The sharp increase in fuel prices has forced the Finance Ministry to fine tune its economic forecasts for 2005 and 2006, with the Ministry technocrats forecasting that if oil prices stay around $65 per barrel, then there will be a negative impact on the rate of growth and higher inflation. Based on oil prices remaining

Property sales have declined by 29% year-on-year during the first half of the year to CYP 442 mln compared to CYP 626 mln a year ago in the same period, according to the Land Registry figures. The CYP 184 mln decline in business in the year is due mostly to the introduction of VAT, higher

The Supreme Court has issued a Certiorari order and revoked any previous rulings/injunctions issued by the Nicosia District Court, blocking the sale by Bank of Cyprus of its stake in Universal Life Insurance Co. Bank of Cyprus had previously announced that following the joint agreement with the Cyprus Popular Bank Pcl dated 30 May 2005

Limassol, 26 September 2005 (European Commission)–It is a great pleasure and honour to have the opportunity of attending the Maritime Cyprus 2005 conference. My very sincere thanks go to the Cyprus government and the Minister of Communications and Works, Mr Harris Thrassou and the organisers, as well as all the dynamic business and shipping community