Recession in Cyprus is projected to continue during 2015, the Economics Research Centre of the University of Cyprus said in its July Economic Outlook, forecasting a contraction in GDP of 0,7% for the next year, unlike a weak growth of 0,4% projected in the troika adjustment programme.

The Cyprus Ports Authority (CPA) will appoint a second consulting firm for the privatization of the commercial activities of the Limassol port as part of a privatisations plan to yield proceeds of €1.4 billion by 2018.

Bank of Cyprus, which has just raised €1b from investors, plans to sell up to €1b in bonds in September 2014, its CEO John Hourican told Reuters.

The European Bank for Reconstruction and Development announces itwould put in up to €120m of the €1b of new capital raised by Cyprus’s largest bank that was almost crippled by the country’s crisis.

TUI UK is promoting a new range of excursions in seven different countries, including Cyprus that have to meet minimum sustainability criteria, in order to offer an ethical holiday.

Property owners have six months to appeal the government’s evaluation of their real estate and correct any other mistakes made in the process of fixingimmovable property tax (IPT), officials said recently.

Bank of Cyprus announced the successful private placement 4.166.666.667 new ordinary shares at €0.24, completing the first phase of its capital raise.

The planning and implementation of the Rural Development Programme and the Operational Programme for Fisheries are part of the vision to create a ministry that is productive and evolutionary, providing employment and opportunities to the country and the economy, stated Agriculture Minister, Nicos Kouyialis recently.

International lenders concluded a fifth review of Cyprus’s economy recently, saying the island was making “relatively good progress” after a bailout last year but that key challenges lay ahead.

Even though more than nine out of ten Greek Cypriots believe the economy is bad, according to the latest Eurobarometer, they are relatively more optimistic in their overall opinions than the Autumn 2013 survey.