The hydrocarbons issue has introduced potential for both Cyprus and Israel, and the region, while at the same time, the Eastern Mediterranean has become the focus of more attention, says Ambassador of Israel Michael Harrari.

Interest rates on loans to households recorded a general decrease in May 2014, according to figures released recently by the Central Bank of Cyprus and are included in the 'Interest Rate Statistics of Monetary Financial Institutions in Cyprus' for deposits and loans in euro for the reference month.

Bank of Cyprus (BoC) says it will seek investors for a potential capital increase of about €1b in a bid to expedite restructuring and further strengthen the Group’s financial position.

Fitch Ratings has upgraded Bank of Cyprus’ (BoC) long-term issuer default ratings (IDR) to CC from RD and Hellenic Bank’s (HB) to CCC from RD, according to a recent statement by the rating agency.

The government aims to collect €100 million in Immovable Property Tax (IPT), Interior Minister Socratis Hasikos said recently, adding that a bill reforming IPT must be put to a plenum vote.

TripAdvisor, one of the world's largest travel sites, honoured Cyprus Archaeological Museum and the Ancient Site of Kourion with the Certificate of Excellence 2014.

The rate of inflation decreased in June 2014 by -1.2% compared to -1.4% in May 2014 and 0.1% in June 2013, according to an official press release.

59% of Cyprus' government debt was financed by loans and the remaining 41% was financed by bonds, according to recent Eurostat figures.

'Future Earth', one of the most ambitious international programs of global sustainability, announced that the management of the program was entrusted to an international consortium in which CyI is a key participant, in charge of managing the Middle East/North Africa (MENA) region.

President Nicos Anastasiades recently reiterated the government’s determination to fully investigate the causes of the economic crash as steps were announced to that end.