The government has welcomed the positive statement of Moody’s credit rating agency on Cyprus’ return to the international financial markets.

Bad cheques worth around €1.5 million were issued in the first six months of the year, Central Bank (CBC) data showed.

Recognising the rising number of adventure-seeking divers from around the world, the Cyprus Tourism Organisation (CTO) is focusing on shaping the island’s diving scene into one of the best in the Mediterranean.

Finance Minister Harris Georgiades argues that the recent favourable investor sentiment towards Cyprus’ economic prospects represented an opportunity that should not be missed by Bank of Cyprus, while stressing that banks and bankers cannot be left unchecked by the oversight authority.

The expression of intent by Israeli companies to give natural gas to Egypt does not affect Cyprus' strategic plans, and were expected, Energy Minister Giorgos Lakkotrypis said recently.

Unemployment in Cyprus in May declined to 15.3% registering its second consecutive reduction in 2014, according to recent figures released by Eurostat.

Cyprus performs better for goods markets and services markets compared both to 2012 and to the EU28 average by 6.7%, according to the 10th Consumer Markets Scoreboard published by the European Commission recently.

The Co-operative Central Bank (CCB) recently announced €196 million in pre-provision profits for 2013, €15 million in net profit for the first quarter in 2014 and a core-tier 1 capital ratio of 12.1%.

The island's sixth desalination plant, located at Vassilikos was inaugurated recently by President Nicos Anastasiades who said it marked a new era in Cyprus’ water policy, while he referred to efforts to strengthen ties with Israel.

Commercial banks have restructured €12 billion of non-performing loans as of April 2014, or 27% of the amount borrowed in Cyprus totalling €44 billion, according to the bank association.