With correct planning, Cyprus could quickly have a Gross Domestic Product of €30 billion, the CEO of Bank of Cyprus John Hourican said recently.

France’s Total is close to extending an offshore natural gas exploration programme in Cyprus after coming up empty in prior surveys, Energy Minister Giorgos Lakkotrypis said recently.

The Central Bank of Cyprus said that the resolution authority decided to strengthen governance levels in the administrative team of the legacy of Cyprus Popular Bank, after reports emerged in the press that investor interest in acquiring its Bank of Cyprus stake remained unanswered.

Hellenic Bank will pay 1.579% interest on its Bonds 2016 (HBDF) for the period 1 January 2015 to 31 March 2015 on 31 March 2015, the bank said in a statement on the Cyprus Stock Exchange.

The guarantor’s obligation to repay any amount outstanding after considering the value of any collateral posted by borrowers is included in the fifth and final insolvency bill, which was approved by the cabinet recently.

Finance Minister Harris Georgiades expressed recently his optimism that Parliament would pass the five bills pertaining to the insolvency framework and that it would allow for the implementation of a foreclosures legislation soon.

The property development sector has brought in over €1 billion in fresh capital from abroad since 2013, President of the Cyprus Land and Building Developers Association Pantelis Leptos said recently.

Energy Minister Giorgos Lakkotrypis recently left for the US for a series of meetings in Washington, New York and Boston.

Cyprus and Bahrain have signed a series of agreements, including deals on tax issues, terrorism and crime, while Bahrain will also for the first time ever, accredit an ambassador to Cyprus.

The rate of inflation for February 2015 decreased by -1.4% compared to -1.3% in January 2015 and -2.6% in February 2014, according to the Statistical Service of the Republic of Cyprus.