Cyprus was among the world’s top 10 countries that improved their business rules in 20145, according to the World Bank’s Doing Business report.

Fuel retail prices are expected to drop on October 28 2015, following reductions agreed to by oil companies a day earlier.

Bank of Cyprus Chairman Josef Ackermann told the New York Times that the turnaround of the bank will take another two to three years.

UK and institutional investors accounted for the bulk of buyers of the 10-year bond issued by the Cyprus government recently.

Increases in deposits at local banks continued for the third consecutive month in 2015 amounting to €933 million.

Finance Minister Harris Georgiades says the island’s creditworthiness has been essentially restoredfollowing his Ministry’s issuance of a 10-year eurobond (EMTN).

Retail sales volumes jumped by 4% year on in year August 2015, according to preliminary figures from the Statistical Service Cystat, following a 4.7% leap in July.

Arch Capital Group Ltd (ACGL), one the most internationally respected providers of innovative risk management solutions through Insurance, Reinsurance and Mortgage underwriting platforms is opening up shop in Cyprus before the end of 2015.

Τhe House Committee on Financial and Budgetary Affairs began the discussion on the 2016 state budget with Finance Minister Haris Georgiades analysing the state revenues, the situation of the public finances and the fiscal index, adding that there will be no tax breaks before the parliamentary elections in May 2016.

The public debt management office said that it intends to issue a euro-denominated 10-year government bond of unspecified value on October 27 2015, which it will offer to holders of three outstanding government bonds maturing in less than five years totaling €1.9bn.