Pafilia has signed a EUR 77 mln construction contract with J&P and ACC, marking a significant milestone for the company and for Limassol. ONE, considered the tallest residential seafront tower in Europe, will become Cyprus’ landmark buildingm, which at 37 storeys will redefine the Limassol skyline. Pafilia has selected renowned architects, designers, engineers and
More
Marcuard’s Market update by GaveKal Dragonomics By Charles Gave My thesis has for a while been that we are living in an era characterised by the “little man” revolting against the global elite. I explained this idea in May using the perhaps apocryphal tale of a South Pacific island made up of home-loving tree dwellers
More
By Carlo Capuano, Nichola James and Fergus McCormick – DBRS • DBRS views the rejection of the referendum as credit negative, as it is likely to impact government stability and the pace of structural reforms. On December 4, Italian voters rejected the constitutional revision in a referendum that saw the “No” vote prevail with 59.1%,
More
Finance Minister Harris Georgiades told his counterparts during a Eurogroup meeting in Brussels on 2017 draft budgetary plans, that the country remains committed on a prudent fiscal stance. During the discussion on the Cyprus budget, Georgiades explained that deficit and debt trajectories remain within the Stability Pact rules and additional measures might be needed
More
Property sales in Cyprus recorded an increase of 46% in November compared with the same period last year, according to the latest figures published by the Department of Lands and Surveys. Property sales during the January – November period recorded a significant increase of 34% compared with the same period last year. By district,
More
The number of registered unemployed was down by 2,956 persons or 6.8% in November, compared to the same month last year, the statistical service Cystat said on Monday. It said the reduction was mainly observed in the sectors of construction (a decrease of 1,107 unemployed persons), manufacturing (a decrease of 627), transportation (a decrease
More
DBRS Ratings Limited (DBRS) has confirmed the Republic of Cyprus’s long-term foreign and local currency issuer ratings at B and changed the trend to Positive from Stable. DBRS has also confirmed the short-term foreign and local currency issuer ratings at R-4 and maintained the Stable trend. The ratings reflect Cyprus’s solid fiscal performance achieved
More
Moody’s rating agency changed the outlook on the Cyprus government bond rating to ‘positive’ from stable, earlier in November. The rating agency had affirmed Cyprus’ long term issuer and senior unsecured bond rating at B1 and also affirmed Cyprus’ Senior Unsecured MTN Programme at (P)B1, the short-term rating Commercial Paper at NP and its
More
Seasonally adjusted GDP rose by 0.7% and 2.8% in Cyprus in quarterly and annual basis, during the third quarter of 2016. Meanwhile, the Euroarea GDP rose by 0.3% and by 0.4% in the EU28 during the third quarter of 2016, compared with the previous quarter, according to an estimate published by Eurostat. In the
More
The investment-for-passports scheme has raised EUR 3.3 bln for state coffers in the past three years, according to Interior Minister Socrates Hasikos, with a further EUR 700 mln earned from residency permits provided to owners of properties worth EUR 300,000. “This last incentive alone has been of great benefit to the economy,” Hasikos stated,
More