Also in the news...
Foreign Office travel advice updates
Latest travel information for British nationals affected by the situation in the Middle East.
Check if you need a UK visa
You may need a visa to come to the UK to visit, study or work.
Apply to use simplified declarations for imports you entered in your records without authorisation
Choose how you’ll make supplementary declarations for goods that you entered into your own records without authorisation.
UKEF backs Leicester sustainable packaging firm in Australian expansion
UK Export Finance announces support for a UK luxury sustainable packaging company to expand into new foreign markets.
Hundreds of new UK jobs as Nigerian companies confirm millions in investment
Hundreds of new UK jobs are set to be created as Nigerian companies scale up their operations, reinforcing Britain's position as a leading global business hub.
300 Million Euro Injection For Cypriot Economy & Small Businesses
The European Investment Bank announces plans to plough 300 million Euros into the Cypriot economy to support government development projects and further aid flaying businesses.
THOM MATTHEWS
On Thursday, the European Investment Bank (EIB) announced its plans to plough 300 million Euros into the Cypriot economy to support government development projects and further aid flaying businesses.
The cash injection is more than double the amount the Investment Bank typically lends Cyprus on an annual basis, and will be aimed at improving infrastructure and renewable energy projects. The bank?s vice president, Plutarchos Sakellaris, stated that it was a positive financial response to a negative financial situation. He also emphasised that affected small and medium sized businesses can expect to benefit, as can other crippled sectors.
The EIB will be meeting with the Cypriot Finance Minister, Charilaos Stavrakis, to discuss SME access to loans. The pair are expected to set a timetable for the regeneration of cash flow from banks to businesses, which hopefully be implemented over the next half-year. That said, Cyprus?s economy is anticipated to grow more rapidly than its regional Eurozone counterparts, with the exception of Slovakia.
The European Investment Bank sees total lending to increase by approximately 30% for the next two years.