Overall loans in the Cypriot banking system rose by a monthly €307.7m to almost €62.8bn in December 2015, outstripping deposits which rose a monthly €203m to almost €46bn, the Central Bank of Cyprus said recently.

The non-performing loan ratio in the Cypriot banking system fell in November2015 to below 46.1% from 48% the month before, which is the lowest since January 2015, the Central Bank of Cyprus said.

The Larnaca municipal council is set to decide whether to grant a six-month extension to a company that provides logistics for oil and gas exploration.

The Minister of Energy George Lakkotrypis presented the Cypriot government’s energy strategy at the prestigious ‘Middle East and North Africa Energy’ conference, an annual event organised in London by Chatham House, the Royal Institute of International Relations.

Cyprus, Israel, and Greece held a historic summit recently, during which they agreed to strengthen co-operation between the three countries and invited others to join them in promoting co-operation and peace in the region.

Industrial production rose 7.4% in November 2015 compared to a year before mainly on a strong rise in manufacturing output, the statistical service said recently.

The recovery of the economic activity in Cyprus is projected to continue in the coming months of 2016 as GDP is expected to reach 2,7%

The Central Bank of Cyprus (CBC) informs customers of the Cyprus branch of Trasta Kommercbanka Bank that the Board of the Financial and Capital Market Commission (FCMC) of Latvia has imposed restrictions on the activities of the joint stock company Trasta Komercbanka.

The electrical connection between Cyprus, Israel and Greece through Eurasia inter-connector would improve the potential of Cyprus and Israel to further develop renewable energy sources (RES), said Eitan Parnass, Director General & Founder of the Green Energy Association of Israel and secretary of Global Solar Council.

British Gas will be joining the consortium which has the concession on Block 12 in Cyprus’ Exclusive Economic Zone (EEZ), Energy Minister Giorgos Lakkotrypis announced recently.