Russian and British and local investors will battle for Legacy Laiki assets, sources within the bank’s administration have told the press.

Part of the new insolvency framework, ‘Personal repayment schemes and debt relief order’, which enables up to €25,000 in debt relief in some cases, has come into effect.

• UK fraud coming to Court soars to £385m in the first half of 2015, an increase of 22% • Explosion in family fraud as Britain’s elderly preyed on by younger relatives • Fraudulent middlemen line their pockets duping unwary buyers

CEOs continue to transform their organizations and are increasingly concerned about product relevance, customer loyalty and keeping current with new technologies, according to new KPMG CEO Outlook Study

Cyprus recorded the highest level of deflation since 1960 in July 2015, with the consumer price index decreasing for the 25th consecutive month.

A bill under the name “Lawregulating the activities of portfolio investor companies of 2015”, has been drafted by the Central Bank of Cyprus and is set for approval by the Parliament by the end of September 2015. Cyprus will need to implement this law before a €500 million bailout tranche is released.

Tourism officials have cause to celebrate, as research conducted by beach holiday specialist 'On the Beach' has revealed that Cyprus has seen the biggest increase in last minute bookings, up a whopping 44% on 2014.

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.