Economy of Cyprus

Cypriot lender Bank of Cyprus posted a profit of 76 million euros ($95 million) in the first nine months of the year, helped by the disposal of assets in Ukraine, Romania and Serbia.

It also said its shares would resume trading in mid December after an 18-month suspension.

Cyprus’s recession-hit economy contracted by 0.4 percent in the third quarter, matching the drop of the previous three months, official figures showed on Friday.

Buoyed by tourism income, Cyprus’s recession-hit economy contracted by a slower 0.3 percent in the second quarter, down from the 0.6 percent drop in the previous three months, official figures showed on Wednesday.

Although it was the 12th successive negative quarter for the Mediterranean island’s battered economy, the figures were unchanged from a flash estimate issued on August 14.

Croatia expecting 1.5 billion-euro tourism project