Integrated Casino Resorts Cyprus Ltd (“ICR Cyprus”) launched Cyprus Casinos Larnaca (“C2 Larnaca”) at Larnaca International Airport on Friday afternoon.
 
According to a press release, it is the second ICR Cyprus licensed satellite casino in Cyprus after the successful launch of the first temporary casino - Cyprus Casinos Limassol (“C2 Limassol”) last June and the first satellite casino - Cyprus Casinos Nicosia (“C2 Nicosia”) earlier this month.
 
C2 Larnaca located in two different spaces in the Airport terminal, features 42 state-of-the-art slot machines in total. The first location in the departures area is accessible only to departing passengers, whilst the second in the arrivals area is accessible to the general public.
 
Craig Ballantyne, Property President of City of Dreams Mediterranean and Cyprus Casinos (“C2”), said that, “keeping to our schedule, C2 Larnaca has become the newest member of the C2 portfolio. We believe that C2 Larnaca will offer tourists and locals travelling from and to Cyprus a unique entertainment experience.”
 
“We are pleased to welcome Larnaca’s satellite casino C2 Larnaca to the premises of Larnaca International Airport. We wish the consortium that manages it every success,” said the CEO of Hermes Airports, Eleni Kaloyirou.
 
As it is noted, C2 operates in accordance with the Cypriot law and relevant regulations, demonstrating Melco’s commitment to the highest standards of service, quality and responsible gaming. C2 Larnaca is open 24/7 serving passengers from all over the world. Visitors must be 21 years of age and above to enter and observe the responsible gaming policies of C2 as posted at all our locations and online.
 
Two more satellite casinos set to open in the Paphos and Ayia Napa during 2019 will be also known as Cyprus Casinos “C2”. Operations of C2 Limassol will cease when the City of Dreams Mediterranean integrated casino resort is launched, while the four satellite casinos C2 will continue to operate.

Source: Stockwatch

Google published its annual global rankings of the most-searched words and phrases.

The 2018 FIFA World Cup, the royal wedding of Meghan Markle and Prince Harry in the U.K. and the release of the “Black Panther” movie landed among the tech giant’s most searched subjects.

But other events also were widely searched this year, such as the death of Swedish musician and DJ Tim Bergling — popularly known as Avicii.

Most popular Google searches in 2018:

1) World Cup

2) Avicii

3) Mac Miller

4) Stan Lee

5) Black Panther 6

) Meghan Markle

7) Anthony Bourdain

8) XXXTentacion

9) Stephen Hawking

10) Kate Spade

Most searched news on Google:

1) World Cup

2) Hurricane Florence

3) “Mega Millions” lottery results

4) The Royal Wedding

5) U.S. midterm elections results

6) Hurricane Michael

7) Kavanaugh hearings

8) Florida shooting

9) 2018 Brazil truck drivers’ strike

10) U.S. government shutdown

Most searched people on Google:

1) Meghan Markle

2) Demi Lovato

3) Sylvester Stallone

4) Logan Paul

5) Khloé Kardashian

6) Jair Bolsonaro

7) Brett Kavanaugh

8)Hailey Baldwin

9) Stormy Daniels

10) Cardi B

Most searched movies on Google:

1) Black Panther

2) Deadpool 2

3) Venom

4) Avengers: Infinity War

5) Bohemian Rhapsody

6) A Star Is Born

7) Incredibles 2

8) The Nun

9) A Quiet Place

10) Jurassic World: Fallen Kingdom

When modern is your style, you can’t help but seek the neutral colors in life. Your wardrobe is probably mostly black and white. Creams, beiges and inky shades rule your home’s decor. Simplicity seeps into every aspect of living. But how much is this affected by the actual home you live in? A farmhouse is so easy to fill with knick knacks and antiques that modern simplicity is almost impossible to attain in that element. So for ultimate modern living, living in a modern style house is the goal. Clean lines, neutral colors, the outside of your home will reflect the inside. Here’s what you need to know about identifying modern style homes as you prepare to create your own modern paradise.

History

The modern styled made it’s entrance at the end toward the end of the 19th century. With materials like glass, steel and concrete more readily available, people were ready to achew the older styles in favor of new and modern ones. Austrian architect Rudolph Schindler designed a home in 1922 that was named the first modern house in existence. His later creation of the Newport Beach house, Lovell, was a major cornerstone in modern architecture in the U.S. After the second world war, architects like Frank Lloyd Wright and Richard Neutra made modern design a common sight among the wealthy neighborhoods.

Modern homes are very boxy in nature. With flat roofs, grid windows and industrial features, it’s no wonder that they are the modern stylist’s dream. Often, the exterior will be made up of elements like concrete or stone paired with wood siding. You’ll find windows with black sashes, linear stair rails and fences and absolutely no shutters. Yet somehow, modern homes manage to be warm and inviting to the eye.

Exterior

So many modern homes you see consist of black and white. However it doesn’t have to be two tone to be modern. If your house is in a rustic area, covering the exterior with warm wood siding can help your modern home blend into the neighborhood but still fit your modern style.

Pining for a bit of color in your life? Use the exterior of your home to achieve it. Pops of bright shades like turquoise, red and yellow make the exterior of your home a fun sight to see. You’ll easily prove that modern living can be minimal and family friendly at the same time.{found on mcinturffarchitects}.

Living in a city home can be tricky for modern style lovers. Properties are smaller which makes your house options limited. However, to keep part of the traditional home and just add a modern piece, like a second story or a backyard greenhouse, can make your entire house feel modern and fresh even if it is technically a Queen Anne.{found on chanarchitecture}.

Challenged on horizontal space to build your modern home? Think tall instead. Rather than having your modern home splayed long across your property, stack all the areas on top of each other. Garage and storage on the bottom, living layers next and private areas on top.{found on duketarchitects}.

Modern homes can be anything but one big square if you like. They could be all kinds of squares and rectangles, stacked on top of each other in different ways to create one big work of art. Anyone would be lucky to call that home.

Modern living is quite a common style for tiny houses. When there isn’t much room for quaint and chic, it’s just best to go simple and clean, leaving you with a modern feel. Modern tiny houses can be small and vertical or so small that they are portable. It’s up to you how much space you need to function.{found on design-milk}.

Whether your modern house is made up of stone and wood or wood and iron, you’re sure to find some concrete somewhere in the exterior design. It’s a common element for entertaining spaces since it’s cheap and relatively simple. The easier the material, the bigger your outdoor entertaining space can be.

Just like the exterior of your home is modern, any outdoor living space is going to reflect this style. Sleek outdoor furniture will look wonderful on your modern patio. Black countertops would make a find outdoor kitchen choice. As you make these outdoor decisions, think of how they will look against the exterior of your home as well as how they work with your interior decor.

One reigning element of any outdoor space is the fire pit. There’s nothing like settling down with your friends, hot cider in hand, and watching the flames together. There are tons of DIYs for modern fire pits if you have the itch to do a project or you can purchase on of the many sleek examples.

Some modern homes have the space for outdoor entertaining but maybe not the resources to add all the fancy patios and pools. No worries. Spend your time and money making your indoor living areas easily accessible from the outdoor space. Then all you have to do is throw open the doors and let the party flow in and out themselves.{found on fearns}.

No outdoor space to speak of? Get creative and consider vertical gardening. You can make your pattern face outward for the world to see or face inward for your own pleasure. Either way, use the walls of your home to bring some greenery into your life.

Interior

Hellenic Bank posted record profits amounting to €295.9 million for the period that ended on 30 September after acquiring the performing part of the Cooperative Cyprus Bank (CCB).

In late June 2018 the Bank acquired the performing operations of the ailing state-owned CCB absorbing a balance sheet of €10.3 billion, propelling the bank’s assets to €16 billion from €6.7 billion in end-March 2018.

The bank’s record profits were generated by the negative goodwill (the difference between assets and liabilities) of the acquired balance sheet. Hellenic paid the CCB €74 million and acquired assets and liabilities with a fair value of €372 million.

According to the financial results, the bank’s non-performing exposures dropped sharply to 31% from 51.6% in second quarter, including the NPEs guaranteed by an asset protection scheme (APS) granted by the government, while excluding the APS-guaranteed NPEs, the ratio declines further to 25.6% of total loans.

In absolute terms, the bank’s NPEs increased to €2.52 billion compared with €2.12 in the previous quarter, with the majority of the new NPEs that emerged after the acquisition, amounting to €433 ml, guaranteed the APS.

The NPE’s provision coverage in end-September amounted to 54.1%, the bank said.

Furthermore, Hellenic Bank’s Common Equity Tier 1 capital ratio amounted to 18.2% accounting for the €150 million capital raise expected to take place by end March 2019, while the total capital adequacy amounted to 20.9% accounting for the expected capital raise.

The bank’s operating profit for the third quarter of 2018 reached €18.3 million, compared with €3.7 million the previous quarter with Q3 including the results of the acquired entity for only one month.

“The acquisition of ex CCB strengthens our business model and propels the Bank into consistent, healthy profitability,” Hellenic Bank’s CEO Ioannis Matsis said in a statement, adding “this enables us to focus on our mission, which is to provide an excellent service to our enlarged customer base and to continue financing the growth of the real economy.”

The bank’s net interest income for the nine months that ended on September 30 reached €103.8 million recording an increase of 5% in the nine months of 2017, mainly due to the acquisition of the CCB, while Q3 net interest income rose by 63% compared with the previous quarter.

Total expenses for the period of January – September 2018 amounted to €133.6 million, marking an increase of 16% year on year mainly due to administrative and other expenses, the bank said.

Source: Stockwatch

VERY few people read let alone understand the small print when they take out insurance for property. Even if you insure a building for ‘all purposes’ including acts of God (rain, floods etc) be sure that the insurance company has its back covered to avoid a reduction to your claim. Recent events have come to our knowledge leading us to express the following:

Excess: There is an excess and it is up to the insured to place the amount of the excess. The higher the excess, the lower the insurance premium. Do not be lured by this, and accept a minimum amount of €100-€500 depending on the value of your property.

Vacant properties: Properties that are vacant for more than 30 days are not covered. So with holiday homes, notwithstanding that you think they are covered, if you cannot prove your property was occupied for at least 30 days, you are not covered. Opt for the clause to cover this as well be it for a slightly higher amount.

Bush fire: If your property is damaged by fire caused by the surrounding area – from a neighbor or bush fire etc – and your property is damaged, your property will most likely not be covered, opt to have this included.

New for old: When a client of ours who had his parquet floor damaged as a result of flooding, the insurance company would not pay for its replacement cost since the replacement floor would be new, as opposed to the existing one (4 years old) which was old. The standard approach is for the insurance company to discount a percentage from the replacement cost for ‘old’ items. Opt to have clearly the reinstatement cost as new, or even depreciated provided that amount you receive can cover the damage.

Electrical goods: Electrical appliances that cause damage to the property are not covered if a property is unoccupied and you should have all electrical appliances turned off while you are away – opt to have it covered.

Third party insurance: A major issue for all owners is to have an insurance cover in the event a visitor suffers damage notwithstanding that the visitors may be trespassers.

Tree damage: An aged tree fell into the neighbour’s ground but no building damage was caused, but the neighbour demanded compensation for the damage to his garden. It is not a matter of a major amount but both being stubborn the case is leading to the courts and the tree owner’s insurance does not recognise any responsibility.

Subsidence: As we have previously reported, the owners claimed for damage caused by the soil subsidence. The insurance company claims it is not covered and compensation should be sought from the developer/architects/contractors. A mess since no one believes that this will happen to his own property.

Over insured: In ending if a property is underinsured (e.g. a house has a replacement cost of €300,000 and you insure the property for €100,000), the insurance co will pay one third of the whole the cost of replacement for any item. If insured for more the insurance company has no problem to take the fee on and bother with it later coming up with all sorts of excuses.

Source: CyprusMail

The House of Representatives Plenary on Friday approved by majority voting the 2019 state budget, that provides for a surplus amounting 3% of GDP.

Thirty MPs from ruling Democratic Rally DISY, the Democratic Party and the Solidarity Movement voted in favour and 24 from left-wing AKEL, the Social Democrats Movement EDEK, the Citizens` Alliance, the Movement of Ecologists – Citizens’ Cooperation (the Greens), the National Popular Front and independent MP Anna Theologou voted against.

Speaking to the press after the voting, Finance Minister Harris Georgiades expressed his satisfaction over the budget’s approval.

“This is a balanced budget for the sixth consecutive year,” he said, adding the budget provides fiscal space for some tax cuts and for the
implementation of new projects and reforms.

“Above all it is a budget that constitutes a tool for the broader effort to continue the path of growth of our economy,” he added, noting the approval of the 2019 state “budget secures stability and positive prospects.”

The 2019 state budget provides for revenue amounting to €8.55 billion and expenditure amounting to €7.91 billion. The fiscal surplus is estimated at €640 million or 3% of GDP. The Central Government primary expenditure (excluding debt servicing costs) amount to €6.27 billion.

Furthermore, according to the Finance Ministry, the Cypriot economy is expected to grow by 3.8% in 2019 and by 3.4% and 3.0% in 2020 and 2021 respectively. Inflation is forecasted to reach 1% in 2018 and is expected to accelerate to 1.2% in 2019 and 1.5% and 2.0 in 2020 and 2021 respectively.

Unemployment is expected to ease to 7.5% in 2018 and will decline further to 7.0% in 2019 and is forecasted to decline to 6.3% and 5.5% in
2020 and 2021 respectively.

The government incorporated to the budget a total of 51 amendments which increase public spending by 16 million.

The Plenary marked the funds for the “ESTIA” scheme a programme aiming to subsidise repayments plan for borrowers with non-performing loans that are secured by primary residences, and slashed operating expenditure and expenditure for advisory services by 5% respectively, while voted against expenditure associated with privatisations. Marked funds can only be disbursed after a written consent by the Parliamentary Committee of Financial and Budgetary Affairs.

Source: Stockwatch

The value of building permits spiked by an annual 46% in January – September 2018 to €1.55 billion owing to rise in large projects, according to data released on Tuesday by the Cyprus Statistical Service (Cystat).
 
The number of building permits issued in the period of January – September 2018 amounted to 4.702 marking an increase of 9.38% compared with 4.281 permits issued in the respective period of 2017.
 
According to Cystat, the largest increase was recorded in the value of large project which spiked by 78% to €0.97 billion compared with €0.53 billion in the respective period of 2017. The number of permits for large projects rose by 61.4% to 394 while the area of these permits rose by 50% to 681.128 square metres.

Building permits for small projects for the period of January – September 2018 rose by 6.71% to 4,308 compared with 4,037 in the respective period of 2017.

In September the number of building permits authorized by the municipal authorities and the district administration offices during September 2018 stood at 588.

The total value of these permits reached €160.2 million and the total area 155,2 thousand square metres. These building permits provide for the construction of 576 dwelling units.

Building permits constitute a leading indicator of future activity in the construction sector.

Source: Stockwatch

The value of building permits spiked by an annual 46% in January – September 2018 to €1.55 billion owing to rise in large projects, according to data released on Tuesday by the Cyprus Statistical Service (Cystat).
 
The number of building permits issued in the period of January – September 2018 amounted to 4.702 marking an increase of 9.38% compared with 4.281 permits issued in the respective period of 2017.
 
According to Cystat, the largest increase was recorded in the value of large project which spiked by 78% to €0.97 billion compared with €0.53 billion in the respective period of 2017. The number of permits for large projects rose by 61.4% to 394 while the area of these permits rose by 50% to 681.128 square metres.

Building permits for small projects for the period of January – September 2018 rose by 6.71% to 4,308 compared with 4,037 in the respective period of 2017.

In September the number of building permits authorized by the municipal authorities and the district administration offices during September 2018 stood at 588.

The total value of these permits reached €160.2 million and the total area 155,2 thousand square metres. These building permits provide for the construction of 576 dwelling units.

Building permits constitute a leading indicator of future activity in the construction sector.

Source: Stockwatch

GDP growth rate in real terms, during the third quarter of 2018, is estimated at 3.7% over the corresponding quarter of 2017, according to data released on Friday by the Statistical Service of Cyprus.

Based on seasonally and working day adjusted data, GDP growth rate in real terms is also estimated at 3.7%.

The increase of the GDP growth rate is mainly attributed to the sectors: "Hotels and Restaurants", "Retail and Wholesale Trade", "Construction", "Manufacturing", "Transport and Storage", "Professional, scientific and technical activities" and "Administrative and support service activities".

The negative growth rate was recorded by the sector "Financial and Insurance Activities".

Source: Stockwatch

Interest rates for house purchase declined to a new historic low in October, according to data released by the Central Bank of Cyprus, concerning the interest rates on new deposit and loan contracts.

Furthermore, interest rates for consumer credit and interest rate for deposits with agreed maturity up to one year also declined to new historic lows.

Moreover, new lending increased by €28.5 million in October compared to September amounting to €292.1 million.

Concerning deposits, interest rates for deposits with agreed maturities up to one year, declined to 0.54% in October from 0.62% the previous month, marking a new all-time low.

The corresponding rate for deposits from non-financial corporations declined to 0.75% compared with 0.83% in the previous month.

On lending rates, interest rates for consumer credit declined to 3.48% in October compared with 3.60% the previous month.

Lending rate for house purchase declined to a new all-time low amounting to 2.26% in October, compared with 2.37% in the previous month.

Rates for loans to non-financial corporations for amounts up to €1 million declined to 3.49% from 3.52% in the previous month, while rates for corporate loans above €1 million declined to 3.26% in October from 3.62% in the previous month.

According to the CBC, new loans in October amounted to €292.1 million compared with €263.6 million in the previous month, mainly due to the rise in loans for house purchase and to the corporate loans above €1 million.

Consumer loans increased in October to €13.3 million compared with €10.8 million the previous month. New loans for house purchase rose to €69.2 million compared with €58.9 million in the September.

New corporate lending up to €1 million amounted to €43.5 million in October compared with €43.1 million the previous month, while new corporate loans above €1 million amounted to €144.8 million compared with €131.8 million in September.

Source: Stockwatch