THE TREND in housing loans interest rates continued, dropping in December 2013 to their lowest level since mid-2011. Meanwhile interest rates on consumer loans fell to their lowest level over the past two years (Central Bank of Cyprus, 2014).
It’s worth noting that loans of up to €1m for small...
THE RESTRUCTURING of Cypriot banks, fiscal discipline and a lower-than-anticipated contraction of Gross Domestic Product may have somewhat improved the country’s economic outlook, but the main underlying challenges to a full recovery remain.
That was the gist of a briefing given by the heads of...
A TROIKA mission continues meetings on a technocratic level in the context of the third review of Cyprus’ economic adjustment programme.
Technocrats from the European Commission, the European Central Bank and the IMF will be meeting with Cyprus Shipping Chamber, the Cyprus Investment Promotion...
BANKS have filed 6,000 foreclosure requisitions with the land registry which remain pending due to heavy workloads, AKEL MP Yiannos Lamaris has said.
Current legislation offers no protection to homeowners’ primary residence, meaning that if the 6,000 requisitions were to be pushed through, the...
UNIONS have accused building contractors of not paying employees on time, of cutting wages, and in some cases having not paid workers for months.
Employees do not speak up because the fear being fired, the unions said.
According to trade unions PEO and SEK, around 90 per cent of builders have not...
