DBRS, Inc. has confirmed the long-term foreign and local currency issuer ratings for the Republic of Cyprus at B (low).

A bill governing the operation of casinos in the Republic is expected to be put to the vote later this month and investors would be invited to express interest by August 2015, it emerged recently.

Electricity bills are to drop again, but the declining prices are not set to last as international crude oil prices are on the up, the Electricity Authority’s (EAC) spokeswoman Christina Papadopoulou announced recently.

Russian tourism is expected to drop in June 2015 despite it being considered the best month for attracting visitors from Russia, Association of Cyprus Travel Agents (ACTA) chairman Dinos Kakkouras said recently.

Seasonally adjusted GDP rose by 1.6% during the first quarter of 2015, compared to the previous quarter, according to Eurostat.

The Development and Production Plan for the Aphrodite natural gas field was submitted recently to Cyprus' Ministryof Energy by the partners in Block 12 of Cyprus Exclusive Economic Zone (EEZ).

Aegean Airlines and Singapore Airlines are set to offer more flights to the Far East and Australia from Cyprus.

Communications Minister Marios Demetriades says public spending for various works around the island is proof that the island is finally on the road to recovery.

A total of 103 applications for the registration of new companies were filed at the Cyprus Registrar of Companies in May 2015 marking a reduction of 10.6% compared with the corresponding period of 2014.

Building permits issued from January-March 2015 amounted to 1,265, up 1% compared with the same period last year, according to data released recently by the Statistical Service of Cyprus.