Applications for expression of interest (EoI) for the 600-berth Ayia Napa marina project closes on August 31. With potential investors already lined up, the project is regarded as one of the most mature ventures in recent years, allowing the design and construction to begin very soon. The developer of the project, M.M. Makronisos Marina Ltd.,
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Trade unions at state-owned telecoms provider Cyta met on Tuesday to review the government’s proposal over the status and the rights of the employees after the privatisation of the semi-government organisation. The unions said that they would respond to the Finance Minister by the end of the week. They also said that they want the
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After recovering somewhat in the first half of the year, the Ifo Index for the world economy fell, according to the World Economic Survey (WES) of the third quarter 2015. The indicator’s present level of 95.9 points is now slightly below its long-term average of 96.1 points, the Munich-based research institute said. While assessments of
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By Jameel Ahmad, Chief Market Analyst, FXTM Markets continue to face downside pressure and are exposed to further declines after the People’s Bank of China (PBoC) shocked the financial markets for the second morning running by devaluing the Yuan once again. The USDCNY has now sky-rocketed from 6.22 to a high of 6.59 in just
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* PDMO sells €30m in August series, €212m raised so far * The Ministry of Finance said that the eighth series of its retail bonds were three times oversubscribed, with the August series raising EUR 30 mln. However, interest may be subdued for the upcoming issues as a lower interest rate kicks in. Last month,
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Emirates passengers, including those residents in Cyprus who want to visit family, relatives and friends in the United States, can look to explore beyond the airline's network of American destinations. Now with the Americas Pass, they have dozens of options. With one combined ticket, travellers flying to any of Emirates’ 10 US destinations can connect
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Foreign buyers, including large numbers from China and Russia, are targeting Berlin, according to a Die Welt report. “Many high net worth individuals from China are looking for apartments in Berlin,” the newspaper quoted Thomas Zabel from the Zabel Property Group, specialists for luxury property in central Berlin. About 8% of Zabel’s clients are Chinese
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* But 2015 could be the best year yet for buy-to-let deal issuance * The restriction of mortgage interest relief for UK buy-to-let (BTL) landlords will, in the short term, curb lending in the sector, which currently makes up 15%-16% of mortgage lending, Moody's Investors Service said in a special report. At the same time,
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. By Antonis Loizou F.R.I.C.S. – Antonis Loizou & Associates Ltd – Real Estate Appraisers & Projects Development Managers It is estimated that from the 60,000 holiday and second homes sold to foreigners, a large percentage of about 20% or 12,000 of them, are rented out to their fellow countrymen and other holidaymakers. These so-called
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Property prices were down 0.4% for apartments and 0.3% for homes in the second quarter, according to the latest index produced by RICS Cyprus. The areas that saw the biggest quarterly drops were Nicosia and Larnaca. The 23rd edition of the RICS Cyprus quarterly Property Price Index said that the biggest drop was in Larnaca
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