Daniele Nouy, chair of the supervisory board of the single supervisory mechanism (SSM) at the European Central Bank (ECB), has expressed the view that many measures have been taken to stabilize the banking sector and the economy, adding at the same time that the banking union would help restore confidence in the banking sector in Cyprus.

MeritKapital (MK) announces its admittance into the Cyprus Stock Exchange (CSE) as a 'Broker and Clearing member firm', which should attract considerable trading interest once the new Bank of Cyprus shares resume trading on the exchange, estimated in the fourth quarter of 2014.

The Council of Ministers has approved a bill on forclosures of mortgaged properties entitled 'The activities of Credit Institutions (Amendment) Law of 2014'.

Turkish companies in the energy field have sounded out Cyprus in relation to the supply of natural gas from the Republic's exclusive economic zone, President Nicos Anastasiades tells local media.

Efforts to sell state-carrier Cyprus Airways continue with representatives of Aegean airlines arriving on the island.

The Stelios Philanthropic Foundation has announced the sixth competition for entrepreneurs – the Stelios Award for Business Cooperation in Cyprus – with a view to promote island-wide, bi-communal business cooperation.

Bank of Cyprus (BoC) said recently it had received just over €100m in offers for shares from existing shareholders during the process known as the ‘clawback’.

A standing government team of technocrats and officials is to begin negotiations with the ENI-KOGAS consortium and with France’s Total with the aim of concluding LNG project agreements.

The Price Index of Construction Materials increased by 1.68% between January and July, compared to the same period in 2013, the Statistical Service of Cyprus announced recently.

Cyprus may still be deadlocked over the controversial foreclosures bill, but the troika of international lenders are already a step ahead with plans on how banks are to recover delinquent and bad loans.