The deadlock in the bailout funding caused by the refusal of parliament to approve a package of measures on foreclosures could end soon, with the Cabinet expected to review the final piece of the relevant insolvencies bill on March 3 and then table it in parliament for a final vote two day later.

A handful of prospective buyers are believed to have shown keen interest to invest in the Venus Rock project, the biggest integrated beachfront resort already underway on the island with a market value of €5.7 bn.

President Nicos Anastasiades said recently that Cyprus remains committed to the implementation of the economic adjustment programme.

The Cyprus Tourism Organisation (CTO) and the island’s hotel industry are shifting focus towards specialised tourism markets in the Middle East.

Hellenic Bank recently announced that it will be lowering its interest rates by 1% as of March 1, as soon as the Central Bank of Cyprus’ proposal was issued.

Cyprus will overcome the current foreclosure impasse and fulfil bailout terms agreed with international creditors during the financing period, economists said recently to the press.

Noble Energy predict that it could take between six and eight years for gas to be drilled out of the Aphrodite gas field in Cyprus’ Exclusive Economic Zone (EEZ).

Cyprus’ leading recruitment agency, GRS, has flourished since it was established in 2005 and is Cyprus’ top agency for filling executive and board level positions.

January 2015 inflation in Cyprus decreased at a rate of -0.7%, compared to 2014 , according to the Harmonised Index of Consumer Prices (HICP).

Tourist arrivals in Cyprus increased by 2.8% in January 2015, compared to the same month last year, from 40,675 to 41,799, with Israeli and German tourists taking the lead.