Central government's public debt fell by €36 million and stood at €18.50 billion in the first quarter of 2015.

Global Finance Magazine has named Bank of Cyprus Best Sub-custodian Bank on the island for 2015, as part of Global Finance’s annual awards for the World’s Best Sub-custodian Banks for 2015.

The Public Debt Management Office of the Ministry of Finance announced that the recent auction of €50 mln 30-day Treasury Bills was oversubscribed by about 1.5 times.

Cyprus is a moderate innovator, according to the Innovation Union Scoreboard that provides a comparative assessment of research and innovation performance in Europe.

The Labour Ministry is expected to announce a €20m investment that aims to tackle unemployment and boost economic activity using three different schemes.

Eurobank Cyprus reported a post-tax profit of €8.1 million for the first quarter of 2015 along with strong liquidity and a high capital ratio.

Georgia is stepping up cooperation in taxation, customs affairs and a number of other avenues with Cyprus, Liechtenstein and Iceland.

Communications and Works Minister Marios Demetriades said recently the government is trying to pave the way for Cyprus-Brussels flights to be on offer twice a week all year round.

The Minister of Finance, Harris Georgiades, welcomed Cyprus’ return to growth recently, but warned that the recovery remains fragile.

More than 7,000 companies have been wound down since 2010 when the financial crisis started gripping Cyprus.