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Archive for May, 2015

MPs focus on foreclosure regulations

Cypriot MPs are continuing their discussions on the rules regulating the auctioning of properties that will enable the new repossession laws, which were passed in April, to come into force.

Positive review from the troika

A joint statement released by the troika of Cyprus’ international lenders (EC, ECB and IMF) at the conclusion of their latest mission to Cyprus welcomed the continued progress being made.

Troika to conclude review today

The troika of Cyprus’ international lenders comprising the EC, the ECB and the IMF should conclude their sixth review of the island’s Economic Adjustment Programme today; a revised MoU is anticipated.

Aristo boss denies fraud

Theodoros Aristodimou, the founder and managing director of Aristo Developers and former Chairman of the Bank of Cyprus, denied defrauding the state during his testimony at the Paphos Criminal Court.

Property sales continue upward trend

Property sales in Cyprus during April recorded an increase of 23 per cent over the number sold in April 2014 according to the latest official statistics from the Department of Lands & Surveys.

Strong growth in home construction

Strong growth was recorded in the number new homes being built in Cyprus in February, with the number of building permits authorised for new homes increasing compared to February 2014.

Banking system corruption

Investigators looking into corruption in the Cyprus banking system that resulted in the collapse of the island’s economy have uncovered unprecedented bad lending practices by the banks.

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