The government will soon approve measures aimed at boosting the crippled economy, that are expected to include casinos, fast-tracking permits for large projects, tax breaks, and relaxation of measures to encourage foreign investment.

The overwhelming majority of foreign businesses operating in Cyprus have confidence in the country as a regional business hub and wish to stay, according to Cyprus Foreign Minister.

Cyprus Interior Minister alleviates investors’ concerns and says the ‘ground is safe’ to continue investing in Cyprus

Cyprus has gone through worse situations and current reconstruction efforts will help convert the crisis into an opportunity, says President Anastasides.

Shipping agents are seeking to take over the operation of Limassol port, offering a reported €32 million to buy out the Licensed Porters Association (LLPA).

The government is to scrap the previous administration’s bill on Immovable Property Tax (IPT) and will prepare a new one, according to Interior Minister Socrates Hasikos.

Casinos on the island could be up and running within two years, getting the ball rolling on an issue the previous administration flatly refused to consider on ideological grounds.

Houston based Noble Energy will start confirmation drilling in the third trimester of 2013 in block 12 of Cyprus’ Exclusive Economic Zone (EEZ), according to the new Energy Minister George Lakkotrypis.

Full national accounts figures have revised down the contraction in the fourth quarter to a seasonally adjusted 3.3% from a previous flash estimate of 3%.

Recessionary conditions pushed down the trade deficit in 2012, which fell to €4,320.0mln (4.3 bln) in January-December 2012 from €4,906.5mln in 2011. The main reason was a sharp fall of imports.