Nicosia

Turkey has no plans to pay 90 million euros ($124 million) to Cyprus as ordered by the European Court of Human Rights (ECHR), Foreign Minister Ahmet Davutoglu said on Tuesday.

The money was ordered in compensation for Turkey's invasion of the island 40 years ago.

A delegation from the troika of international lenders on Tuesday began its fourth assessment of Cyprus’s economy and troubled banking system to see whether Nicosia is meeting its obligations under the bailout.

New sewage plant contributes to peace in Cyprus

Development of a new sewage treatment plant in Nicosia brought the Turkish and Greek communities together with a new hope of peace and tolerance.

UN peacekeeping troops patrol the Green Line in Nicosia. [AFP]

A new sewage plant was opened in Cypriot capital Nicosia by the mayors of northern and southern part of the city as a joint initiative of the city's Greek and Turkish population.

The high-tech plant costs EUR 29 M, with a third of the money provided by the European Union, BusinessWeek reported.

EU supporting water treatment effort in Cyprus

Cyprus wants to shield financial flows with Russia, where it’s the biggest foreign investor, as the US and the European Union ratchet up sanctions in response to President Vladimir Putin’s annexing Crimea from Ukraine.

Moody's, one of leading rating agencies, has reassessed the outlook of Cyprus to positive.

The agency cited an unexpected fiscal and economic performance over the past year as a reason, Deutsche Welle has reported.

Cyprus will not change stance on Kosovo status

BELGRADE -- Cypriot FM Ioannis Kasoulides said on Monday that Serbia's membership of the EU is of vital importance for the stability and prosperity in the Western Balkans.

After meeting with Serbian Foreign Minister Ivan Mrkić, Kasoulides said that Cyprus maintains the position not to recognize Kosovo.