Cabinet approves a training programme for hotel employeesaiming at extending the tourism season and combating seasonality.

Cyprus was one of the 51 countries, which, on October 21, 2014, subscribed to the multiparty agreement on the automatic exchange of financial data aiming at clamping down on tax evasion, tax avoidance and safeguarding transparency at an Organisation of Economic Cooperation and Development meeting in Berlin, the finance ministry said.

Investors have shown an interest in the privatisation of Limassol port, Communications and Works Minister Marios Demetriades said recently.

Emirates is offering special fares in Economy Class to six selected destinations for leisure and business passengers in Cyprus.

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.