Capital Intelligence, an international credit rating agency, announced recently that it has raised Bank of Cyprus (BoC) Financial Strength Rating (FSR) to 'B' on 'Stable' Outlook (from 'B-' on 'Positive').

CPB FBO Third Point Hellenic Recovery Fund LP and Wargaming Plc Ltd said they increased their respective stakes in Hellenic Bank Public Company Ltd.

Coastal town Paphos sold the most properties to foreigners during the period from 2010 to mid-2014 across Cyprus, a report by Cyprus Economic Intelligence said recently.

The International Monetary Fund (IMF), which together with the European Commission and the European Central Bank comprises the troika that supervises bailouts in the euro area, said it will not release the next tranche of bailout money earmarked for Cyprus.

ENI-KOGAS has not found enough commercially exploitable natural gas reserves in its first exploratory drill at the offshore Onasagoras field, the Energy Ministry said recently.

With the pace of decline in economic activity slowing in 2014, Ernts & Young (EY) believes Cyprus remains on track for a return to growth in 2015, with tourism and the services sector as the main driving forces.

Energy Minister Giorgos Lakkotrypis said the government will focus on the commercial exploitation of natural gas in the Aphrodite field offshore Cyprus.

The Research Promotion Foundation (RPF) will disburse funds amounting to €800,000 in the framework of the proclamation of four new international calls for research and technological development.

The House of Representatives has suspended until January 30, 2015 the implementation of the controversial bill on foreclosures of mortgaged property.

Bank of Cyprus CEO John Hourican told Forbes Magazine that raising the share capital of the island’s biggest lender which almost collapsed in 2013 has moved the debate from survival to value.