The Qatari Investment Authority (QIA) has shown interest in investing in property in the Limassol area, says head of the Cyprus Investment Promotion Agency (CIPA).

Barclays bank plans to downsize worldwide and its two branches in Cyprus are also affected with only about 20 out of about 45 employees keeping their jobs.

The Cyprus Hotel Association appears cautiously optimistic about the tourist industry, saying that tourist arrivals in 2014 will be equal or even somewhat better than 2013 figures,which stood at 2.5 million.

Cyprus international lenders appeared satisfied over the progress made in the consolidation of the island`s Cooperative Sector, which has been nationalized as the government will inject €1.5 billion to cover its capital shortfall.

The two official visits of the President last October in Kuwait and recently in Qatar show that Cyprus maintains many of its competitive advantages, establishing it as an attractive investment destination, says CIPA.

Private sector deposits in Cypriot banks declined slightly in December, offsetting the November rise in a sign of stabilisation after 17 months of falls, according to the European Central Bank data.

Inspectors from the troika of international lenders start contacts with Cypriot authorities as part of the island’s third review following the bailout in March 2013.

Bank of Cyprus (BoC) announces the release of some €900 million that were held in fixed-term deposits, blocked following the lender’s recapitalisation last year.

The economic sentiment indicator in Cyprus improved for the ninth consecutive month, according to recent data released by the European Commission.

UK Cypriot Demis Hassabis, co-founder of an artificial intelligence company, has sold his firm to Internet giant Google for €300m (£242m).