A draft law that a group of European Union lawmakers voted for on Monday would shield small depositors from losing their savings in future bank rescues, but customers with more than €100,000 in savings when a bank failed could suffer losses.

Air France and Cyprus Airways are offering a total of 20 daily code-share flights as of this week.

Dolphin subsidiaries Aristo Developers and Venus Rock Estates agree on €290m golf resort deal.

A team of troika technocrats have arrived in Cyprus to monitor developments in the island’s financial sector.

The education ministry has announced it would be granting €4 million in student grants for those studying at state-run and private universities for the current academic year.

The new law aimed at enabling cooperative banks to raise capital paves the way for better running, more modern entities, the co-op banks’ supervisor said yesterday.

The government expects borrowing rates to fall in line with a reduction in deposit interest rates, the spokesman said yesterday.

The twelfth decree on capital controls was released yesterday with two new relaxations.

Public finances recorded a surplus of €44.2m during the first quarter of 2013 due to a reduction of government expenditure by 17.2 per cent.

The University of Cyprus’ medical school will start as scheduled in September despite a bill which was submitted to parliament to postpone the opening.