Cyprus U.S. FATCA AgreementJanuary 2015
Cyprus and the U.S. signed on December 2, 2014 a IGA, inter government agreement.
The signed IGA, applying the FATCA is aimed to force foreign finance institutes to report money owned by American citizens to the U.S. authorities.
Cyprus Credit Rating UpgradeNovember 2013
The credit rating agency S&P upgraded on November 29, 2013 Cyprus' sovereign debt rating by one step to B-.
The agency added that its outlook for Cyprus' economy is stable.
Cyprus 1.3% Inflation RateApril 2013
According to a release by the Cyprus statistical office dated April 9, 2013 the inflation rate decreased in March 2013 to 1.3% compared to 1.8% in February 2013 and 3.5% in March 2012.
Cyprus Credit Rating DowngradeMarch 2013
S&P downgraded on March 21, 2013 Cyprus long term foreign currency credit rating from previous CCC+ down to CCC with a negative outlook.
Cyprus Credit Rating DowngradeJune 2012
Fitch credit rating agency downgraded on June 25, 2012 Cyprus credit rating to "junk", from previous BBB to BB+.
By lowering the credit rating to "junk" Fitch joins the other credit rating agencies S& P and Moody's.
Cyprus Inflation February 2012March 2012
The statistical service of Cyprus announced on March 6 2012 that the inflation, HICP, in February amounted to 3.1%, remaining the same as on January 2012 and February 2011.
Cyprus Credit Rating DowngradeAugust 2011
The Fitch credit rating agency downgraded on August 10 Cyprus's long term currency rating by two notches to BBB with a negative outlook.
The downgrade reflects fears the Cyprus would not be able to raise funds in the free markets to refinance the Cypriot debt.
Cyprus's Huge Gas Reserves PotentialFebruary 2011
According to the Cypriot newspaper Fileleftheros the French oil and gas institute Beicip revealed potential huge 12 gas fields in the informal boundaries between Cyprus and Greece, south west of Paphos.
Two ships chartered by Noble Energy are researching the seabed for potential gas and oil fields.
The researched seabed is located close to the newly found Israeli gas reserve, the Liviathan.
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