The long-awaited offshore natural gas production test got underway and the flame was finally ignited following the repair of a glitch that temporarily halted the process last week.

A high-ranking officer from Russia’s Itera will be holding talks with officials here tomorrow in an apparently last-ditch attempt to close a deal on interim supplies of natural gas.

The government will go ahead with the privatisation of semi-government organisations (SGOs) very soon because it is part of the Memorandum of Understanding (MoU) with the troika, deputy government spokesman Victoras Papadopoulos said yesterday.

Azadea Group, the Middle East operator of clothing and restaurant franchises, has acquired the rights to distribute the Gap brand in Cyprus and will open a new Gap store in My Mall Limassol in November.

Cyprus is vulnerable to “major restructurings” of its debt over the coming years, Moody’s Investors’ Service has said.

The European Parliament and the European Central Bank have resolved a dispute over the new financial supervisor, paving the way for EU lawmakers to sign off on new rules allowing the ECB to supervise banks next year.

An offshore natural gas production test at the Aphrodite-2 well should get back on track by midweek, according to a senior official.

Cyprus Airways(CY) is working on a ‘Plan B’ to avoid leaving the island without a national air carrier in the event Brussels gives the thumbs-down to a rescue blueprint for the company.

Cyprus has a strong track-record of successfully attracting investment. Although the country is going through tough economic reforms today, it continues to offer a secure, legally transparent and attractive base for international business operations. Why Cyprus? Here are 12 reasons to invest.

Cyprus offers international investors attractive opportunities with a number of large-scale development projects underway.