Linking research based development and research based education to industry needs is to be at the core of a new economic model for Cyprus according to Finance Minister Harris Georgiades.

The board of the Bank of Cyprus (BoC) announced the appointment of John Patrick Hourican as the bank’s new CEO.

MIT researchers have warned Cyprus to think carefully before investing a substantial amount of money in a rather unpredictable resource like natural gas, noting the “large amount of uncertainty” surrounding the rapidly changing global gas market.

The two negotiators in the peace talks have agreed to visit the capitals of Greece and Turkey for talks by the end of this month, Turkish Cypriot negotiator Osman Ertug said.

Tourist arrivals rose 6.7% year-on-year in September, the statistical service has announced, as total arrivals in the first nine months were down by around 3.0%.

Energy minister Giorgos Lakkotrypis has confirmed media reports that he has floated a plan for joint exports of natural gas with Israel via a facility in Cyprus.

The single casino licence which the government intends to issue will apparently provide for an integrated resort in one district plus two more branches, or “satellite casinos” in two other districts.

Cyprus’ banking sector is expected to show further losses in 2014 as the economy worsens and banks book rising non-performing loans, but the sector is adequately capitalised, the head of its Central Bank (CBC) has said.

Cyprus expects to lift almost all currency controls early next year, although restrictions will remain on individuals shifting funds out of the country, Finance Minister Harris Georgiades has said .

The Cabinet has approved modifications to the articles of association of the national oil and gas corporation, the Cyprus National Hydrocarbons Company (CNHC).