Land Registry values down while prices rise

Land Registry values down while prices rise

The Cyprus Land Registry has come under attack over its valuation of properties on the island and while its 2018 valuations are lower than those in 2013, property prices continue to rise. RECENTLY, the Cyprus Land Registry has come under attack over its valuation of state-owned land in Nicosia. One piece of prime real estate in central Nicosia, which was valued at €70 mil...
Local Friday, 04 October, 2019
Nature Is Not a Dumpster

Nature Is Not a Dumpster

Dealing with the problem of uncontrollable rubbish dumping is both a matter of culture and legislation, Cypriot Environment Commissioner Ioanna Panayiotou has told the Cyprus News Agency (CNA).   A cleaning campaign at the bed of the Kouris dam in Limassol district, took place, on Sunday. The event was placed under the Environment Commissioner`s aegis.Where citizens and ...
Local Thursday, 03 October, 2019
Hellenic Bank Records Profit After Tax of €59,1 Million

Hellenic Bank Records Profit After Tax of €59,1 Million

Hellenic Bank announces today its annual financial results for the six-month period ended 30 June 2019. The Bank has the largest branch network in the island with market shares of 38,9% and 30,1% in household deposits and loans, respectively. Also, the Bank has successfully achieved an integration of around 400.000 customers on Hellenic Bank systems. It ha...
Local Wednesday, 02 October, 2019
Deposits in Cyprus banks at their highest level for 11 months

Deposits in Cyprus banks at their highest level for 11 months

Total deposits in Cyprus banks reached their highest level in the past 11 months, while loans remained at historically low levels, despite a net increase in August. According to Central Bank of Cyprus (CBC) figures, household loans declined by almost €6 bln in August while loans to non-financial corporations were down by almost €5 bln. Total deposits recorded a net ...
Local Monday, 30 September, 2019
School students join global climate action

School students join global climate action

Hundreds of Cyprus school children joined a world day of action against climate change as they marched through the streets of Nicosia on Friday. The protest is part of a global strike taking place to demand that world leaders take action against climate change and adopt urgent measures to stop an environmental meltdown. The global strike is spearheaded by ...
Local Saturday, 21 September, 2019
 Cyprus enjoys summer high for tourist arrivals

Cyprus enjoys summer high for tourist arrivals

An influx of British, Russian and Israeli tourists ensured Cyprus achieved its best ever figures for arrivals in August with a record 553,600 visitors, official data indicated on Tuesday. The Mediterranean island has beaten all previous August records this year with tourist arrivals reaching 553,626 from 534,847 in 2018, a 3.6 per cent annual increase, the state statistical se...
Local Wednesday, 18 September, 2019
Cyprus businesses bracing for a no-deal Brexit

Cyprus businesses bracing for a no-deal Brexit

Cyprus businesses are preparing for a hard Brexit in light of developments in the UK, with London adamant on leading Britain through the European Union exit door by 31 October with or without a deal. Particularly concerned about the effects on tourism, business associations, experts and hotels are preparing to face any scenarios that may play out after October. Sounding the a...
Local Monday, 16 September, 2019
 Government employed personnel remains stable at 51,486

Government employed personnel remains stable at 51,486

The number of government employees remained relatively unchanged at 51,486 in August 2019, compared with 51,475 in the same month last year, despite an increase in temporary staff. Official figures showed that permanent staff decreased by 444 or 1.5%, from 28,682 to 28,238 persons, while temporary staff increased by 5% reaching 14,800 persons compared with 14,091 persons in Au...
Local Thursday, 12 September, 2019
Government will only support distressed borrowers through ESTIA

Government will only support distressed borrowers through ESTIA

Cyprus has warned it will not support borrowers who can pay off their loans by including them in the state-funded ESTIA scheme set up to bailout homeowners with toxic mortgages. Finance Minister Harris Georgiades told the House Finance Committee that the European Commission has not given the go ahead to give handouts to borrowers who are consistent in their repayments. "We mu...
Local Tuesday, 10 September, 2019

Government will only support distressed borrowers through ESTIA

Cyprus has warned it will not support borrowers who can pay off their loans by including them in the state-funded ESTIA scheme set up to bailout homeowners with toxic mortgages. Finance Minister Harris Georgiades told the House Finance Committee that the European Commission has not given the go ahead to give handouts to borrowers who are consistent in their repayments. "We mu...
Local Tuesday, 10 September, 2019
Deflationary pressure as prices continue to dip in August

Deflationary pressure as prices continue to dip in August

Cyprus annual inflation rate remained in negative territory for a third consecutive month in August at -0.7% as food and energy prices dipped. In August, the Consumer Price Index increased by 0.30 units and reached 100.32 from 100.02 units in July 2019. Compared to August 2018, the CPI decreased by 0.7%. The decline was mainly driven by price reductions in the food and non-al...
Local Monday, 09 September, 2019
Registered unemployed decrease by 16.7% in August

Registered unemployed decrease by 16.7% in August

The number of registered unemployed in Cyprus during August decreased 16.7% on an annual basis to under 20,000, official figures showed on Wednesday. Unemployed persons registered at the District Labour Offices on the last day of August reached 19,883, it was 23,866 a year ago. Based on seasonally adjusted data that show the trend of unemployment, the number of registered une...
Local Thursday, 05 September, 2019
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