The Cyprus Investment Firms Law 144(I)/2007 provides the legal framework for the provision of investment and ancillary services as well as specific provisions regarding capital requirements, the establishment of branches, authorization and supervision of Cyprus Investment Firms (CIFs).

Its commitment to continue exploration in Cyprus was strong, said ENI recently, and good synergies could be created as Cyprus' gas could find it way to Europe through the company’s facility in Egypt.

Cypriot credit card holders spent €178.4m for purchases in August 2015, which is 5% higher compared to what the spent a year before, JCC Payment Systems said.

The government will shortly launch a competition for the licensing of an integrated casino resort, President Nicos Anastasiades revealed recently.

Renewable Energy Sources (RES) constituted 8.7% of the energy market in Cyprus in 2014, ahead of the 2015-2016 target set by the relevant European Directive of 7.45%, it emerged recently.

A delegation from Italian energy company ENI, headed by its CEO Claudio Descalzi arrives in Cyprus on September 10, 2015 to meet President Nicos Anastasiades.

Finance Minister Harris Georgiades said that authorities have received a list from the French government with the names of Cypriot depositors at Switzerland’s HSBC bank.

Hellenic Bank reported a net profit of €543,000 in the first half of the year, a major turnaround from the €95 mln loss in the first six months of 2014, while the second quarter was hit by a higher provisioning for non-performing loans, resulting in a net loss during the period of €12 mln.

Cypriot authorities early on Sunday rescued around 114 people – 60 men, 19 women, 30 children and five infants – who were in distress in a small boat off Cyprus' south east coast.

A Radisson Blu Hotel & Residence franchise is set to open in Larnaca in 2017 near the port offering 105 guest rooms and serviced apartments, Rezidor Hotel Group announced recently.