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Warnings of further rent rises in Limassol

Further rent rises in Limassol are expected as thousands of construction workers needed to complete numerous projects will require accommodation in or near the city pushing rents up even higher.

Citizenship linked to president’s family ties

Cypriot citizenship has been granted to a Russian billionaire; a former shareholder in a Russian bank whose premises in Limassol were built by a company co-owned by the president’s son-in-law.

Bank of Cyprus sells NPLs to APS

The Bank of Cyprus has sold non-performing loans (NPLs) amounting to some €34 million to APS, part of the APS Holdings group, which is also handling the Hellenic Bank’s portfolio of bad debts.

Larnaca high-rise developments planned

Larnaca may soon be joining Limassol, Paphos and Nicosia in the high-rise towers club, providing that the application for a town planning permit is approved by the Larnaca Municipality

Citizenship schemes need greater scrutiny

During his visit Cyprus, the Prime Minister of Malta Joseph Muscat said that level of scrutiny regarding European citizenship schemes needs to be upped and that, generally speaking, Malta’s system was in order.

EU citizenship schemes need full transparency

Cyprus has been told that all EU citizenship schemes need to have full transparency and Brussels has deployed experts to ensure these schemes prevent tax evasion, money laundering and security threats

Pissouri landslide MP plans after-dark visit

Victims of the landslide in the Limnes area of Pissouri are puzzled why MP Demitris Syllouris is planning to visit the area after dark when it will be impossible to see the destruction.

EC closes infringement case on Limni project

The European Commission has effectively given the green light to the contentious Limni bay development project by closing infringements proceedings against Cyprus on Thursday.

Ayia Napa golf course plans rejected

Plans to build a golf course at Ayia Napa have been given the thumbs down by the Environmental Department as it will have significant negative and irreversible effects on the environment.

Passport-for-sale schemes pose crime risks (Update)

The EU says that passport-for-sale schemes by Malta, Cyprus, and Bulgaria pose risks of infiltration of non-EU organised crime groups in the economy, money laundering, corruption and tax evasion.

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