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29th March 2024
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Limassol Aura high rise development

The construction of the 197 metre Aura high rise development in Limassol to be built on the present site of the Debenhams Olympia shopping centre on Limassol's coastal road should be completed by the end of 2022.

Cyprus’ vulnerabilities remain significant

The European Commission notes that despite the recent improvement, Cyprus' vulnerabilities, which are mostly due to long-lasting stock-imbalances, continue to be significant.

Compensation for Pissouri homeowners

The Government has finally agreed to pay compensation to residents in Pissouri whose homes have been damaged by the landslide and to undertake a study to see if the area can be stabilised.

Cyprus banks awash with properties

Banks in Cyprus have acquired more than 14,000 properties from households and businesses through foreclosures and debt-to-assets swaps according to a report in the Phileleftheros.

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.

Clouds gathering over the Cyprus economy

Risks, driven by world economy deceleration, Brexit as well as Cyprus' domestic challenges are clouding the medium-term outlook of the Cypriot economy, an economic conference has heard.

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

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.

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