The VAVLITIS Group recently announced the completion of the project Porto Pafos The Residence, located on the Poseidonas seafront avenue at Kato Paphos overlooking the medieval castle of the town.

Paphos’ Chamber of Commerce and Industry has signed a series of cooperation agreements with the chambers of Ukrainian towns Cherkaskoi, Dnipropetrovsk, Kirovogradskoy, and Symskoy to strengthen sectors such as tourism, commerce, industry and business.

The Hellenic Bank board of directors has appointed Bert Pijls as the bank’s new CEO, the third person to manage the bank in as many months.

The floating charge, attached to the assets of a company, is one method employed by banks in Cyprus to ‘secure’ a loan (or a group of loans).

Cyprus’ trade deficit in the first nine months of the year widened €399.7 million to €2.8 billion the statistics department said.

Energy Minister Giorgos Lakkotrypis recently said the first drilling by ENI/KOGAS in the Onasagoras field in Cyprus Exclusive Economic Zone (EEZ) is crucial for the continuation of the exploration programme of the consortium.

The International Monetary Fund, part of the troika of international lenders, considers that the prior actions demanded by Cyprus’ adjustment programme have been fulfilled.

Cyprus, Greece and Egypt all signed the Cairo declaration recently, envisioning the promotion of peace, security and prosperity in the region.

The next visit to Cyprus by the Troika (IMF, ECB and EU Commission) for the sixth review of the programme will take place in early December 2014.

The number of applications submitted to the Department of Registrar of Companies and Official Receiver for the registration of new companies recorded an increase for the eighth consecutive month in October 2014.