Property prices continued to fall in the last quarter of 2014, at a somewhat slower pace than in the third quarter, according to data provided in the RICS Cyprus Property Price Index. The 21st quarterly price and rental index, developed in cooperation with the University of Reading, found that average market prices fell by 5.4%

The Central Bank of Cyprus is holding meetings on Thursday with the heads of the commercial banks to encourage them to lower lending rates, Governor Chrystalla Georghadji told the Employers and Industrialists Federation (OEV). Rates in Cyprus are among the highest in the Eurozone, on average 2 percentage points above the rest, thus making the

With responsible corporate behavior being an integral part of its philosophy and culture and through consistent and tireless efforts in energy management issues, Hellenic Bank succeeded in obtaining certification to the International Standard of ISO 50001. The certification to the International Standard of ISO 50001 ensures a commitment to the effective and efficient use of

Cyprus Central Government debt rose to €18,626 mln in the fourth quarter of 2014, up €360 mln from €18,266 mln in the previous quarter, according to figures released by the Finance Ministry’s Public Debt Management Office (PDMO). About 31% of the debt is held in the domestic market and 69% in the foreign market. The

Small and medium size enterprises (SMEs) in Cyprus will be able to tap into a pool of €952 mln, primarily from EU structural funds over the next six years in order to boost competitiveness and drive growth. However, so far only one credit institution has shown interest to take part in a business fund using

The Cyprus capital markets regulator said that regulatory reforms and new legislation to attract new investors to the island is proceeding very well, but other institutions are holding up the process. Demetra Kalogirou, Chairman of the Cyprus Securities and Exchange Commission (CySEC) said that the framework for funds and managers are well underway and several

Summer bookings from the U.K., traditionally the biggest market for tourism to Cyprus, are expected to be about 10-15% higher, according to travel agents, with airline capacity also increased by 33,000 seats from last year. The Cyprus Tourism Organisation said after its participation at the ‘Destinations Holiday and Travel Show’ held in London and Manchester,

 * Investors keen in Cyprus malls, Venus Rock project * Major foreign investors are keen to pump millions into the Cyprus economy, both to join private sector projects, as well as take part in the island’s privatisation programme. News reports suggest that the investors and fund managers from the likes of Goldman Sachs, Bank of

Former Cyprus Interior Minister Dinos Michaelides and his son have been handed down 15 year prison sentences each by a court in Greece on Wednesday, having earlier found them guilty of bribes and money laundering, over an arms deal involving former Greek Defense Minister Akis Tsohatzopoulos, who is already serving time. The court also sentenced