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Preparations for the implementation of the Minimum Guaranteed Income (MGI) scheme continue as planned and will be ready for initial deployment on July 1, 2014, assures the Labour Minister.

President Anastasiades is on a four-day state visit to Berlin, where he will meet with German Chancellor Merkel to discuss the economy, the Cyprus issue and energy.

Income from tourism has started to move upwards with official data recently showing that tourist spending in February 2014 increased 10.5% on the same month last year.

Cyprus abolishes restrictions on cashing cheques as it lifts the last main domestic capital controls imposed in March 2013 to avoid a run on banks during bailout negotiations.

Cyprus Airways recently announced they assumed the line maintenance support of the A320 passenger jets of Qatar Airways, which commenced scheduled flights to Larnaca Airport.

Supporting entrepreneurship is the key for the economy to return to growth and development, says Energy Minister Yiorgos Lakkotrypis.

Recession in 2014 is forecasted to be moderate compared to 2013, according to the Economic Research Center of the University of Cyprus.

The Minister of Communications and Works says that a strategic study on the use of Cyprus' ports by oil & gas companies drilling for natural gas within the country's Exclusive Economic Zone is underway.

Central government accounts recorded a deficit of €18.95 million or 0.12% of GDP, recent data released by the Ministry of Finance shows.