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.

As the Cyprus issue remains at a standstill, four prominent business organisations from Cyprus, Greece and Turkey agreed on their own joint declaration calling for the resumption of peace talks with economic benefits for all parties involved.

The government is looking to overhaul the way public finances are managed by passing legislation that provides for an independent fiscal council that will have the power to impose fines and jail time for offenders.