Deutsche Bank officials have told Cyprus they would be interested to lead a financing consortium if the LNG terminal proves to be viable.

The Bank of Cyprus (BoC) board of directors will discuss setting up a separate entity to handle non performing loans, it emerged recently.

The state-owned Natural Gas Public Company (DEFA) has started assessing the bids submitted by interested suppliers of natural gas for the use in power generation.

Standard and Poor’s ratings agency has upgraded the island’s sovereign credit rating predicting a positive economic outlook, while Fitch Ratings revises the outlook on Cyprus’s long-term foreign currency Issuer Default Rating (IDR).

A group of Kuwaiti investors are exploring various potential business ventures in Cyprus while the government further gauged Deutsche Bank’s interest in co-bankrolling a mooted LNG terminal.

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Cyprus’ deficit shrank in 2013 while the public debt increased compared with 2012, the EU’s statistical service, Eurostat, said recently.

Chairmen of three Kuwaiti investment funds arrived inCyprus for meetings with government officials and the Cyprus Investment Promotion Agency (CIPA), to discuss investment prospects.

A high-level delegation from the German giant Deutsche Bank is due in Cyprus this week to discuss financing prospects for a natural gas (LNG) liquefaction terminal.

Cyprus Airways is on the right path after a year of austerity programmes, currently breaking even and now ready to attract new investors, says the airline’s chairman.