The recovery of the economic activity in Cyprus is projected to continue in the coming months of 2016 as GDP is expected to reach 2,7%

The Central Bank of Cyprus (CBC) informs customers of the Cyprus branch of Trasta Kommercbanka Bank that the Board of the Financial and Capital Market Commission (FCMC) of Latvia has imposed restrictions on the activities of the joint stock company Trasta Komercbanka.

The electrical connection between Cyprus, Israel and Greece through Eurasia inter-connector would improve the potential of Cyprus and Israel to further develop renewable energy sources (RES), said Eitan Parnass, Director General & Founder of the Green Energy Association of Israel and secretary of Global Solar Council.

British Gas will be joining the consortium which has the concession on Block 12 in Cyprus’ Exclusive Economic Zone (EEZ), Energy Minister Giorgos Lakkotrypis announced recently.

Cyprus has the sixth highest government guarantees in the EU according to recent data released by the EU’s statistical service Eurostat.

Noble Energy, a partner in Cyprus’ offshore Block 12, announced this week that it would be cutting its quarterly cash dividend by $0.08 US to $0.10 US.

Lamesa Holdings has recently paid €4.4m to acquire 30mn shares of the Bank of Cyprus via the Athens Stock Exchange (ASE), increasing its stake in the Bank from 6.2% to above 8%.

With the launch of its new Dubai-Larnaca-Athens service in March 2016, Emirates is offering promotional, all-inclusive fares for Economy and Business Class travel from Larnaca to Athens and on Economy Class between Larnaca and Dubai.

Minister of Transport, Communication and Works Marios Demetriades will participate in a two–day event in Hamburg, Germany, on the 26th and 27th of January, in the framework of the government`s strategy to attract new registration of vessels in the Cypriot ship registry and investments by new shipping companies.

Cyprus is completing its reform programme agreed with the European Stability Mechanism and the International Monetary Fund in March 2016, having utilised less than €8b out of the €10b available to it in bailout money.