The government does not plan to raise taxes or cut pensions and wages, President Nicos Anastasiades assured civil servants recently, noting however, that government spending, including payroll, could only increase at a reasonable pace.

Cyprus plans to tap the international bond market and to this end the Finance Ministry announced recently that is has mandated four large international banks to update investors on recent developments and funding strategy.

Noble and its partners are expected to formally declare commerciality for the Aphrodite gas field in April 2015, followed by submission of a Development Plan soon after.

Cyprus’ third-biggest lender Hellenic Bank Group is looking to use the island’s position as a ‘stepping stone’ between Europe and the Middle East to attract new business.

Residential property prices in Cyprus recorded one of the largest falls in the EU in the fourth quarter of 2014, according to data from the EU’s statistical service Eurostat.

A 16% increase has been recorded in inbound flights from January to March 2015 compared to last year, Tourism minister George Lakkotrypis said recently as he opened the 18th tourism exhibition Taxidi 2015.

A leftist moderate promising to press for a peace deal in ethnically-split Cyprus swept to victory in a Turkish Cypriot presidential election runoff recently.

Fitch Ratings agency has affirmed Cyprus’ long-term foreign and local currency Issuer Default Ratings (IDRs) at 'B-' with a Positive Outlook, according to a recent statement.

Cyprus has secured funding from the European Bank for Reconstruction and Development-EBRD for a study which will finally lead to the launching of Next Generation Access-NGA networks in the island.

Implementation of the foreclosures framework in parliament is credit positive for Cypriot banks because it lays the groundwork for large-scale loan restructurings and improves the banks’ recovery prospects, Moody’s said recently.