluded and they will come back to the island to re-discuss the issue, IMF Mission Chief Delia Velculescu said recently.

The government recently signed a preliminary agreement in Nicosia with an Italian-South Korean joint venture on exploring the development of natural gas offshore Cyprus.

Bank of Cyprus (BoC) announces it will release 12-month time deposits of worth €927 million that were blocked as part of the terms of its recapitalisation in July 2013.

The Maritime Institute of Eastern Mediterranean has submitted a proposal for Cyprus to set up its own Maritime Institute similar to that of Ireland to further build up the sector.

Bank of Cyprus (BoC) shares will remain suspended until the end of October 2014, the island's stock exchange said recently, following a decision of the Cyprus Securities and Exchange Commission.

The Ministerial Committee focusing on Cyprus Airways’ survival will meet to prepare the ground for the national carrier’s next step in its quest for strategic investors, says Communications Minister Marios Demetriades.

Recession in Cyprus is projected to continue during 2015, the Economics Research Centre of the University of Cyprus said in its July Economic Outlook, forecasting a contraction in GDP of 0,7% for the next year, unlike a weak growth of 0,4% projected in the troika adjustment programme.

The Cyprus Ports Authority (CPA) will appoint a second consulting firm for the privatization of the commercial activities of the Limassol port as part of a privatisations plan to yield proceeds of €1.4 billion by 2018.