Revenue from ship management fell 6.7% to €389 million in the first half of 2014, compared to the second half of 2013, and 3.2% compared to January to June 2013, the Central Bank said recently.

The government has begun discussing with Noble Energy how the company plans to develop their offshore Aphrodite prospect, Energy Minister Giorgos Lakkotrypis said recently.

Total oil and gas giant could stay in Cyprus despite the fact that it will not be drilling in Block 10 and 11, it has emerged.

The Ministry of Energy and US Noble Energy continue their negotiations with regard to the company's plans for the commercial exploitation of natural gas in Aphrodite field in Cyprus' offshore Exclusive Economic Zone.

Hala Abu Dhabi, the destination management division of Etihad Airways, has signed agreements with Xenos Travel and Top Kinisis, two leading tour operators in Cyprus, to promote Abu Dhabi as a stopover destination for passengers transiting in the UAE capital.

The economy is projected to have shrank 2.2% in 2014 and shrink a further 0.4% this year while downside risks may further delay economic recovery, the University of Cyprus said recently.

Total fuel sales fell 3.8% in 2014 to 1.3 million tonnes compared to 2013 mainly on a slump in the diesel sales, the statistical service said recently.

Construction of the Ayia Napa marina project will start as soon as building permits have been issued and tenders have been invited for contractor work, local development powerhouse Caramondani Bros’ Yerasimos Caramondanis said recently.

The privatisation of several state and semi-state organisations, including the Cyprus Telecommunications Authority (CyTA), is scheduled to take place in 2015, according to the Finance Ministry.

A Troika technical mission has begun contacts in Nicosia to review the implementation of Cyprus’ bailout adjustment programme.