As of this month, the VAT standard rate in Cyprus will increase by 1% to 19%, as part of a series of obligations included in the €10 billion bailout the island agreed with its international lenders.

A delegation of a European Parliament (EP) Committee on Finance arrives in Cyprus as part of a probe into the democratic legitimacy of international lenders, the Troika (EC, ECB, IMF).

Construction work for a total face-lift of Larnaca's beach front will begin this year after two major projects of the restoration of the Phinikoudes promenade and improving Athenon Avenue and Europe Square were approved for co-funding by the EU.

Cyprus recorded the highest annual increase in unemployment across Europe during November, according to EU data released recently.

Baker Tilly in Romania (Baker Tilly Klitou) celebrates its tenth anniversary with a special ceremony held at the Athenee Palace Hilton in Bucharest.

A recent parliamentary meeting revealed the inability of the state to collect unpaid fines and taxes exceeding €150 mln, tax evasion, debt ridden municipalities, overpriced medicines and the fact that the Auditor’s Office is understaffed.

There is significant interest by investors for casinos in Cyprus, says the Finance Minister adding that decisions should be expected this year, as the government is in the process of selecting consultants.

The Natural Gas Public Company (DEFA) is working round the clock to complete the dossier for a second tender for natural gas imports, assures its chairperson.

Economic recovery will not come from spectacular moves but from the backbone of the economy, small and medium enterprises (SMEs) says the Finance Minister.

Ministers have approved the sale of one of the two night flight time slots Cyprus Airways has at Heathrow airport, which could provide a boost for the ailing carrier.