Last week the international economic news was dominated the €1 trillion bond-buying by the European Central Bank (ECB), whereby the lender will buy bonds on the secondary market (ie from banks and other financial institutions) of countries with an investment-grade credit-rating.

Cyprus wants to boost its role as a regional maritime transport hub, building bridges between Europe, as the government speeds up plans to privatise its two main commercial ports.

The loans-to-deposits ratio of the island’s banking system widened in December, the first month that the Central Bank of Cyprus issued monetary statistics on the basis of the new regulations and the guideline of the European Central Bank.

Egypt has invited Cypriot businesses to bid for some of the €6 billion in large construction projects currently underway.

Digital Cyprus, a web-based open programming platform to host all kinds of information concerning Cyprus, is expected to open to the public by the middle of 2015.

By the end of 2015 it is expected that an agreement will be signed with an investor regarding the commercial activities of the Limassol port.

The government is seeking to upgrade its energy-saving policies, through a programme co-funded by the EU calling for more energy-sensitive buildings owned or rented by small and medium sized businesses.

Revenue from ship management fell 6.7% to €389 million in the first half of 2014, compared to the second half of 2013, and 3.2% compared to January to June 2013, the Central Bank said recently.

The government has begun discussing with Noble Energy how the company plans to develop their offshore Aphrodite prospect, Energy Minister Giorgos Lakkotrypis said recently.

Total oil and gas giant could stay in Cyprus despite the fact that it will not be drilling in Block 10 and 11, it has emerged.