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.

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.