EIB to grant loans of €65m to Cyprus Cooperative Bank and Hellenic Bank

The European Investment Bank (EIB) will sign new loan agreements with the Cyprus Cooperative Bank and Hellenic Bank amounting to €25 million and €40 million respectively. The loan agreements, und [...]

FINANCE
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BY Elena Economou
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Jan 10 2018

Property transactions up 36% in January

In Paphos, property transactions rose 10 per cent to 349, in Larnaca 18 per cent to 181 and in the Famagusta district 94 per cent to 169, the department said. The above figures also include propertie [...]

MARKET TRENDS
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BY Elena Economou
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Jan 08 2018

Economic sentiment indicator deteriorated in December

The Economic Sentiment Indicator in Cyprus deteriorated as the Economic Sentiment Indicator (ESI-CypERC) decreased in December 2017 by 3.4 points compared with November 2017 declining to 118.9 units.H [...]

FINANCE
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BY Elena Economou
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Jan 08 2018

Cyprus to table coordinates of the remaining of its EEZ

The Republic of Cyprus is taking all the necessary steps to table the coordinates relating to the rest of its Exclusive Economic Zone (EEZ), for which the said coordinates have not been tabled, Foreig [...]

MARKET TRENDS
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BY Elena Economou
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Jan 06 2018

Saudi Aramco shows interest to do business in Cypriot EEZ

Saudi Arabian oil company Saudi Aramco has expressed interest to do business in Cyprus’ Exclusive Economic Zone, according to a PIO press release. It is noted that on the sidelines of President Ana [...]

MARKET TRENDS
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BY Elena Economou
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Jan 05 2018

Agreement with Saudi Arabia on avoidance of double taxation

Cyprus and Saudi Arabia signed on Wednesday a Convention for the avoidance of double taxation with respect to taxes on income and for the prevention of tax evasion. The Convention was signed during [...]

MARKET TRENDS
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BY Elena Economou
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Jan 04 2018

Liquidity in economy improves in November, central bank says

Total loans rose in November by €32.6m in a month to €52.1bn after falling by €110m in October. The increase in loans was mainly on €87.5m in fresh credit extended to corporations in November [...]

FINANCE
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BY Elena Economou
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Jan 03 2018

Open sea vessel to arrive in Cyprus

An open sea vessel is expected to arrive today at the Larnaca Port, in the framework of an agreement between the Republic of Cyprus and the State of Israel, in accordance with contractual obligations [...]

MARKET TRENDS
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BY Elena Economou
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Jan 03 2018

Hellenic Bank sells €145m in NPLs to Norway’s B2Holdings

Hellenic Bank, Cyprus’ third largest lender, said that it agreed to sell Norway’s B2Holdings ASA €145m of loans as part of its strategy to reduce its delinquent loan portfolio. The deal, subjec [...]

MARKET TRENDS
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BY Elena Economou
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Jan 02 2018

Due diligence before buying property

THE term due diligence refers to the process usually initiated by the purchaser of an immovable property or a business, through which the interested party or entity requests and obtains information, d [...]

TIPS & ADVICE
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BY Elena Economou
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Dec 31 2017