The economic sentiment in Cyprus deteriorated for the second consecutive month in October, according to the monthly report of the Directorate General for Economic Affairs of the European Commission. The Economic Sentiment Indicator (ESI) fell to 98.8 points in October from 99.8 points in September. After four months of stagnation or decline, the ESI picked

The government will exhaust all efforts to attract investors` interest in Cyprus Airways, in accordance with international practices and the recommendations of the European Commission, Minister of Finance Harris Georgiades stated on Thursday. He noted that government planning aims to secure the rights of company employees and the country`s flight connectivity under any circumstances. In

Minister of Energy Giorgos Lakkotrypis said that a tripartite ministerial meeting between Cyprus, Greece and Egypt on energy issues will take place at a later stage, in the framework of the cooperation which has begun between the three countries. In statements after a meeting with a delegation of the European Party (EUROKO), Lakkotrypis noted that

The District Court of Paphos dismissed on Thursday a penal case against former Laiki strongman Andreas Vgenopoulos and his close confidante Efthymios Bouloutas saying that the claim that the former bankers and six other colluded to defraud the victim of 108,000 euros worth of bonds was baseless. The court ruled that in all three counts

Bank of Cyprus, the island’s biggest lender and one of four systemic banks that underwent Europe-wide capital stress tests over the weekend, is bracing for its second biggest shareholders’ meeting on November 20, when new investors led by fund manager Wilbur Ross are expected to take over. The bank, that raised €1 bln two months

Gulf Air, the national carrier of the Kingdom of Bahrain, has announced the upcoming launch of twice weekly services between Kuwait City and the Cypriot city of Larnaca in response to increased demand from the State of Kuwait. The airline will offer direct, twice weekly connections between Kuwait and Cyprus starting from 26 October. The

Hellenic Bank, one of the four Cyprus systemic banks that were subjected to capital stress tests by European banking authorities, is currently considering a fresh rights issue that will help it “more than cover” a €105 mln shortfall seen in the exercise. Under the three-scenario tests conducted by the European Central Bank and the European

Louis Cruises announces that ‘Lynceus’, a project developed by the Maritime Institute of Eastern Mediterranean in co-operation with European SMEs (small and medium entities) and RTDs (research and technology developers), was recently recognized by Lloyd’s List as the most innovative project for 2014 and has won the Global Lloyds List award for Innovation. The objective

Industrial production in Cyprus dropped by 0.8% in the first eight months of 2014 compared with the same period of the previous year, data released by the Cyprus Statistical Service, on Thursday, show. The Index of Industrial Production for August 2014 was recorded at 66.8 units (base 2010=100), dropping by 0.5% compared to August 2013.

The Ministers of Foreign Affairs of Cyprus, Greece and Egypt, Ioannis Kasoulides, Evangelos Venizelos and Sameh Hassan Shoukry respectively, have called on Turkey to terminate all unauthorised seismic operations in Cyprus` exclusive economic zone and refrain from any similar activity in the future. The three Ministers met on Wednesday in Nicosia and, according to Kasoulides,