A recent parliamentary meeting revealed the inability of the state to collect unpaid fines and taxes exceeding €150 mln, tax evasion, debt ridden municipalities, overpriced medicines and the fact that the Auditor’s Office is understaffed.

There is significant interest by investors for casinos in Cyprus, says the Finance Minister adding that decisions should be expected this year, as the government is in the process of selecting consultants.

The Natural Gas Public Company (DEFA) is working round the clock to complete the dossier for a second tender for natural gas imports, assures its chairperson.

Economic recovery will not come from spectacular moves but from the backbone of the economy, small and medium enterprises (SMEs) says the Finance Minister.

Ministers have approved the sale of one of the two night flight time slots Cyprus Airways has at Heathrow airport, which could provide a boost for the ailing carrier.

The Federation of Associations of Building Contractors Cyprus (OSEOK) has issued a desperate plea for support to the President, saying local contactors were 'pinning their last hopes' on his intervention.

Consumer and company deposits rose in Cypriot banks in November, the first increase in 17 months on the island where big account holders in the two largest lenders were forced to take a hit as part of an international bailout in 2013.

The year 2013 saw a significant reduction in the price of electricity according to the Cyprus Energy Regulatory Authority (CERA) chief, with the average cost falling by 17.5% for regular consumers.

A preliminary agreement between the management and the employees of state-owned co-operative financial institutions to reduce payroll costs and introduce a voluntary redundancy scheme has been reached.

A Chinese frigate which will help escort Syria’s stockpile of chemical weapons out of the country docks in Cyprus as part of a delayed international mission.