Property sales continued to grow for the eleventh consecutive month in 2016, both from the domestic and especially for overseas buyers, particularly from Russia, Ukraine, China and the Middle East. Paphos continues to lead in purchase contracts by foreign buyers recorded at the Department of Land and Registry by 39%, in comparison to Limassol
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Pafilia Property Developers has launched a new residential project in Limassol: Park Residences. This is a collaboration with award-winning architects Armeftis & Associates to deliver another unique luxury property development. Consisting of 2- and 3-bedroom apartments and an impressive 3-bedroom penthouse on the 5th floor, Park Residences offers open-plan living areas that extend onto
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* 80% of Regus survey respondents prefer working in partially enclosed workstations * Latest research by Regus, the flexible workspace provider has revealed that workers globally regard partially enclosed workstations as the ideal spot for concentration (80%). It follows that three quarters (74%) confirm this is also the most productive setting for work. In
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* First ‘Juncker plan’ transaction for Cypriot businesses * The European Investment Fund (EIF) and RCB Bank have signed the first EFSI agreement in Cyprus which will provide EUR 10 mln to innovative small and medium-sized enterprises (SMEs). The agreement benefits from the support of the European Fund for Strategic Investments (EFSI), an initiative
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The value of net wealth of Cypriot households dropped by 40% in 2014, the year following the collapse of the banking sector and a harsh bailout, recording the largest decrease in the median value of wealth throughout Europe, according to the Household Finance and Consumption Survey (HFCS) of the European Central Bank. The Central
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The employment rate increased slightly in the third quarter of the year, while unemployment stood at 13%, recording an increase compared to the second quarter of the year and an increase compared to the third quarter of 2015. According to the results of the Labour Force Survey (LFS) of the statistical service Cystat, the
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A UK Post Office survey has proclaimed Paphos as the best short-haul winter destination, combining a much sought sun break with the most affordable packages, the Cyprus News Agency reported. For UK residents looking to get away this New Year’s holiday, the Cypriot joint 2017 European Capital of Culture offers the best value for
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. The rise of four cents a litre within a week and the government’s inability to chastise the petrol companies for the inexcusable increase, has left the opposition parties raving and ranting that the Trade Minister should impose a cap on pump prices. Although it is the consumer who is paying for the hike,
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The commercialisation of Limassol port will only be complete once the new operators reach mutually acceptable agreements with local stakeholders that safeguard their rights and responsibilities as Cyprus shipping enters a new era. This was the main message from the annual general meeting of the Cyprus Shipping Association (CSA), which took place in Limassol.
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Bert Pijls has stepped down as CEO of Hellenic Bank and has already been replaced by board member and international banker Ioannis Matsis. The bank said in a statement that Matsis’ appointment is subject to approval from the regulatory authorities, until which time the duties of the Chief Executive Officer will be handled by Group
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