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Archive for May, 2011

Fitch cuts Cyprus rating on exposure to Greek debt

Fitch ratings agency has cut Cyprus’ sovereign credit rating from AA- to A- and is warning of another possible downgrade because of its banking sector’s large exposure to debt-laden Greece.

Slowdown in construction sector continues

Latest figures from the Statistical Service confirm that the slowdown in the Island’s construction sector continues with the number of building permits issued in March falling by 23.4 percent compared with March last year.

Working together to end title deed scam

Britain’s 72 MEPs have been asked to put aside their political allegiances and work together on behalf of British property buyers in Cyprus who have been left without title deeds to their homes.

MEP supports those affected by the property scandals

This week, Sajjad Karim MEP gave his support to those UK citizens who have bought property in the Republic of Cyprus and have been affected by the on-going issues regarding the ownership of their homes.

Police in move to get touts out of Paphos

In an attempt to clear Paphos of timeshare touts and others who accost and worry tourists, the police have set up telephone hotlines where the public can report nuisances anonymously.

Cyprus: a concrete jungle

Cyprus is rapidly losing soil through urban sprawl and dominating touristic infrastructure intensity and is under enormous land use pressure according to a recently published EU soil quality report.

Britain to review Cyprus military bases

Britain will review its military bases in Cyprus as it seeks to extract maximum value from a shrinking defence budget, Defence Secretary Liam Fox said in a statement to the UK parliament on Tuesday.

Claim back Cypriot VAT on property purchase

Under the Special Grant for Purchasing or Building a Residence, Law N.91(I)/2006 a special grant is available to qualifying individuals for a VAT grant from the government.

Cabinet approves Qatar real estate deal

Cabinet has approved the multimillion Euro deal with Qatar to develop prime real estate in the capital, opening the way for the joint venture to be realised.

Paschalides ready to sign Ayia Napa marina deal

Earlier today, Antonis Paschalides spoke about a deal for the construction of a marina at Ayia Napa and also urged Paphos businessmen to resolve their differences that are delaying the Paphos marina project.

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