Cyprus government to submit a provisional Immovable Property Tax legislation (IPT) in a bid to meet immediate bailout conditions.

A tenth decree issued by the Central Bank of Cyprus has further eased capital controls for transactions both within and outside the island.

Cyprus is on track to get €3 billion by the end of June after the Board of Governors of the European Stability Mechanism (ESM) decided to show 'solidarity' and grant financial assistance to the troubled island.

The European Investment Bank has approved a loan of up to €100 million for key investments in Cyprus.

Currency controls are expected to be lifted within the next few weeks, definitely within the next six months, according to Finance Minister Haris Georgiades.

Preliminary designs for an energy centre at Vasilikos are nearing completion while government seeks strategic investors for construction

Central Bank of Cyprus is to announce the composition of the interim Board of Directors of Bank Cyprus, which following a Eurogroup decision for a €10 billion financial assistance to Cyprus, absorbed the good part of Cyprus Popular Bank which will be wound down.

A Middle East Airlines source Friday confirmed reports it was negotiating with Cyprus Airways to acquire the company’s assets and said the results of these talks would appear by the end of May.

Semi-state companies (SGOs) are looking into securing a €1.4 billion loan in a bid to avoid being privatised as part of the island’s €10 billion bailout.

The Central Bank of Cyprus (CBC) yesterday released the detailed results of a due diligence of the banks that determined they will need around €8.9 billion in additional capital needs.