Foreign Minister Ioannis Kasoulides believes Cyprus can exit its bailout programme with international lenders (EU Commission, IMF and ECB) by the end of 2015, if it makes the right moves.

Bank of Cyprus has immediately responded to the recent decision by the Central Bank of Cyprus to limit the maximum deposit rate offered by banks.

The Cyprus trade deficit widened by 14.5% in January to November 2014, according to figures released recently by the Statistical Service Cystat.

The Co-operative Central Bank (CCB) announced recently it will cut interest rates on well-performing housing loans by 1%, affecting about 34,000 households, while lender Hellenic has pledged to also lower its interest rates.

Qatar Airways recently celebrated the inauguration of its new city office in Nicosia and welcomed the increased frequencies on existing routes.

Authorities increased the cap for transfers to accounts abroad to €50,000 per person per credit institution, the Finance Ministry said recently.

Four students from the Technological University (TEPAK) have designed digital apps to enhance the experience of visitors to Limassol’s Pattichion Museum, the Historical Archives, the Heritage Museum and the zoo.

Cyprus and Russia recently initialled the protocol of the 8th meeting of their Intergovernmental Committee for Economic Cooperation.

Cyprus and Egypt recently signed a Memorandum of Understanding (MoU) on cooperation in the field of oil and gas.

The Central Bank of Cyprus has announced a reduction of its maximum deposit rate for commercial banks by 1%, in hopes that this will encourage them to lower their own interest rates.