Recent events include the first ever visit by an Israeli Prime Minister to Cyprus; the signing of an agreement that will allow IDF planes and ships to use Cypriot airspace and territorial waters; and the launch of a joint natural gas and oil exploration venture.
http://www.jpost.com/DiplomacyAndPolitics/Article.aspx?id=258093
http://www.globes.co.il/serveen/globes/printwindow.asp?did=1000725505
http://www.ynetnews.com/articles/0,7340,L-4191270,00.html