The government plans to get 8,000 unemployed people back in work, thanks to a 30.8 mln euro programme that is primarily aimed at the tourist sector.

Cyprus Ministry of Finance issued Friday a second decree, exempting four credit institutions operating in Cyprus from the capital restrictions imposed on Cypriot banks.

President Nicos Anastasiades said on Monday that very soon conditions will permit the lifting of all restrictions imposed on financial transactions.

Andrei Kostin, chairman and CEO of the Russian state-controlled VTB bank, reportedly told President Nicos Anastasiades on Monday that the Group will maintain its subsidiary in Cyprus, the Russian Commercial Bank.

The interim board at the Bank of Cyprus (BoC) has pledged to take all necessary steps so the bank can swiftly move away from its current status of being under administration.

The Eurogroup gave its blessings to the disbursement of €3 billion to Cyprus yesterday, with the first €2 billion already sent to the island as part of the first tranche of a €10 billion bailout expected to “buy time” for its ailing economy.

Restoring foreign investor confidence in the Cypriot economy, following the Eurogroup decision for a €10 billion financial assistance should be top priority, says Nobel Laureate and head of the Cyprus National Economy Council.

A new investment club has been formed in London with the aim of becoming active in Greece and Cyprus. The official announcement is expected in the coming summer.

The potential for further cooperation in the area of health between Cyprus and Israel was discussed between Minister of Health Petros Petrides and Israel’s Ambassador to Cyprus Michael Harari.

Holiday bookings from the UK to Cyprus appear to be recovering after a sharp drop during the economic turmoil the island went through in March.