The government has drafted a bill that establishes a national watchdog for the financial sector, however there is concern among some MPs that the legislation lacks real bite.

Cyprus, Greece and Malta will intensify their cooperation to promote common interests both within and outside the EU, says Communications and Works Minister Tasos Mitsopoulos.

Finance Minister Harris Georgiades has said that there is a need for the government and the parliament to work in close cooperation and coordination in order for the legislation governing the creation of a solidarity fund to be better regulated.

The Cyprus Investment Promotion Agency (CIPA) and the Association of Large-Scale Development Projects have agreed to coordinate their efforts in a bid to attract foreign direct investments.

Cyprus moved up to take 10th spot in the Top of the Props chart published by the TheMoveChannel.com which records the most searched for overseas destinations to buy property.

State carrier Cyprus Airways will begin the process of negotiations with strategic investors early in February, says President of the Board of the airline.

The government is preparing a new national strategy to further upgrade Cyprus Merchant Shipping, said the Minister of Communications and Works following a meeting recently held at the Department of Merchant Shipping in Limassol.

Europe's largest low-cost airline Ryanair has reduced its standard airport bag fees from €60 to €30 at the bag drop desk, and from €60 to €50 at the boarding gate.

The board of the Cyprus’ Natural Gas Public Company (DEFA) has approved a second tender for the short-term supply of natural gas in Cyprus.

Foreclosing on large developers would not solve the liquidity problems faced by banks, but they are asking for time to settle their debts and continue to operate.