Preliminary designs for an energy centre at Vasilikos are nearing completion while government seeks strategic investors for construction

Central Bank of Cyprus is to announce the composition of the interim Board of Directors of Bank Cyprus, which following a Eurogroup decision for a €10 billion financial assistance to Cyprus, absorbed the good part of Cyprus Popular Bank which will be wound down.

A Middle East Airlines source Friday confirmed reports it was negotiating with Cyprus Airways to acquire the company’s assets and said the results of these talks would appear by the end of May.

Semi-state companies (SGOs) are looking into securing a €1.4 billion loan in a bid to avoid being privatised as part of the island’s €10 billion bailout.

The Central Bank of Cyprus (CBC) yesterday released the detailed results of a due diligence of the banks that determined they will need around €8.9 billion in additional capital needs.

In a packed room at the Presidential Palace, in front of ministers, MPs, party leaders, and leading businessmen, President Nicos Anastasiades announced measures to help kick-start the economy and officially announced the construction of a liquefied natural gas (LNG) plant.

The government is to ease citizenship rules for foreign investors who lost money under an EU bailout deal, as part of a series of planned measures to salvage what it can of its reputation as a business centre.

VTTI B.V., one of the world's fastest-growing independent energy storage companies, reaffirmed its support and commitment to Cyprus where its subsidiary, VTT Vasiliko Ltd, is developing a major oil storage terminal.

The government will soon approve measures aimed at boosting the crippled economy, that are expected to include casinos, fast-tracking permits for large projects, tax breaks, and relaxation of measures to encourage foreign investment.

The overwhelming majority of foreign businesses operating in Cyprus have confidence in the country as a regional business hub and wish to stay, according to Cyprus Foreign Minister.