The Central Bank of Cyprus announced it has appointed audit firm KPMG London to carry out an independent evaluation of the assets of the Bank of Cyprus and the Cyprus Popular Bank.

Nobel laureate Christopher Pissarides has been awarded €2.2 million by the European Research Council (ERC) for a University of Cyprus research project on employment in Europe.

Cypriot courts have issued an international injunction that aims to temporarily freeze assets of three former executives of the island's second largest bank that has been forced into bankruptcy as part of the Eurogroup-orchestrated bailout deal.

The communications ministry has called for tenders’ proposals for a feasibility study on a tram network in the greater Nicosia region.

Cyprus’ anti-money laundering unit (MOKAS) is cooperating closely with US authorities in a major case involving theoperators of a digital currency exchange with links on the island through numerous bank accounts.

Foreign investors will now be able to obtain Cypriot citizenship if they bring in €5 million, have large bank accounts or perform certain business transactions on the island.

Hellenic Bank posted a €31.7 million loss in the first quarter, taking a hit from higher provisioning for bad loans and from the sale of its Greek business as part of an international bailout for Cyprus.

German professor Heinz Richter says it is time to put an end to wrong perceptions in Germany regarding the banking sector and the way the economic situation is being managed in Cyprus.

Greek banker Christos Sorotos has been appointed interim Chief Executive Officer at Bank of Cyprus, the island’s biggest lender currently under temporary control by the Central Bank (CBC) as part of Cyprus’ bailout.

Chinese plan to invest €1.5 billion in Cyprus, showing strong confidence in the prospects and potential of the country.