Τhe two Mediterranean islands, EU member states Malta (96%) and Cyprus (94%), had the highest shares of nights spent by non-residents in 2014, according to Eurostat.

Bank of Cyprus announced recently that the 567,188 ordinary shares resulting from the retail offer will start trading on the Cyprus Stock Exchange and the Athens Exchange on 2 February 2015.

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.