Cyprus' externaltrade deficit for the period of January-October 2013 declined by 28% or by €1.02 billion year on year due to the significant reduction of imports, amid the continued contraction of the economy.

There are six, seven or possibly more potential strategic investors interested in Cyprus Airways, Communications and Works Minister has announced.

A significant improvement in the economic sentiment in Cyprus was registered for the eighth consecutive month, according to the Economic Sentiment Indicator for December 2013, issued recently by the European Commission.

Some €500m worth of foreign investments were made in Cyprus during the last eight months of 2013, primarily through the land-for-residency scheme, says the Interior Minister.

As the Cyprus issue remains at a standstill, four prominent business organisations from Cyprus, Greece and Turkey agreed on their own joint declaration calling for the resumption of peace talks with economic benefits for all parties involved.

The government is looking to overhaul the way public finances are managed by passing legislation that provides for an independent fiscal council that will have the power to impose fines and jail time for offenders.

The Minister of Communications and Works refers to government’s efforts to reinvent Cyprus as a destination point for visitors/tourists and as a hub connecting Europe with other parts of the world.

Emirates Holidays is offering a range of special packages to Dubai, Mauritius, the Seychelles and the Maldives at the Wedding Exhibition in Nicosia.

The EU will allocate €80 bln for research and innovation in the period 2014-2020, through the program 'Horizon 2020'.

Promoting awareness on green growth and making the most of available EU funds to that effect were the focus of a recent meeting between the Environment Commissioner and Cyprus Chamber of Commerce and Industry (CCCI).