Hotel prices in Cyprus have dropped to the lowest average price per night since January 2011, according to the February trivago Hotel Price Index (tHPI), reported monthly by hotel comparison website trivago.co.uk.

The Chairman of the Committee of the Cyprus Cooperative Central Bank (CCB) has expressed the need to put an end to the bad banking practices of the past that led the country's economy to its current state.

Cyprus Airways is set to begin talks with prospective investors, says chairman Tony Antoniou, but refused to give out detailsciting confidentiality.

25% of civil service employees on the island will have to be downgraded, says the World Bank in a report sought by the government as part of its structural modernisation plan.

The Labour Minister launches six new labour subsidy schemes to support employment in certain categories, by offering incentives to create 7,500 jobs for unemployed graduates and in the retail and tourism sectors.

The government aims to turn Cyprus into a regional centre for quality education through legislation attracting foreign post-graduate students, reveals President Anastasiades.

Energy Minister Lakkotrypis confirms Chinese investment interest in Cyprus' natural gas and reiterates that a pipeline to Turkey is not an option without a Cyprus solution.

Government coalition party DIKO votes to abandon the ruling alliance, citing disagreement with the terms for the resumption of negotiations on the Cyprus issue and accusing the President of violating his pre-election pledges.

Foreign investors are willing to stay and invest more in the Cypriot market, provided that the state provides proper incentives and maintains political and economic stability, says the head of CIPA.

The recent announcement of Cyprus-Israel Joint Research Programme of Cooperation is a very positive development and a further step towards forging closer relations between the two countries.