Cyprus and Egypt signed a Memorandum of Military and Defence Cooperation recently, further enhancing their relations.

Setting up a bad bank with government money to tackle the high stock of non-performing loans in Cyprus would require a second bailout, an official familiar with the economic developments has said.

Irena Georgiadou, Hellenic Bank’s chairwoman, said that a “regulatory hysteria” is detrimental for growth and banks need to operate in an environment which provides “the right balance” of regulation and growth.

Texas-based Noble Energy believes the Egyptian gas market is still open to other players despite the recent discovery of the massive Zohr prospect within Egyptian waters.

Property transactions in Cyprus rose an annual 23% to 403 in October, three months after the parliament passed a tax breaks package aiming at boosting activity in the real estate sector, after a 10% slump in August and a stabilisation in September, the department of land and surveys said.

French energy giant Total is rushing to meet a deadline in a last ditch effort to discover oil and gas deposits in Cyprus’ Exclusive Economic Zone southern part which borders Egypt’s rich ‘Zohr’ plot.

A European Union official says the economy of bailed-out Cyprus is projected to grow 2% annually until 2020.

The Association of Certified Anti-Money Laundering Specialists (ACAMS) announces its investment in supporting the professional AML and financial crime prevention sector in Cyprus.

Development expenditure is up by 12% for 2016 in the budget of the Ministry of Agriculture, Rural Development and Environment.

The new local airline Tus Air is expected to start flying soon, according to Transport Minister Marios Demetriades.