Fitch Ratings has maintained the Bank of Cyprus’ covered bonds ‘B’ rating on negative watch, adding that the covered bonds' rating remains vulnerable to a deterioration.

Cyprus is undertaking an initiative to promote regional cooperation for the protection of the Mediterranean Sea, with Nicosia close to reaching a relevant agreement with Israel.

Parliament approves an amended bill on privatisations, which will lead to the modernisation and reform of SGOs and help pave the way to economic recovery.

Closed-ended investment company Aurora Russia Ltd says it has sold its Cyprus subsidiary Flexinvest Ltd, which owns OJSC Flexbank, to an unnamed firm in a deal worth £3.2 million sterling.

The sector of accommodation and food service activities recorded a decrease of 1.9% for 2013, compared to the corresponding last period in 2012, the Statistical Service of Cyprus announces.

The Industrial Output Prices Index for January 2014 reached 106.7 units, recording a decrease of 0.1% compared to December 2013, the Statistical Service announces.

The unemployment rate in Cyprus has dropped to 16.8% but still registered the highest annual increase in Europe, according to official Eurostat figures released recently.

Paphos has been recognised as one of the best wedding destinations in the world by travelers in an online poll.

A pioneering Centre for Innovation, Entrepreneurship and Employment (ΚΕΑ) has recently started operations, with the declared aim of combating recession and unemployment in Cyprus.

Energy Minister George Lakkotrypis resigns as a member of DIKO, in disagreement with the party’s recent decision to leave the government coalition.