Retail trade value and volume rose in October 20014 a provisional 0.9% and 0.1% respectively compared to the month before, the statistical service said recently.

Non-performing loans in Cyprus’s banking system exceeded €28.2 billion on November 30, 2014, representing almost 49.7% of overall outstanding loans, the Central Bank of Cyprus said recently.

Approximately 30 companies from Cyprus will accompany President Nicos Anastasiades, during his state visit to Bahrain, on January 27-29, 2015 when he will take part at a business forum, at the Bahrain Chamber of Commerce and Industry.

Cyprus Government has issued a tender for the appointment of a financial advisor that will proceed with the sale of former national airline Cyprus Airways trademarks and logos owned by the state.

The European Bank for Reconstruction and Development (EBRD) has upgraded its Cyprus real GDP growth forecast to 0.7% in 2015 from an earlier forecast of 0%.

The Central Cooperative Bank (CCB) announced recently it was cutting its rates for agricultural loans by an average 2.0%, in a bid to boost the sector as part of the effort for economic recovery.

The likelihood of left-wing Syriza coming first in the snap Greek elections due on January 25 has again raised the prospect of “Grexit” – Greece’s exit from the eurozone.

The year 2015 is one in which the economy is supposed to return to growth of 0.4% after three consecutive years of decline. This is what the government says, this is what the Troika says and this, plus another percentage point, is what the Central Bank governor says.

Low-cost airline Blue Air has launched its new base of operations in Cyprus, adding seven weekly flights to Athens and three to Thessaloniki.

A meeting chaired by President Nicos Anastasiades was held recently, to review the remaining valid offers in a tender put out by the Natural Gas Public Company (DEFA) for importing gas to be used for local electricity production, for a possible contract worth upwards of €3bn.