The company behind the debt-ridden Orphanides supermarket chain has filed a lawsuit against Laiki Bank for over €2 billion in damages claiming the lender has violated lending agreements and damaged the company’s finances.

Natural gas and a Cyprus peace solution would provide “great” benefits to all Cypriots and help spread peace and security in the region, said President Nicos Anastasiades in an interview with Turkish daily Milliyet yesterday.

IMF chief Christine Lagarde has reassured President Nicos Anastasiades of the organisation’s support in Cyprus’s efforts to implement its aid programme.

Two days short of the second anniversary of the fatal blast at the Mari Naval Base, the EAC announced that the power station was almost working at full capacity.

Finance Minister Harris Georgiades said yesterday there had not been any delays in the implementation of Cyprus’ bailout adjustment programme but some practical difficulties would be tackled in co-operation with EU partners.

With the appraisal underway in Cyprus' block 12 to confirm natural gas deposits and exploration partners keen to develop a land-based liquefaction plant for exports, the Cyprus labour market will gradually shift to more construction and engineering jobs.

Minister of Finance Harris Georgiades is determined to bring stability back to the banking sector and safeguard the trust of the international business community.

Cyprus passes law to allow designated security zones around oil and gas installations in its Exclusive Economic Zone.

Cyprus government announces measures to ensure banks and their clients reach fair compromise in restructuring existing loans.

Cyprus will overcome the financial crisis, says President Anastasiades.