Hellenic Bank CEO Makis Keravnos resigns his post, citing his decision to allow new leadership to address the challenges facing the bank, which recently announced half-year losses of €96 million for 2014.

The latest developments on the Cyprus issue as well as the island's economic recession were discussed between President Nicos Anastasiades and the new European Commission President Jean Claude Juncker recently.

The Cyprus Stock Exchange (CSE) is intensifying its efforts to promote new initiatives such as Islamic Finance, says CEO Nondas Metaxas.

The Royal Dutch Airlines (KLM) reportedly announced that all flights from Amsterdam to Ben Gurion International Airport will include a stopover in Cyprus, a move introduced due to security concerns.

Total deposits in Cyprus Banks in July 2014 exhibited a net decrease of €153,3 million, as compared with a net decrease of €370,3 million in June 2014, according to data released recently by the Central Bank of Cyprus (CBC).

Bank of Cyprus (BoC) shareholders overwhelmingly approved a €1.0 billion capital raise recently, the biggest foreign direct investment in the island’s history.

The House plenary, scheduled to convene on Monday September 1, 2014 to discuss a series of draft bills on foreclosures, will be postponed until the end of that week, reports the Cyprus News Agency.

Authorities in Cyprus have extended the deadline for submission of non-binding expressions of interest in Cyprus Airways until Sept. 3, 2014, aiming to give possible bidders plenty of time to formulate their offers.

The government reiterated recently that the proposed foreclosures bill provides great opportunities for borrowers to protect themselves and their immovable property.

In the midst of critical deliberations with potential investors nominally interested in taking over Cyprus Airways, former permanent secretary at the Communications and Works ministry Makis Constantinides was confirmed recently as the government’s choice to replace outgoing Tony Antoniou at the helm of the ailing national carrier.