The Cypriot economy shrank by 2.4% in 2012 compared to growth of 0.5% in 2011, according to a report released recently by the Cyprus Statistical Service entitled 'Labour Statistics' for the year.

DISY MEP Christos Stylianides will be the next Cypriot in the new European Commission headed by President-elect Jean-Claude Juncker, it was revealed recently.

The foreclosures bill was recently passed by the House of Representatives, which will facilitate the next tranche of bailout funding to Cyprus by the troika of international lenders.

An award-winning innovation promising to provide sustainable energy at highly competitive prices is being introduced to the island.

PwC Cyprus has taken 70 young university graduates who will join the firm’s training programmes to qualify as chartered accountants.

Revenue from tourism increased by €43.4 million in June, 2014, compared to the same month in 2013, while during the first half of the year, revenue increased by €81.1 million, according to the Statistical Services.

The economic impact on Cyprus of the Russian embargo on agricultural products from the EU was raised by President Nicos Anastasiades with the European Commissioner for Trade Karel De Gucht in Nicosia recently.

The number of applications submitted to the Department of the Registrar of Companies and Official Receiver for company registration increased for the sixth consecutive month, in August 2014.

Cyprus has reserved areas in the Eastern Mediterranean for gas drilling operations by ENI/KOGAS, Energy Minister Yiorgos Lakkotrypis revealed recently.

The rate of inflation for August 2014 in Cyprus decreased by -0.7% compared to -0.6% in July 2014 and -0.9% in August 2013.