The total amount of non-performing loans held by all Cypriot banks decreased by €430m in September 2016, according to data released by the Central Bank of Cyprus (CBC).

The government of the Republic of Cyprus is about to introduce a new legislation which “will introduce an improved and more credible, effective and competitive framework in collective investments,” said Minister of Finance Mr. Harris Georgiades during his speech at the Cyprus Investment Funds Agency (CIFA) annual general meeting.

The government is due to announce the successful bidders for the third offshore natural gas licensing round in the final week of December 2016, while the Norwegian firm Petroleum Geo-Services (PGS) has prepared a detailed 3D seismic survey for Block 10.

The Turnover Value Index of Wholesale and Retail Trade and Repair of Motor Vehicles for the period July-September 2016 increased by 13.6% to 76.6 units (base 2010=100), compared to 67.4 units during the same period of 2015.

Cyprus is no longer a notified jurisdictional area for lack of exchange of information in the eyes of Indian law, according to a press release issued by the Indian government recently.

Cyprus and Jordan recently signed an Agreement on the Abolition of Visa Requirements for Holders of Diplomatic and Service Passports, and a programme for cooperation in the fields of education and culture for the years 2017-2020.

Hellenic Bank appointed Ioannis Matsis as Group Chief Executive Officer of the Group, replacing Bert Pijls who is stepping down due to personal and family reasons.

The National Bank of Greece is in talks with a group of investors who have filed an offer to acquire the Greek bank’s Cypriot subsidiary, sources said.

Airport operator Hermes is now one of less than 200 airports worldwide which have acquired an Airport Carbon Accreditation (ACA) certificate accredited by the Airport Council International (ACI), and joining the global battle for the reduction of carbon dioxide emissions.

Moody’s Investors Service, recently upgraded Bank of Cyprus Public Company Ltd's long-term local and foreign currency deposit ratings to Caa2 from Caa3 and Hellenic Bank Public Company Ltd’s to Caa1 from Caa2.