Latest Headlines

Archive for June, 2012

Russia and Cyprus close to loan deal

Finance Minister Vassos Shiarly has refused to speculate on Russian media reports that Russia is close to agreeing a loan deal worth 5 billion Euros with Cyprus to prevent it seeking an EU bailout.

UK jurisdiction granted in High Court ruling

The jurisdiction hearing at the High Court in London has concluded that Brits who purchased property in Cyprus can have their cases against their developer heard and decided by the UK court.

Energy Performance Certificates

Residential properties, both new and existing, are required by law to be certified – a fact that seems to have slipped under the radar for more than two years; Xenios Sofianos explains.

Moody’s pushes Cyprus deeper into junk status

Moody’s has downgraded Cyprus government bond ratings two notches pushing it deeper into junk status on fears that Greece will leave the Eurozone and placed the ratings on review for further possible downgrade.

Cyprus seeking help from Russia and China

Deputy Europe Minister Andreas Mavroyiannis said that Cyprus could seek help from Russia and China in efforts to secure 1.8 billion Euro to recapitalise the Popular Bank and it could need as much as 4 billion Euro.

Development of Larnaca airport hits problems

A meeting will take place today to view a number of snags relating to the plan to transform the old Larnaca airport into a commercial centre by the Chinese company Far Eastern Phoenix.

Two Cypriot banks downgraded by Moody’s

Moody’s Investor Services had downgraded the Bank of Cyprus and the Hellenic Bank and has rated them and the Cyprus Popular Bank on review for downgrade as a result of their extensive operations in Greece.

Bailout request before end of month

It seems incredible that the Island’s government could be going cap in hand to the EU for a bailout before the end of the month, when just a few years ago it told us that we were immune from the world’s economic woes.

British consumers seek UK justice

British consumers who bought property in Cyprus are taking action in the High Court in London on Wednesday in an effort for their cases against Cyprus-based organisations to be heard and decided in a UK court.

Decision over gas terminal final

The Minister for Commerce Industry and Tourism, Neoclis Sylikiotis has announced that decisions concerning a liquid natural gas terminal have been made and that negotiations will start in the near future.

Back to top