The University of Cyprus will be setting up a Hydrocarbon Research Institute and a Department of Chemical Engineering for Hydrocarbons in with the aim of supporting the oil and gas industry in the Eastern Mediterranean.

Israel and Cyprus recently agreed to expand their cooperation on energy issues, including the use of pipelines and electricity grids to link to European markets, as both countries develop natural gas fields off theircoasts.

A new airline is getting ready to set up shop in Larnaca and it’s already looking to hire mostly local staff, including former Cyprus Airways employees if they have the right skills.

The price for flats and apartments fell by 0.4% and 0.3% for houses in the second quarter of 2015, according to the twenty-third publication of RICS Cyprus’ Property Price Index.

A new EU supported programme worth more than €54 million will help nine border regions in Greece and all of Cyprus further develop their local economies.

A Tech Park is in the works just outside Limassol and it is expected to give a big boost to businesses in research, technology and innovation.

The Public Debt Management office, of the Ministry of Finance, announced recently that it received by July 20, 2015, 187 offers for the total amount of €30,055,900 six – year government bonds.

The Cabinet has approved a bill now headed to parliament that will safeguard the rights of borrowers, but also allow banks to sell their portfolios of distressed loans of up to €1 mln to high-risk investors.

Cyprus is still without a doubt a preferred destination for many tourists, where more Russians and Germans are still looking into booking a summer holiday according to Trivago.

Cyprus' economic adjustment programme continues to perform and progress has been made, according to senior European Commission sources.