Bank of Cyprus said recently it generated a €97m net profit in the first half of the year and €2m in the second quarter, as it officially announced the change of its top management.

Cyprus expects to start importing natural gas for power production in late 2021 if its complex tender procedure goes according to plan.

The government expects a joint venture of energy companies to submit a new development and production plan for an offshore gas field this week, with the first gas expected between 2020 and 2025, Energy Minister Giorgos Lakkotrypis said recently.

Cypriot universities have become one of the beneficiaries of the UK exodus of EU academics and students from British universities amid uncertainty over Brexit.

Economic sentiment in August 2019 improved significantly, after consecutive months of negative territory, buoyed by stronger business confidence in services, retail trade and construction, according to the University of Cyprus benchmark index.

Bank of Cyprus is at a turning point and its decisions will be decisive not only for the lender but the entire economy, CEO-designate Panicos Nicolaou has told staff.

German-based ratings agency Scope has affirmed Cyprus’ BBB- sovereign rating with a stable outlook citing the island’s continued economic recovery and fiscal consolidation as well as its euro area membership.

Α multinational consortium of JV China Petroleum Pipeline Engineering Co Ltd, Aktor S.A. and Metron S.A., with Hudong-Zhonghua Shipbuilding Co. Ltd and Wilhelmsen Ship Management Limited ranked first in the evaluation for the construction of the infrastructure required for the introduction of natural gas in Cyprus.

September 2019 is critical for the tourist industry as Cyprus Tourism Minister Savvas Perdios expects to confirm an increase in flights to the holiday island for 2020 and results to attract more Germans to be successful.

Bank of Cyprus has come to an agreement to sell its share in the Nicosia Mall for around €96m, reports said.