The Bank of Cyprus reduced in September 2015 its dependence on the Emergency Liquidity Assistance (ELA) by €500m from €4.9b in August, according to figures released recently by the Central Bank of Cyprus.

Finance Minister Haris Georgiades has described the 2016 state budget and the medium-term plan 2016-18 as balanced, without new taxes and with targeted increase in development expenditure.

Wargaming has sold almost 50 million of its shares in Hellenic Bank to an unspecified buyer.

Chinese businessmen who met with Cypriot officials and businessmen during President Nicos Anastasiades' visit to China have shown an interest in participating in the process of privatisation of state owned operations and in investing in tourism and estates, an official said recently.

Cyprus will not need to request any additional financial aid from its international lenders when its bailout program runs out in March 2016, Finance Minister Harris Georgiades said recently.

Cyprus general government generated €11.6m budget surplus or 0.07% of GDP for the period of January-August 2015, compared to a €151.2m in the corresponding period of 2014, due to reduced government revenue.

ENI’s vision for a gas hub in the eastern Mediterranean includes Cyprus, Energy Minister Giorgos Lakkotrypis said recently.

A countdown for a return to the markets to raise millions has begun with presentations to investors by Cyprus international consultants in London.

The price index for construction materials fell by 2.37% from January to September 2015 compared with the same period of 2014, according to data released recently by the statistical service Cystat.

The Cypriot real economy is recovering, challenging the belief that a tight fiscal policy always leads to deeper recession, Minister of Finance Harris Georgiades told the 6th Limassol Economic Forum recently.