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Archive for October, 2014

Non-performing loans €27.90 billion

Non-performing loans (NPLs) in the Cypriot financial system fell from €27.95 billion in July to €27.90 billion in August, approximately 175 per cent of Cyprus GDP according to the Cyprus Central Bank.

Paying Immovable Property Tax 2014

I am grateful to Mr. Christofi at the Tax Department in Nicosia for the following information concerning the payment of Immovable Property Tax by those who have yet to receive their Title Deeds.

Paphos mayor in court today (Update)

Savvas Vergas, the Paphos mayor, is scheduled to appear before the Paphos District Court today in connection with threatening SMS messages sent to a number of people involved in the Aristo case.

No foreclosure law no money

Eurogroup President Jeroen Dijsselbloem told a news conference that putting legislation in place to deal with the high level of non-performing loans (NPLs) is essential for Cyprus to return to financial health.

Encouraging property sales

The number of property sales in Cyprus increased for the seventh consecutive month in September compared to last year with sales up in both the domestic and the overseas markets.

Aristodemou: trial date set (update)

The boss of Aristo Developers, Theodoros Aristodemou, and three of the other four suspects in the alleged Skali land scam were released under terms on Tuesday until their trial on 30 October.

Immovable Property Tax payment and collections

Around 76,800 people have paid their Immovable Property Tax this year according to official statistics, but the majority of those who have paid their tax appear to be the owners of modest properties.

Hasikos admits valuations mistakes

The Cyprus Interior Minister, Socrates Hasikos, has admitted that mistakes were made during the recent property revaluations exercise undertaken as part of the island’s bailout agreement.

Possible asset freeze in Aristo case

Police studying the bank accounts of the suspects in the Aristo Developers fraud case may recommend that the financial crimes unit MOKAS requests a court order freezing their assets.

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