The government is preparing a new national strategy to further upgrade Cyprus Merchant Shipping, said the Minister of Communications and Works following a meeting recently held at the Department of Merchant Shipping in Limassol.

Europe's largest low-cost airline Ryanair has reduced its standard airport bag fees from €60 to €30 at the bag drop desk, and from €60 to €50 at the boarding gate.

The board of the Cyprus’ Natural Gas Public Company (DEFA) has approved a second tender for the short-term supply of natural gas in Cyprus.

Foreclosing on large developers would not solve the liquidity problems faced by banks, but they are asking for time to settle their debts and continue to operate.

Cypriots are the biggest borrowers in Europe, with average loans of €4,000 per person, says European Commission report.

The most important decision that investors need to make, is the way they allocate funds amongst the various asset classes available. This is analysed here in an article by Nicos Cotsapas, a partner of Cyprus-based Elgin AMC and Swiss-based Elgin Group LLC.

Cyprus' externaltrade deficit for the period of January-October 2013 declined by 28% or by €1.02 billion year on year due to the significant reduction of imports, amid the continued contraction of the economy.

There are six, seven or possibly more potential strategic investors interested in Cyprus Airways, Communications and Works Minister has announced.

A significant improvement in the economic sentiment in Cyprus was registered for the eighth consecutive month, according to the Economic Sentiment Indicator for December 2013, issued recently by the European Commission.

Some €500m worth of foreign investments were made in Cyprus during the last eight months of 2013, primarily through the land-for-residency scheme, says the Interior Minister.