Bank of Cyprus will soon decide if it will advance to a share capital increase by the end of June, after the financial institution declared its first profit in seven quarters.

Russia's Deputy Minister of Foreign Affairs Aleksey Meshkov is scheduled to arrive in Cyprus on May 28th, on an official two day visit.

Today, U.S. Vice President Joe Biden is en route to Cyprus, to focus on the island's reunification process and its gas deposit advancements, that could transform the nation into a stable and leading supplier.