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Cyprus construction sector decline continues

Latest figures from the Cyprus Statistical Service paint a very bleak picture of the construction sector which continues to decline as the Island's financial and banking crisis deepens.
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Bank of Cyprus investigated by CYSEC

CYSEC has started a probe into whether the Bank of Cyprus' management withheld information from shareholders at their recent meeting with the aim of misleading them and is also looking into issues of possible stock market manipulation.
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Cyprus bids for EU bank bailout

Cyprus has become the fifth Eurozone country that has turned to Brussels for emergency funding. It is seeking a lifeline for its banks and its budget, hours after Spain submitted a formal request to bail out its banks.
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Fitch cuts Cyprus credit rating to junk

Credit ratings agency Fitch downgraded the Island's credit rating to "junk" status earlier today due to the amount of rescue money needed to bail out its banks, which are heavily exposed to the Greek economy.
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Cyprus property prices and rents continue to fall

The tenth publication of the RICS Cyprus Property Price Index shows a continuing drop in property prices and rents across the main urban areas of the Island during the first quarter of 2012.
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Russia and Cyprus close to loan deal

Finance Minister Vassos Shiarly has refused to speculate on Russian media reports that Russia is close to agreeing a loan deal worth 5 billion Euros with Cyprus to prevent it seeking an EU bailout.
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Moody’s pushes Cyprus deeper into junk status

Moody's has downgraded Cyprus government bond ratings two notches pushing it deeper into junk status on fears that Greece will leave the Eurozone and placed the ratings on review for further possible downgrade.
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Cyprus seeking help from Russia and China

Deputy Europe Minister Andreas Mavroyiannis said that Cyprus could seek help from Russia and China in efforts to secure 1.8 billion Euro to recapitalise the Popular Bank and it could need as much as 4 billion Euro.
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Cyprus new homes down fifty percent

Home construction in Cyprus is showing no signs of a recovery with the number of new residential properties authorised in March falling by more than half those authorised in March 2011.
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Will Cyprus follow Dubai initiative to protect investors

Cyprus is not the only property market suffering from a lack of overseas investment. Next month, Dubai plans to introduce legislation designed to protect investors enabling them to obtain a full refund.
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Greece exit from Eurozone would hit Cyprus hard

Experts agree that Greece leaving the Eurozone would hit Cyprus hard; the Island will be plunged into a deeper recession, the entire population will have to make sacrifices and we will end up in an EU bailout.
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Could Cyprus be the next domino to fall

In a programme first broadcast on the BBC News Channel earlier today, HARDtalk's Stephen Sackur asks the former finance minister Michalis Sarris if Cyprus could be the next domino to fall in the Eurozone crisis.
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Massive gas finds off Cyprus announced in New York

At a function held at the Cyprus US Chamber of Commerce in New York, Noble Energy’s CEO announced that the company has discovered much larger quantities of natural gas in the Eastern Mediterranean.
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Alpha Bank Cyprus Ltd announces interest rate cut

An announcement by the Alpha Bank appeared in today's press advising its clients of a reduction in the default interest rate from 7th May 2012 in acknowledgement of the recession.
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Cyprus moves up three places in Top of the Props chart

The popularity of Cyprus for those seeking out investments in overseas property moved up three places in March according to the latest ‘Top of the Props’ chart published by the TheMoveChannel.com
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Moody’s downgrades three Cyprus banks again

Despite their efforts to raise fresh funds, Moody's Investor Service has downgraded the three leading Cyprus bank ratings following Tuesday's cut to 'junk' of the Cyprus sovereign ratings.
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Vanishing Cyprus: consumerism

Cyprus has become the most expensive country in Europe while consumers are trapped and as victims of sheer greed, corruption and government incompetence they try to make ends meet against insurmountable odds.
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Moody’s downgrades Cyprus sovereign ratings to junk

Moody's Investor Service cut Cyprus' sovereign ratings to junk earlier today saying there was a heightened risk that the government would have to support the banks, which are heavily exposed to the Greek debt.
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Property sales in Cyprus tumble after a promising start

The number of properties sold in Cyprus during February fell 26 percent compared with the number sold in February 2011, after having risen in January for the first time in nineteen months.
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Depressing outlook for Cyprus’ economy

The European Commission's interim report on the Cyprus economy paints a gloomy picture for the future resulting from a number of factors including a worsening of the external environment.
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