Korea is determined to increase its commercial presence in Cyprus, following the successful deal concluded last month with a consortium of South Korea's KoreaGas Corp and Italy’s Eni (ENI/KOGAS) for hydrocarbon exploration licenses in three offshore blocks.

Cyprus continues to be an excellent export platform for foreign and local investors irrespective of current conditions and the country has every possibility to play a catalytic role in the region’s financial growth, says President of Cyprus Demetris Christofias.

French energy giant Total has been granted a license to carry out hydrocarbon explorations in two offshore blocks in Cyprus’s Exclusive Economic Zone (EEZ).

Rapid changes in the global tourism industry, new prospects for Cyprus, and increasingly intense competition will be in focus at the annual Cyprus Hotels Association (PASYXE) conference in Nicosia next week.

Russia is considering extending the maturity of a €2.5 billion loan to help Cyprus manage its debt crisis, rather than offering a new loan.

Russia is considering extending the maturity of a €2.5 billion loan to help Cyprus manage its debt crisis, rather than offering a new loan.

The Cabinet has approved the establishment of the Energy Policy Council with a view to hold regular briefings and exchange of views between the Minister of Commerce and parliamentary parties on energy matters.

The Natural Gas Public Company (DEFA) has received eight proposals from companies interested in supplying the island with natural gas.

Cyprus could become one of the major natural gas liquefaction terminals in the world, says Minister of Commerce, Industry and Tourism Neoclis Sylikiotis.

Cyprus stands ready to undergo any inspection on its anti money laundering legal framework, Finance Minister Vassos Sharly told Dutch lawmakers, adding that Cyprus has nothing to hide.