The Central Bank governor said recently that all capital controls in currency outflows abroad would be lifted once the island’s banking system stabilised, saying she anticipated that could be soon.

The transport sector recorded an increase of 0.8% for the period July - September 2014, compared to the corresponding period last year, the Statistical Service of the Republic of Cyprus announced recently.

RCB Bank Ltd., one of four local systemic banks that underwent stringent capital stress tests by the European Central Bank in October 2014, has topped the Cyprus Banks Reliability Rating, an index conducted by RAI for the portal Stockwatch.

Cyprus is expected to return to growth in 2015 and this year’s slowdown should be shallower than expected, its central bank governor said recently.

VTTV recently took delivery of phase one of its fuel terminal at Vassilikos that boasts a storage capacity of 544,000 cubic metres and a jetty, which can service 500 tankers a year.

Bank deposits marked a fifth consecutive decline in October 2014, figures released by the Central Bank of Cyprus show.

Minister of Energy George Lakkotrypis and German Ambassador to Cyprus Nikolai von Schoepff have agreed to work on bringing more manufacturing companies to Cyprus.

The Institute of Certified Public Accountants of Cyprus (ICPAC) said that action is needed to mitigate the impact on the local financial services sector from a recent Russian law cracking down on Russian offshore business.

The viability of Cyprus Airways (CY) is key for the EU to approve the ailing airline’s restructuring plan, the state aid commissioner’s office said recently, but as things stand it will not be given the green light.

President Nicos Anastasiades said recently he would resign if a probe found that he was in any way involved in the procedure to sell national carrier Cyprus Airways.