The names of 25 of the 26 investors from whom Cyprus is in the process of revoking citizenship have been named; nine Russians, eight Cambodians, five Chinese, two Kenyans and one Malaysian.
The Cyprus Government has promised to provide some financial assistance to a number of Pissouri landslide victims, which is currently affecting about one million square metres southwest of the village centre.
A British couple whose dream home at Armou in Cyprus is collapsing due to the landslide is suing the Cypriot government for allowing the development to be built on unstable ground.
The Cyprus Interior Minister, Socrates Hasikos, has announced that plans drawn up under the Christofias administration which aimed to raise €180 million by increasing Immovable Property Tax have been scrapped, for now.
Finally, after two years of negotiation, the government and the Zenon Consortium have signed an agreement for a joint development of the Larnaca port and marina at a cost in excess of €700 million.
The Title Deed fiasco will be at the top of the agenda at a high-level meeting scheduled to be held next week between senior ranking EU officials and ministers from the Cyprus government.
Following the resignation on health grounds of Finance Minister Kikis Kazamias last Friday, a mini-reshuffle of the Cyprus cabinet was announced earlier today with Neoclis Sylikiotis taking over as the minister for Commerce And Industry.
The Cyprus government has been urged to take “decisive steps to eliminate delays related to the issuing of title deeds,” to focus hard on reviving the island’s overseas property sector, and to avoid increasing local property taxes.
The deal signed by the Cyprus government and Qatari Diar Real Estate Investment Company to build a luxury hotel, commercial, residential and leisure complex in Nicosia is still in the balance.
The government of Cyprus is expecting to collect an additional €10 million to €20 million in taxes from property owners in a bill designed to increase state revenues to combat the recession.
The Cyprus Interior and Finance Ministers are to examine different scenarios for revising property taxes designed to increase the inflow of revenue into state coffers.
The Cyprus government's Water Development Department (WDD) has announced the continuation of various subsidy schemes in its drive to promote water saving which have now been extended until 6th December 2010.
The Association of Cyprus Tourist Enterprises, STEK, and the Cyprus Hotel Association, PASYXE, are the latest groups to announce their opposition to the governments’ proposals on property tax.
