Ryanair's chief executive said recently the Irish low-cost airline plans to pursue a takeover of Cyprus Airways, with the aim of setting up a hub to serve the Middle East.

Cyprus economy is heading in the right direction and new foreign investment has started to flow in, said the Cyprus Investment Promotion Agency Chairman recently, referring to government incentives.

A cooperation agreement for a comprehensive training programme on hydrocarbons was signed recently by the University of Nicosia and the Mediterranean Institute of Hydrocarbons Technology (MIHT).

Money is not the only factor that will be taken into consideration when deciding on who would be the strategic investor for Cyprus Airways (CY), said Communication and Works Minister Marios Demetriades recently.

Cyprus ten-year bond yield declined to a four-year low in the backdrop of the ECB's decision to purchase private sector credit, including asset-backed securities and covered bonds.

President Nicos Anastasiades has assured that his government acknowledges its responsibility to draft a national strategy on tourism and guide the efforts of all involved parties in the continuous development of the tourist industry.

The bankruptcy of another Russian tourist agency will not affect the number of arrivals in Cyprus said President of the Association of Cyprus Travel Agents (ACTA) Victor Mantovanis, noting however that Cyprus should stop depending on a small number of markets.

Inflation rate recorded a slight slowdown in August 2014, with an annual increase of 0,8% compared to 0,9% in July 2014, according to the Statistical Service.

Hellenic Bank announced recently that Marinos S Yannopoulos is its new Chief Executive Officer (CEO).

Trade deficit recorded an increase of 7.9% in the period January-June 2014, amounting to €1.607,0 mn, compared to €1.488,6 mn in the corresponding period of 2013, according to data released by the Statistical Service.