CONSTRUCTION firms are facing severe problems as the industry is collapsing under the massive pressure caused by the financial crisis according to a report in today’s Cyprus Weekly.
According to the report, the Registrar of Companies says one in four constructors are going bankrupt, while...
The European Parliament
THREE measures to ensure that banks shoulder the risks of failure rather than relying on taxpayers to bail them out were approved by the European Parliament on Tuesday.
Two of the measures deal with restructuring and winding down troubled banks, and the third ensures that...
THE mortgage-to-rent, under consideration as a means of protecting primary residences, will be effectively financed by the state budget and will only apply to specific cases, Finance Minister Harris Georgiades said yesterday.
It will allow the owners to continue to live in the house by paying lower...
THE STATE should buy non-performing loans (NPLs) from banks and implement a mortgage-to-rent scheme, a senior government advisor said on Tuesday, as a way to protect primary residences and small business premises.
The matter was discussed during a meeting of the national council on the economy with...
THE Cyprus Land Development Corporation (CLDC) has been instructed by the government to study the Irish mortgage-to-rent scheme, the House Finance committee was told on Tuesday.
The committee convened to discuss the budgets of semi-government organisations, including the Cyprus Broadcasting...
