Non-performing loans (NPLs) in commercial banks and cooperative credit institutions rose to €26.25 billion in November 2013, according to recent figures released by the Cyprus Central Bank (CBC).

The first of two events aimed at engaging youth in cultural activities will get underway in Paphos this month, organised by the Paphos-Aphrodite Rotary club

The possibility of closer cooperation between Cyprus and Egypt in the field of hydrocarbons, including the sale of natural gas to Cairo, will be examined by a joint technical committee in February.

Cyprus trade deficit narrowed by about €1 bln in January-November, due mainly to a proportionate fall in imports and an increase in exports.

Cyprus economy sees a strengthening of deflationary trends in January, as the rate of inflation decreases by -2.9% compared to -2.3% in December 2013 and 1.8% in January 2013, figures released by the Statistical Service show.

Agriculture Minister Nicos Kouyialis launches an action plan for listing Cyprus' wetlands in order to protect the delicate eco systems.

There are currently 52,000 registered as unemployed people in Cyprus, Labour Minister Zeta Emilianidou says, in contrast to 78,000 ‘registered and non-registered’ cited by Eurostat.

The restructuring of Cypriot banks, fiscal discipline and a lower-than-anticipated contraction of GDP may have somewhat improved the country’s economic outlook, but the main underlying challenges to a full recovery remain, say the troika.

The dependence of Cypriot banks on the Emergency Liquidity Assistance (ELA) in December 2013 recorded a further decrease by €224 million, with the amount dropping to €9.55 billion in the last month of 2013, according to the Central Bank.

The need to combat bureaucracy, simplify procedures and update the structures and practices in Cyprus are confirmed through the results of the World Bank’s 'Doing Business Report 2014', presented by CIPA.