Nicosia

NICOSIA/BELGRADE - Serbian Defence Minister Bratislav Gasic conferred with Cypriot Defence Minister Christoforos Fokaides concerning the improvement of military-economic cooperation on Friday.

Gasic conferred with Fokaides during the visit to members of the Serbian Armed Forces who are participating in the UN Peacekeeping Force in Cyprus (UNFICYP).

President-elect Recep Tayyip Erdoğan’s first itineraries abroad will be North Cyprus and Azerbaijan on Sept. 1 and 3 respectively, in line with the country’s state traditions.

NICOSIA – Cyprus will grant its first license for a casino resort within about a year, the government said on Friday, to be built in the south of the island where gambling has been strictly prohibited. Scores of Greek Cypriots regularly cross into the north of Cyprus, a breakaway Turkish Cypriot state recognized only by Ankara and where there are several casinos.

NICOSIA – Bailed-out Cyprus is likely to return to growth next year, the International Monetary Fund said on Wednesday, but cautioned the outlook was tempered by tensions over Ukraine and banks’ rising bad loans.

LONDON/NICOSIA – Bank of Cyprus, which has just raised 1 billion euros from investors, plans to sell up to 1 billion euros in bonds in September, chief executive John Hourican said, a move that would mark a rehabilitation of the eurozone’s first bank to recapitalize using depositors’ cash.

A team of officials from the European Commission, the European Central Bank and the International Monetary Fund concluded a visit to Nicosia, Cyprus, on Friday, for the fifth review of the island-state’s bailout program.

The ruling Justice and Development Party (AKP) has said that the pipeline project that will transport water from Turkey to northern Cyprus via tunnels under the Mediterranean Sea will be completed shortly.

The AKP’s İhsan Şener, who is in charge of promotion and media affairs, stated that the party expected the pipeline project to be completed and opened in September.

Cypriot President Nicos Anastasiades is due in Athens on Monday to discuss the ongoing reunification talks on the island with Greek Prime Minister Antonis Samaras and Foreign Minister Evangelos Venizelos.

Ryanair will probably submit an expression of interest in troubled Cyprus Airways, which is up for sale, Chief Executive Michael O’Leary said on Tuesday.

The Cypriot government in mid-July invited non-binding expressions of interest in its shares or assets in Cyprus Airways, a state-controlled airline which has posted heavy losses for years.

Deputy Prime Minister Evangelos Venizelos has attributed reports of differences between him and Prime Minister Antonis Samaras over foreign policy issues to detractors who would rather see New Democracy cooperate with the far right than PASOK.