According to the Cyprus News Agency an agreement between Cyprus and Egypt on a direct subsea natural gas pipeline between the two countries was ratified on Friday 12.04.2019 by the plenary of the House of Representatives. The bilateral agreement was signed in Nicosia on September 19, 2018 at the presidential palace by Energy Minister Yiorgos Lakkotrypis […]
Continue ReadingMoody’s Investors Service commented on February 20th, 2017 that Cypriot banks would benefit from a sustainable recovery in the Cyprus property market. The comment followed a release by the Central Bank of Cyprus showing a rise in the Cyprus Property Index, the first rise in seven years. According to the agency, the recovery of property […]
Continue ReadingOn February 2nd, 2017, Moody’s Investors Service issued a Credit Outlook highlighting the increase in the deposits held by Cypriot Banks during 2016. According to the agency, this has a detrimental role in the overall improvement of the banks’ funding structure which in turn is a definite credit positive for the Cyprus economy. Quoting Moody’s: […]
Continue ReadingStandard and Poor’s upgraded its assesment of Cyprus by one notch to BB on Friday, with the rating agency saying the outlook was “positive”. In a statement, it said that it “has raised its foreign and local currency long-term sovereign credit ratings on the Republic of Cyprus to ‘BB’ from ‘BB-’.” At the same time […]
Continue ReadingAccording to data from the Registrar of Companies, the number of applications for new company registration increased in July to 1,287, compared to 1,079 last July, an increase of 19.3%. Of the last 28 months, 22 saw an increase in applications for new registrations, Financial Mirror reports. Compared to June, the number of applications in […]
Continue ReadingMoody’s has changed the outlook of the Cypriot Banking sector to positive from stable according to a release made by the rating agency on August 1st, 2016. A more detailed analysis will be published shortly in our publication section.
Continue ReadingOn July 14th 2016 a plenary session of the Cyprus parliament approved the “Land and Surveys Department (Fees and Rights),-Amendment No 2- Law” according to which there is a 50% reduction in Property Transfer Fees. Currently the fees are as follows: 3% of the first €85,000 of the property value 5% of the next €85,000 and 8% of […]
Continue ReadingCyprus has further expanded its already wide network of Double TAX Treaties, by announcing on July 11th a new DTT agreement with Jersey (a Crown dependency of the United Kingdom located between England and France). The agreement which have been negotiated since early 2013, will come into force once all necessary parliamentary procedures in both […]
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