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Archive for August, 2012

Banker quits citing ‘serious health reasons’

Theodoros Aristodemou, the founder and MD of Aristo Developers Limited, has resigned his position as the chairman of the Bank of Cyprus citing ‘serious health issues’ as his reason.

Investigators to report criminal liability

The firm appointed by the Cyprus Central Bank to investigate why the Bank of Cyprus and the Cyprus Popular Bank had to seek state support will also look into possible criminal offences.

Cyprus ranked in top 10 countries

Cyprus has moved up into the top ten countries for those seeking out investments in overseas property according to the latest ‘Top of the Props’ chart published by the

Russian overseas property buyers

The results of a survey conducted by the Tranio.Ru Internet Centre of Overseas Property portal provides an insight into Russian overseas property buyers, where and what they are looking to purchase.

Corruption investigation delays Chinese deal

The Chinese company intending to invest at the old Larnaca airport is on a watch list of companies under investigation for corruption charges according to a report by state broadcaster CyBC.

Worries over new concrete buildings safety

The Cyprus Scientific and Technical Chamber (ETEK) says that the government allowed dangerous changes to be made to concrete standards last year lowering the quality and durability of buildings.

Critical meeting to save Chinese airport deal

The Minister of Communications and Works, Efthimios Flourentzou, will meet the Chinese investor interested in redeveloping the old Larnaca airport in an effort to persuade him not to pull out.

Chinese multi-million airport deal collapsed

The multi-million Euro plan to develop the old Larnaca airport into a commercial showroom for Chinese products and a logistics centre has collapsed; the Chinese investor is no longer interested.

UK tax man targets offshore bank account holders

A nationwide HMRC programme is tracking down UK taxpayers with offshore bank accounts in Cyprus and pursuing them for unpaid taxes on the interest earned on their capital.

A plan for all reasons

Proposals to resolve property purchase disputes in Cyprus without litigation and restore the credibility of its public, property and financial sectors have been submitted to the Cyprus Government.

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