Borrowers who have lost their homes, thousands of dollars and their good credit ratings can at least have a laugh thanks to real estate agent and Web site creator Lisa LaShawn. LaShawn is taking aim at what she considers predatory lenders responsible for a wave of U.S. home foreclosures with the Web sites www.IHateMortgageBrokers.com and
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United Nations Secretary-General Ban Ki-moon has appointed Alexander Downer, Former Minister for Foreign Affairs of Australia, as his Special Adviser on Cyprus. Described by the UN as a “highly respected diplomat”, Downer is expected to play an impartial role in helping to resolve the decades-old Cyprus problem. After four years of stalemate exploratory talks between
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Construction output accelerated in the first quarter of 2008, according to provisional figures from the Statistical Service. The production index in construction rose by 7.5% over the 1st quarter 2007, compared with an increase of 5.8% in the fourth quarter. An increase of 8.1% was recorded for buildings and an increase of 3.3% for civil
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After two months of decline, tourism arrivals in Cyprus finally recorded a decent increase in June, with the number rising by 8.8% to 307,237 in June 2008, compared with 282,465 in June 2007. Prior to that, tourism arrivals had fallen in three months out of the first five months in 2008. The main reason was
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COMMENT By Patrick Skinner “Be-suited captains and black–vested waiters confer and preen and carry on behind a stone counter, while diners occupy, on the other side, a narrow lane of tables. The uneven allotment of space gives the feeling of a trespass, as do the chairs, which are wooden, uncomfortable, and heavy on finials and
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House prices in Cyprus held up in the second quarter compared to other European markets and despite worsening global and local economic conditions, according to the latest quarterly BuySell Home Price index. In the period April to June 2008, the BuySell Home Price Index recorded a marginal decrease of 0.4% compared to the first quarter,
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Oil rose above $136 a barrel on Thursday, as investors resumed buying after its recent sharp drop and boosted by fresh cuts to Nigerian oil output. U.S. crude rose $1.70 to $136.30 a barrel at 1450 GMT, recovering from lows of $133.02. It slid $4.14 on Wednesday, taking the drop from last Friday's all-time peak
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By Jeremy Gaunt Fund managers are gloomier about equities than at any time in at least the last 10 years and aversion to risk is close to what it was during the Bear Stearns crisis in March, a Merrill Lynch poll showed on Wednesday. In its July poll of 191 global fund managers, the investment
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The Board of Directors of Toxotis Investments Public Ltd examined the Public Offer Document by CLR Investment Fund Public Ltd for the acquisition of up to 100% of the issued share capital of the Company at EUR0.11 cash and deems it fair and reasonable, giving its backing to the offer. The Board of Directors appointed
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CYTA the state-owned telecom of Cyprus plans to spend EUR 50 mln in new investments as part of its expansion drive into Greece, CYTA Chairman Stavros Kremmos said during the presentation of the 2007 Annual Report. “We are already active in Greece with our own network of 700km in 13 municipalities in the northern regions
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