By George Mouskides General Manager, FOX Smart Estate Agency Licensed Estate Agent, US Certified Public Accountant During the negotiations with the Troika the Cypriot government undertook to amend the foreclosures law by June 30, 2014, so that mortgaged properties with loans not being paid (non-performing loans) go under the hammer in a period of 18

Cyprus President Nicos Anastasiades meets in Brussels, on Wednesday, with UN Secretary General Ban Ki-moon. Their meeting takes place on the sidelines of an EU – Africa Summit, an official press release says. President Anastasiades, who departed for Brussels on Wednesday morning, meets with Ban at 1930 Cyprus time (1630 GMT). He then travels from

By Stavros Zenios Posted on www.zenios.wordpress.com    I argue that the Cyprus bail-in failed some important tests of fairness. This is highly relevant given the provisional agreement reached between the European Parliament and the Commission on proposed Single Resolution Mechanism for the Banking Union on the 20th of March. The bail-in of depositors was considered

IMF Managing Director Christine Lagarde has praised the Cyprus authorities for keeping the rescue programme implementation on track, pointing out that the ongoing fiscal adjustment should be complemented by structural reforms. Lagarde was speaking to the press on Friday, following the executive board discussion during which the members completed the third review of Cyprus’s performance

“2013 recession not as severe as anticipated” Signs of stabilisation are emerging in the banking sector, however, the outlook remains challenging, with rising unemployment, falling credit, and increasing non-performing loans, the International Monetary Fund said in its report on Cyprus. The report said that while deep, the 2013 recession was not as severe as anticipated.

Cyprus President Nicos Anastasiades said that his government is about to create the post of deputy minister for shipping, one of six new cabinets posts he had promised a year ago in order to relieve some of the burden from key departments. In his address to mark the 25th anniversary of the Cyprus Shipping Chamber,

Eurogroup President Jeroen Dijsselbloem dismissed worries that Cyprus, like Greece, will need additional help from its international lenders, noting that the two cases are not similar and that he expects that Cyprus will recover in the short-term. Dijsselbloem, who was addressing a student lecture at the University of Cyprus on Monday night, said that had

Government efforts focus on accelerating the process of exploiting hydrocarbons in the Cypriot Exclusive Economic Zone, Energy Minister Giorgos Lakkotrypis said yesterday, adding that two exploratory drilling are expected to take place in 2014 and one more in 2015. He said there were encouraging prospects and called for patience. In statements in the southern coastal

Ryanair has kicked off its Paphos summer season which includes a new route to Athens giving passengers in Cyprus a choice of ten destinations for summer 2014. The low-cost airline released 100,000 seats on sale across its entire European network, with prices starting from 19.99 euros for travel in May and June, which are available