A new oil and gas exploration round in the island’s Exclusive Economic Zone (EEZ) was announced by the government recently.

Cyprus aims to maintain cash reserves amounting to €1 billion to manage risks for the Cypriot economy as the island’s €10 billion three-year economic adjustment programme, signed with the EU and the IMF expires on March 31, 2016.

Cyprus low-cost airline Cobalt has announced the signing of an agreement with the Cyprus Aerotechnical Services, (CAS), which will handle the day-to-day maintenance of Cobalt’s fleet of Airbus aircraft.

Parties pledge to submit their views on the casino regulations by end of February 2016, as MPs expect the issue to be finished by March this year.

The Transport Ministry is expected to select the preferred bidders for the Limassol Port commercialisation before the end of February 2016, Minister of Transport, Communications and Works Marios Demetriades has said.

Cypriot economy grew 1.6% in 2015 compared to the year before which was the highest rate in the past seven years”, Finance Minister Harris Georgiades said in a written statement.

Quarterly real GDP growth slowed to 0.4% in the fourth quarter of 2015 from 0.5% in the third, according to the flash estimate from the Statistical service Cystat.

Bank of Cyprus has again been awarded Best Private Banking in Cyprus by the internationally renowned journal Euromoney, according to a press release issue by BoC.

General Government budget balance registered a deficit of €82,5 million (0.5% of GDP) in 2015, compared to a deficit of €43m (0.2% of GDP) in 2014, an announcement from the Public Debt Management Office said.

The House recently passed two of six bills regulating the failure of banks and investment firms.