The Central Bank of Cyprus has told parliament that the biggest problem Cypriot banks are faced with two years after their 2013 resolution are non-performing loans (NPLs).

Greek prime minister Alexis Tsipras and Egyptian leader Abdel Fattah al-Sisi have agreed to hold a new trilateral meeting of the heads of state of their countries together with Cyprus.

Cyprus-based IT products distributor ASBISc Enterprises PLC’s increased its gross profit in the second quarter of 2015, indicating that measures it has taken to stem a run of losses caused by turbulence in Russia and Ukraine are beginning to take effect.

The Bank of Cyprus announced recently that the sale of Aphrodite Hills has been completed, following its approval by the Cyprus Commission for the Protection of Competition.

Almost half a million passengers are expected to use the international airports of Larnaca and Paphos for their transportation in August 2015, with 2,900 flights expected to take place during the peak of the summer holiday season.

The average yield on 13-week Cyprus treasury bills fell to 2.08% at an auction this week from 2.18% at the previous sale on July 2, 2015, the Finance Ministry said.

Two recent landmark events have paved the way to boost trade and cooperation with Iran, while Cyprus officials have also stated that the island could become a bridge to the EU for Iran.

Unemployment in Cyprus dropped by 9.7% in July 2015, according to data released recently by the statistical service.

Immovable property tax for 2015 will be paid based on 1980s values, Interior Minister Socratis Hasikos said recently, accusing parliament of ignoring the fact that thousands of properties will not be taxed.

President Nicos Anastasiades said recently that at its next meeting, the Cabinet will set up a new mechanism to monitor the €517.5 mln in public projects announced so far in 2015 and ensure they do not get embroiled in red tape.