Telecommunications firm GO plc takes shareholding in Cypriot ‘triple play’ telecommunications company Cablenet.

Economic climate improves in Cyprus in March as the Economic Sentiment Indicator increases by 1.3 points, compared to the previous month, says the Economics Research Centre of the University of Cyprus.

Total sales of petroleum products in February 2014 recorded a decrease of 4.9%, compared to the previous month, says the Statistical Service.

The Index of Production in construction registered a decline of 31.1% for the period January-December 2013, over the corresponding period of 2012.

Plans to split BoC into a ‘good bank’ with core operations and a ‘bad bank’ with all its liabilities, as suggested by advisors HSBC, are not a priority, with the main issue at present being the restructure of the island’s biggest lender, its chief executive says.

The Bank of Cyprus announces its audited results for 2013, with losses adjusted upwards from the preliminary figures released a month earlier by €10 million to €2.05 billion.

Cyprus has secured funding from NER300 of a pilot project, amounting to €50 million for the installment of 3,000 smart meters on the island.

Cyprus has not suffered deteriorating relations between Moscow and the West over Ukraine crisis and some have seen benefits.

Cyprus will await the outcome of offshore drilling this year and the next before deciding on a potential new licensing round, says the Energy Minister.

Private-sector deposits declined slightly in Cypriot banks in February, but still reflected broad stabilisation after 18 months of falls, according to ECB.