The development of Egypt as a regional energy hub seems to be the most advantageous and competitive solution for gas exports from Cypriot and Israeli reserves according to a recent study.

The EBRD is providing a €10 million trade finance facility to Alpha Bank Cyprus for guarantees in favour of confirming banks to cover the political and commercial risk of trade finance instruments issued by Alpha to facilitate foreign trade finance activities.

Cyprus’ energy prospects were among the topics discussed recently by President Nicos Anastasiades with the Energy Strategy Council, with an eye towards making the Council a permanent institution in the future.

Cobalt Air has announced the addition of a sixth aircraft to the fleet.

The chairman of the Consultation Council of Oman, Khalid Al Mawali and Speaker of the House of Representatives Demetris Syllouris recently discussed ways to further strengtheneconomic ties between Oman and Cyprus.

The Co-operative Central Bank will offer loans for roof heat-proofing at favourable terms, in collaboration with the employers’ association (OEV), it was announced recently.

Cyprus and Luxembourg have signed a double tax avoidance and prevention of tax evasion treaty, based on the model convention of the Organisation for Economic Cooperation and Development, the Finance Ministry said.

Although residents and visitors to the town have admired Limassol’s transformation over recent years, Mayor Nicos Nicolaides says more improvements - to the tune of €22 million - are on the way.

Plans are currently in the pipeline to construct a new €60m mall close to the GSZ Stadium in Larnaca which will be unveiled next year.

The President of the Cyprus Shipping Chamber, Themis Papadopoulos, participated in the deliberations of the Executive Symposium: ‘Shaping the Future of the EU Maritime Transport Cluster’, which was held in Florence, Italy on 4-5 May 2017.