Hotels in Cyprus for May 2015 compared to last year “are more affordable” with a fall in prices since last year in all areas except Nicosia and Larnaca, the latter of which were already among Europe’s cheapest, according to travel site Trivago.

Cyprus’ government and Noble Energy announced in March 2015 that a declaration of commerciality will be made soon taking the Aphrodite gas field from the exploration phase into the exploitation phase.

Cyprus-based energy company Petrolia SE Group’s after-tax profit fell by almost 80% to $2.2 million in 2014 from $10.2 million the previous year because of falling oil prices, the company said in a statement on the Cyprus Stock Exchange.

USB Bank PLC will hold an extraordinary general meeting on May 28, 2015 to adopt resolutions to delist from the Cyprus Stock Exchangeand issue 40,800,000 new ordinary shares.

The unemployment rate dropped in April 2015 by 9% as the number of jobless decreased by 4,207 from April 2014.

The majority of lending rates registered significant decline in March 2015 reflecting the Central Bank's decision to reduce is highest deposit rate by one percentage point.

Cyprus Defence Minister Christoforos Fokaides and his Omani counterpart Sayyid Badr Bin Saud Bin Hareb Al Busaidi recently discussed issues of mutual interest in humanitarian missions and search and rescue operations.

The Finance Ministry’s Public Debt Management Office (PDMO) has accepted tenders for €150 mln, with at average yield of 2.47%, during a recent 13 week Treasury Bills Auction.

The government has signed a deal that will see the island’s strategic oil reserves moved from Larnaca to VTTV’s facilities in the Vassilikos area, Limassol.

The Employers' Association (OEV) helped stabilise the Cyprus economy in2014 by lowering labour costs, curbing unemployment, and supporting the government’s guaranteed minimum income (GMI) scheme, the body said in a statement recently.