President Anastasiades met a host of foreign leaders on the sidelines of the Asia-Europe Meeting (ASEM) in Milan, briefing them on progress in the Cyprus peace talks as well as the latest Turkish provocations in Cyprus’ Exclusive Economic Zone (EEZ).

The Co-operative Central Bank said recently it had made a net profit of €85.6m in the first half of the year.

ENI company, currently prospecting for natural gas in Cyprus waters, signed recently a cooperation agreement with Korea Gas Corporation (KOGAS) to further strengthen their relationship in a number of areas, particularly in the upstream and LNG sectors.

As a result GDP for 2014 is expected to contract by 2.4%, according to the Economic Research Centre (ERC) of the University of Cyprus.

The fiscal deficit is projected to be lower in 2014 than the 3% threshold set by the EU and closer to 2.5%, said the Finance Minister recently.

The Cooperative Central Bank (CCB) is receiving encouraging signs from its restructuring operations, its chairman said a day after the bank posted profits of €85.6m for the first half of 2014.

The European Bank for Reconstruction and Development (EBRD) has not ruled out the possibility of buying a stake in Cyprus' banks, EBRD Cyprus office head said recently.

Cyprus will submit candidacy for the leadership of the International Maritime Organization (IMO) of the United Nations in the upcoming elections in June 2015.

Some 6,840 young people have taken part in placement projects implemented by the Human Resource Development Authority to address youth unemployment with a budget of €24 million, according to Labour Minister Zeta Emilianides.

Israeli Foreign Affairs Minister Avigdor Lieberman will be visiting Cyprus next month, to prepare for an official state visit by Prime Minister Benjamin Netanyahu.