The government plans to pay Bank of Cyprus (BoC) €950 million, in partial repayment of a government bond of €1.8 million issued in 2012 to prop up a now defunct lender.

President Nicos Anastasiades and Israeli Prime Minister Benjamin Netanyahu recently had a telephone conversation, discussing a possible cooperation between the two countries in the field of energy.

Etihad Airways, the national carrier of the UAE, will boost frequency and capacity to Larnaca from 1st July 2014, adding depth to its expanding network, while enhancing connectivity over its Abu Dhabi hub.

The Cyprus Energy Regulatory Authority (CERA) has started accepting applications for the installation of low-capacity domestic photovoltaic systems, known as net metering, and of electricity self-production systems for businesses.

Cyprus’ Central Bank Governor said recently that the 2014 recession on the bailed-out island could be shallower than the 4.2% decline anticipated by its international lenders.

Cyprus ranked 18th in a new survey which ranks nations according to their contribution to humanity and the planet.

The lifting of all domestic capital controls and Q1 results are signs the banking sector is on track, says Association of Cyprus Banks Director Michael Kammas.

Small and medium sized enterprises (SMEs) will set up a bank by the end of 2014 to help its members gain access to low-interest loans, according to an announcement.

The Bank of Cyprus recently announced that it will discuss funding and capital options to help expedite restructuring and strengthen the Bank.

An old ship wreck, the Laboe, was sunk off Yeroskipou recently to create Paphos district’s first artificial reef, in a bid to boost diving tourism to the island.