Hellenic Bank, which according to the European Central Bank’s asset quality review lacked €105 million in capital, embarked on a road show spree recently, aiming at covering its capital shortfall and accumulating funds to further grow.

Neither Ryanair nor Aegean is ready to make a meaningful offer for Cyprus Airways (CY) and their terms are not in the public interest, said Finance Minister Harris Georgiades recently.

The number of building permits issued between January – August 2014 registered a decrease of 7.4%, compared to the corresponding period of the previous year, the Statistical Service said recently.

Josef Ackermann, who left Deutsche Bank in 2012, has been nominated as chairman of Bank of Cyprus.

Cyprus Tourism Organisation (CTO) delegation has represented Cyprus at the 53rd ICCA (International Congress and Convention Association) Congress and Exhibition held from 1 - 5 November, 2014 in Antalya, Turkey.

Imports increased sharply in September, while exports dropped, according to new Cyprus Statistical Service (Cystat) data.

Finance Minister Harris Georgiades has insisted that the government had taken “difficult but necessary decisions for reforming the economy, fixing the banking sector and consolidating public finances.”

The declaration signed at the Cairo summit is envisioned as an outline agreement between Cyprus, Greece and Egypt, one that can lead to a commercial deal involving hydrocarbons.

Tourist arrivals from the British market look set to increase in Paphos by as much as 15% next summer, the first time in a number of years, according to industry experts.

Supervisory authorities will grant a banking license to Ancoria Bank Limited, the first bank to open in Cyprus after last year’s banking crisis which saw the closure of Laiki Bank, the Central Bank said.