Cyprus GDP contracted by 4.1% in seasonally adjusted terms, during Q1 2014, compared with the same quarter in 2013, which compares favourably with the troika's prediction 4.8% annual contraction the Finance Ministry announced recently.

Negotiations between the Cyprus Development Bank’s (CDB) shareholders and a Russian group for the acquisition of a 50% equity stake in the lender are almost complete, with the Russian funds already placed in an escrow account.

The updated Memorandum of Understanding (MoU), a quarterly-updated list of reforms the Cyprus government needs to undertake periodically in order to receive each tranche of a €10 billion rescue loan from the troika is in the hands of the government.

The island’s unemployment fell slightly to 16.4% in April 2014, compared with the previous month when the jobless rate stood at 16.9%, according to Eurostat,

New retail FX brokerage FxGrow establishes in Cyprus, taking A-book liquidity from CFH Clearing.

It's wedding season in Cyprus, and couples from the Middle East are jetting in, drawn not by the island's clerics and consecrated buildings, but rather the opportunity to marry without them as Cyprus has become the civil wedding destination for Middle Eastern couples.

The Cyprus tourism industry has performed well over the past three years, with its recovery running in parallel to that of western economies and the opening up of the Russian market.

The former boss of RBS investment banking arm and now CEO of Bank of Cyprus is eyeing a London listing for the Cypriot lender he hauled back from the brink of collapse.

The accelerated deployment of renewable energy sources (RES), in conjunction with tourism activities, can play a pivotal role in overcoming our country’s current economic troubles, President Anastasiades said recently at the IRENA conference.

The consolidated accounts of the central government recorded a surplus in April 2014, covering thus the 0.12% GDP deficit last March, that corresponds to €18.95 billion.