A new haircut on unsecured deposits at the Cooperative banking sector has been averted, according to Finance Minster Harris Georgiades, who added that the Coop sector, that will undergo restructuring and benefit from a 1.5 bln euro bailout from international lenders, will be enhanced.

The finance ministry on Thursday published a roadmap agreed with international lenders for the gradual removal of capital controls, imposed in March to prevent a bank run following the European Union’s decision to grant Cyprus financial assistance.

The head of the Central Co-operative Bank (CCB) has reiterated that co-operatives will regain ownership of their shares within a reasonable time, as the list of the 18 entities that will result from the merger of 93 banks was made public yesterday.

On the 8th August the energy ministers of Cyprus, Greece and Israel signed in Nicosia a first-ever Memorandum of Understanding (MoU) between the three countries on cooperation in the fields of energy and water.

Cyprus Cooperative Central Bank released on Thursday a list of the new 18 Cooperative Credit Institutions to be established on the island, after the merger of 93 existing institutions.

As last reported on 4 July 2013 a Double Tax Treaty (DTT) was signed between Cyprus and Portugal.

Cyprus’ fifth desalination plant, with a capacity to produce up to 40,000 cubic metres of desalinated potable water daily, has been inaugurated by President Nicos Anastasiades in Limassol.

Cyprus, Israel and Greece are signing a 'historic' memorandum of understanding (MOU) on energy and water issues, paving the way for the further strengthening of relations between the three countries.

TheCentral Bank of Cyprus (CBC) will hold talks with interested parties in a bid to come up with the best solution regarding the shares held by defunct Laiki Bank in the Bank of Cyprus (BoC).

The European University Cyprus has been given approval by the education ministry to start a medical school in the coming year, making this the first private university to provide a medical programme evaluated by the ministry.