Central Bank of Cyprus governor Chrystalla Georghadji said that she expects a substantial drop in non-performing loans, the latest by 2020 after their increase was halted in 2015.

The government sold a total of €100m in 13-week treasury bills at an auction with an average yield of 0.61%, slightly below the previous auction, the Public Debt Management Office said.

Egypt and Cyprus are expected to sign the first of three bilateral agreements on natural gas when Egypt’s energy minister Tarek El Molla visits the island on August 31, 2016.

The prospect of a land-based liquefied natural gas (LNG) plant could be back on the table if Total finds significant quantities of gas when it drills in Block 11 or if the new licensing round comes up with large discoveries, according to Energy Minister Yiorgos Lakkotrypis.

Bank of Cyprus has announced that its new holding company, Bank of Cyprus Holdings PLC was incorporated in the Republic of Ireland earlier this year, in order to be included in the FTSE UK index series.

The Ministry of Energy, Commerce, Industry and Tourism announced that it is offering scholarships for graduate degree programmes beginning during the 2016-2017 academic year in fields relevant to hydrocarbons.

The acquisition of Cypriot pharmaceutical company Remedica, by international Ascendis Health, listed on the Johannesburg Stock Exchange, is a strong and clear vote in favour of the local economy, Finance Minister Harris Georgiades said.

Some 14.3% of people unemployed in Cyprus found a job between the last quarter of 2015 and the first quarter of 2016, according to Eurostat.

Cyprus’ retail trade rose 2.1% in terms of value in the first half of the year, and 5.9% in terms of volume compared to the respective period of 2015, the statistical service said.

India’s cabinet approved the renegotiated double tax avoidance treaty with Cyprus, the South-Asian country’s Finance Ministry said.