Cyprus

Cypriot Energy Minister George Papanastasiou announced on Wednesday that the obstacles in the development plan for the Aphrodite gas field have been overcome, marking progress in Cyprus' energy ambitions.

Cyprus appealed on Wednesday for vigorous action from the EU to stem a recent tide of mostly Syrian refugees arriving by sea via Lebanon, saying the island's reception capacity was at breaking point.

Τhe Cypriot government will request that Greece's Independent Power Transmission Operator (ADMIE) carry out a cost-benefit study as regards the Cyprus-Greece electricity interconnection (Great Sea Interconnector), Cypriot Energy Minister Giorgos Papanastasiou said on Tuesday.

Total deposits in Cypriot banks recorded a significant net increase by €65.4 million euros in February, following a slump of €366 million the previous month, while loans recorded a large net increase of €348.9 million after a net decrease of €122.9 million recorded in January.

By enlisting the help of the FBI - as announced recently - Cyprus is making an effort to deal with the problem of corruption that has been a blight on the country's reputation for so many years.

Canadian credit rating agency DBRS Morningstar has affirmed the Republic of Cyprus' long-term ratings, maintaining it at BBB (high) with a stable economic outlook.

The United States and Cyprus said Tuesday they're formalizing their collaboration in fighting money laundering, sanctions evasion and other financial crimes with an agreement offering Cypriot law enforcement authorities US expertise.

Cyprus' main exports for 2023 included mineral fuels and oil, halloumi and pharmaceutical products, according to the Cyprus Statistical Service (CyStat).

In an infographic published on Tuesday, CyStat shows that Cyprus exported 508.39 million euros of domestically produced goods to EU countries and another €1.84 billion to third countries.

The United States and Cyprus are to boost their cooperation in enhancing Cypriot capabilities in countering and prosecuting illicit finance operations, the two governments said on Tuesday.

Cyprus has long had an unwanted reputation as a conduit for illicit money flows, even though authorities have significantly tightened oversight and closed loopholes in the past decade.

This past week Washington's attention has been on Cyprus and the humanitarian corridor from Gaza, from President Biden's letter thanking President Christodoulides, to the National Security Council's chief of staff visiting Cyprus. 

Cyprus is also going to be a central theme for diaspora Greeks as celebrations for Greek Independence Day take place.