Close to 3,400 Cypriots with deposits abroad have been charged €7.5 million in tax, lawmakers heard recently, as they discussed the issue of alleged tax evaders supposedly included on a list of people with deposits in HSBC Switzerland.

2014 ended with a slight increase in arrivals of 1.5%, or some 2.4 million, however 2015 is set to be a challenging year for tourism, according to Minister of Commerce Giorgos Lakkotrypis.

The Cyprus Institute (CyI) has been awarded a European Research Area (ERA) Chair grant of €2.5 million in the field of Solar Thermal Energy (STE).

Foreign Minister Ioannis Kasoulides believes Cyprus can exit its bailout programme with international lenders (EU Commission, IMF and ECB) by the end of 2015, if it makes the right moves.

Bank of Cyprus has immediately responded to the recent decision by the Central Bank of Cyprus to limit the maximum deposit rate offered by banks.

The Cyprus trade deficit widened by 14.5% in January to November 2014, according to figures released recently by the Statistical Service Cystat.

The Co-operative Central Bank (CCB) announced recently it will cut interest rates on well-performing housing loans by 1%, affecting about 34,000 households, while lender Hellenic has pledged to also lower its interest rates.

Qatar Airways recently celebrated the inauguration of its new city office in Nicosia and welcomed the increased frequencies on existing routes.

Authorities increased the cap for transfers to accounts abroad to €50,000 per person per credit institution, the Finance Ministry said recently.

Four students from the Technological University (TEPAK) have designed digital apps to enhance the experience of visitors to Limassol’s Pattichion Museum, the Historical Archives, the Heritage Museum and the zoo.