Cyprus

Troika happy with progress in Cyprus

The streamlining program of the Cypriot economy remains on course and recession projections for 2014 have been revised from 4.8 percent to 4.2 percent, according to a statement by the island’s international creditors which opens the way for the disbursement of the fourth bailout installment worth 686 million euros.

EBRD shareholders agree on investments for Cyprus for limited period

The European Bank for Reconstruction and Development said on Thursday its shareholders had voted to allow Cyprus to receive investments from it for a limited period.

The EBRD, holding its annual meeting in Warsaw, voted to provide up to 700 million euros of financing to Cyprus over the next six years.

Cyprus relaxes banking restrictions

Cyprus relaxes banking restrictions

Cypriots can now cash cheques and have higher limits on transactions. Also in business news: Switzerland will grant 500 Croatian workers access to the country's labour market.

Banking regulations were imposed last year as part of the austerity measures in Cyprus. [AFP]

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