Cyprus and Guernsey have signed a comprehensive double taxation agreement.

The trade deficit in the first five months of the year rose to €1.33 bln, compared to €1.22 bln in the same period of 2013, data released by the Statistical Service Cystat has shown.

Parliamentary parties, with the exception of the ruling Democratic Rally, said recently that the foreclosures legislation could not pass as it is and asked the government to renegotiate the bill with the Troika of international lenders, who refused to do so.

Cyprus is seeking EU compensation for farmers and producers who have been badly hit by the prolonged drought said Agriculture Minister Nikos Kouyialis recently.

American billionaire Wilbur Ross, a potential stakeholder in the Bank of Cyprus, has set the repossession bill as a prerequisite for his €400 million investment that will increase the bank’s capital in time for EU stress tests.

Four Cyprus participants are amongst 15 partners from seven member states taking part in EU-funded research aiming to make cruise ships safer.

Current Bank of Cyprus shareholders can use their fix term deposits to buy shares of the bank as part of the share capital increase programme underway, the lender said recently.

Cyprus agricultural exports to Russia reached €13.5 million in 2013, representing 61% of total exports to the country, recent Trade Ministry data showed.

Revenue from tourism rose 10.8% year-on-year in May 2014, to €224.1 million, compared with €201.1 million in 2013, the statistical service said recently.

The rate of inflation in July 2014 decreased by -0.6%, compared to -1.2% in June 2014 and -0.3% in July 2013, the Statistical Service said recently.