Annual harmonised inflation was slightly up in Cyprus in October 2014 (0.3%) compared to September (0.0%), recent data published by Eurostat show.

A team of Troika technocrats visiting Cyprus will extend its stay on the island to discuss the insolvency framework to be put in place on January 1 2015.

The European Central Bank’s (ECB) emergency liquidity assistance (ELA) to Cypriot banks remained unchanged at €7.68 billion in October 2014, figures released by Central Bank of Cyprus (CBC) show.

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.