In a recent decision of the English Commercial Court in ESSAR SHIPPING LTD –v- BANK OF CHINA LTD (2015) it has been held that an applicant to an anti-suit injunction shall act promptly and not sleep on his rights.

A positive climate prevailed on the Cyprus Stock Exchange (CSE) on Tuesday March 29, 2016.

Wedding tourism from neighbouring Lebanon is busier than ever – with authorities hoping the upward trend will continue.

The Energy Ministry recently invited tenders for the development and operation of a science and technology park at Pentakomo in the coastal town of Limassol.

Cypriot companies were successful in reducing their non-performing loans in 2015 at the expense of their liquidity, while households saw their non-performing loans rise amid an increase in deposits against loans, an analysis of central bank figures shows.

Average employee monthly earnings fell to €2,156 from October to December 2015, a 0.9% drop relative to the respective quarter of 2014 and 0.2% compared with the third quarter to a seasonally adjusted €1,874, which is comparable to 2009, the statistical service said, citing preliminary data.

Constandinos Loizides, the Chairman of Piraeus Bank (Cyprus) Ltd, will take over the helm of the Group’s international operations and business and planning development divisions, effective from 1 April 2016.

Total deposits in Cypriot banks in February 2016 recorded a net increase of €78.4m, compared with a net increase of €234.5m in January 2016, according to data published by the Central Bank of Cyprus (CBC).

Whereas a court ruling in Israel complicating plans to develop that country’s natural gas fields does impact the development of Cyprus’ Aphrodite prospect, the effect is a lateral one, energy analyst Charles Ellinas has told the press.

Non-performing loans (NPLs) in Cyprus fell by €704m in December 2015 compared to November, with total NPLs reaching €26.685m on 31 December 2015.