Defence Minister Fotis Fotiou says relations with Israel were entering “a new phase” as the two countries hold a joint military exercise in Cypriot airspace.

Cyprus is looking at several options for developing its hydrocarbon reserves but its priority remains the construction of an onshore liquefied natural gas (LNG) plant, says Energy Minister Giorgos Lakkotrypis.

Sports tourism is one of the Cyprus Tourism Organisation’s (CTO) most valuable assets when it comes to alternative forms of tourism, its general manager Marios Hannides said recently.

The Finance Minister assures that substantial relaxations to capital controls could be expected in the near future, as the island surpasses the targets set in the bailout adjustment programme and its banking sector stabilises.

After an 18-month-break, Cyprus peace talks resume, in a fresh attempt to reunify the island, with both sides agreeing to instruct their negotiators to hold their first meeting this week.

As Cyprus peace talks resume, Turkey says it will refuse to recognize any gas deals that would involve the Greek side of Cyprus.

Viber, the instant messaging app run from Cyprus by an Israeli entrepreneur will not be sold to an Asian firm for $300 million-$400 million.

Drastic changes are needed to retain current tourism markets and tap into new emerging markets like China and Iraq, says the president of the Limassol Tourism Board Tony Antoniou.

Gross fixed capital investments were up in 2011 by 13.9% compared to the previous year, according to new data released by the Statistical Service.

The Central Bank of Cyprus has issued its second warning in two months over risks related to virtual currencies, saying that the Bitcoin is not a legal tender.