Cyprus and Iceland have signed a double taxation agreement based on the OECD Model Convention for the Avoidance of Double Taxation on Income and on Capital, the Finance Ministry said in a statement recently.

Technocrats from Cyprus' international lenders, currently visiting the island, have discussed the proposed six bills on insolvency with leaders from political parties.

Cyprus’s economy contracted by 0.4% in the third quarter from the second, preliminary data shows, while output on the island nation declined 2.0% on a yearly basis.

Bank of Cyprus said recently it expected to list again on the Athens and Nicosia stock exchanges in December 2014.

Foreign direct investments (FDIs) into Cyprus are expected to have exceeded €2 bln in the past year, boosted by the mega-capital raising by Bank of Cyprus in September and Hellenic Bank earlier in 2014.

The European Parliament passes a joint resolution condemning Turkey for its actions within Cyprus’ EEZ and demanding Ankara withdraw its vessels from the area immediately.

Cyprus is expected to return to positive growth next year while the economy will turn a new page before the end of 2015, according to President Nicos Anastasiades.

Greek Minister of Foreign Affairs of Greece Evangelos Venizelos has said that a trilateral meeting between Greece, Cyprus and Israel, at ministerial level first and later on at head of states' level, will take place the soonest possible in Athens.

Limassol Marina is now preparing to welcome the first residents in its luxury waterfront villas with private berths attached to their garden or direct access to the beach.

A publication in the Economic Times has caused much debate in India since after blacklisting Cyprus for not sharing information on tax evaders, India is now looking to take away the favourable tax treatment available to investors from the European tax heaven under the bilateral tax treaty between the two countries.