The island's business giants are throwing their weight behind a Cyprus solution, highlighting the enormous benefits it would bring to the economy across multiple sectors.

The Cyprus Securities and Exchange Commission will introduce a new automated system of risk based supervision by end of 2014.

CEO of Bank of Cyprus, John Patrick Hourican, says the management of the island’s largest lender aims at ‘a strong albeit smaller and safer bank’.

GDP rose by 0.3% in the euro area (EA17) and by 0.4% in the EU28 during the fourth quarter of 2013, compared with the previous quarter, according to second estimates published by the EU statistical office Eurostat.

Following another successful year of sales, the highly anticipated launch of Dioni Residences comes just a few months before the official opening of the fitness and spa, the shopping and dining area at Cyprus Limassol Marina.

By adopting a privatizations bill, Cyprus has fulfilled the prerequisites in order to receive the next tranche of its bailout, a senior European official has said.

French company Total expects to start drilling in Cyprus’ Exclusive Economic Zone (EEZ) in mid 2015, says the firm's Managing Director.

The Council of the EU made clear that deposits in Cyprus are guaranteed only if not exceeding €100,000, excluding any support from European institutions for providing further guarantees from Cyprus Government.

Europe's leading low-cost carrier, Ryanair is launching a handful of new routes from Cyprus next month, as it reports a 7% year-on-year increase in passenger traffic.

Cyprus Tourism Organistion Director Marios Hannides at a tourism fair in Berlin, says he is cautiously optimistic of a boost from the German market in 2014.