Cyprus is successfully carrying out necessary reforms and the next tranche of €1.5bn from the eurozone’s bailout fund will be disbursed, says European Commission draft report.

The ambition of the University of Cyprus is to be among the 200 best universities in the world by 2020.

Pavlos Loizou Managing Partner of Real Estate & Investments at Leaf Research explains the Cyprus IPT.

President Anastasiades tells German press Cyprus will return to financial markets before programme-end in 2016 and require no more funds from international lenders.

Consumers and companies continued to withdraw deposits from banks in Cyprus in July, where big account holders in the two largest lenders were forced to take a hit as part of an international bailout.

The CSE is planning to introduce a market for derivatives by the end of 2013 or early-2014 to boost revenue-earning capabilities and diversify the tools and services offered to investors.

The Natural Gas Public Company (DEFA) has wrapped up talks with Russia’s Itera on the potential interim supply to Cyprus of natural gas, and is now set to deliver a report to the government.

Around 37,000 Russian tourists are expected in Cyprus over the coming months following the decision by Russian budget airline Transaero to carry out daily flights to Paphos.

Cyprus’ fiscal deficit for the second quarter (Q2) of 2013 declined to €225.6 million compared with €409.4 million in Q2 2012.

The Cyprus government aims to reduce state spending by 10% in 2014, and reduce public deficit without imposing new taxes, says Finance Minister Harris Georgiades.