The debate continues on whether to transform the Larnaca port into a tourist hub or oilrig service centre, catering to Cyprus’ new hydrocarbons industry.

Cyprus can become an important energy centre in the Mediterranean and prospects for both the country and economy widen the horizons for many industries while promoting Cypriot shipping, said the Communications and Works Minister recently.

President Nicos Anastasiades reassures the public that there will be no more taxes or other cuts, but instead there will be plans to create incentives that will help boost the economy.

Total imports/arrivals from third countries and EU member states in January-February 2014 amounted to €729,1 m, compared to €803,2 m in January-February 2013, according to the Statistical Service of Cyprus, Cystat.

Cyprus' energy prospects, tax-dodging, and refugees were some of the issue discussed recently by the troika delegation, on the island to carry their fourth review of the adjustment programme.

An 18% stake held by the now defunct Laiki Bank in Bank of Cyprus (BoC) could be transferred to the European Bank for Reconstruction and Development (EBRD), reports say.

Oilfield services giant Halliburton signs deal with Cyprus to base its eastern Mediterranean operations on the island, while negotiations with Schlumberger are expected to be sealed by May.

Regional energy cooperation is key for both cost effective growth in the area, political stability and environmental protection, said speakers at the recent 5th Mediterranean Oil & Gas Conference in Nicosia.

Casino licences should be expected by Spring 2015, the government said recently, as legislation on the matter is scheduled to be ready at the end of the May 2014.

The Cyprus Tourism Organisation (CTO) has concluded a deal with the largest British tour operator that is expected to significantly boost arrivals from the United Kingdom, commerce minister Giorgos Lakkotrypis revealed recently.