Sofronis Clerides

Almost all of the productivity growth in Cyprus' economy over the past three years can be attributed to the information and communication technology (ICT) sector, according to the third Competitiveness Report of the Cypriot Economy released by the Cyprus Economy and Competitiveness Council (CEC).

By Michele Kambas

Cyprus freed capital flows on Monday, ending two years of controls that set an unwanted precedent for the euro zone at the height of the bloc's debt crisis.

The Mediterranean nation became the first and, to date, the only euro zone member to impose controls, acting to stem a flight of capital from its banks in March 2013.

By Michele Kambas

French energy company Total is likely to abandon a search for oil and gas off Cyprus after failing to find tangible evidence of reserves, dealing a blow to the island's hopes of a natural resource bonanza after a painful bailout in 2013.