The Cyprus government will go to tender by the end of the week of June 20, 2015 to invite bidders for the three services at Limassol port, the island’s main port of call that accounts for 80% of passenger traffic and 70% of all commercial activity.

President Nicos Anastasaides’ visit to Jerusalem was hailed by both countries as another step in growing ties between Cyprus and Israel.

RCB Bank, the Limassol-based private bank that passed the ECB’s stringent stress tests in October 2014, plans to expand its presence on the island by providing more corporate lending.

Cyta Hellas, the wholly-owned subsidiary of the state telco Cyta that is slated for privatisation, reported a turnover of €90.49 mln for 2014, with gross profits at €29.44 mln, up from €26.28 mln the year before.

The Public Debt Management Office of the Ministry of Finance announced that the recent auction of €50 mln 30-day Treasury Bills was oversubscribed by about 1.24 times, with the yield dropping to 1.75%, compared to 1.81% in the May auction.

IMF spokesman Gerry Rice recently praised Cyprus’ reform efforts, noting that they have started to pay off.

The Natural Gas Public Company (DEFA) has completed its evaluation of the bids for supply of natural gas for domestic electricity generation.

The trivago Hotel Price Index (tHPI) for June 2015 has revealed it is now cheaper to holiday in Cyprus than at this time last year.

Bank of Cyprus Public Company Ltd hasrepaid €500m of Emergency Liquidity Assistance (ELA) and €260m of European Central Bank (ECB) funding to its international creditors, the bank said in a statement recently.

Ship management revenues increased to €421 million during the second half of 2014, according to a Ship Management Survey.