The energy regulator, CERA, has decided to raise a temporary reduction on the basic tariffs of electricity from 5.0% to 8.0%, at the same time extending it for a further two months.

Almost everyone surveyed in the latest Eurobarometer report on Cyprus believes the economy is in ‘bad’ or ‘very bad’ shape but there was that 3.0% who thought it was ‘good’ or ‘very good’.

An ‘emergency’ meeting was convened recently in Nicosia to discuss the roll-out of a planned second tender for interim gas supplies.

A special team will try to claw back millions in tax not paid to the government by big debtors, says Finance Minister Georgiades.

Over 50 disgruntled depositors and shareholders of Cypriot banks are suing the EU and its institutions over losses they suffered when their deposits were seized to recapitalise lenders.

Parliamentary spokesman of former ruling party AKEL, Nicos Katsourides, officially steps down, as the party announces a change in the higher echelons.

The International Monetary Fund (IMF) approves the third tranche of Cyprus’ €10 billion assistance programme during a board meeting which lasted less than an hour.

The IMF Chief has praised the government for its implementation of the adjustment programme, saying that full implementation and broad public support, is crucial to restore confidence and growth in the Cyprus economy.

Marios Clerides, a well respected banker and economist and former chairman of the Cyprus Securities and Exchange Commission has been appointed the new chief executive officer of the recently nationalised Cooperative Central Bank.

Bank of Cyprus recently announced a scheme that offers its unemployed customers the option to pay only a nominal €10 per month instead of paying their regular home installments for a year.