Cabinet recently gave the green light for the state to launch a search for a private investor to purchase the logo and name of the recently defunct Cyprus Airways.

Cypriot banks are taking steps to comply with the Foreign Account Tax Compliance Act (FATCA).

The Cyprus seasonally adjusted external current account recorded a deficit of €0,3 billion in Q3 2014, compared to a balance in the second quarter of 2014 and a deficit of €0,4 billion in the first quarter of 2014, according to a second estimate released by Eurostat, the statistical office of the European Union.

Slightly more than one in ten non-performing loans (NPLs) were restructured by September 30, 2014, the House Institutions Committee heard recently from the Central Bank of Cyprus (CBC).

Thirteen operators have expressed interest in Cyprus’ casino project, expected to cost some €500 million, MPs heard recently.

Aegean Airlines and Blue Air recently announced substantial expansion in operations to and from the island, in an attempt to profit form the market vacuum left by the former national carrier.

Cyprus ranks 14th among the 28 EU member states, according to the Innovation Union Scoreboard for 2014.

Bank of Cyprus has completed the third phase of its share capital increase with its retail offer to shareholders, it said recently.

Domestic credit card use in local retail was up 4% to €2.24 billion in 2014 while transactions of Cypriot card spending abroad fell 8% last year reaching €1.15 billion.

Producer prices in construction fell 0.4% in the third quarter of 2014 compared to a year before and rose 1% compared to the previous quarter, the statistical service said recently.