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The major problem of non-performing loans

Banks in Cyprus could secure the collection of significant parts of loans that are currently not being serviced by managing their non-performing loans more efficiently as Dr George Mountis explains.

US group plans expansion to Cyprus

Realty Group International, Inc. (RGI), headquartered in Beverly Hills, with offices in London, Paris, Rome, Barcelona and Rio de Janeiro has announced plans to expand into Cyprus.

Residential property prices fall 1.7 per cent

Residential property prices in Cyprus continued to fall in the third quarter of 2014, according to a Eurostat newsrelease published today, falling 1.7% compared to the third quarter of 2013.

Land Registry corruption investigation

A number of land registry officials were taking bribes according to an internal audit and are under investigation for corruption; warrants have been issued to locate the money they took.

Collateral gap at €15 billion

Figures presented to parliament today by the Governor of the Central Bank of Cyprus reveal that there is a shortfall of almost €15 billion in the value of collateral offered to secure loans.

Bank loans of up to €15,000 will be written off

Bank loans of up to €15,000 will be written off if low income borrowers can demonstrate their inability to service them under the provisions of the insolvency framework being discussed by the House.

Building permits down 2 per cent

The latest figures from the Cyprus Statistical Service report that the number of building permits issued in October 2014 stood at 446; a 2 per cent fall on the number issued in October 2013.

Cyprus programme review delayed

The European Commission has said that it cannot continue with the next review of the Cyprus adjustment programme following a decision by parliament to delay the Foreclosures Law.

ECJ ruling protects consumers with Swiss franc loans

Consumers who received a loan in a foreign currency from a bank are protected from exchange rate fluctuations by a ruling of the European Court of Justice according to lawyer Pavlos Angelides.

Ayia Napa marina gets green light

Although contracts were signed two years ago, the Town Planning Department has just been given the go-ahead to issue a licence for the construction of the long-awaited Ayia Napa marina.

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