Non-performing loans (NPLs) rose for a second consecutive month in May amounting to €8.05 billion with non-performing exposures (NPEs) dropping by €11 million to €10.13 billion, or some 30.8% of total loans.
Property sales in Cyprus improved for the second consecutive month in April with the total number of contracts of sale deposited at Land Registry offices up 9 percent compared to April 2013.
The Bank of Cyprus Group Financial Results for the nine months ended 30 September 2013 published earlier today show a net loss of €1.947 billion net loss over the reporting period.
Warren Buffet's quote "You can't produce a baby in one month by getting nine women pregnant" is an excellent metaphor of what Cyprus needs most; patience. Pavlos Loizou explains.
The one year transition period provided for in the limitation law that Cyprus introduced in 2012 has been extended by six months following an agreement reached by parliament earlier this week.
It seems incredible that the Island's government could be going cap in hand to the EU for a bailout before the end of the month, when just a few years ago it told us that we were immune from the world's economic woes.
The number of properties bought and sold in November hit a 35 month low according to the latest figures from the Department of Lands and Surveys amid the worsening economic situation, record levels of unemployment and lack of liquidity.
Property sales in Cyprus fell for the ninth consecutive month during March and recorded the largest fall over the past 15 months, heightening fears that the crisis in the real estate sector may be worsening.
