Closed-ended investment company Aurora Russia Ltd says it has sold its Cyprus subsidiary Flexinvest Ltd, which owns OJSC Flexbank, to an unnamed firm in a deal worth £3.2 million sterling.

The sector of accommodation and food service activities recorded a decrease of 1.9% for 2013, compared to the corresponding last period in 2012, the Statistical Service of Cyprus announces.

The Industrial Output Prices Index for January 2014 reached 106.7 units, recording a decrease of 0.1% compared to December 2013, the Statistical Service announces.

The unemployment rate in Cyprus has dropped to 16.8% but still registered the highest annual increase in Europe, according to official Eurostat figures released recently.

Paphos has been recognised as one of the best wedding destinations in the world by travelers in an online poll.

A pioneering Centre for Innovation, Entrepreneurship and Employment (ΚΕΑ) has recently started operations, with the declared aim of combating recession and unemployment in Cyprus.

Energy Minister George Lakkotrypis resigns as a member of DIKO, in disagreement with the party’s recent decision to leave the government coalition.

Bank of Cyprus, the lender which was recapitalised by bailing in depositors last year, posted a full-year loss of €2.04 billion for 2013, narrowing from a €2.21 billion loss in 2012.

The Transport Sector recorded a decrease of 3% in 2013, compared to 2012, according to data released by the Statistical Service of Cyprus.

The gender pay gap in Cyprus shrank noticeably and, along with Greece, recorded a better performance than the average of the EU.