Ermes Department Stores, part of the Shacolas Group of Companies, has sold its 50% share in CTC-ARI, the company operating retail shops at Larnaca and Paphos airports, to the ARI Group for €54 million.

A feasibility study for the Eastern Mediterranean Pipeline will soon start, the Greek Minister for the Environment and Energy Yiannis Maniatis said recently in Athens.

The government has formally informed parliament of its selection of a commissioner for privatisations, Constantinos Herodotou, a graduate of the London Business School.

Cyprus’ 10-year bond yields resumed their downward course — almost reaching 5.0% — after the upward trend in the cost of borrowing registered mid May 2014 due to the turbulence in international markets.

Exploratory drilling offshore Cyprus is expected to begin sooner than originally scheduled as more natural gas reserves must be found to facilitate a LNG terminal, said the Energy Minister recently.

A solution to the Cyprus problem could raise per capita incomes by €12,000 over 20 years, expanding the size of the economy by around €20 billion.

Cyprus has spent decades building an economy based on the provision of top-quality services and with one of the most highly educated workforces in Europeoffers an attractive location for business.

Bank of Cyprus CEO John Hourican said recently at a conference on the future of asset management in Cyprus and Greece that non-performing loans are stabilising.

David Yesford, senior vice president of Wilson Learning Worldwide, cares less for traditional viewpoints than right ones. His view of business strategies is driven by what works, not what public opinion considers valid.

Finance Minister Harris Georgiades will have veto power in the new structure of the Resolution Authority, according to a bill tabled recently by the government.