The Cyprus cabinet has given the green light for the opening of the third hydrocarbon exploration licensing round inside Cyprus’ Exclusive Economic Zone (EEZ). Energy Minister Giorgos Lakkotrypis was authorized to table before the cabinet,...
The Council of Ministers has given the green light to an Energy ministry proposal to include the BG Group (British Gas) in the consortium for Block 12 of Cyprus’ Exclusive Economic Zone (EEZ). Speaking after...
The House of Representatives approved the state budget for 2016 by a narrow majority on Thursday 17 December. The budget forecasts a 1.4% increase in state revenue to €5.9 billion, while total expenditure is estimated...
The Cyprus Statistical Service has confirmed that GDP grew in real terms by a seasonally adjusted 2.2% compared with the same period of the previous year in the third quarter—its strongest pace of growth since...
Cyprus, Greece and Egypt agreed on Wednesday 9 December to speed up talks to demarcate sea boundaries in the Eastern Mediterranean, as part of efforts to turn the region into an offshore natural gas hub....
The Bank of Cyprus has announced profits after tax of €73 million for the nine months ended 30 September 2015. Profit after tax from continuing operations were €115 million. The island’s biggest lender said it...
Moody’s, the international rating agency, has upgraded RCB Bank’s deposit ratings to B3 from Caa1, elevating it to the highest rated bank in Cyprus. According to a press release by RCB Bank, “this important upgrade…...
Noble Energy has submitted a request to the Republic of Cyprus seeking the approval of the island`s government to include Britain`s BG Group in a consortium holding rights over a gas field of Cyprus` drilling...
Moody’s Investors Service upgraded Cyprus’s sovereign credit rating by two notches to B1 on Friday 13 November and placed it on stable outlook, citing the faster than expected economic recovery and the outperformance of fiscal...
Cyprus` economy recorded a growth rate of 2.2% in the 3rd quarter of 2015, according to a flash estimate by the Statistical Service of Cyprus. This is the third consecutive quarter of growth after 14...
