The single casino licence which the government intends to issue will apparently provide for an integrated resort in one district plus two more branches, or “satellite casinos” in two other districts.

Cyprus’ banking sector is expected to show further losses in 2014 as the economy worsens and banks book rising non-performing loans, but the sector is adequately capitalised, the head of its Central Bank (CBC) has said.

Cyprus expects to lift almost all currency controls early next year, although restrictions will remain on individuals shifting funds out of the country, Finance Minister Harris Georgiades has said .

The Cabinet has approved modifications to the articles of association of the national oil and gas corporation, the Cyprus National Hydrocarbons Company (CNHC).

China is becoming increasingly interested in Cyprus and the potential is “huge,” the head of the Cyprus-Chinese Business Association said yesterday.

US-based Noble Energy confirmed reports it is working on a proposal to bring natural gas from Cyprus’ exclusive economic zone (EEZ) onshore for the purposes of electricity production in 2016.

The first phase of an EU-backed plan to lay the world’s longest subsea electricity cable could be completed by 2017, project managers have said.

Ancoria Holdings Ltd., backed by Swedish shareholders, has filed for a banking license in Cyprus.

Energy giant Total is looking to participate in the development of a gas liquefaction terminal, it has emerged, as the cabinet approved a draft MoU with the French company.

At first glance the official announcement of the appraisal drilling results for the Aphrodite natural gas field may not be the best news to an economy experiencing a severe economic recession.