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Archive for June, 2012

Fitch downgrades Island’s top three banks

Following Fitch Rating’s downgrading of the Island’s credit rating to junk on Monday, Fitch downgraded the Island’s top three banks – the Bank of Cyprus, the Cyprus Popular Bank and the Hellenic Bank earlier today.

Papal infallibility in Cypriot companies

Years of meteoric growth in the economy when everything you touched turned to gold lead many Cypriot companies to believe they were infallible and ignore issues such as downside risks.

Cyprus bids for EU bank bailout

Cyprus has become the fifth Eurozone country that has turned to Brussels for emergency funding. It is seeking a lifeline for its banks and its budget, hours after Spain submitted a formal request to bail out its banks.

Venus rock resort under construction

Golf & Land Design’s plans and vision are quickly being realised at the Secret Valley golf Club at Venus Rock Resort in Cyprus, where the first of two new 18 hole golf courses is under full construction.

Fitch cuts Cyprus credit rating to junk

Credit ratings agency Fitch downgraded the Island’s credit rating to “junk” status earlier today due to the amount of rescue money needed to bail out its banks, which are heavily exposed to the Greek economy.

Banks and government destroying property market

The banks and the government have joined the band of ‘crooks’ masquerading as property developers and estate agents who seem intent on destroying the Island’s once thriving property market and its reputation.

Chinese investors eyeing Malta

Delays by the Island’s government in completing a proposal for the Chinese company Far Eastern Phoenix (FEP) to redevelop the old Larnaca airport could result in Cyprus missing out on the investment altogether.

Gotcha, Gotchiani!

Good news! One of our occasional contributors, Dr Alan Waring, is finally getting the Title Deeds to the property that he and his wife purchased in Oroklini – a mere eight years after they took delivery.

Have property prices reached rock bottom?

Residential property prices across the Island have been falling for some time. Have they reached rock-bottom? is there an upturn on the way? What do the price figures from RICS reveal?

Cyprus property prices and rents continue to fall

The tenth publication of the RICS Cyprus Property Price Index shows a continuing drop in property prices and rents across the main urban areas of the Island during the first quarter of 2012.

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