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.

Bank deposits rose by €307.4 million in May 2014, while loans fell by €255.5 million, the Central Bank of Cyprus (CBC) said recently.

The International Monetary Fund's board has approved the immediate disbursement of €84 million, in fourth review of Cyprus' bailout program.

Cyprus often features at the top of the list of best countries to live, work or retire in thanks to its winning combination of work life balance.

With new incentives and various investment opportunities, the Cyprus citizenship programme has seen increased interest internationally.

There has been no haircut on Cyprus sovereign debt by the European Banking Authority (EBA), the Central Bank of Cyprus (CBC) said in a written statement recently.