The mobile telephony and electricity grids in the south and north of the island will be linked by the end of July, as part of confidence-building measures (CBMs) agreed between the Greek Cypriot and Turkish Cypriot leaders, Cyprus Chamber of Commerce and Industry head Fidias Pilides said recently.

Petrolina (Holdings) Public Ltd has completed the construction of petroleum storage depots, in preparation for its move from Larnaca to the new base in Vasiliko, shareholders heard at its annual general meeting (AGM) on 17 June 2015.

Non-performing loans in Cyprus' banks remained at the same high levels at the end of March 2015, according to the latest figures released by the Central Bank of Cyprus.

The International Monetary Fund (IMF) published recently its report on the completion of the fifth, sixth, and seventh reviews of Cyprus’ reform program.

The trade deficit widened further in the first quarter of 2015, after two consecutive months of relative stability in imports and increase in exports, according to the statistical service Cystat.

Tax on propane for gas-fuelled cars has been set at €0.07 per litre, which is the minimum allowed by the European Commisison, and will remain fixed for seven years until 2022, Energy Minister Giorgos Lakkotrypis recently announced.

The government plans to revisit cutting property transfer fees by half as part of legislation integrating immovable property tax, Interior Minister Socratis Hasikos said recently.

After a short, 18-month stint at the Co-operative Central Bank’s helm, executive head Marios Clerides resigned his post recently.

Recent figures show a total of 103 applications for the registration of new companies were filed in the Companies Registrar in May 2015 marking a reduction of 10.6% compared with the corresponding period of 2014.

Cyprus annual inflation remained steady in May 2015 at -1,7%, compared to April 2015, while Euro area annual inflation was 0.3% in May 2015 , up from 0.0% in April.