Work is expected to get underway on a 5-star luxury hotel in the heart of the Larnaca seafront, a project that is “greatly desired by everybody”, said the town’s mayor.

During the seven-month period January – July, 2014, some 3,009 building permits were issued, registering a decrease of 6.6% compared to the same period of 2013, official data showed recently.

Cyprus, Malta and Greece are considering to broaden their dialogue on maritime issues with the inclusion of the UK and Denmark, Minister of Communications and Works Marios Demetriades said recently.

Hotel-management chain Aqua Sol, owner and administrator of 15 hotels in Cyprus, Rhodes and Crete, along with its nine subsidiaries has been placed under receivership for its failure to comply with its contractual obligations with the Bank of Cyprus, it was announced recently.

Within the next two months all communities on the island will have free access to wireless internet hotspots, chairman of the House commerce, Lefteris Christoforou said recently.

President Nicos Anastasiades will next month attend a three-way summit in Cairo with his Greek and Egyptian counterparts to discuss ways of further boosting cooperation and relations among these three Mediterranean nations, and, from Nicosia’s perspective, as a bulwark against recent Turkish provocations inside Cyprus’ Exclusive Economic Zone (EEZ).

Cyprus’ Presidential envoy to Russia, Sotos Zackheos, met with the Russian Association of Industrialists and Entrepreneurs in Moscow to discuss trade relations between the two countries, a press release said recently.

Hellenic Bank, the island’s second biggest lender said the board will convene on October 25-26, 2014 to review capital matters as well as the financial results for the first 9 months.

Cyprus is ready to discuss ways of boosting liquidity for its credit-starved banks via an asset-buying programme mulled by the European Central Bank, Finance Minister Harris Georgiades said recently from Washington DC.

International lenders will release the next tranche of financial assistance only once Cyprus puts in place an effective foreclosures framework in line with the terms of its bailout agreement, a senior EU official said recently.