Financial
Cyprus richest man could keep government running for 441 days!

Cyprus richest man could keep government running for 441 days!

How many days could the government keep running if the richest person of each country was paying for it? According to Bloomberg’s 2018 Robin Hood Index, Cyprus’s richest man, John Fredriksen, could keep his government running for 441 days. “With projected 2018 expenditures of $23.6 million, a small population and therefore smaller costs on social secur...
Financial Wednesday, 14 February, 2018
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Property sales rise continues in October

Property sales rise continues in October

The rise in Cyprus property sales in October was led by overseas buyers who bought 65 per cent more properties than in the same month last year according to official statistics from the Department of Lands & Surveys. Of the 768 contracts for the sale of immovable property in Cyprus deposited at Land Registry offices, 502 (65.4%) were deposited by Cypriot purchasers and 266 ...
Financial Monday, 27 November, 2017
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Hourican: Investors Have Confidence in Cyprus

Hourican: Investors Have Confidence in Cyprus

John Hourican, CEO at Bank of Cyprus, discusses investing in Cyprus, the country's credit rating and their non-performing loans, on Bloomberg Daybreak: Europe. Hourican responded to the question why investors choose Cyprus, referred to the growth rate of the economy - 3% in 2016 - which is the second best in Europe, broad base recovery, tourist number rising, and British Commo...
Financial Thursday, 13 July, 2017
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Golden Visa Program raises €4 billion

Golden Visa Program raises €4 billion

The Cyprus Golden Visa Program, which enables non-EU citizens to purchase Cypriot passports and residency permits by investing money in property and other sectors, has raised €4 billion. In fact, the revenue earned from the program now accounts for 25% of the Cyprus gross domestic product. The program has outperformed a similar program in Greece by a huge margin. Most of t...
Financial Tuesday, 30 May, 2017
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Alpha Bank Cyprus fined a quarter of a million

Alpha Bank Cyprus fined a quarter of a million

Alpha Bank Cyprus has been fined a quarter of a million Euros by the Office of Competition and Consumer Protection (CCPS) following its investigation into the company’s business practices. ‘Low cost’ Swiss franc loans were sold to around 11,000 of home buyers, both Cypriots and non-Cypriots, by Cypriot banks and their agents during the island’s property ...
Financial Monday, 07 November, 2016
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Fitch upgrades Cyprus to "BB-"

Fitch upgrades Cyprus to "BB-"

Fitch Ratings has upgraded Cyprus by one notch from ‘B+’ to ‘BB-’ with a positive outlook on continuing strong progress in its adjustment following the 2013 banking crisis but warns that banks remain weak due to the high level of NPLs.In its press release Fitch said “The issue ratings on Cyprus’ senior unsecured foreign and local-currency bon...
Financial Monday, 24 October, 2016
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UCY expects growth to pick up at 3.2% in 2017

UCY expects growth to pick up at 3.2% in 2017

The University of Cyprus said that accelerated economic growth in the third and fourth quarters of 2016 will result in a 2.9 per cent growth rate for the entire year, matching the finance ministry’s updated forecast, before growth accelerates further, to 3.2 per cent next year. Growth in the third quarter is forecast to accelerate to an annual 3 per cent and reach 3.4 pe...
Financial Friday, 21 October, 2016
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Hourican: BoC in Healthy State for Growth

Hourican: BoC in Healthy State for Growth

Investment-grade rating for Cyprus’ sovereign debt is still some way off but has been “notching up nicely” over the past year, and Bank of Cyprus is following it up, CEO John Hourican said in an interview to Bloomberg. He was commenting on the link between the lender’s performance and the trajectory of the Cyprus’ government bonds, the Cyprus Mail...
Financial Thursday, 29 September, 2016
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Chinese investor interest grows

Chinese investor interest grows

Chinese investors are attracted to Cyprus due to the offer of passports and a recovering economy and are catching up with Russian investors when it comes to Cypriot passports.Read more at: http://www.news.cyprus-property-buyers.com/2016/09/25/chinese-interest-grows/id=00151643Copyright © Cyprus Property News...
Financial Monday, 26 September, 2016
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Why businessmen choose Cyprus company formation

Why businessmen choose Cyprus company formation

The research made by Worldwide Incorporation Services shows that businessmen tend to choose Cyprus company formation for international business and trade. The main reason for this is that Cyprus offers a great number of benefits to businessmen and investors from all over the world, PR Newswire reports. Here are some reasons for why you should consider the idea of a Cyprus ...
Financial Wednesday, 10 August, 2016
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