The number of building permits in Cyprus rose by 7.7% in the whole of 2006 to reach 9,794, compared with 9,098 in 2005. The value of permits rose in the same period by 8.1% to CYP 1,448 mln (CYP 1.4 bln), compared with CYP 1,340 mln in 2005. However, the area of such permits rose
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 On the basis of the results of the Passenger Survey, 79,452 residents of Cyprus returned from a trip abroad in March 2007 compared to 63,280 in the corresponding month last year recording an increase of 25.6%. A large proportion of trips in March will have been students. In March 2007 there was an increase
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After monthly falls towards the end of 2006, residential house prices in Cyprus resumed their climb in January, according to the BuySell Home Price Index. The hedonic BuySell Home Price Index, which takes into account factors such as quality, reached 119.74 in January, a rise of 2.6% on the previous month. This was the first
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Eyes leisure diversification  Louis plc, the diversified international leisure group, is considering to release a significant part of the real estate value of Louis Hotels either through a “sale and lease–back/ manage-back†plan for most of its properties within this year or through a three-year program of selected sales of hotels which have a
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Louis plc announced last October that its subsidiary, Louis Hotels Public Company Ltd., signed a management operation agreement with the Egyptian Tower Group for the 5-star Louis Tiran Sharm hotel presently under construction in the Sharm El Sheikh resort. Louis will earn royalties on total revenue as well as profits generated by the hotel which
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The Holy Synod of the Autocephalous Church of Cyprus decided today to increase the number of the Bishoprics and Suffragan Bishoprics to 12. The members of the Holy Synod decided today during a long meeting they held at the Archbishopric in Nicosia, to establish six more church districts namely Constantia, Tamassos, Myrianthousi, Trimithous Carpasia and
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The assessment of Cyprus’ application to join the eurozone will be carried out on the basis of the economic criteria provided by the Maastricht Treaty, EU Commissioner for Economic and Monetary Affairs Joaquin Almunia’s spokeswoman, Amelia Torres, has said.Torres noted that the accession of a member state to the Economic and Monetary Union (EMU) is
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The Lebanon crisis in the summer of 2006, the mobilization of the Cypriot government and the experience gained are the topics of discussion at a seminar organised by the Ministry of Foreign Affairs, which will take place 15 February 2007. Acting Permanent Secretary of the Foreign Ministry Ambassador Alexandros Zenon will address the meeting. Participants
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By José Manuel BarrosoPresident of the European Commission This year, we celebrate what the European Union has achieved over the last 50 years. A history which has seen the European Parliament come more and more to embody European democracy. I salute the presence here today of the former Presidents of the European Parliament. On behalf
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CYP peg likely at 0.585274, devaluation fears unjustified The Republic of Cyprus applied Tuesday formally to join the eurozone on January 1, 2008, Finance Minister Michalis Sarris announced, after a fromal letter to that effect was sent to the European Central Bank President Jean-Claude Trichet and European Monetary Affairs Commissioner Joaquin Almunia.Cyprus joined the European
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