The total value of property deals in the north annually is estimated at CYP 0.5 bln or USD 1.05 bln according to a report circulated among the House Commerce Meeting discussing the construction and tourism industry in the occupied areas. Cyprus government reports indicate that annually about 5,000 houses are sold to foreigners, generating some

— eTicket by end of year Cyprus Airways online ticket sales have passed the 100,000 mark, making the company’s website, www.cyprusairways.com, the most successful eBusiness site on the island. To mark the occasion, CAIR chairman Lazaros Savvides handed the keys to a Smart car to Christodoulos Papasavvas from Kokkinotrimithia, who entered the airline’s competition during

Charilaos Stavrakis, the Bank of Cyprus group deputy chief executive, was appointed as the new Chairman of the Board of the Electricity Authority of Cyprus (EAC), replacing Georgios Georgiades (also BOC board member) who earlier resigned from his post. Georgiades resigned from the board after the government ordered a probe to uncover the shortfall of

The Cyprus Tourism Organisation (CTO) has scrapped its dreaded 3% CTO tax, incorporating it in the VAT on all restaurant and hotel bills, which is now proposed to be hiked from 5% to 8%, according to a bill tabled before the House. The CTO generates some CYP 18 mln in annual revenue from the 3%

Freehold land from GBP 18,500 UK Land Investments has launched its latest premier site in one of the most beautiful areas of the South East England countryside, offering Cyprus based investors the opportunity to invest in freehold land, with the potential of earning high value if permission is given by the local authorities to convert

German police launched a series of raids on eBay dealers suspected of selling fake luxury products worth about 2.3 million euros, the weekly Der Spiegel reported Monday. Police investigators and prosecutors searched 14 offices and apartments between Wednesday and Friday in eight cities across Germany. Led by a special police unit from the east German