The influx in tourism does not leave the market with more money as visitors are spending less, according to the Association of Cyprus Travel Agents (ACTA).

A new airliner based in Cyprus could well be in line to give the imminent arrival of Cobalt Air some early competition as the island’s national flag prepares to take to the skies.

The six pieces of legislation forming the insolvency framework are now in force, the newly established Cyprus Insolvency Service has announced.

Deflation in Cyprus accelerated in April 2015, for the fifth consecutive month, according to figures for the harmonized Index of Consumer Prices (HICP), the Statistical Service announced recently.

Travel Weekly reports that Paphos still remains the best value destination in the Eastern Mediterranean.

Germany sees a great potential for business in Cyprus and wants to help in a very concrete way, the country's Ambassador in Nicosia, Nikolai von Schoepff, said recently after a meeting with President Nicos Anastasiades.

Petrol stations will now be required by government decree to publish their prices through an app, meaning it will be easy for the public to know where to go to buy the cheapest petrol.

Between €8 and €10 million is to be spent on building new breakwaters in Oroklini and Larnaca.

Cyprus swung to growth in the first quarter of 2015, expanding 1.6% from the previous quarter, in the first expansion in output since slipping into recession in mid-2011, flash data showed recently.

The Larnaca marina and port project is going ahead as planned “and should have a positive outcome by June 15 2015,” said Transport Minister Marios Demetriades recently.