The dependence of Cypriot banks on the Emergency Liquidity Assistance (ELA) in December 2013 recorded a further decrease by €224 million, with the amount dropping to €9.55 billion in the last month of 2013, according to the Central Bank.

The need to combat bureaucracy, simplify procedures and update the structures and practices in Cyprus are confirmed through the results of the World Bank’s 'Doing Business Report 2014', presented by CIPA.

The Cyprus Association of Research and Development Pharmaceutical Companies (KEFEA) is concerned over media reports claiming that only one medicine will be available for every disease following the implementation of the NHS.

International lenders believe that the Cyprus property market will pick up in 2014, according to the chairman of the Cyprus Land and Building Developers Association (LBDA) Pantelis Leptos.

Around 15 proposals, covering a broad range of EU Digital Agenda pillars, have been submitted for the first Digital Championship in Cyprus.

Despite the setbacks of the Eurogroup decisions, international shipping companies continue to support the Cypriot economy says Director General of the Cyprus Shipping Chamber.

The Central Bank of Cyprus (CBC) definition of non-performing loans is still a headache for the association of bankers who discussed their concerns with technocrats from the troika of international lenders.

Non performing loans by commercial banks and the co–operative sector inside and outside Cyprus stood at €25.24 billion by September 30th 2013, according to figures published by the Central Bank of Cyprus.

Valued at €620 on the open market, the bitcoin is gradually creeping into more services and establishments in Cyprus, while the authorities are still pondering whether to regulate the virtual currency as a in certain forms but not the trade of the Bitcoin itself.

Cyprus Energy Minister said that the interim solution for the arrival of natural gas for energy production is expected to be clarified by March, when the proposals will be submitted by the companies concerned.