International lenders anticipate a shallower recession in Cyprus in 2014, as private consumption continues to drive the economy and authorities hope for an earlier than envisaged return to international markets.

A second $5 m instalment has been received by Black Iron Cyprus from Metinvest B.V. as part of the previously announced closing schedule for the strategic investment and development arrangement pertaining to Black Iron (Cyprus) Ltd. (BKI Cyprus).

Inflation in Cyprus for April 2014 decreased at a rate of -0.4%, and -0.9% for March 2014, while for April 2013 the corresponding rate increased at 0.1%

European Commission Spokesman Simon O'Connor says recent data by Eurostat shows that recession in Cyprus is easing much more quickly than expected in the latest forecast, as the government refers to signs of economic recovery.

Cyprus tourism prospects for 2014 are positive, Cyprus Tourism Organisation General Manager Marios Hannides says.

The Cyprus Tourism Organisation (CTO) is introducing the notion of ‘mystery guests’ as part of a new scheme to reward ‘quality’ establishments.

Senior bankers are calling for swift reform of the legal framework on repossessions in order to assist commercial banks to pressure borrowers into repaying their loans.

Cyprus needs to complete three prior actions before the disbursement of the fifth tranche of bailout cash, say international lenders.

Seizing on concerns about the impact of a possible halt in Russian gas through Ukraine, Cyprus’s leadership are promoting the island nation’s energy potential from Nicosia to Berlin.

Cabinet recently extended for three and a half months the tender period for the 'Design-Build-Finance-Operate' (DBFO) method of development for Larnaca’s port and marina.