Energy production cost from the first two photovoltaic parks in Cyprus, producing 1.5MW each, is lower than the cost for equivalent energy produced by the Energy Authority of Cyprus.

Cyprus has raised €100 million in a six-year bond, via a private placement with an overseas investor, said the Finance Ministry recently.

Bank of Cyprus announced recently the release of the nine-month time deposits amounting to €933 million that were blocked as per the decrees relating to the recapitalisation of the Bank.

The rate of unemployment in Cyprus increased to 17.4% in March 2014, which represents 78,000 unemployed, up from 16.8% in February, Eurostat said recently.

By mid May 2014, Eurocontrol will be handing over to the Cyprus government a report on the structure of a new state owned company, which will provide aviation services.

The immediate implementation of projects pending for the 'Paphos 2017- European Capital of Culture' have been decided, including a new dock for cruise ships in the coastal town.

Cyprus' full participation in the EU provides valuable help to the states efforts to meet any future challenges, either financial or political, says President Anastasiades.

The University of Cyprus Oceanography Centre has secured financing of its research project MyOCEAN-FO, coordinated by the Deputy Director of the Centre Dr. Yiogos Zodiatis, under the EU Research and Innovation Programme Horizon 2020.

Cypriots use their credit cards less frequently but when they do use it, spend larger sums, according to a report by the European Central Bank (ECB) that studied credit card patterns throughout the EU and the eurozone for 2012.

The Bank of Cyprus Group has announced that it has appointed HSBC Bank to provide financial advice in relation to the disposal of a UK loan portfolio owned by the Group.