The sale of its Russian subsidiary Uniastrum will benefit Bank of Cyprus (BoC), Moody’s Ratings agency said recently, despite the €29mln accounting loss incurred by the lender.

The Cypriot team ArachnoBeeA, winner of the NASA International Space Apps Challenge has been invited by NASA to attend the launch of a space rocket in September 2015.

A new study focuses on tourism tax receipts and finds that the Cyprus economy gets a significant boost from taxes.

Thousands of British expats and other Barclays account holders in Cyprus will see their accounts closed by the bank in September 2015 unless they contain a minimum deposit of £100,000.

A Bloomberg survey of seven economists has indicated an improved GDP growth rate of 0.7% for the whole of the year, up from a contraction of 0.4% indicated in the previous forecast.

RCB Bank announced recently it has opened two new branches in Nicosia and Limassol as part of its policy to expand its operations in Cyprus.

Ayia Napa hotels are currently filled to capacity, the holiday resort’s mayor said recently, partly boosted by the turmoil in the region.

Cyprus' priority should be to develop the Aphrodite gas reservoir, and although a pipeline to Egypt appears to be the best solution for monetising the gas, there are questions over its feasibility, recent research concludes.

While Cyprus continues to provide an enviable sun-and-sea holiday product, a new generation of professionals and business people have discovered the island has much more to offer.

Shacolas Emporium Park - which includes the Mall of Cyprus and the building housing IKEA - has been sold along with The Mall of Engomi for a reported price at €193,740,000.