The European Investment Bank (EIB) has approved a new financing instrument for Cyprus, paving the way for trade finance support worth up to €150m, which will be made available by the end of 2013.

Cyprus is looking into the possibility of transferring water from Lebanon, either by ship or pipeline, to lower the cost of agricultural production, says Agriculture Minister Nicos Kouyialis.

Cyprus and energy giant Total have signed a memorandum of understanding (MoU) for the development of a natural gas liquefaction facility.

Troika officials who are monitoring cutbacks and reforms to reduce the runaway fiscal deficit of Cyprus, say the programme is on track, but the biggest challenge ahead is the privatisation of SGOs.

Organic olive oil, pharmaceuticals, tech and postal services win awards for initiatives that marked innovative firsts for the island.

Hellenic Bank is lowering its interest rates on certain categories of loans, following similar plans by Bank of Cyprus and Alpha Bank.

Cyprus’ GDP is expected to contract in both 2013 and 2014, with the recession coming to an end in 2015, says the autumn forecast of the European Commission.

Israel’s national carrier EL AL has restarted flights to Cyprus after around six years, with the first aircraft arriving at Larnaca airport.

Out of a total of 23 countries worldwide, the 2013 Knight Frank Global Lifestyle Review puts Cyprus in fifth place as the best relocation destination in the world.

Hellenic Bank avoids Cyprus state bailout, raising €100 million through private funds from three major investors taking 75% of the share capital.