MARKET TRENDS

Building permits up 32% in first 10 months of 2017

Building permits up 32% in first 10 months of 2017

The permits provide for the construction of 1,949 new detached houses, 26 per cent more compared to January to October 2016, Cystat said. The number of semi-detached houses to be built rose 23 per cen [...]

Cyprus, Israel falling behind Egypt in energy prospects

In the East Med, 2017 was a year during which Israel and Cyprus said a lot but achieved little, while Egypt said less but achieved most. 2017 was a good year for Egypt. It secured a $12 billion loan f [...]

The biggest casino-resort in Europe to operate in Cyprus by 2021

“City of Dreams Mediterranean”, an integrated casino resort, considered to be the one of its kind in Europe will be operational by 2021, generating an annual contribution of €700 million to the [...]

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 properties [...]

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 [...]

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 [...]

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 th [...]

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 [...]

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, subject [...]

Beirut and Nicosia to deepen cooperation, new ambassador says

Lebanon and Cyprus aim to deepen cooperation, according to the new ambassador of Lebanon to Cyprus, Claude El Hajal, who said Nicosia would give assistance to Beirut in the field of exploration and ex [...]

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