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Archive for February, 2013

Construction workers strike may spread

Striking construction workers received support from trade unions representing more than three quarters of workers who may call members out on a general strike if their dispute is not settled soon.

Fitch downgrades Cypriot covered bonds

Following yesterday’s storming of the Bank of Cyprus by angry investors who claim they were mis-sold high-yield bonds, Fitch Ratings has downgraded the covered bonds of the Bank of Cyprus and the Cyprus Popular Bank.

VAT on property purchases

Although the standard rate of VAT in Cyprus was increased to 18 per cent on 14th January 2013, concessions are available for those buying property as their first and primary residence.

First marina apartments delivered

The first ninety four apartments on the new marina development in Limassol have been delivered marking the completion of beginning of the project’s operation; the first yachts are anticipated to arrive in March.

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