Mustafa Besim

With its pristine floor tiles and colorful storefronts, Famagusta's new City Mall symbolizes efforts by the northern part of divided Cyprus to encourage investment despite a decades-long trade embargo.

Like many projects in the Mediterranean island's north, the mall's backers received tax breaks from a government keen to boost the economy and become less dependent on Turkey.

With President Dr. Derviş Eroğlu repeatedly denying that talks with the Greek Cypriot side were in a deadlock and even Greek Cypriot opinion makers accusing Greek Cypriot leader Nikos Anastasiades of becoming a “conservative Christofias” interested only in stalling tactics, a paper stressed the peace dividend would radically change communal and individual prospects.

A study prepared by Turkish and Greek Cypriot economists predicts that a peace deal would generate 20 billion euros for the divided island, by expanding the size of their economies Cyprus reunification deal would generate a 20-billion-euro ($27.2 billion) peace dividend for the recession-hit island, according to a study released.

A Cyprus reunification deal would generate a 20-billion-euro peace dividend for the recession-hit island, according to a study released on Thursday.