The Cyprus Tourism Organisation (CTO) said recently that bookings from the UK were 10-15% up for the summer period of 2015 compared to the same time last year.

The EU Representation in Cyprus recently held an information day for entrepreneurs interested in securing EU funding for business ventures.

Despite being sufficiently capitalised at present, a handful of large Russian investment firms operating in Cyprus may face risks relating to EU-imposed sanctions on their parent companies in Russia, Cyprus Securities and Exchange Commission (CySEC) chairwoman Demetra Kalogirou has said.

A tender has been issued for the appointment of an independent consultant to prepare a study concerning all possible outcomes on the future of the Electricity Authority of Cyprus (EAC), Privatisations commissioner Constantinos Herodotou said in an announcement recently.

The Central Bank Board of Directors will announce measures aiming at reducing lending rates, CBC Governor Chrystalla Georghadji recently told the Board of the Employers and Industrialists Federation.

The government is facing almost €2 billion in maturing debt this year, which excludes a €1.1 billion security, part of the debt issued to recapitalise Cyprus Popular Bank in 2012, the public debt management office said recently.

A total of 18 major development projects have been presented to around 40 internationally renowned investors during the Cyprus Investors summit.

The last year has seen a significant renewal of relations between Cyprus and Iran, with the exchange of new ambassadors and several trips by high-profile delegates.

Cyprus remains fully committed to the implementation of the adjustment programme with international lenders, Central Bank Governor Chrystalla Georghadji said recently.

Finance Minister Harris Georgiades said recently that things in the Cypriot economy “have improved significantly” following the banking crisis two years ago.