Latest Headlines

Archive for March, 2017

Red light for Limni golf courses

The European Commission has but the brakes on the controversial Limni golf project following a caution from the EU in 2015 and a request for a conservation study to be commissioned into the effects of the project and surrounding areas.

IMF to visit Cyprus

A delegation from the International Monetary Fund (IMF) will visit Cyprus next week for talks to evaluate the economy of the country following the island’s successful conclusion of its economic adjustment programme.

Non-performing loans at 47 per cent

Non-performing loans in the Cypriot banking system stood at 47% of total loans at the end of December 2016; a fall of €3.7 billion in two years to €23.7 billion according to data released by the Central Bank of Cyprus.

Larnaca marina and port proposals received

Five proposals from various consortia have been received for the development of Larnaca marina and port following many years of delay and after the previous bidder Zenon Consortium failed to find the necessary funds.

Standard & Poor’s raises Cyprus rating

Ratings agency Standard & Poor’s has raised its foreign and local currency long-term sovereign credit ratings on the Republic of Cyprus to ‘BB+’ from ‘BB’ and has affirmed its ‘B’ foreign and local currency short-term sovereign credit ratings.

Key findings of Cyprus real estate conference

Key findings form a real estate conference to discuss the state of the Cyprus property market recently hosted by RICS (Cyprus) at which the management of REOs and NPLs were also discussed.

MPs seek sewerage rate reduction

Sewerage rates in Cyprus, which are based on a property’s value as determined by the Land Registry need to be revised following the property revaluation exercise carried out in 2013 to prevent astronomic rises.

Paphos marina faces further delays

The Paphos Grand Marina project, which has already been delayed by more than a decade, may face yet another delay following a decision by the authorities to refer the matter to the attorney-general.

Building permit regulations to be re-examined

The Interior Minister’s building permit decree designed to curb profiteering in non-residential areas by property developers has been criticised by Parliament; further consultations will be held.

Concerns over massive Peyia project

A massive development proposed for a hillside above Peyia in Paphos will irreversibly devastate the natural environment, put pressure on infrastructure and create new homes where thousands remain empty, according to environmentalists, opposed to the project.

Page 1 of 212

Back to top