Cyprus property prices are forecast to register at least a 20% increase, well above expectations, as easy money provided by affordable loans from the banks, the rush to beat the 15% VAT imposition on land and strong demand from foreigners investing in mainly coastal areas have combined to make 2007 yet another boom year for
More
Apartment blocks dominate  The number of building permits may be falling but the value of permits is going strongly in the opposite direction as residential apartment blocks spring up all over town. In the first quarter of 2007, the value of building permits rose by 18.7% to CYP 423.3 mln compared with the same
More
Smart Technologies Inc. announced the availability of the Smart Board software 9.7 for Windows, Mac OS and Linux operating systems in the Middle East which offers teachers more digital resources and a number of user-friendly new features. Enhancements to the world’s most widely used interactive whiteboard software make it easier for educators to create and
More
Epson has announced the Middle East launch of its Stylus CX4300, the A4 all-in-one for the home and home office with fast print speeds up to 25ppm. With superior print, scan and copy capabilities, the CX4300 features DURABrite Ultra Ink which provides laser-like text and glossy photos, and is resistant to water, smudging and fading,
More
Expanding its lineup of consumer-friendly, easy-to-use external hard drives, Western Digital Corp. announced that its My Book family of storage appliances is now available with capacities of 1.5 TB and 750 GB. From remote access and sharing anywhere in the world to simple add-on storage and back up, the My Book family meets a variety
More
OMV Aktiengesellschaft, the leading Central European oil and gas group, has purchased several blocks of 8.6% of Hungarian oil and gas group MOL shares, which, as understood have also been offered to other potential investors. The average price per share was close to the traded market price, implying a total of some EUR 1 bn.
More
Cypriot President Tassos Papadopoulos described as “a significant milestone†on Saturday the unanimous approval of the European Council of the proposals of the European Commission and the European Central Bank for the accession of Cyprus and Malta to the Eurozone on 1 January 2008. Speaking at Larnaca Airport on his return from Brussels where he
More
Cypriot House President and General Secretary of left-wing AKEL party, Demetris Christofias, said that what is necessary at the current phase of the Cyprus problem is to create the conditions for the resumption of full-fledged negotiations for a comprehensive settlement to the Cyprus problem, stressing that this could be achieved through the implementation of the
More
Two new bishops were enthroned over the weekend, completing the enlargement of the Holy Synod of the Autocephalous Church of Cyprus. The two new bishops are Leontios, Bishop of Hitron and Epiphanios, Bishop of Ledras. Leontios was enthroned on Sunday at St. Neofytos Church in Paphos, while Epiphanios at Macheras Monasteri yesterday. Addressing Bishop Leontios,
More
The USD set historical lows against the EUR but then reversed course as US yields shot up. While milder risks in the US bode well for global growth, the USD is still under pressure and has the potential to cause global waves. This could be negative for carry trades but is unlikely to truly reverse
More