The Cyprus Investments Funds Association are urging the state to consider issuing Islamic bonds (Sukuk) similar to a 5-year issue by the UK government that raised nearly €200m, while Luxembourg is also planning something similar.

The number of applications filed for registrations of new companies rose for the sixth consecutive month in June 2014, on an annual basis, figures released recently by the Department of Registrar of Companies and Official Receiver show.

The Cyprus Tourism Organisation (CTO) has launched a campaign to promote the Cypriot breakfast as part of wider scheme to strengthen the island’s tourism product.

Cyprus property sales to foreigners recorded an increase of 6.8% in the first quarter of 2014, according to Urban Splash Real Estate & Chartered Surveyors.

Loan restructuring will slow down until the European Union’s bank stress tests are completed, Central Bank Governor Chrystalla Georghadji said recently.

Negotiations between state hydrocarbons agency CHC and Noble-Avner over the prospect of channelling natural gas from Israel’s Leviathan reserve to Cyprus are in good shape, the agency said recently.

Northern Lion Gold Corp. (the Company) has commenced a 1,500 metre diamond drill program in Cyprus with project partner, Centerra Gold (KB) Inc., a subsidiary of Centerra Gold Inc. (collectively Centerra).

Cyprus River Holdings Ltd. (Cyprus River), an insider of Rio Novo Gold Inc. (Rio Novo), announced that on July 3, 2014, through its wholly-owned subsidiary Zoneplan Ltd. (Zoneplan), it acquired ownership and control over shares of Rio Novo.

The government of Cyprus is aiming at deepening its strategic partnership with the United States, in order to secure its support for Nicosia's energy designs, Energy Minister Yiorgos Lakkotrypis said recently.

President Nicos Anastasiades recently said that his administration would launch an attack on bureaucracy, to facilitate business activity and stimulate the island's economy.