Cyprus’ Central Bank Governor said recently that the 2014 recession on the bailed-out island could be shallower than the 4.2% decline anticipated by its international lenders.

Cyprus ranked 18th in a new survey which ranks nations according to their contribution to humanity and the planet.

The lifting of all domestic capital controls and Q1 results are signs the banking sector is on track, says Association of Cyprus Banks Director Michael Kammas.

Small and medium sized enterprises (SMEs) will set up a bank by the end of 2014 to help its members gain access to low-interest loans, according to an announcement.

The Bank of Cyprus recently announced that it will discuss funding and capital options to help expedite restructuring and strengthen the Bank.

An old ship wreck, the Laboe, was sunk off Yeroskipou recently to create Paphos district’s first artificial reef, in a bid to boost diving tourism to the island.

The Finance Minister has urged commercial banks to follow the government’s lead and seek to capitalise on foreign investors’ increased confidence in Cyprus economy by attracting funds to strengthen their capital base.

The government is makingevery effort for Cyprus to recover from the financial crisis and the course of the economy has already been reversed and is on the right track, said the President recently.

The drop in property prices by up to 30% in the coastal village of Pyla, has attracted investment interest from Chinese and Lebanese citizens.

An innovative project in its final stage of completion in Limassol involves installation of solar reflective panels that produce infinitely renewable energy without pollution and make for more efficient and less costly energy production.