Banks relax household credit rules for first time in 3 years

Demand for mortgages and consumer credit as well as corporate credit rose in the previous quarter and is expected to increase further in the current quarter, the central bank said.

FINANCE
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BY Elena Economou
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Feb 16 2018

Fitch: Strong growth, election result should ‘underpin’ improving finances

Strong economic growth in Cyprus and the expectation of policy continuity after the outcome of the recent presidential elections “should underpin” improving public finances, Fitch Ratings believes [...]

FINANCE
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BY Elena Economou
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Feb 15 2018

Energy Minister meets with ENI representatives to assess EEZ developments

Energy Minister Georgios Lakkotrypis said he is meeting on Tuesday with representatives of the Italian energy giant ENI, in order to asses on the highest level the available options concerning develop [...]

MARKET TRENDS
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BY Elena Economou
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Feb 14 2018

New cabinet announced

President Nicos Anastasiades announced on Tuesday the composition of his new cabinet, which includes four fresh faces, The president appointed government spokesman Nicos Christodoulides as head of th [...]

MARKET TRENDS
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BY Elena Economou
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Feb 13 2018

Investigation of a company’s affairs

Where it is shown that a more in-depth investigation is required in relation to a company’s affairs to protect its interests, the court may at the request of a shareholder issue a declaration statin [...]

MARKET TRENDS
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BY Elena Economou
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Feb 12 2018

A real estate cause for worry?

AS TIME passes so the pressure on Cyprus from the EU increases. At this point the visa/passports scheme is working well for us and has contributed to the expansion of the economy by 4% this year, wh [...]

MARKET TRENDS
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BY Elena Economou
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Feb 10 2018

Shacolas Tower, Superhome and Debenhams Limassol sold to BoC

Woolworth Properties Plc has agreed to sell three properties worth €44 million to Bank of Cyprus, the company said on Thursday in a filing with the Cyprus Stock Exchange. The deal concerns the Shac [...]

MARKET TRENDS
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BY Elena Economou
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Feb 09 2018

Eni announces a gas discovery Offshore Cyprus

An intensive and detailed data collection (fluids and rock samples) has been executed on the well. Calypso 1 is a promising gas discovery and confirms the extension of the “Zohr like” play in the [...]

MARKET TRENDS
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BY Elena Economou
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Feb 08 2018

Egypt warns Turkey over East Med economic interests

Egypt on Wednesday warned Turkey against any infringement of its economic rights in the eastern Mediterranean under a maritime border demarcation agreement signed in 2013 with Cyprus that allows explo [...]

MARKET TRENDS
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BY Elena Economou
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Feb 08 2018

Hints of encouraging gas finds, but experts urge caution

ENI and Total may have made a substantial gas discovery at their Calypso prospect in Cyprus’ offshore block 6, according to reports in the foreign press. Israeli financial daily Globes has reported [...]

MARKET TRENDS
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BY Elena Economou
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Feb 07 2018