Central Bank of Cyprus (CBC) Governor Chrystalla Georghadji that based on the international experience, it will take three to five years with a growth rate of approximately 3% for non-performing loans (NPLs) to fall from 47% today to 10% of the total loan portfolio.

The Public Debt Management Office sold a total of €100m in 13-week treasury bills at a recent auction.

Revenue from tourism rose more than 17% in September to €321.1m compared to the respective month a year before, the statistical service said recently.

Netherlands-based global oil terminal company VTTI will on 28 November 2015 celebrate one year of successful operation of its sophisticated oil storage terminal at Vassilikos, Cyprus.

Cyprus has adopted national opt-out measures to ban or restrict cultivation of already authorised genetically modified organisms (GMOs), with the approval of the European Commission.

The Hellenic Bank returned to profitability in the third quarter of 2015, having adequate capital.

Non-performing loans (NPL), which are the biggest problem in the banking system in Cyprus, have reached a reversal point, the Central Bank of Cyprus (CBC) said recently.

The prospects of terminating Cyprus’ energy isolation through the creation of an energy union, together with its potential impact on enhancing energy security and contributing to lower energy costs for consumers were discussed during a seminar at the EU House in Nicosia.

Cyprus, assuming its global responsibility, in spite of its size and its difficult financial situation, is ready to contribute to the Green Climate Fund the sum of €350,000, Minister for Agriculture, Rural Development and Environment NicosKouyialis announced recently.

French oil and gas major Total is displaying a lively interest in Cyprus’ Exclusive Economic Zone (EEZ) after the discovery of a giant gas field in nearby Egyptian waters, the government said recently.