The European Investment Bank has announced it is considering a proposal from the Cyprus Organisation for Storage and Management of Oil Stocks (KODAP) to fund a new strategic storage terminal in Vasilikos, on the country's southern coast.

Ryanair recently extended its rescue fares for customers affected by the collapse of Cyprus Airways.

Cyprus FX brokers and investment firms are expected to declare that they are largely unaffected by the sudden appreciation of the Swiss Franc (CHF) when they report to the Cyprus Securities and Exchange Commission (CySEC) shortly.

During the ten month period January – October 2014, 4,180 building permits were issued, registering a decline of 6.4% compared to the same period of 2013, data showed recently.

The Central Bank of Cyprus (CBC) is monitoring the situation regarding Swiss franc, the Director of Bank Supervision & Regulation Department and Licensing Section of the Bank Yiangos Demetriou has said.

Retail trade value and volume rose in October 20014 a provisional 0.9% and 0.1% respectively compared to the month before, the statistical service said recently.

Non-performing loans in Cyprus’s banking system exceeded €28.2 billion on November 30, 2014, representing almost 49.7% of overall outstanding loans, the Central Bank of Cyprus said recently.

Approximately 30 companies from Cyprus will accompany President Nicos Anastasiades, during his state visit to Bahrain, on January 27-29, 2015 when he will take part at a business forum, at the Bahrain Chamber of Commerce and Industry.

Cyprus Government has issued a tender for the appointment of a financial advisor that will proceed with the sale of former national airline Cyprus Airways trademarks and logos owned by the state.

The European Bank for Reconstruction and Development (EBRD) has upgraded its Cyprus real GDP growth forecast to 0.7% in 2015 from an earlier forecast of 0%.