The government wants to build up its cash reserves from €200 m at present to about €500 m by the end of 2015, representing half the amount it intends to hold in liquid assets and to reduce the risk factor related to foreign borrowing.

The monthly Economic Sentiment Indicator (ESI) compiled by the Economics and Research Centre of the University of Cyprus saw an improvement of 2.1 points to 105.2 in December 2014, compared to the previous month’s survey.

Recent drilling results at a prospective offshore gas field should not be a cause for disappointment, President Nicos Anastasiades said recently.

The Cabinet has forwarded to parliament a bill governing the establishment, operation and monitoring of casinos, it was announced recently.

According to the results of the Labour Force Survey for the 3rd quarter of 2014, the number of employed persons amounted to 366,307 (men 187,314 and women 178,993) while the number of unemployed reached 69,895 (men 37,906 and women 31,989).

Foreign investors bid for more than three times the amount of retail bonds offered by Cyprus in December 2014 and bought the vast majority of six-year issue, the Finance Ministry said recently.

The Cyprus Statistical Service has said a 1.4% increase in tourist arrivals was recorded between January-November 2014, with 2.384.375 people visiting the island.

A new route to Paphos is to be introduced by Thomson and First Choice from Bristol airport for winter 2015-16.

Wizz Air, the largest low-cost airline in Central and Eastern Europe, announced further growth of its low fare route network from Poland operating more flights to Larnaca.

Senvest International LLC said recently its stake in Hellenic Bank rose to over 5.03% from 2.62% as it owns 364,660,947 shares.