Major commercial and development projects that have recently been completed or are underway add to the confidence that is gradually returning to the banking sector, with the property sector also expected to recover in 2015, albeit slowly. Apart from the Limni golf resort being developed by the Shacolas Group near Polis Chrysochous and the 650-berth
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Loans and deposits held by 83 investment funds in Cyprus dropped to €247.3 mln in December, down €339 mln year-on-year and less then half of €511.8 mln in March 2013 when the Eurogroup imposed a bailout programme and forced the bail-in of depositors at the two systemic banks. The drop was the lowest level since
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. By George Mouskides General Manager, FOX Smart Estate Agency Licensed Estate Agent, US Certified Public Accountant Legislation regulating the energy efficiency of buildings was voted in 2006 and amended on several occasions after that, coming into force a full four years later on 1/1/2010. So, what does the legislation provide for? All buildings (flats/house/shops)
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The Elysium in Paphos and the Mediterranean Hotel in Limassol, star properties of Stademos Hotels PLC, have once again received international recognition, this time in the online readers’ survey of the holiday portal TripAdvisor. Both hotels have won the Trip Advisor Traveller’s Choice Award 2014 and the TripAdvisor Certificate of Excellence 2014, following favourable comments
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A second major investment by investors and businessmen from Asia has added to the success of Leptos Estates in Paphos within only a few months, a company announcement said. Reflecting on the confidence that the Leptos Group inspires among large foreign investors and funds, the new investment was made on another seaside plot owned by
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Veteran Paphos property company Aristo Developers continues to enhance its property portfolio with the launch of a new development off the west coast of Paphos, probably the most popular destination for investors and long-term holidaymakers. Located in the heart of the tourist area, and within walking distance to the sea, “Plage Residences” offers potential buyers
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The Association of International Banks (AIB) is urging Cyprus politicians to pass a controversial bill that aims to regulate foreclosures and help local banks recover assets and lower risky loans, saying that the island’s economy is “following a path of gradual recovery from the crisis.” Part of Cyprus’ obligations towards the Troika of international lenders
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Oil markets continued to pull back by about $2 to $3 a barrel on Thursday, driven down by rising US crude inventories to record levels and continued high levels of production output by most petroleum producing countries. Volatility in the oil markets remained high, with both WTI and Brent crude encountering losses and pulling back
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By Jameel Ahmad, Chief Market Analyst at FXTM It has been continuously reiterated since the end of last summer that despite heightened expectations, the Federal Reserve will be in no hurry to begin raising US interest rates and yesterday evening’s FOMC minutes highlighted exactly this. The FOMC minutes release was pretty explicit in pushing back
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Hellenic Bank has followed its Cyprus peers and announced on Thursday it will cut its base interest rate by 1 percentage point as of March 1, after the Central Bank decided to lower its ceiling on deposit rate by 1% on Monday. Hellenic Bank said in an announcement that the reduction applies to all performing
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