The stabilising of the global price of Brent crude oil to under $50 a barrel has led to a further fall in the price of fuel in Cyprus.

Gulf Air, Bahrain’s national carrier, has launched a week-long fare promotion from Larnaca giving competitive airfares for travel between now and April 30, 2015 on the airline’s triple weekly services from Larnaca to Bahrain and onwards to Dubai, Abu Dhabi, Bombay and Karachi.

Tourist arrivals rose 3.7% year on year in December 2014, the statistical service said recently, as the year closed with a 1.5% increase.

The European Investment Bank has announced it is considering a proposal from the Cyprus Organisation for Storage and Management of Oil Stocks (KODAP) to fund a new strategic storage terminal in Vasilikos, on the country's southern coast.

Ryanair recently extended its rescue fares for customers affected by the collapse of Cyprus Airways.

Cyprus FX brokers and investment firms are expected to declare that they are largely unaffected by the sudden appreciation of the Swiss Franc (CHF) when they report to the Cyprus Securities and Exchange Commission (CySEC) shortly.

During the ten month period January – October 2014, 4,180 building permits were issued, registering a decline of 6.4% compared to the same period of 2013, data showed recently.

The Central Bank of Cyprus (CBC) is monitoring the situation regarding Swiss franc, the Director of Bank Supervision & Regulation Department and Licensing Section of the Bank Yiangos Demetriou has said.

Retail trade value and volume rose in October 20014 a provisional 0.9% and 0.1% respectively compared to the month before, the statistical service said recently.

Non-performing loans in Cyprus’s banking system exceeded €28.2 billion on November 30, 2014, representing almost 49.7% of overall outstanding loans, the Central Bank of Cyprus said recently.