The government has been sounding out the European Investment Bank (EIB) for the possible establishment of a development bank on the island, Finance Minister Harris Georgiades told MPs recently.

The first official presentation of the Cyprus-South Africa Business Association was held recently, at an event attended by members of the association and other personalities from the economic and business world.

Greek carrier Aegean Airlines will launch a new route from Larnaca to London Heathrow on Sunday, 29 March 2015.

The Limassol Port privatisation will be officially launched by the end of April with a call for expression of interest, Minister of Communications and Works Marios Demetriades said recently.

Emirates, contributes to the direct, indirect and induced employment of 560 Cypriots in Dubai and for its daily operations in Cyprus.

M.M. Makronisos Marina Ltd., developer and operator of the Ayia Napa marina project, has submitted a €25 mln deposit to the Cyprus government.

Tourism arrivals were up 7.7% in January and February this year compared to the same period last year, according to CTO chairman Angelos Loizou.

Economic sentiment in Cyprus fell 0.2 units to 103.7 in March 2015 compared to the previous month, mainly on worsening confidence in the retail trade and among consumers, the University of Cyprus said recently.

European Commissioner Jyri Katainen, said recently that Cyprus’ image abroad was improving, and its credibility was being restored, making itself more attractive to foreign investment.

The significance of the EU Regulation 44/2001 is well known as its rules determine both the jurisdiction of courts in the EU in civil and commercial disputes and the conditions for the recognition and the enforcement of their judgments in other EU member States.