An important positive development for the monetisation of the Aphrodite oil and gas field offshore Cyprus has been agreed by the government between Houston-based Noble firm and energy giant BG.

Transport Minister Marios Demetriades said that the government will resume its effort to commercialise Larnaca’s port and marina.

In a recent case, the Supreme Court of Cyprus (single Judge), in certiorari proceedings, decided to cancel a warrant issued against a Cyprus law firm for the search of its premises and offices on the ground that the law firm illegally withheld certain important documents, concerning the commission of serious crimes by the lawyer’s clients.

The unemployment rate in Cyprus fell to 15.3% in January 2016, down from 15.7% in December 2015.

Eurobank Cyprus, a subsidiary of the Greek EFG Eurobank Ergasias, has announced after-tax profits of €39.1 million for 2015.

Cyprus' Cooperative Central Bank (CCB) reported a net profit of €60.6 mln during Q4 2015, reducing thus the impact from losses incurred due to increased requirements by the Single Supervisory Mechanism (SSM), from €228 mln at the end of Q3 to €167.4 mln throughout the year.

Cypriot hopes that the some of ENI’s massive natural gas find offshore Egypt in August 2015 might have crossed into the Cyprus Exclusive Economic Zone (EEZ) were dashed when the Italian oil and gas major made it clear that the gas was all on the Egyptian side.

The Industrial Turnover Index for November 2015 reached 71,9 units (base 2010=100), recording an increase of 3,9% compared to November 2014.

Cyprus has shortlisted three bidders who will compete in the final phase to open the first casino on the eastern Mediterranean island, local media have reported.

Central Bank of Cyprus and European Central Bank (ECB) Board member Chrystalla Georgadji has said she is optimistic about the course of both the Cypriot economy and the banking system, as the island edges closer to its exit from its three-year economic adjustment programme, which expires in March 2016.