Finance Minister Harris Georgiades said the decision of the Greek government to request from international creditors a new two-year programme worth €30bn was a “politically difficult but necessary choice".

PricewaterhouseCoopers is collaborating with educational and business organisations in a bid to support and promote entrepreneurship.

The Council of Ministers has approved Dutch company Vitol as the temporary supplier of natural gas to the country, the press has learned.

In spite of the current economically challenging environment that Cyprus is experiencing, the forex sector continues to flourish, creating many employment opportunities for Cypriots and expats living in Cyprus.

Agreements have been signed and more are on the way to boost the island’s air connectivity in the wake of the demise of Cyprus Airways, Transport Minister Marios Demetriades said recently.

The government generated a fiscal deficit of €13.3m or 0.1% of economic output on a cash basis in the first five months of 2015 compared to a fiscal surplus of €57.2m or 0.33% of gross domestic product a year before, the Finance Ministry said recently.

Cyprus will do anything it can to contribute towards keeping Greece in the eurozone, President Nicos Anastasiades said recently.

The cost of constructing infrastructure at Paphos harbour to cater for cruise ships could cost around €7m, a study has found.

Cyprus is “sufficiently protected” from developments in Greece, Finance Minister Harris Georgiades said recently, just hours before a bank holiday was imposed on banks in Greece.

Subsidiaries of Greek banks in Cyprus operated on Monday, 29th June as usual and without any limitations, the Central Bank of Cyprus has said.