The sectors of accommodation and food service activities recorded an annual increase of 4.2% in 2014, according to the Statistical Service Cystat, a trend underlined by recent tourism data that showed an increase in arrivals but a slight fall in money spent by tourists.

Cyprus posted a seasonally adjusted 16.1% unemployment rate in January 2015, the fourth largest in the European Union and third largest in the euro area, down from 16.4% the month before and 15.7% a year ago, Eurostat said recently.

The number of real estate transactions during 2014 was up 20%, reaching 4,527, compared to 2013.

Noble Energy sees a “huge opportunity” in the Eastern Mediterranean, according to recent statements made during presentations to investors.

The French Embassy, along with Cypriot and EU institutions and civil society will be launching an awareness campaign and prepare to mobilise as part of the debate on the ‘Paris Protocol' late in 2015.

A 16% annual increase in December 2014 revenue from tourism to €43.7m was unable to offset lost ground during the rest of the year, the statistical service said.

Hellenic Bank recently announced an operating profit before provisions of €158 million for 2014, an increase of 22% on 2013,however the year ended with losses of € 119 million.

The French government hopes that an agreement would be reached between the Cyprus government and French oil-giant Total that will allow the company to proceed with further seismic surveys in block 11 of the island’s exclusive economic zone.

The government sold more than €10.7m in 6-year bonds to a total of 57 individual investors, the public debt management office said recently.

The Co-operative Central Bank (CCB) has announced further lending rate reductions starting on 1 March 2015, expected to benefit some 132,000 borrowers.