Cyprus’ plans for the Aphrodite gas reservoir, following BG’s buy-in, remain on track with production possibly starting in 2020, Energy Minister Giorgos Lakkotrypis said recently.

The reduction of the high stock of non-performing loans remains Bank of Cyprus' top priority, the Banks management told an Annual General Meeting, held in Nicosia recently.

Cyprus government debt stood at €18.82 billion at the end of September 2015, with loans accounting for €12.23 billion of the total.

Moody’s rating agency have upgraded RCB Bank Ltd’s deposit ratings to B3 from Caa1, elevating it to the highest rated lender in Cyprus, a press release in Nicosia said recently.

The price index of construction materials for October 2015 declined to the lowest level since December 2010 according to figures released by the Cyprus Statistical Service recently.

Cyprus' biggest lender, Bank of Cyprus recently announced profits after tax of €73 million for the nine months ended 30 September 2015.

Bank of Cyprus’ board of directors decided to extend chief executive officer John Patrick Hourican’s contract for two more years.

British multinational oil and gas company BG Group has acquired a 35% stake in Cyprus’ offshore Block 12, following an agreement with concession holder and operator Noble Energy.

Only months after receiving an award from the European Business Awards as a National Champion in Innovation for the years 2015-16, hi-tech engineering company CyRIC has also been ranked by the European Research Ranking as the top organisation for research in Cyprus.

The island’s five golf courses brought in only 25,000 golfers out of a total number of tourist arrivals of almost 2.5 million last year, according to a recent analysis by a local paper.