Bank of Cyprus’ outstanding emergency liquidity assistance fell by €100m, to €3.4b in February 2016, Central Bank figures showed recently.

Cyprus and Iran agreed to conclude a series of Memoranda of Understanding regarding the protection of the environment and agriculture, during a two day visit the Minister of Agriculture Nicos Kouyialis is paying to Tehran, ashead of a business delegation from Cyprus.

The plan to up the promotion of Paphos abroad continues as representatives of the district will be in Berlin on Wednesday March 9 at one of the world’s leading travel trade shows.

Transport Minister Marios Demetriades said that a June 2014 cabinet decision which provides that hydrocarbon companies would have to leave Larnaca this year remained in place and only another decision of the same body can overturn it as the political balance in the town’s municipal council remains fragile.

In a recent decision of the English Supreme Court inFHR EUROPEAN VENTURES LLP –V- CEDAR CAPITAL HOLDINGS LLC (2015) it has been held that, where an agent acquires a benefit, which came to his notice, as a result of his fiduciary or trustee position (including a business opportunity), the equitable rule is that the agent shall be treated as having acquired the benefit, or opportunity on behalf and for the account of his principal. The principal is considered as the beneficial owner of such benefit, and has a proprietary remedy to trace and recover such benefits, in addition to his personal remedy against his agent. The principal can elect between the two remedies.

Registered unemployed in Cyprus fell to the lowest level in 34 months on the basis of seasonally adjusted data released by the Cyprus Statistical Service.

Seasonally adjusted GDP rose in Cyprus by 0.4% during Q4 of 2015 compared to the previous quarter and by 2.7% compared to the same quarter of 2014, according to data released recently by Eurostat.

Members of the public will have until the end of April 2016 to submit proposals on developments for the Larnaca seafront where strategic oil reserves were stored until they were transferred to Vasilikos.

Confident of better ratings and cheaper funding as it exits a eurozone bailout, Cyprus is wary of planning new borrowing to help fund any reunification and may not need it, Finance Minister Harris Georgiades said.

Cyprus might soon be excluded from the European Central Bank’s bond-buying programme because its credit rating is below investment grade and it is likely to exit its bailout programme at the end of March 2016, an ECB spokesman said recently.