Cyprus’ central government posted a budgetary surplus of €149.5 million in the first eight months of the year or just below 1.0% of economic output on increased revenue and decreased spending, the Finance Ministry said.

Cyprus’ revenue from tourism fell 5.1% year-on-year in July 2014, to €321.2 million, the statistical service said.

Unemployment in Cyprus fell to 15.4% in August 2014, the fourth consecutive drop, the EU’s statistical service Eurostat said recently.

Cyprus will receive around €4.0 million as part of emergency market measures for fruit and vegetables in the wake of the Russian ban on EU imports.

The government has approved hiring business advisors AlixPartners to help authorities probing the island’s economic collapse.

Amidst a bidding war with rival carriers over the acquisition of struggling Cyprus Airways, Ireland-based budget airline Ryanair has applied to the Cyprus Department of Civil Aviation (CDA) for a Cyprus Air Operator Certificate (AOC), which would allow it to set up a subsidiary airline on the island.

Energy Minister Yiorgos Lakkotrypis said recently that Oman is very much interested in Cyprus’ exclusive economic zone (EEZ).

Cyprus is determined to beat estimates and exit the bailout programme ahead of schedule and return to growth by the end of 2015.

For the fourth consecutive year, Limassol Marina participated at the Monaco Yacht Show recently alongside internationally renowned operator, Camper & Nicholsons Marinas.

Greece, Egypt and Cyprus have expressed their commitment to work closely and strengthen their cooperation in areas of mutual benefit, following a trilateral meeting by the countries' Foreign Ministers in New York.