All reports tagged with: "economy"
Kuwait and China show interest in Cyprus
Kuwait and China have shown interest in investing in Cyprus tourism, real estate, container management and energy sectors according to the Minister of Commerce, Industry and Tourism Antonis Paschalides.
Moody’s cuts Cyprus’ two main bank ratings
Moody’s has downgraded the deposit and debt ratings of the Bank of Cyprus and the Marfin Popular Bank. According to their report “The country’s real estate market, which is a significant component of the banks’ loan books, remains a risk area with unclear growth prospects and weak demand”.
Cyprus joins EU excessive deficit watchlist
The EU is proposing that the public finances of Cyprus, along with those of Denmark and Finland, requires further scrutiny as it poses a threat to the wider European economy.
Cyprus submits stability programme to EU
The Cyprus News Agency has reported that government has submitted its Stability Programme to the European Commission, which includes the basic targets to reduce the budget deficit to 6% in 2010 and below 3% by 2013.
Steps to speed Cyprus Title Deeds issue flop
In a leaked confidential letter to President Christofias, the Cyprus Finance Minister has admitted that steps taken to accelerate the issue of Title Deeds have not added a single Euro to the state’s coffers.
Is property in Cyprus overpriced?
In the wake of Cyprus’ remarkable real estate boom many people believe that property on the Island is overpriced. Here is a simple test to see if they are correct.
More attack Cyprus property tax grab
Property developers, estate agents and the Cyprus Chamber of Commerce have followed DISY Vice President Averof Neophytou in attacking the government’s proposed tax grab on property.
Another annus horribilis for Cyprus in 2010
Over the past week, a number of articles have appeared in the Cyprus media that have set alarm bells ringing for what 2010 has in store for the property sector and the Island’s economy.
Property sales to non-Cypriots improve slightly
Compared to previous months, the number of non-Cypriots buying property in November improved slightly. But as December is normally the quietest month for property sales, it seems unlikely that the total number of properties sold to foreigners will exceed 1,900 this year.
Built on greed and nepotism says Cyprus protester
The property industry in Cyprus is built on greed and nepotism. The developers borrow money from the bank using people’s homes as collateral and the banks and lawyers are part of the deception. I have proof that my home has been mortgaged by my developer.
