Limassol Marina, the 300 mln euro development, including the first superyacht marina in Cyprus, announced that nearly 80% of its Island Villas have been sold, with 15 available for sale. Each Island Villa, with a price tag starting from EUR 2.9 mln, includes its own exclusive water-space or designated private berth attached to the individual
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. Five years to the day, when the illustrious members of parliament rejected the first offer for a universal haircut of deposits that would have saved all systemic banks in Cyprus, opting instead for “a second chance” that turned out to be disastrous, politicians are now trying to appear as the saviours of the public
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. By Yiannis Tirkides Manager Economic Research, Bank of Cyprus Cyprus banks over the past five years have been implementing a rigorous restructuring programme, refocusing their operations, seeking to improve asset quality and normalise their balance sheets. What we may confidently say today is that whilst there is still some distance to go, a
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. By Antonis Loizou F.R.I.C.S. – Antonis Loizou & Associates Ltd – Real Estate Valuers & Estate Agents Although real estate development is a major contribution to foreign earnings in Cyprus, we are well behind in the methods and procedures adopted for sale of real estate from other more advanced economies. · For
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* Despite EU pressure, ‘investment-for-citizenship’ raised €650 mln By Kyriacos Kiliaris The retail bonds programme, launched in 2014 as a quick-fix to urgently raise funds for the cash-strapped government soon after the economic meltdown a year earlier, is expected to continue after 2020 when the first cycle matures and the government repays the
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The government is determined to continue efforts towards resolving the long-standing Cyprus problem, as any positive outcome will have a great impact on the shipping sector, itself contributing to 7% of the island’s GDP. President Nicos Anastasiades, addressing the annual dinner hosted by the Cyprus Shipping Chamber pledged that the government will continue working tirelessly towards
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. No matter how hard we try, the old stains from the days of money laundering and the new stains from the ill-reputed cash-for-citizenship programme will be hard to get rid of, as evidenced by the comments this week by the Commission’s Finance czar, Pierre Moscovici, who included Cyprus among the seven targeted tax havens.
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. By Constantinos Petrides Minister of Interior * The House of Representatives has kicked off the discussion over a legislation which is is to see the creation of an Under Secretariat for Development. This junior ministry is to take on the task of promoting and attracting investments to the island, also addressing challenges and
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. By Antonis F.R.I.C.S. – Antonis Loizou & Associates Ltd – Real Estate Valuers & Estate Agents Over the last year, the first skyscrapers appeared in numbers on the Cyprus horizon and I must say that in total they are quite impressive. The fast rate of sale, which in most cases is in cash
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. Last week’s polar cold front that struck northern Europe left Britain, in particular, wondering where it went wrong with its national energy security policy, as its energy grid announced that for the first time in almost a year the country may not have enough gas to meet demand. From a net exporter some 13
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