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Loan rate cuts are a step in the right direction – BUT

The recent announcement by the island's 'big three' banks to lower interest rates are a step in the right direction, but problems remain and these rate reductions are not enough as George Mountis explains.
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Big three banks announce loan rates cut

The Alpha Bank, Bank of Cyprus and the Hellenic Bank have announced plans to lower their interest rates on certain categories of loans including home loans, business loans and credit card loans.
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Why Bank of Cyprus should not be separated

Rather than establishing a separate Asset Management Company, it's likely that the Bank of Cyprus will set up a separate internal non-performing loan unit to pro-actively manage problematic loans.
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Hellenic Bank recapitalised

The Hellenic Bank has announced its successful recapitalisation following a 24-hour grace period it received from the troika, with three firms offering a total of over €100 million for its recapitalisation.
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Banking commission final report released

The Independent Commission on the Future of the Cyprus Banking Sector has published its final report and recommendations for the long term recovery of the Cypriot banking industry.
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EU funds to help restart the economy

Speaking at a finance ministry event yesterday, Harris Georgiades announced that the European union will provide €847 million from its structural funds to help restart the island's ailing economy.
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Cyprus slips in Top of the Props chart

Cyprus slipped two places last month in the Top of the Props chart published by the TheMoveChannel.com which records the most searched for overseas destinations to buy property.
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MEP questions permits for real estate investments

Timothy Kirkhope, MEP for Yorkshire and the Humber, has raised a question in the European Parliament concerning the issue of residence permits to third country nationals investing in real estate.
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Bank of Cyprus reports €2.2 billion net loss in 2012

Bank of Cyprus has announced that it made a net loss of €2.2 billion in 2012, in addition to the €1.4 billion loss in the previous year, reflecting deterioration in its loan portfolio and declining collateral values.
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Banks may need a further 1.5 billion Euros

According to a report by Moody's Investor Services, Cypriot banks and cooperatives may require some €1.5 billion on top of the €2.5 billion of EU support funds earmarked for the banking sector.
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Sharp increase in non-performing loans

A recently issued report on Cyprus issued by the International Monetary Fund (IMF) anticipates a sharp increase in non-performing loans following their reclassification to include all loans in arrears for more than 90 days.
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Cyprus at number twelve in Top of the Props

The interest being shown in Cyprus as a destination for overseas property investors improved last month according to the 'Top of the Props' chart published by the TheMoveChannel.com.
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The world’s weakest housing market

Cyprus was the world's weakest housing market during the year to the second quarter of 2013, based on the latest survey of house price statistics conducted by the Global Property Guide.
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Deposit interest rates fall while loan interest rates rise

Although interest rates banks in Cyprus are paying their depositors have plummeted in recent times, the interest rates they are charging borrowers are increasing according to the European Central Bank.
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Restrictive measures road map unveiled

The restrictive measures on the movement of capital that Cyprus introduced in March could remain in place for a year or two and will only be removed gradually to safeguard financial stability.
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Investing in real estate debt

Investment in private real estate debt is the acquisition of performing or non-performing real estate loans from private lending institutions or from government sponsored 'bad banks’.
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New Limassol marina is ‘a gem’

The Limassol marina project is expected to be completed by the end of the year, with an official opening taking place in spring of 2014; the first yachts were welcomed earlier this year.
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China Glory flirts with new plots

According to unnamed sources, the Hong Kong based conglomerate that acquired the Venus Rock Golf Resort in Paphos is considering buying plots of land in Limassol, Larnaca and Paphos.
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Developers warned over Chinese market

Many Chinese people who have bought properties in Cyprus have felt cheated and complained according to Huali Che, president of the Chinese friendship association in Cyprus.
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Golf course at Secret Valley to open soon

A new 18 hole golf course at Secret Valley, which is part of the Venus Rock Resort development, is expected to open soon following the recent deal negotiated with China Glory National Investment.
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