* National oil company ‘must take initiative’ for EU   The amount of prospective oil and gas reserves in the Aphrodite offshore gasfield, as well as any other new discoveries will not be enough for companies like ExxonMobil to build and operate a liquefaction plant on the island, leaving the best option to send any

DBRS views positively the ongoing reduction in Cypriot banks’ non-performing loans, which after reaching a peak at the beginning of 2015, the NPL stock has been declining. This decline has mostly been driven by the non-financial corporations (NFCs) sector, the rating agency said, explaining that largely helped by loan restructurings of large firms, NPLs for

Mouflon Real Estate Investment Fund, the CySEC-licensed property investment fund in Cyprus, has already raised EUR 16 mln for its first instrument accumulating commercial properties, and aims to raise more that will invest in commercial and residential portfolios. Attracting overseas investors, primarily from non-EU countries such as Lebanon, the first fund has selected office properties

Unemployment dropped to 10% in the third quarter of 2017, from 12.9% in the same quarter last year, the Statistical Service Cystat said, adding that employment rose to 55.7%. According to the Labour Force Survey (LFS), the labour force in the third quarter of 2017 amounted to 427,042 persons or 61.9% of the population (males

Almost three in every four European are in favour of the common currency, according to the latest Eurobarometer quarterly survey, with the rate rising one percentage point from spring to 74%. In Cyprus, the support rate rose seven points to 67%, while the EU continues to enjoy popularity on the island, up seven points to

The Cyprus government plans to raise about EUR 1.2 bln to 1.5 bln from the markets next year, for which it has appointed seven banks “in order to further develop a well-functioning and efficient secondary market for the sovereign bonds of the Republic of Cyprus,” the Finance Ministry’s Public Debt Management Office said. It said

Cobalt Air has announced the remainder of its schedule for Summer 2018 which are available for sale via www.Cobalt.Aero and its leading travel agent partners in Cyprus and abroad. Key highlights include a summer service to London Gatwick that will operate seven times a week, with two flights on Saturdays. Athens will be flown twice

 * Banking system will also see the bad debts mountain contained   Hellenic Bank’s takeover of the ‘good assets’ of troubled Cyprus Co-op Bank, the state-owned former cooperatively owned lender, is a good deal for the buyer, according to an analyst. The deal will also involve the restructure of Hellenic as new investors pump more

 * With the greatest sporting event upon us it’s time to buy a new TV, order a pizza and get the beers in *   By Kyriacos Kiliaris   When the World Cup in Russia kicks-off on Thursday, Cypriot football fans will either be glued to their new TV at home and ordering pizza or