The floating charge, attached to the assets of a company, is one method employed by banks in Cyprus to ‘secure’ a loan (or a group of loans).

Cyprus’ trade deficit in the first nine months of the year widened €399.7 million to €2.8 billion the statistics department said.

Energy Minister Giorgos Lakkotrypis recently said the first drilling by ENI/KOGAS in the Onasagoras field in Cyprus Exclusive Economic Zone (EEZ) is crucial for the continuation of the exploration programme of the consortium.

The International Monetary Fund, part of the troika of international lenders, considers that the prior actions demanded by Cyprus’ adjustment programme have been fulfilled.

Cyprus, Greece and Egypt all signed the Cairo declaration recently, envisioning the promotion of peace, security and prosperity in the region.

The next visit to Cyprus by the Troika (IMF, ECB and EU Commission) for the sixth review of the programme will take place in early December 2014.

The number of applications submitted to the Department of Registrar of Companies and Official Receiver for the registration of new companies recorded an increase for the eighth consecutive month in October 2014.

Londa Beach, Limassol’s first boutique hotel, is proud to announce that it has recently joined the elite ranks of Small Luxury Hotels of the World™, with over 520 hotels in 80 countries, all chosen for their unique character, personal service and memorable experiences.

The government posted a €219.1 million fiscal surplus in the third quarter of the year, compared with a €83.5 million deficit a year before, on a strong rise of revenue accompanied by a considerable reduction in spending, the statistical service said recently.

Eurozone finance ministers approve handing out the next tranche of bailout loans for Cyprus after the country met the last two conditions for the payout.