Parliament approving the conversion of a certain type of deferred tax assets (DTAs) into deferred tax credits (DTCs) was good news for Cyprus’ largest bank, said ratings agency Moody’s.

The construction of the EastMed pipeline is a geopolitical necessity, senior fellow at the American foreign council Stephen Blank said, commenting on the latest discovery of gas in the Cypriot exclusive economic zone (EEZ).

A bill to establish a national investment fund was approved by the Parliament of Cyprus past Friday. The fund aims to manage future revenues from hydrocarbons, with political parties also agreeing to disconnect gas revenues from the nation’s public debt.

Energy Minister Yiorgos Lakkotrypis said recently that he expects to be informed about the discovery of natural gas in an offshore field within the next couple of weeks.

Cyprus-based Intergo Telecom Ltd has launched an innovative business messaging platform called www.SMS.to

Energy companies active in the island’s exclusive economic zone urged the government to think bigger, and cautioned that much needs to be done to improve existing infrastructures that support offshore drilling.

The Cyprus Securities and Exchange Commission (CySEC), the island’s regulator of financial services and investments, has revised the directive for the investors’ compensation fund (TAE), to benefit individuals who lose their money when a KEPEY investment fund goes belly up.

The gas find in Glafcos (Glaucus) 1 well in Block 10 of the island’s exclusive economic zone (EEZ) is expected to yield large revenues, the Energy Minister Giorgos Lakkotrypis said recently.

RCB recently presented the key pillars of its five-year strategy in the domestic market, which aims at further organic growth, business expansion in Cyprus, operational and technological excellence.

The strategic partnership and the opportunities for research and study through the close collaboration between the University of Cyprus and Imperial College London was the focus of an event that was successfully organised by the Imperial College London and the Cypriot High Commission in the UK on February 27 in London.