The total spent by manufacturing industry on environmental protection in Cyprus in 2013 totaled €30.5 million, or 0.17% of GDP, the statistical service Cystat said recently.

Cyprus’ revenue from tourism increased 1.4% to €254.8mn from January – April 2015 compared with €251.4mn during the same period last year, according to the Statistical Service of Cyprus.

Total Research and Development (R&D) expenditure in Cyprus in 2013 is estimated at €83.8 million, which corresponds to 0.46% of the Gross Domestic Product, compared to €83.3 million or 0.43% of the GDP in 2012.

President Nicos Anastasiades said recently that Cyprus would stand with Greece in its efforts to achieve the restructuring of its bailout terms in order to make the debt more sustainable.

Large shipping organisations have expressed interest in the commercial activities of Limassol Port, Minister of Transport, Communications and Works Marios Demetriades said recently.

High employee turnover is expensive and damaging to a company’s bottom line. Finding and training a replacement employee is estimated to cost almost twice an employee’s salary, not to mention the lasting damage it leaves on remaining employees’ morale.

Hiring top talent is vital to the success of your business. Once you have selected your employee it’s essential to be adequately prepared for their arrival, preparing all paperwork, providing them with a company code of conduct and organising their workspace with all the relevant tools (including building access, system and email access etc).

Bank of Cyprus (BoC) is close to shedding its Russian subsidiary Uniastrum, according to bank sources, with St Petersburg-based Baltinvestbank the frontrunner according to reports in the Russian press.

The Central Bank of Cyprus has begun purchases of Cypriot government bonds in the context of the European Central Bank Quantitative Easing Programme (QE), CBC Spokeswoman Aliki Stylianou said recently.

Bank of Cyprus announced recently that JEREMIE-III, the current phase of its lending scheme for small to medium sized enterprises (SMEs), expires on September 15, 2015, having already allocated €31 mln to 460 corporate borrowers.