Latest Headlines

Archive for September, 2016

Gary Robb ordered to pay £1.6m tax

Convicted fraudster Gary Robb who was forced to repay more than £1m to victims of a property scam has now been ordered to pay £1.6m in tax on his illicit earnings from drug dealing.

Cyprus economy recovery fragile

Although the Cyprus economy is recovering it is still fragile and it needs to implement key reforms in order to unlock its potential, including the enforcement of property rights, European Commissioner Pierre Moscovici has said..

Developer fined for misleading home buyers

Pafilia Cyprus Property Developers has been fined €100,000 for mis-leading home buyers in a case that focused on the commercial practices that the company used in 2007 when selling apartments to them.

Chinese investor interest grows

Chinese investors are attracted to Cyprus due to the offer of passports and a recovering economy and are catching up with Russian investors when it comes to Cypriot passports.

Foreign buyers driving property recovery

The recovery in the Cyprus property market is being driven by foreign purchasers and is expected to gradually push up prices according to the Chairman of the Cyprus Real Estate Agents Association.

MPs warn banks over Swiss franc loans

MPs in Cyprus have warned the banks that they might pass punitive legislation if they fail to offer households with Swiss franc loans better terms; many borrowers claim they were misled to the real risk involved.

Renewed interest in Larnaca airport

There is renewed interest in the old Larnaca airport by a Chinese consortium that plans to use the site as a wholesale commercial park and re-export products to the Middle East and EU member states.

Revised citizenship scheme approved

The Cyprus government has approved a revised citizenship-by-investment scheme designed to further encourage investments in the island’s economy by non-Cypriot businessmen and investors.

Court bans banks foreclosing

The Larnaca District Court has banned banks from foreclosing on properties used as collateral for loans for which courts gave the go ahead before the new foreclosure law came in effect last year.

Slight fall in building permits

The number of building permits authorised by the municipal authorities and the district administration offices during June 2016 stood at 455 according to the Cyprus Statistical Service.

Page 1 of 212

Back to top