Smart Drive: Anytime Cyprus’ innovative insurance scheme

Smart Drive: Anytime Cyprus’ innovative insurance scheme

Interamerican’s Anytime has recently introduced a new innovative insurance scheme to the Cypriot market called Smart Drive, created as part of the company’s vision of a safer future with fewer road accidents. Smart Drive has been designed to reward careful drivers. This happens from the innovative app Smart Drive Cyprus, which can be downloaded by anyone from the A...
Local Monday, 19 October, 2020
No deal Brexit strips expats of UK bank accounts

No deal Brexit strips expats of UK bank accounts

Thousands of Britons living in the EU will have their UK bank accounts closed by the end of the year because of the UK’s failure to agree a post-Brexit trade deal. Statement from the British High Commission, Nicosia: “Some of our UK nationals in Cyprus may have seen recent media coverage about some UK banks’ decision to close accounts belonging to EU/EEA res...
International Thursday, 15 October, 2020
Chevron Completes Acquisition Of Noble Energy

Chevron Completes Acquisition Of Noble Energy

Chevron Corporation announced yesterday that its acquisition of Noble Energy Inc. has been completed following approval by Noble Energy shareholders. “We are pleased to welcome Noble Energy’s employees and shareholders to Chevron. Noble’s high-quality assets complement Chevron’s advantaged upstream portfolio, and the combination is expected to deli...
Business Monday, 12 October, 2020
House prices in Euro area up 5 per cent

House prices in Euro area up 5 per cent

House prices, as measured by the House Price Index, rose by 5.0% in the euro area and by 5.2% in the EU compared with the same quarter of the previous year. In the first quarter 2020 house prices rose by 5.1% and 5.6% respectively. These figures come from Eurostat, the statistical office of the European Union. Compared with the first quarter of 2020, house prices rose by 1.7%...
International Friday, 09 October, 2020
Signs Of Recovery In Constructions In June, Despite A Drop In The First Half Of 2020

Signs Of Recovery In Constructions In June, Despite A Drop In The First Half Of 2020

A significant decrease in building permits was recorded in the first half of 2020, due to the restrictive measures against the spread of the coronavirus in Cyprus. However, data for June, published by the Statistical Service of Cyprus, show signs of recovery. The number of building permits authorised by the municipal authorities and the district administration offices stood in...
Real Estate Wednesday, 07 October, 2020
Wealthy Britons turn to Cypriot citizenship

Wealthy Britons turn to Cypriot citizenship

The number of British entrepreneurs looking to “buy” citizenship from countries offering visa-free access to the European Union has risen sharply, investment migration firms say, as prospects of a post-Brexit trade deal between Britain and the bloc darken. Investment immigration firm Astons said it had seen a 50% and 30% year-on-year increase in interest from clien...
International Monday, 05 October, 2020
Construction of the Sewage System in Pyrgos and Parekklisia

Construction of the Sewage System in Pyrgos and Parekklisia

Construction of the Sewage System in the Communities of Pyrgos (Contract E17A) and Parekklisia (Contract E17B) Α ceremony took place on Friday 28/8/2020 at the Multipurpose Center of the Community of Pyrgos, for the signing of the Contracts for the construction of the Sewerage System in the Communities of Pyrgos and Parekklisia. The Contract concerning the Community of ...
Local Thursday, 01 October, 2020
Squeeze on banks to offload property portfolios

Squeeze on banks to offload property portfolios

Cyprus estate agents fear that house prices could be pushed downwards from pressure on banks by the European Central Bank to sell-off property they have acquired through debt to asset swaps or foreclosures. Taking on properties in exchange for debt has helped the Cyprus banking system reduce toxic loans from €28 billion in 2014 to under €8 billion in March 2020, just...
Real Estate Monday, 28 September, 2020
EU Trade Surplus At €99.7 Billion For The First Seven Months Of 2020

EU Trade Surplus At €99.7 Billion For The First Seven Months Of 2020

In January to July 2020, euro area exports of goods to the rest of the world fell to €1 199.6 bn (a decrease of 12.4% compared with January-July 2019), and imports fell to €1 086.6 bn (a decrease of 13.1% compared with January-July 2019). As a result the euro area recorded a surplus of €113.0 bn, compared with +€119.3 bn in January-July 2019. Intra-euro area...
International Thursday, 17 September, 2020
Cyprus: How important is a Title Deed?

Cyprus: How important is a Title Deed?

The acquisition of a Title Deed is usually simple and straightforward, however, at times it can also involve a very complex and specialised process which understandably is not always very clear to the average person. Nevertheless, a Title Deed is a very important legal document which is used as evidence to prove ownership of immovable property, such as a home or a plot of land...
Local Friday, 28 August, 2020
Economic Sentiment Improves In August, Whereas Consumer Confidence Weakens

Economic Sentiment Improves In August, Whereas Consumer Confidence Weakens

Εconomic sentiment in Cyprus improved in August 2020, as the Economic Sentiment Indicator (ESI-CypERC) increased by 1.9 points compared with July 2020. However, consumer confidence weakened considerably. According to a press release of the Economics research centre of the University of Cyprus, the increase in the ESI-CypERC was driven by confidence improvements among f...
Local Thursday, 27 August, 2020
Two Photovoltaic Parks Completed In Ayios Ioannis

Two Photovoltaic Parks Completed In Ayios Ioannis

Suntechnics ltd has announced that its cooperation with IRIS LENOR ENERGY LTD was completely successful. The company, a member of Green Energy Group has completed and delivered the project 35 and 43, with a capacity of 1.5 MWp each. Suntechnics ltd as a leader of photovoltaic systems, has taken over the Engineering, Procurement, Construction, Operation and Maintenance of two p...
Local Wednesday, 26 August, 2020
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