The new cabinet expected to be appointed soon will be making important decisions as regards plans for a future LNG plant says Energy Minister Yiorgos Lakkotrypis.

President Anastasiades will visit Berlin in May where he will have substantial talks with German Chancellor Angela Merkel.

The dependence of the Cypriot banking system on the Emergency Liquidity Assistance remained unchanged in January at €9.55 bln, with a marginal decrease of €90,000 since December 2013.

Cyprus tourism and business sectors hold up reasonably well despite overextended banks and hurting economy.

A permanent 8% reduction on the basic tariffs of electricity has been announced by the Cyprus Energy Regulator CERA.

Indian High Commissioner Ravi Bangar has expressed interest in the privatisations process at a meeting with the Minister of Communications.

Job prospects in the air transport industry are said to be positive, as according to experts, air traffic in Europe will increase by 5% in the next decade, a significant development for Cyprus.

Fitch Ratings has affirmed Bank of Cyprus (BoC) and Hellenic Bank (HB) Long-Term Issuer Default Rating (IDR) at ‘Restricted Default’ but has also upgraded their viability ratings to ‘cc’ and ‘ccc’ respectively from ‘f’.

Cyprus could return to the markets earlier than originally thought, according to the Finance Minister who said it was a fully feasible objective given the way things were progressing.

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.