Vassilikos power station is back to full operation with all units repaired and provisions made for future use of natural gas.

The cabinet has decided to exempt immovable property worth up to €5,000 at 1980s values from the new taxation.

Cyprus' supercomputing centre runs the most powerful computer open to academia in the Eastern Mediterranean region, contributing to scientific excellence in various research fields.

Despite the decline in tourist numbers, the Russian market continues to climb.

Cyprus industrial turnover down by 12.8% in May

The Maritime Labour Convention 2006 has entered into force, after being ratified by the largest shipping nations.

Cyprus is actively pursuing an Open Skies policy on aviation, according to Communications and Works minister Tasos Mitsopoulos, who said that after a relevant agreement with Ukraine, the government was making efforts to start the dialogue with Russia.

The Cypriot ship owning and maritime investment company FrontMarine, and the associated Lemissoler Navigation, have placed an order for four environmentally friendly bulk carriers to be built in one of the leading privately owned Chinese shipyards and delivered by mid-2015.

A new haircut on unsecured deposits at the Cooperative banking sector has been averted, according to Finance Minster Harris Georgiades, who added that the Coop sector, that will undergo restructuring and benefit from a 1.5 bln euro bailout from international lenders, will be enhanced.

The finance ministry on Thursday published a roadmap agreed with international lenders for the gradual removal of capital controls, imposed in March to prevent a bank run following the European Union’s decision to grant Cyprus financial assistance.