Latest Headlines

Archive for February, 2012

Casino revenues could help fill government coffers

The Finance Ministry has prepared a proposal for licensing a number of high-quality casinos in Cyprus, according to documents presented by the Greek-language newspaper Politis.

Striking construction workers threaten further action

The Valentine’s Day strike by workers in the Cyprus construction industry went ahead as planned with the strikers threatening to visit construction sites today to ensure there are no subcontractors working.

Slowdown in the Cyprus construction sector continues

Figures released by the Cyprus Statistical Service (CySTAT) earlier today reveal that the slowdown in the Island’s construction sector is continuing and is showing no signs of a recovery in the near future.

Residents in hot water over swimming pool regulations

A group of residents in Kato Paphos are demanding that the Cyprus laws on private swimming pools are updated after their passports were temporarily confiscated over non-compliance with regulations.

European Commission replies to property complaints

The Civil Justice Directorate of the European Commission has replied to numerous letters of complaint it has received concerning Cyprus property developers and unfair commercial practices.

When will the government protect property buyers?

A British buyer asks the Cyprus government when is it going to enforce existing legislation designed to protect the rights of those buying property and take action to pursue the guilty parties?

Valentine’s day construction workers strike confirmed

Workers in the construction sector have confirmed that they will go on a 24 hour strike on Valentine’s day in a protest against “attacks on wages and benefits from a large number of employers”.

Interior minister calls for amnesty submissions

Interior Minister Neoclis Sylikiotis has called on those whose properties suffer from planning irregularities to submit Letters of Intent under the provisions of the Town Planning Amnesty before 7th April.

Fitch downgrades covered bonds of two Cyprus banks

The covered bonds of the Bank of Cyprus and the Marfin Popular Bank have been downgraded by Fitch Ratings following the downgrade of Cyprus’ sovereign rating and the subsequent downgrades of Marfin and BoC’s’ Long-Term Issuer Default Ratings.

Property prices will continue to fall in 2012

Seventy percent of those who voted in a recent online poll conducted by the Cyprus Property News believe that property prices on the Island will continue to fall during 2012, while eleven percent believe they will increase.

Back to top