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Moody’s places Cyprus on review for downgrade

Ratings agency Moody's has placed Cyprus on review for a possible downgrade citing the slow pace of negotiations with the Troika and evidence that the Cyprus budget deficit will be significantly larger than expected.
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More considering Cyprus as investment destination

Cyprus is back on the radar of those planning to buy overseas property according to the most recent Top of the Props chart and a survey of visitors to A Place in the Sun Live exhibition at Birmingham's NEC.
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Where well-off Chinese are looking to immigrate

Exhibitors from Cyprus were the most prominent amongst around 140 developers from more than 20 countries showcasing their products to potential Chinese buyers in a recent property exhibition held in Beijing.
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More junk from Standard & Poor’s

Standard & Poor's has pushed Cyprus credit rating further into junk territory reflecting their view that its creditworthiness has deteriorated since the ratings agency's downgrade on 2nd August.
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Chinese airport deal a dead duck

It is unlikely that the 600 million Euro investment by Far Eastern Phoenix to convert Larnaca's old airport into a large commercial showroom for Chinese products and a logistics centre will go ahead.
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Property sector will act as a further drag

The island's property sector may be more of a problem for the economy than initially thought as, during the boom years, banks lent considerable amounts of money to property development and housing.
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Moody’s slashes Cyprus government bond ratings

Yesterday Moody's Investors Service downgraded Cyprus' bond ratings three notches further into junk territory and it's ratings on three Cypriot banks citing "profound difficulties" in the island's banking sector.
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Cyprus property agents talk up Chinese interest

Although Chinese interest in the Cyprus property market is undoubtedly increasing, mainland investment in the island is still a trickle, according to the South China Morning Post.
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Cyprus ranked in top 10 countries

Cyprus has moved up into the top ten countries for those seeking out investments in overseas property according to the latest ‘Top of the Props’ chart published by the TheMoveChannel.com.
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HMRC removes all Cyprus QROPS

Questions are being asked as to why Her Majesty's Revenue and Customs has removed all the Cyprus-based Qualifying Recognised Overseas Pension Schemes from its list of registered schemes.
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Government aide resigns over airport deal allegations

Marios Ieronymides, director of President Christofias' Diplomatic Office, has resigned following allegations in the press of a conflict of interest in his relationship with Chinese investor Far Eastern Phoenix.
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Cyprus Popular Bank chairman ordered to quit

Michalis Sarris, the chairman of the Cyprus Popular Bank has been asked to step down after accusing the island's government of making serious mistakes in a recent television interview for the BBC.
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Cyprus may need more than €10 billion for bailout

The island's' public finances are in a worse state than we expected said troika official Maarten Verwey according to the minutes of the meeting obtained by Bloomberg News; more bailout cash may be needed.
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Cyprus ratings lowered as bailout talks continue

Ratings agency Standard & Poor's has cut Cyprus’ long-term sovereign credit rating a notch pushing it deeper into junk territory and placed it in on CreditWatch with negative implications.
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Nightmare scenarios for sweeping cuts

Cyprus will need to take painful measures to tackle problems in its banking system and state finances according to local media reports following the conclusion of the troika's second visit to the island.
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Bad loans are key to assessing EU bailout

The size of the EU bailout will be determined by the methodology employed by troika to assess bad loans as Cypriot banks do not count fully secured loans as nonperforming even though they have not been serviced in 90 days.
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Judgement day for banks approaching?

Banks do not count loans that are fully secure as being nonperforming even though they have not been serviced in 90 days. If the Troika treats such loans as nonperforming, several more billions will be needed to recapitalise them.
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Free Tickets to A Place In the Sun Live

Free tickets are available to the A Place In The Sun Live overseas property exhibition at NEC Birmingham between 28th - 30th September where advice on buying property in Cyprus and many other destinations will be given.
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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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Island under the Troika microscope

The Island will be put under the microscope by members of the Troika delegation who arrived in Cyprus yesterday for a fact-finding mission that is expected to play a crucial role in Cyprus' EU bailout application.
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