RCB Bank Ltd., the Limassol-based ‘systemic’ bank that passed the recent ECB capital strength tests with flying colours, has raised $124.2 mln in fresh equity by selling a 19.85% stake to Otkritie Financial Corporation Bank.

Nicosia and Cairo agreed recently to speed up talks for exporting Cypriot gas to Egypt as the island appeared to switch track from onshore LNG to pipelines.

Cyprus’ heavy reliance on fuel imports is highlighted in the latest report by the World Energy Council.

Makis Constantinides, who was appointed chairman of Cyprus Airways in August 2014, said he submitted his resignation to Finance Minister Harris Georgiades citing frustration over the lack of progress in the restructuring of the loss making airline.

A new centralised data base has been launched, cleaning, filtering, and mapping 145,000 real estate transactions across Cyprus and breaking them down by municipality, property type, and by price band.

Egypt’s petroleum minister said recently his country was speeding up talks with Cyprus to import natural gas for its own domestic use and for possible re-export to other countries.

E-commerce seems to be picking up in Cyprus, with more businesses saying they are taking online orders, according to the statistical service Cystat.

Foreign Minister Ioannis Kasoulides said recently that the government was looking into setting up an escrow account where it could deposit part of the natural gas revenues to be used for future generations.

The Central Bank of Cyprus will investigate how Laiki Bank received emergency liquidity assistance of more than €9 billion, it was announced recently.

Demand for 6-year Cyprus government retail bonds shot up to €27.4m in November 2014, with most of the interest coming from foreign investors.