Cyprus and its international lenders have agreed in principle on an updated MOU, following the second review of the Republic’s €10 billion financial assistance programme. Finance Minister Harris Georgiades and the Troika heads (European Commission, European Central Bank and the IMF) were meeting on Thursday to clarify the last remaining issues that would close the

Cyprus remained in deflation for four consecutive months in 2013 amid the adverse financial environment. According the Cyprus Statistical Service, the Cyprus Consumer Price Index (CPI) for October increased by 0.11 units or 0.09% to 118.68 units compared to 118.57 in September. This is mainly due to increases in the prices of clothing and footwear

Cyprus is looking into the possibility of transferring water from Lebanon, either by ships or via a pipeline, Minister of Agriculture, Natural Resources and Environment Nikos Kougialis said Thursday after a meeting in Nicosia with the Minister of Energy and Water Gebran Bassil. Kougialis said their discussion focused on the issues of water resources and

After months of gloomy trades, the Cyprus Stock Exchange has enjoyed a rebound in investor activity, with the General Index rising about 7.5% on Wednesday to 122.47 points, primarily driven by second biggest lender Hellenic Bank’s success in finding major investors last Friday. HB shares enjoyed a three-day rally closing on Wednesday at 9.7c, up

The Cyprus government signed a Memorandum of Understanding with Total E&P Cyprus B.V. on Thursday for its own production train at the land-based liquefied natural gas (LNG) plant that will be built at the Vassilikos energy hub, some time after 2016. Already, Houston-based Noble Energy and its Israeli joint venture partners, Delek and Avner, who

A senior United Nations official is reported to have put water in his wine and backed down from pushing through an ultimatum to restart peace talks that caused tension among Cyprus politicians. U.N. Special Envoy Alexander Downer held a much anticipated meeting with President Nicos Anastasiades late Wednesday where the main item on the agenda

Greek riot police stormed the building of former state television ERT on Thursday and evicted dozens of protesters occupying it since June when the government abruptly shut the broadcaster. Scuffles broke out between some protesters and riot police, who had cordoned off the area and blocked the entrance to the building. ERT's closure – aimed