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28th March 2024
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Yearly Archives: 2016

Recidivism: the curse on Cyprus

Unless the Cyprus government cracks down hard on recidivism in all its forms, an international risk management consultant predicts that Cyprus is likely to hit another 2013 scale financial crisis within five years.

Cyprus interest rates fall

Interest rates in Cyprus for consumer credit fell to 4.01 per cent and loans for house purchases fell to 2.94 per cent in July according to official figures from the Statistical Service of Cyprus.

Bank of Cyprus €1.1 billion asset disposal

The Bank of Cyprus' Real Estate Management Unit (REMU) is currently managing assets valued at €1.1 billion sold properties valued at €92 million during the first half of 2016 and is presently in negotiations to sell additional assets.

Immovable Property Tax discounts

The Tax Department will start sending Immovable Property Tax demands today that will include significant discounts agreed by parliament earlier this year of 75 per cent if they settle their account by 31 October.

Cyprus wooing Thai investors

Cyprus is offering investors from Thailand European Union citizenship for BHT 100 million (approx. €2.5 million) as it expects to raise capital from Thai investors in a number of sectors.

Marginal increase in building permits

The number of building permits authorised by the municipal authorities and the district administration offices during May 2016 stood at 440 according to the Cyprus Statistical Service.

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