Nicosia says President Nicos Anastasiades had not been out of the loop regarding the Turkey-Israel rapprochement, with experts pointing to energy as the main engine pushing for good relations in the area.

The European Commission proposes to maintain the EU co-financing rate of 85% for Cyprus and to extend the 'top-up' mechanism, which can benefit Greece.

The European Commission has found a Cypriot scheme to support private households and micro companies that encounter difficulties in repaying loans to be in line with EU state aid rules.

Cyprus’ financial sector could take advantage of opportunities created by the decision of British voters to leave the European Union, the director of a banking business group said.

Bank of Cyprus’ vice chairman, Wilbur Ross, said recently that Cypriot authorities should try to compete with Ireland and Frankfurt in attracting London-based financial companies, which will seek to relocate following the Brexit vote.

The secondary market yields of Cyprus’ government bond maturing in November 2025 rose to 3.92% on Monday which is 16 basis points above that of Friday, the day after Britons decided in a referendum to leave the European Union, a banking source said.

Ayia Napa mayor Yiannis Karousos is confident that direct flights to Larnaca Airport from the Russian regions of Ivanovo and Vladimir will help boost tourism business in the popular summer resort.

Hellenic Bank is currently undergoing a transformation with a major focus on modernisation and technology.

Shares at the Cyprus Stock Exchange took a plunge on news of the outcome on the British referendum in which British voters decided to leave the European Union.

The only immediate impact to Cyprus’ tourism from the Brexit will be the fallout from the plunge in the British pound sterling, making holidays in Europe, including Cyprus, more expensive for Brits, industry players said recently.