Cypriot banks faced with a mountain of non-performing loans have managed to cut their number considerably through restructuring, Finance Minister Harris Georgiades said recently.

Bank of Cyprus CEO, John Hourican is remaining in his position until his replacement is found, a process expected to be completed by January 2016.

Economic sentiment improved in October 2015 with the Economic Sentiment Indicator (ESI) rising by 0.7 points, according tothe Economics and Research Centre of the University of Cyprus (CypERC).

Investor interest has been very strong for Imperial Residences – a hamletof luxurious properties designed by acclaimed real estate developer, Aristo Developers.

RCB Bank has been awarded the prestigious Best Bank in Cyprus distinction at the 2015 Global Banking & Finance Awards.

Manufacturing output rose an annual 3.8% in August and 2.1% in the first eight months of 2015, the statistical service said.

Transnational synergies in the eastern Mediterranean could turn the region into a gas hub, according to Italian energy giant ENI, the company that discovered an estimated 30 trillion cubic feet of gas off Egypt’s coast.

Cyprus bailout program is working well and the country makes progress under that program, a spokesperson of the IMF stressed recently.

Energy Minister Yiorgos Lakkotrypis saysthere is as yet no way of knowing if Egypt’s recently discovered Zohr offshore super giant natural gas field extends into Cyprus Exclusive Economic Zone (EEZ).

Finance Minister Harris Georgiades said that Cypriot banks, including the three main ones, Bank of Cyprus, Cooperative Central Bank and Hellenic, require no additional capital to deal with the current high non-performing loan ratio.