A fact-finding mission is underway by World Bank experts in relation to restructuring the agriculture ministry.

The biggest dangers for the banking sector have been overcome, the finance minister said, following the election of a board to the island’s biggest lender, the Bank of Cyprus (BoC).

The long-awaited offshore natural gas production test got underway and the flame was finally ignited following the repair of a glitch that temporarily halted the process last week.

A high-ranking officer from Russia’s Itera will be holding talks with officials here tomorrow in an apparently last-ditch attempt to close a deal on interim supplies of natural gas.

The government will go ahead with the privatisation of semi-government organisations (SGOs) very soon because it is part of the Memorandum of Understanding (MoU) with the troika, deputy government spokesman Victoras Papadopoulos said yesterday.

Azadea Group, the Middle East operator of clothing and restaurant franchises, has acquired the rights to distribute the Gap brand in Cyprus and will open a new Gap store in My Mall Limassol in November.

Cyprus is vulnerable to “major restructurings” of its debt over the coming years, Moody’s Investors’ Service has said.

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.