Cyprus at number seven in Top of the Props

The popularity of Cyprus as a destination for overseas property investment has increased according to the July Top of the Props chart published by themovechannel.com and a second survey published by homesoverseas.com

CYPRUS has moved up three places from number 10 to number 7 in the July 2009 Top of the Props chart published by themovechannel.com

The most popular investment destination for British overseas property buyers was the USA, which pushed last month’s number 1, Spain, into second place. These were followed by France and Portugal, in third and fourth places.

Turkey sneaked into fifth place, followed by Italy and Cyprus at six and seven. Rounding off July’s Top of the Props chart was Bulgaria in eighth place, followed by the UAE. Egypt took the final place in the lineup, coming in tenth.

IN A SEPARATE survey, Cyprus has moved up one place to number 8.

Property in Spain has replaced property in Portugal, as the most searched for destination to buy a home abroad based on country page views, and property views, on their website over the past month.

Elsewhere, Greece property has risen from fourth to third, Italy property has fallen a position to fourth, French property is up a place to fifth, Turkey property is down a place to sixth, USA property has gone up from eighth to seventh, Cyprus property is up a place to eighth, Thailand property is down from seventh to ninth, while Egypt property retains tenth spot.

Source: Cyprus Property Buyers

Cyprus has historic chance to heal the division

The European Commission urged estranged Cypriots Thursday to seize a "historic chance" to reunite their island, split by a conflict spanning decades and troubling Turkey's bid to join the EU.

"The time is now. Do not allow a situation where the younger generation will simply accept the status quo," EU Commission President Jose Manuel Barroso said.

"There is a historic chance now to end this conflict once and for all," he told journalists on a whistle-stop visit to the island, a member of the European Union since 2004.

Cyprus, divided between its ethnic Greek and Turkish Cypriot communities, is a key obstacle in Turkey's chances of joining the European Union.

The Mediterranean island was effectively partitioned in a Turkish invasion in 1974 in response to a brief Greek-inspired coup. Its government-controlled south represents Cyprus in the EU, with the north a breakaway Turkish Cypriot state recognized only by Ankara.

Cyprus's internationally recognized Greek Cypriots say they will never allow Turkey to join the bloc as long as the island is partitioned. Ankara's EU membership talks, which started in October 2005, have been partially frozen because of the situation on the island.

Turkey's progress in membership talks will be assessed later this year.

Greek and Turkish Cypriot community leaders launched peace talks last year, but progress has been slow.

Barroso said the EU Commission was ready to help and support a deal on Cyprus, but said: "We cannot make the deal...it is up to the Cypriots themselves to find a solution.

Cyprus has said it will support Barroso's re-election bid for a second five-year term for the EU Commission presidency.

Source:Reuters

Cyprus To Have Highest Growth Rate In Europe

Minister of Finance Charilaos Stavrakis said on Friday that Cyprus is expected to have the highest and only positive growth rate in Europe in the year 2009. Commenting the latest projections of the International Monetary Fund (IMF) that Cyprus' growth rate is expected to be 0.3% in the year 2009, Stavrakis said that according to calculations of the Ministry aduring the first quarter of 2009 Cyprus' growth rate will be ''quite satisfactory and close to 2%.''

He furthermore said that ''2010 will be a difficult year'' and assured that the government would be making sure to deal with current financial conditions in order to minimise the cost on the taxpayers and the economy in the years to come.

Speaking after a meeting at the Ministry to brief the private sector on the initialing of an agreement between Cyprus and Russia for the avoidance of double taxation and to discuss the action plan for 2009 for attracting foreign investments, Stavrakis said it was positive that, according to IMF figures, ''Cyprus is expected to have the best performance in the whole of Europe.''

This reaffirms the government's position that the fiscal policy it has been following is the right one, which secures the highest possible growth rate in very adverse external conditions,'' he added. Asked if the slower growth rate increases the state's costs, Stavrakis said ''it creates upward pressure on unemployment and possibly a great deterioration of public finances.''

'This is why we are handling public finances in a very conservative and cautious manner, in an effort to restrict ourselves to focused expenditure,'' he added. Stavrakis said ''2010 will be a difficult year and thus we need to maintain several fiscal ammunition in order to support the real economy,'' adding that ''any expenditure that is not a dire necessity at this moment to support the economy is expenditure that the taxpayer and the citizens will bear in the coming years.''

Source: Financial Mirror

Cyprus Industrial Turnover Up 8.7% In December 2008

Industrial turnover was strong in December according to the latest figures from the Statistical Service. The industrial turnover index reached 165.7 (base 2000=100), recording an increase of 8.7% compared with December 2007. Industrial production in the same period rose by only 1.9%, however.

For the period January-December 2008 turnover rose by 12.8% compared to the same period of the previous year, while production rose by 2.6%. The index comprises mining and quarrying, manufacturing, electricity, gas and water supply. For manufacturing, the index for December 2008 reached 158.1, recording an increase of 5.3% compared with December 2007.

Source: Financial Mirror

Etihad will fly from Abu Dhabi to Larnaca in Cyprus from June

Good news for travellers, Etihad will be flying to Cyprus three days a week from June.

James Hogan, Etihad Airways’ chief executive, said: “The launch of flights to Larnaca illustrates Etihad’s ambitions to strengthen our European network and we anticipate strong demand for flights which will help open up new commercial and cultural ties between the UAE and Cyprus.”

He added: “The new route also offers excellent connecting opportunities in Abu Dhabi, helping to link Larnaca with Cypriot communities worldwide and our new service this month to Melbourne will benefit greatly with the start-up in June of flights from Cyprus.”

The flights, scheduled to for Wednesday, Friday and Sunday, will also appeal to the UAE community who will be able to visit the attractive island for short weekend breaks.

Source: Time Out Dubai 2 March 2009