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Monthly Archives: January, 2015

Cyprus programme review delayed

The European Commission has said that it cannot continue with the next review of the Cyprus adjustment programme following a decision by parliament to delay the Foreclosures Law.

ECJ ruling protects consumers with Swiss franc loans

Consumers who received a loan in a foreign currency from a bank are protected from exchange rate fluctuations by a ruling of the European Court of Justice according to lawyer Pavlos Angelides.

Ayia Napa marina gets green light

Although contracts were signed two years ago, the Town Planning Department has just been given the go-ahead to issue a licence for the construction of the long-awaited Ayia Napa marina.

Swiss Franc loans may cost more

The scrapping of the minimum exchange rate by the Swiss National Bank may increase the financial burden on those who have bought property with loans denominated in Swiss Francs.

Cabinet gives the nod to fourth insolvency bill

Yesterday the Cyprus Council Ministers (Cabinet) approved the fourth of five bills comprising the insolvency framework designed to update and amend the personal and corporate bankruptcy laws.

Real estate prices expected to fall

Pundits in the real estate sector expect that property prices will continue to fall in 2015 but believe that interest from overseas buyers will continue due to incentives introduced by the government.

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