Cyprus and Russia recently signed an economic cooperation protocol in Moscow at the end of the meeting of the Seventh Cyprus-Russia Intergovernmental Committee for Economic Cooperation.

Purchase prices and rents for residential and commercial properties across the island continue to drop, according to the latest index from the Royal Institute of Chartered Surveyors (RICS).

Cyprus and Egypt are set to sign a series of bilateral agreements to enhance their cooperation during an upcoming visit Cyprus President Nicos Anastasiades will pay to Cairo.

A significant drop in imports in the first nine months of 2013 has resulted in a reduction of the trade deficit by €917.5 million compared to the same period of 2012, recently published data by the Cyprus Statistical Service shows.

The Cyprus economy contracted at a slower pace than originally estimated between July - September of 2013, recent figures show.

Texas based Noble Energy, operators of the Block 12 offshore license, have conceded that additional discoveries of natural gas are probably needed to justify a mooted LNG plant in Cyprus.

The Eurogroup has approved theroadmap for the privatisation of semi government organisations (SGOs), a requirement to release the next tranche of the island’s assistance programme.

US energy firm Noble Energy which has a concession in Cyprus' block 12 is planning to proceed with further exploration drilling towards the end of 2014.

Members of parliament are contemplating passing a bill whereby a first home would be exempt from foreclosure by banks, despite lenders' attempts to reign in non-performing loans.

October recorded a 16.6% increase in revenue from tourism, an encouraging development according to the Cyprus Tourism Organisation.