Cyprus company registrations decline in February

Company registrations with the Cyprus Registrar of Companies fell by a whopping 50% to 1.296 in February 2009 compared to 2.574 a year ago in the same month.
During the first two months of the year, company registrations fell 52.4% to 2.372 from 4.983 in the same period in 2008.
Reports indicate that the bulk of the decrease is due to a sharp decline in registration of companies by Russian nationals, but there are no official figures to prove this.
“This is pure speculation and you cannot put the decline on any one country,” an informed source told the Financial Mirror, who pointed out that a decline is also noted among Cypriots.