The government will formally seek approval from the European Commission later this year to transform the successor entity to the failed co-op bank into an asset management company.

Following a decision of the Council of Ministers, as of February 21, 2022 the new Action Plan for the smooth operation of flights and the operation of airports entered into force. The Epidemiological Monitoring Unit of the Ministry of Health has made a re-evaluation of the epidemiological situation in various countries as regards COVID-19.

The government will be sticking to its ten-year action plan to support the island’s mountain communities, pumping in some €525 million through 350 activities by the end of 2030, President Nicos Anastasiades pledged on Monday.

The "Glafkos-2" appraisal well in Block 10 of the Exclusive Economic Zone (EEZ) of the Republic of Cyprus revealed the existence of high-quality natural gas, according to an announcement issued on Monday by the Ministry of Energy, Trade and Industry.

The Cypriot economy continues to grow, showing improvement over the performance of the previous year, but external factors are contributing to a loss of momentum, according to a report by the University of Cyprus Economic Research Centre.

The island’s largest lender said Thursday it has no banking operations in either Russia or Ukraine, having wound down its business there years ago.

Cyprus’ government web portal gov.cy will be operational in April or May at the latest providing to begin with 80 government services, Deputy Minister of Research, Innovation and Digital Police Kyriacos Kokkinos has said.

Cyprus will be looking to upgrade its role as an alternative energy hub and supplier to the EU, making the most of its untapped natural gas reserves and upcoming electricity interconnectors with Israel, Egypt and Greece.

Cabinet on Wednesday approved an aid package for more fire-stricken farmers and extended financial support to help those who were in state care, deputy government spokesperson Niovi Parisinou said in a written announcement.

Two new grant schemes were on Wednesday announced by the energy ministry totalling € 49 million, for the energy upgrade of small and medium enterprises (SMEs), non-profit organisations (NGOs), local government authorities and broader public sector bodies.