Fitch Ratings has upgraded Bank of Cyprus’ (BoC) long-term issuer default ratings (IDR) to CC from RD and Hellenic Bank’s (HB) to CCC from RD, according to a recent statement by the rating agency.

The government aims to collect €100 million in Immovable Property Tax (IPT), Interior Minister Socratis Hasikos said recently, adding that a bill reforming IPT must be put to a plenum vote.

TripAdvisor, one of the world's largest travel sites, honoured Cyprus Archaeological Museum and the Ancient Site of Kourion with the Certificate of Excellence 2014.

The rate of inflation decreased in June 2014 by -1.2% compared to -1.4% in May 2014 and 0.1% in June 2013, according to an official press release.

59% of Cyprus' government debt was financed by loans and the remaining 41% was financed by bonds, according to recent Eurostat figures.

'Future Earth', one of the most ambitious international programs of global sustainability, announced that the management of the program was entrusted to an international consortium in which CyI is a key participant, in charge of managing the Middle East/North Africa (MENA) region.

President Nicos Anastasiades recently reiterated the government’s determination to fully investigate the causes of the economic crash as steps were announced to that end.

Cyprus' plans for the exploration of hydrocarbon reserves, located off the island's shores, are proceeding without delay, Energy Minister Giorgos Lakkotrypis reiterated recently.

The government says it is making a serious effort to improve the framework for foreign investments, with the Energy Minister being pressured to introduce better facilities if Cyprus wants to attract more investors.

Tourist arrivals rose 11.4% year-on-year in April 2014 reaching 180,998, the island’s statistical service said recently, with revenues also recording a 20.4% rise.