MARKET TRENDS

Building VAT vote postponed until September

Lawmakers have postponed until September a vote on an EU harmonising bill through which the state would levy 19 per cent VAT on building and development plots. The legislation concerns the imposition [...]

BY Elena Economou
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Jul 11 2017

New terminal opens its gates at Limassol port

A new modern terminal designed to accommodate the largest operating cruise vessels, opened its gates for the first time on July 5, at DP World Limassol port, according to a press release. As it is no [...]

MARKET TRENDS
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BY Elena Economou
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Jul 08 2017

The brand new tower of the St. Raphael Resort is on its way!

MARKET TRENDS
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BY Elena Economou
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Jul 07 2017

Cypriot Passport ranks 12th Worldwide

The Cypriot passport has scored a passport rank of 12 worldwide, in the list of the Global Passport Power Rank by the Power Index 2017. Germany and Singapore came first with a visa-free score of 159, [...]

MARKET TRENDS
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BY Elena Economou
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Jun 28 2017

Melco the main shareholder of casino

Melco International Development Ltd, will be assuming the majority stake of 70.74% shareholding of the integrated casino resort project in Cyprus, with the agreement to purchase Hard Rock’s interest [...]

MARKET TRENDS
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BY Elena Economou
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Jun 28 2017

EU hits Google with record 2.42 billion euro antitrust fine

EU antitrust regulators hit Alphabet (GOOGL.O) unit Google with a record 2.42-billion-euro ($2.7 billion) fine on Tuesday, indicating they will likely take a tough line with the company in two other o [...]

MARKET TRENDS
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BY Elena Economou
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Jun 27 2017

MPs seek to ease the pain of VAT increase on building plots

Lawmakers on Monday sought to further tweak an EU harmonising bill whereby the state would levy 19 per cent VAT on building and development plots. It concerns the imposition of VAT on land sales for c [...]

MARKET TRENDS
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BY Elena Economou
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Jun 27 2017

Manhattan skyline for Limassol?

Numerous high-rise buildings, comprising commercial and residential properties, are set to dominate the skyline of Limassol; several are already under construction others are in the pipeline. At 37 fl [...]

MARKET TRENDS
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BY Elena Economou
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Jun 24 2017

Job vacancy rate rises to 1.2%

The job vacancy rate in Cyprus was 1.2% in the first quarter of 2017, up from 0.6% recorded in the previous quarter and 1.0% in the same quarter of 2016, according to figures published by Eurostat, th [...]

MARKET TRENDS
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BY Elena Economou
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Jun 21 2017

Larnaca port and marina enters next phase

The tender is for the development of the Larnaca marina, port, and the land surrounding the port and marina. The goal of the Transport Ministry is to create a mixed-use development which will combine [...]