Plans to split BoC into a ‘good bank’ with core operations and a ‘bad bank’ with all its liabilities, as suggested by advisors HSBC, are not a priority, with the main issue at present being the restructure of the island’s biggest lender, its chief executive says.

The Bank of Cyprus announces its audited results for 2013, with losses adjusted upwards from the preliminary figures released a month earlier by €10 million to €2.05 billion.

Cyprus has secured funding from NER300 of a pilot project, amounting to €50 million for the installment of 3,000 smart meters on the island.

Cyprus has not suffered deteriorating relations between Moscow and the West over Ukraine crisis and some have seen benefits.

Cyprus will await the outcome of offshore drilling this year and the next before deciding on a potential new licensing round, says the Energy Minister.

Private-sector deposits declined slightly in Cypriot banks in February, but still reflected broad stabilisation after 18 months of falls, according to ECB.

It has been a year of shock, painful change and hard decisions for Cyprus since the bailout, but also the start of a transformation fuelling optimism for Cyprus’ long term prospects.

Azimo, the online international money transfer service, is making its low cost services available to Cyprus and 14 other EU members.

Trade and tourism are the main fields where Cyprus and Egypt can further develop bilateral cooperation, according to the Egyptian Ambassador.

The government's intention to develop a new growth model is gradually being put into action says President Anastasiades.