Cyprus' bailout programme is on track, says the Finance Minister, as the government agrees with lenders on the foreclosures bill whose approval is a pre-condition for the release of the next tranche of financial assistance.

Cyprus is one of just five EU countries which has fully transposed the European Commissions new Energy Efficiency Directive.

The Shacolas Group said it is planning to invest some €60 million in new and existing projects in the next two years or so.

Cyprus and Switzerland recently signed a double taxation agreement and a relevant protocol.

Almost 20 companies have submitted non-binding expressions of interest in Cyprus Airways, a state-owned carrier that the government wants to privatise, Communications Minister Marios Demetriades said recently.

The Natural Gas Public Company (DEFA) announces it has invited a number of bidders for negotiations for the supply of natural gas.

Cyprus Tourism Organisation (CTO) has taken an initiative with the aim of reducing airport taxes imposed by Hermes, the company managing the operations of Larnaca and Pafos airports, CTO Director General Marios Hannides said recently.

Larnaca Port’s development as a hydrocarbon sector service provider was at the centre of discussions between Communications Minister Marios Demetriades and Akel General Secretary Andros Kyprianou recently.

Minister of Energy Yiorgos Lakkotrypis has pointed out the necessity to modernise Cypriot businesses, so that they may become competitive and survive.

On the last day for expressions of interest, Aegean Airlines submitted its intention to bid for the sale of Cyprus Airways (CY) or its assets to new investors.