Cypriot-based firm Energean E&P Holdings Ltd. will be taking on a 25% chunk and become the operator of the Sara and Myra offshore drilling licenses, the license partners reported recently.

The Bank of Cyprus finally takes over the accounts of customers from the Laiki bank.

Property sales in Cyprus increased for the third consecutive month in May 2014 with strong growth recorded in all districts compared to May 2013 according to the latest figures from the Department of Lands and Surveys.

Commonwealth exports to Cyprus are now at £11.5m, up by 29.45% on last year, according to the HM Revenue & Customs (HMRC) for the year 2013.

The yield on ten year treasury bonds dropped to the lowest level in almost four years in June 2014, falling to 4.948%.

Retail trade turnover volume and value indexes were down 7.8% and 6.7% respectively in February 2014, according to the Cyprus Statistical Service.

The government believes its first issue for up to €10m worth of 6-year retail bonds was a success and is continuing with the monthly issues, with the aim of raising some €100m every year, a supplementary amount to its own fiscal needs.

Cyprus is preparing a national action plan for green growth, in line with EU targets, Agriculture minister Nicos Kouyialis said in a speech at a conference about the prospects of environmental tax reform in times of economic crisis.

The government in the context of the new programming period 2014-2020 will allocate "significant resources" from the Structural Funds to support entrepreneurship and innovation, said the Energy Minister recently.

Larnaca and Paphos town officials recently expressed their satisfaction for the preference of new airlines to include them in their routes, boosting the economies of both towns, which rely heavily on tourism.