The European Parliament and the European Central Bank have resolved a dispute over the new financial supervisor, paving the way for EU lawmakers to sign off on new rules allowing the ECB to supervise banks next year.

An offshore natural gas production test at the Aphrodite-2 well should get back on track by midweek, according to a senior official.

Cyprus Airways(CY) is working on a ‘Plan B’ to avoid leaving the island without a national air carrier in the event Brussels gives the thumbs-down to a rescue blueprint for the company.

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Cyprus offers international investors attractive opportunities with a number of large-scale development projects underway.

Α World Bank mission comprising of 18 members arrived in Cyprus Monday to provide expert advice on reform of the Public Sector.

The German government has told its parliament they support the release of the next tranche of a €10 billion bailout aid package for Cyprus, reports said.

Feasibility studies are underway in an attempt to keep the development of the Larnaca port and marina project on track with private consortium Zenon looking abroad for investment, according to the head of Larnaca’s chamber of commerce Othonas Theodoulou.

The Meteorological Services will be installing two new weather radars at Larnaca and Paphos Airports following a deal which will last 13 years, signed with Space Hellas AE and worth just over €4.5m, the Agriculture Ministry announced yesterday.

It was not unusual for a glitch to delay flaring a natural gas well, officials said on Friday, as a production test at an offshore field was underway.