The protection of offshore gas facilities within the exploration areas between Cyprus and Israel is a top priority between the two countries, with their ministers of defence agreeing this week to raise their military cooperation to new levels.

The European Union, led by Germany, has made Cyprus pay dearly for its alleged money laundering transgressions but one leading anti-money laundering expert questions how the EU will ever repay Cyprus if those charges are proved wrong.

President Nicos Anastasiades has invited the shipping sector to play a leading role in the recovery of the economy.

The European Commission has adopted a reprogramming plan that will help promote growth in Cyprus and strengthen the impact of EU regional funds.

Cyprus government to submit a provisional Immovable Property Tax legislation (IPT) in a bid to meet immediate bailout conditions.

A tenth decree issued by the Central Bank of Cyprus has further eased capital controls for transactions both within and outside the island.

Cyprus is on track to get €3 billion by the end of June after the Board of Governors of the European Stability Mechanism (ESM) decided to show 'solidarity' and grant financial assistance to the troubled island.

The European Investment Bank has approved a loan of up to €100 million for key investments in Cyprus.

Currency controls are expected to be lifted within the next few weeks, definitely within the next six months, according to Finance Minister Haris Georgiades.

Preliminary designs for an energy centre at Vasilikos are nearing completion while government seeks strategic investors for construction