The government recently signed a preliminary agreement in Nicosia with an Italian-South Korean joint venture on exploring the development of natural gas offshore Cyprus.

Bank of Cyprus (BoC) announces it will release 12-month time deposits of worth €927 million that were blocked as part of the terms of its recapitalisation in July 2013.

The Maritime Institute of Eastern Mediterranean has submitted a proposal for Cyprus to set up its own Maritime Institute similar to that of Ireland to further build up the sector.

Bank of Cyprus (BoC) shares will remain suspended until the end of October 2014, the island's stock exchange said recently, following a decision of the Cyprus Securities and Exchange Commission.

The Ministerial Committee focusing on Cyprus Airways’ survival will meet to prepare the ground for the national carrier’s next step in its quest for strategic investors, says Communications Minister Marios Demetriades.

Recession in Cyprus is projected to continue during 2015, the Economics Research Centre of the University of Cyprus said in its July Economic Outlook, forecasting a contraction in GDP of 0,7% for the next year, unlike a weak growth of 0,4% projected in the troika adjustment programme.

The Cyprus Ports Authority (CPA) will appoint a second consulting firm for the privatization of the commercial activities of the Limassol port as part of a privatisations plan to yield proceeds of €1.4 billion by 2018.

Bank of Cyprus, which has just raised €1b from investors, plans to sell up to €1b in bonds in September 2014, its CEO John Hourican told Reuters.

The European Bank for Reconstruction and Development announces itwould put in up to €120m of the €1b of new capital raised by Cyprus’s largest bank that was almost crippled by the country’s crisis.

TUI UK is promoting a new range of excursions in seven different countries, including Cyprus that have to meet minimum sustainability criteria, in order to offer an ethical holiday.