The government and the private sector draft an action plan to reverse the negative climate surrounding Cyprus on taxation transparency.

Unemployment in Cyprus declined marginally by 0.77% in November 2013, according to recently released figures by the Cyprus Statistical Service.



Bank deposits from third-country nationals increase slightly, according to official Central Bank (CBC) data.

Hydrocarbon reserves could be used to develop Cyprus' foreign policy and do for the Eastern Mediterranean what coal and steel did for Europe after WWII, says the Foreign Minister.

A second estimate for the third quarter of 2013 published recently by Eurostat confirmed that growth rates in Cyprus have declined.

Cyprus is out of 'the danger zone' says Finance Minister Harris Georgiades, adding that the recovery is due to Cyprus' willingness to commit and enact reforms quickly.


The island’s Cooperative credit societies are set to operate as a unified banking group, following a bailout programme and set of reforms that are restructuring the community based savings banks into a commercial entity.

Cyprus ranks 31st in the Transparency International corruption perception index, dropping two spots from 2011, when it ranked 29th, according to recently published annual index results.

Cyprus and Palestine have signed a Memorandum of Understanding to explore opportunities for cooperation in energy matters, particularly with regard to electricity and renewable energy.

Cyprus and India are a step closer to agreeing on a new double taxation agreement (DTA) after a Cypriot delegation visited New Delhi last week, said the Finance Ministry.