Consumer prices fell an annual 1.4% last year which is a historical low for Cyprus, on declining energy prices while defying the impact of recent consumer tax hikes, the statistical service said recently.

Cyprus plans two international debt issues this year, its finance minister said recently, seeking a firmer footing in markets after a near meltdown in 2013.

Demetra Investment Plc Ltd which owns more than 10% of Hellenic Bank’s share capital, said that the net asset value of its share on December 31, 2014 was €0.7069.

Cyprus’ natural gas reserves would be best utilised for chemical production and domestic consumption, an American/Canadian company TRU Group has proposed.

The total number of property transactions rose an annual 20% in 2014 to 4,527, the department of lands and surveys said recently.

New foreign company legislation is set to come into effect in Cyprus on 1st January 2015 which will affect many offshore company structures established in Cyprus. The legislation, known as the Deoffshorisation Law, was approved by Russia’s State Duma on 18th November 2014 in an effort to establish a mechanism for the taxation of incomes of controlled foreign companies (CFC).

FXPRIMUS, the Mauritius-based FX/CFD broker, announced recently that its European entity, FX Primus Europe (CY) Ltd. has been granted a CySEC Investment Firm (CIF) License from the Cyprus Securities & Exchange Commission.

The Cyprus Tourism Organisation (CTO) is continuing and intensifying efforts to project and improve the country’s tourism industry.

A vessel looking for liquid and natural gas (LNG) is expected to begin drilling in the Amathusa well of Cyprus Exclusive Economic Zone (EEZ) on January 6, 2014 despite continuous provocations from Turkey.

The government recently announced a €10 million grant scheme earmarked for businesses investing in research and innovation.