Cyprus' shipping remains strong, despite the shock caused in the country’s economy, Communications and Works Minister Tasos Mitsopoulos says.

The Energy Minister says the contribution of tourism to Cyprus’ economy was more than valuable in 2013, with revenue from 2.4 million tourists reaching €2.1 billion, recording an increase of 9% compared to 2012.

More than 13,000 families in Cyprus are living below the poverty line, who are forced to survive with the help of local food kitchens and other volunteer activities according to the Volunteer Commissioner.

The Finance Minister promises hoteliers to do everything he can to help boost ailing winter tourism, including tax incentives, and a possible reduction in airport landing charges for specific periods.

The Aristotelis project, a ministry-endorsed initiative by a private publishing firm to create electronic versions of schoolbooks as study aids, will now be offered free-of-charge, it was announced recently.

The IMF favours postponing the full implementation of the National Health Scheme (NHS), according to an internal note by the Health Ministry, proposing instead a gradual implementation due to the fragile economy.

Cyprus is a destination where central Europeans choose to prepare for other races early in the season, due to its agreeable climate and trails giving many a break from ‘winter’, says the website.

The Central Bank directly acknowledged for the first time recently that bitcoin is not illegal, but again highlighted the risks of using an unregulated digital currency.

Recession is expected to ease in Cyprus in 2014 and growth is set to return in 2015 as domestic demand recovers, according to the European Commission's winter 2014 forecast.

KPMG explains to ENR companies the importance of risk management through a webcast.