Minister of Finance Harris Georgiades has outlined certain details of the government's plans as regards the future of Cyprus Telecommunications Authority (Cyta) to its employees.

Despite the international adverse economic conditions and the financial difficulties that Cyprus has been facing during the last years, the shipping sector has maintained its competitiveness and perspectives as a result of combined efforts from the public and private sectors, said Transport, Communications and Works Minister Marios Demetriades.

Cyprus is among the top three countries in the EU with the cleanest beaches scoring 100%, according to a study by the European Environment Agency (EEA).

A periodic review of Cyprus’ bailout programme has been successfully concluded, the European Commission, European Central Bank and the IMF said recently, a key step for the country to take part in the ECB’s money printing programme.

On-site inspections have taken place of the cable landfall area near Haifa, in Israel, from where the EuroAsia Interconnector project will be launched, with Cyprus expected to join the grid in 2019.

The island’s tourism is seeing positive trends as the season gets into full swing, officials said recently, as they focus their efforts on reducing the loss from the Russian market.

Annual inflation dropped again in Cyprus in April 2015, to -1,7%, compared to -1,4% in March 2015, according to Eurostat.

Business leaders recently called the government to push forward with public service reform, increase development, end bureaucracy, maintain Sunday opening and limit strikes in essential services, saying that so far the well-worn slogan that ‘the crisis brings opportunities’ remains just that.

President Nicos Anastasiades announced recently that the government is moving forward with a plan to cut taxes along with offering incentives for foreign investors.

A delegation from the European Space Agency (ESA) is due in Cyprus in June 2015 to update the joint assessment of the island’s space activities, said Communications Minister Marios Demetriades recently.