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Fitch downgrades three Cypriot banks

Fitch Ratings has downgraded three Cypriot banks by one notch saying that finding private capital to cover their capital needs until June will be "difficult". Fitch downgraded the three banks to BB+ from BBB- with negative outlook.
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Cyprus may get a natural gas terminal

Following the discovery of significant natural gas deposits off Cyprus' southern coast last December, one of the options Noble Energy is considering is a terminal in to provide gas for the domestic market as well as a potential for an LNG export project.
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Cyprus one of five Eurozone nations cut by Fitch

Following its warning a week ago, Fitch cut the sovereign credit ratings of Cyprus and five other Eurozone nations yesterday, indicating there was 50 percent chance of further cuts in the next two years.
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Cost of housing loans may increase

Banks are considering increasing housing loan interest rates of in light of the tough conditions in the sector and the increased risk in the Island's property market, according to StockWatch.
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EU congratulates Cyprus on measures

European Commissioner for Economic and Monetary Affairs Olli Rehn and President of the European Central Bank Mario Draghi have congratulated Cyprus on the tough decisions and the austerity measures it has adopted to achieve fiscal consolidation.
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Cyprus may be further downgraded by Fitch

Cyprus faces the prospect of a further ratings downgrade by the end of the month after credit ratings agency Fitch repeated its intention to downgrade the Island and five other eurozone countries.
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Property market review and expectations for 2012

A fall in Cyprus' GDP and rising unemployment means that the good days have gone. We are probably approaching the worst point, but things are unlikely to get back to where they were.
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Standard & Poor’s downgrades Cyprus to junk status

Ratings agency Standard & Poor's has cut the credit ratings of Cyprus by two notches to junk status as a result of the problems within the eurozone and the Cypriot financial institutions' significant exposure to Greece.
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Cyprus slips to number 14 in Top of the Props chart

The latest 'Top of the Props' chart shows that the popularity of Cyprus as a destination for those seeking out investments in overseas property slipped five places in December to number fourteen.
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Natural gas find offshore Cyprus worth tens of billions

On Wednesday, Nobel Energy announced that it had found natural gas reserves offshore the Republic of Cyprus and that results from drilling and initial evaluation work indicate the reserves amount to between 5 and 8 trillion cubic feet.
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American interested in massive tourist investment

Local media reports that a foreigner, believed to be an American, met with President Demetris Christofias yesterday to discuss investing in a massive tourist development on the Island.
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Cyprus’ popularity slips two places

The popularity of Cyprus as a destination for overseas property investors slipped two places to the number nine spot in the November ‘Top of the Props’ chart published by TheMoveChannel.com.
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Fitch places Cyprus on rating watch negative

Credit ratings agency Fitch has placed Belgium, Spain, Slovenia, Italy, Ireland and Cyprus on rating watch negative as it believes that a 'comprehensive solution' to the Eurozone crisis is technically and politically beyond reach.
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UK tax axe falls on overseas property investors

HM Revenue & Customs has set up a team of investigators to track down UK-based individuals who are letting out property in Cyprus and other countries without declaring its rental income.
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Construction investment decline continues

Investment in the Island's construction sector is continuing to decline according to figures published earlier today by the Cyprus Statistical Service, which reveal a 13.3 percent fall in the number of building permits issued over the first nine months of this year compared with last.
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Governor warns Cyprus is at the edge of the precipice

The Governor of the Island's Central Bank has warned that Cyprus is at the edge of the precipice and has called on the government and parliament to work together to overcome opposition from the unions to proposed austerity measures.
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Property prices will continue to fall says bank chief

Cyprus bank executives see a further deterioration in the Island's economic conditions next year that they consider will further reduce liquidity, increase the cost of borrowing, and put further downward pressure on property prices.
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Overseas investors taking more interest in Cyprus

After some months after being out of the top ten countries for overseas property investors, Cyprus is back in at the number seven spot in the October 'Top of the Props' chart published by TheMoveChannel.com.
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Moody’s downgrades Marfin Bank covered bonds

Ratings agency Moody's Investor Services has downgraded Marfin Popular Bank covered bonds and put the Bank of Cyprus covered bonds on review for downgrade. The actions follow Moody's downgrade of Cyprus' sovereign debt rating last week.
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Cyprus’ top three banks downgraded by Moody’s

Moody's Investors Services has downgraded the long-term deposit and debt ratings of the three largest Cypriot banks because of what it believes is the reduced ability of the country to support its large banking system.
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