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Building permits & certificate issuance progress

The Cyprus Interior Ministry has recently published the statistics relating to the issuance of planning permits, building and division permits and certificates as required under section 5.3 of the MoU.

Bank of Cyprus furious over leaked debtors list

The publication of an internal report by the Corporate Banking Division of the Bank of Cyprus dated 14th June 2013 listing details of the bank’s largest debtors has infuriated the bank.

Cyprus programme remains on track

Following their fourth review of the Cyprus economic adjustment programme the troika, comprising the European Commission, ECB and IMF, released an official statement on Saturday.

Troika seeks to contain strategic defaults

In an effort to counter strategic defaulters the Troika is considering bringing forward the timeframe for the framework being developed concerning foreclosures and insolvency reports the Cyprus News Agency.

Developers demand lifting of bank restrictions

The Land and Building Developers’ Association has demanded that banking restrictions are lifted and has directed its members to perform on their loans according to a report from the CNA.

Troika hears construction sector concerns

The troika has returned to Cyprus for its fourth review of the island’s economic adjustment programme and has spoken with the Federation of Building Contractors about the critical issues affecting the construction sector.

Armou family defy house ban order

A British family are the only permanent inhabitants living at the stricken development at Armou in defiance of an order banning them after their homes were declared unfit for habitation in November 2012.

Cyprus relaxes most domestic capital controls

The Finance Ministry said in a statement Friday that a prohibition on cashing checks as well as caps on domestic transactions and payments that don’t require central bank vetting have been removed.

Stress test scenarios do not bode well

Residential property prices will fall by 4.0 percent in 2014, while real estate prices in general are predicted to go down by 11.9 percent under the EBA’s pan-European stress test scenarios.

Primary residence protection up to €350,000

The Cabinet has approved primary residence protection legislation designed safeguard the homes of low-income families and small and medium sized enterprises facing economic hardship.

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