The island’s tourism is seeing positive trends as the season gets into full swing, officials said recently, as they focus their efforts on reducing the loss from the Russian market.

Annual inflation dropped again in Cyprus in April 2015, to -1,7%, compared to -1,4% in March 2015, according to Eurostat.

Business leaders recently called the government to push forward with public service reform, increase development, end bureaucracy, maintain Sunday opening and limit strikes in essential services, saying that so far the well-worn slogan that ‘the crisis brings opportunities’ remains just that.

President Nicos Anastasiades announced recently that the government is moving forward with a plan to cut taxes along with offering incentives for foreign investors.

A delegation from the European Space Agency (ESA) is due in Cyprus in June 2015 to update the joint assessment of the island’s space activities, said Communications Minister Marios Demetriades recently.

A Cyprus Central Bank (CBC) draft law on loan sales provides that loans could only be sold on registered companies in the Republic of Cyprus, in addition to subsidiaries of credit institutions in other EU member-states.

A Cypriot project called ‘Arachnobeea’ has won the NASA International Space Apps Challenge.

The following text is the full address by the Minister of Transport, Communications and Works Marios Demetriades at the conference 'Cyprus Embraces Space 2015'.

The Finance Ministry in Nicosia is working to set up an investment fund to manage the revenue from indigenous hydrocarbon deposits in a credible and transparent way.

Cyprus is on track to privatise its state telecommunications authority Cyta by the end of March 2016, in line with its bailout obligations, according to Commissioner for Privatisations Constantinos Herodotou.