The foreclosures bill will not be submitted to the Cabinet for approval as it was originally scheduled as government legal services couldn’t review it on time, sources told the press.

Larnaca municipality has tasked Lloyd’s Register Energy with carrying out an independent study into the potential effects to the environment and public health from the operation of companies that provide support services to the natural gas and oil industry.

Cyprus has the highest increase in government debt to GDP ratio in the euro zone for the first quarter of 2014, with a registered 24.6% jump from 87.6% to 112.2%, according to recent figures issued by Eurostat.

Ryanair will probably submit an expression of interest in troubled Cyprus Airways which is up for sale, Chief Executive Michael O’Leary said recently.

The Buena Vista Hospitality Group recently officially announced its decision to base its regional headquarters in Cyprus and to develop the largest wellness resort in Europe.

Bank of Cyprus (BoC) is expected to open the book for offers on new shares shortly, as the island’s largest lender seeks to raise around €1bn ahead of an EU-wide stress test.

Finance ministry officials remain in lengthy talks with the troika of international lenders over some of the controversial provisions that would allow banks to foreclose insolvent borrowers’ properties.

Investment funds (IFs) in Cyprus have increased over time, a Central Bank of Cyprus press release says.

Finance Minister Harris Georgiades told lawmakers recently that an agreement has yet to be reached with the Troika on the foreclosures bill, while Cyprus’ international lenders argued that Cypriots can, and must, use their deposits to repay their non-performing loans (NPLs).

The RICS Cyprus Property Price Index has recorded a steady decline in the prices of residential houses and apartments across the island since its introduction in the last quarter of 2009.