In the face of the foreclosures bill, Bank of Cyprus' CEO John Hourican recently assured mortgagers that repossession is not a Bank of Cyprus priority, nor will home auctions money ever be a source of profit for the bank.

The award winning, five-star and first-ever leisure, golf and real estate development in Cyprus, the Aphrodite Hills has won the World Travel Award 2014 for 'Cyprus Leading Suite, Presidential 'Enalia'.

The Institute of International Finance (IIF) believes that the adoption and effective implementation of the foreclosure law is “critical” for the economy of Cyprus, noting at the same time that this is “subject to heightened uncertainty”.

Larnaca port will not host energy or industrial facilities, the cabinet has decided, and facilities currently operating there will be moved to Limassol when their contract expires.

Government Spokesman Nicos Christodoulides has welcomed an announcement by international credit rating agency Moody's on the completion of the first phase of the Bank of Cyprus' capital increase.

The process of restructuring of non-performing loans (NPLs) in the Cooperative Credit Institutions is fully on track said sources from the sector recently.

The Ministry of Finance has issued the twenty-third decree imposing restrictive measures on transactions of foreign banks in case of emergency.

The government wants any potential strategic investor in Cyprus Airways (CY) to keep the airline’s name, maintain the company base in Cyprus and some air routes considered of key importance to Cypriots, it transpired at a meeting to evaluate expressions of interest.

The government recently released the 'integrated casino resort policy outline', with the view to fast-tracking licensing the first casino resort complex in Cyprus is to attractforeign investment.

Due to its recent capital increase Bank of Cyprus now seems to be far better capitalised than many of its peers that will be subjected to excruciating EU wide stress tests in October, 2014.