The Finance Ministry presented to the political parties the stimulus package aimed at boosting economic growth.

The lengthy document obtained by CNA provides for a broad spectrum covering all sectors of the economy. The package will be submitted to the Council of Ministers for approval.

Concerning unemployment which reached 9.3% in 2011, the Finance Ministry in collaboration with the Ministry of Labour and the Human Resources development authority will introduce a scheme giving special emphasis on the skills of the unemployed persons totaling 20 million euros, as well as the introduction of the extraordinary scheme for hiring long-term unemployed persons and young people with a budget of 8 million euros.

Concerning development projects the Finance Ministry will prioritise the various projects according to their maturity, the contribution to employment, while it will prepare an action plan to be presented to prospective investors. The Finance Ministry will also set a department in the Planning Bureau to manage the projects to be implemented under the Public - Private Partnership venture.

UN Secretary General Ban Ki-moon has full confidence in his Special Adviser on Cyprus, Alexander Downer, according to the UN chief`s Spokesman Martin Nezirky. Commenting on press reports concerning the Cypriot House of Representatives` decision concerning Downer, Nezirky said ``of course we are aware of the stories.`` ``The Secretary General has full confidence in his Special Adviser, Alexander Downer,`` Nezirky added. The House of Representatives decided to request of the UN chief to urgently restore the impartiality and credibility of his special adviser.

Tackling unemployment is governments top priority, President of the Republic Demetris Christofias underlined on Friday, noting that soon a new set of measures will be presented, aiming to longtime unemployed and the youth. Speaking at the cornerstone laying ceremony of the new Library of the University of Cyprus, the President said that between 2009 and 2011 a total of 8.500 people found jobs through the various governmental programs which cost 53 million euro.

He went on to say that with the new set of measures to be presented soon, the government will give incentives to companies in order to hire young people longtime unemployed. Christofias also said the prospects for the economy are positive, based on the fiscal consolidation, the discovery of natural gas in Cyprus Exclusive Economic Zone and the interest for investments.

Feb 2 (Reuters) - Cyprus is considering selling up to a majority stake in troubled state-controlled carrier Cyprus Airways to shore up the airline's ailing finances, its finance minister said on Thursday.

Cyprus Airways has gone through several overhauls in recent years but has been hobbled by stiff competition from cheaper carriers on its most lucrative routes and rising fuel costs. The state controls 69 percent of the airline.

"We have prepared a proposal which will be sent to the cabinet ... where I will ask a decision be taken by the government that it is ready to negotiate with a strategic investor or partner, not excluding the granting of a majority stake," Finance Minister Kikis Kazamias said.

Russia’s Deputy Minister of Energy Yury Sentyurin will be visiting Cyprus next week for the Russia-Cyprus Business and Investment Forum to take place Friday 10th in the coastal town of Limassol. Sentyurin will be moderating a panel discussion entitled “Business Opportunities”.

Speaking to the press on Thursday, Fedias Pilides, President of the Cyprus Chamber of Commerce and Industry (CCCI) which is co-organizing the event, noted the importance of Sentyurin’s visit to Cyprus, adding that “energy issues as well as other matters are of high interest for the Russians”.