Cyprus’ economy remained in recession in the third quarter of 2014, flash data showed recently, with the pace of decline flattening out because of a mild yearly increase in tourism revenue.

Bond credit ratings business Moody’s has upgraded Cyprus’ government bond rating to B3 from Caa3 and has also changed the outlook on the government bond rating to stable from positive.

Bank of Cyprus recently unveiled a new corporate financing scheme aimed particularly at companies employing young people.

Kazakhstan-Cyprus Business Forum called 'Cyprus is the international center of business and investment opportunities' took place in the city of Almaty recently.

Cyprus and Iceland have signed a double taxation agreement based on the OECD Model Convention for the Avoidance of Double Taxation on Income and on Capital, the Finance Ministry said in a statement recently.

Technocrats from Cyprus' international lenders, currently visiting the island, have discussed the proposed six bills on insolvency with leaders from political parties.

Cyprus’s economy contracted by 0.4% in the third quarter from the second, preliminary data shows, while output on the island nation declined 2.0% on a yearly basis.

Bank of Cyprus said recently it expected to list again on the Athens and Nicosia stock exchanges in December 2014.

Foreign direct investments (FDIs) into Cyprus are expected to have exceeded €2 bln in the past year, boosted by the mega-capital raising by Bank of Cyprus in September and Hellenic Bank earlier in 2014.

The European Parliament passes a joint resolution condemning Turkey for its actions within Cyprus’ EEZ and demanding Ankara withdraw its vessels from the area immediately.