Cyprus is seeking EU compensation for farmers and producers who have been badly hit by the prolonged drought said Agriculture Minister Nikos Kouyialis recently.

American billionaire Wilbur Ross, a potential stakeholder in the Bank of Cyprus, has set the repossession bill as a prerequisite for his €400 million investment that will increase the bank’s capital in time for EU stress tests.

Four Cyprus participants are amongst 15 partners from seven member states taking part in EU-funded research aiming to make cruise ships safer.

Current Bank of Cyprus shareholders can use their fix term deposits to buy shares of the bank as part of the share capital increase programme underway, the lender said recently.

Cyprus agricultural exports to Russia reached €13.5 million in 2013, representing 61% of total exports to the country, recent Trade Ministry data showed.

Revenue from tourism rose 10.8% year-on-year in May 2014, to €224.1 million, compared with €201.1 million in 2013, the statistical service said recently.

The rate of inflation in July 2014 decreased by -0.6%, compared to -1.2% in June 2014 and -0.3% in July 2013, the Statistical Service said recently.

The government is open to feedback from the parties that will improve on its foreclosures bill, and has already relayed to the troika a number of these proposals, Finance Minister Harris Georgiades said recently.

The reform of public health care has brought a much needed inflow of euros into parched state coffers, it was reported recently.

Property sales have marked a significant increase this year in anticipation of a new regime that will be caused by the repossession of mortgaged properties, with particular interest by foreign buyers.