An online e-auction platform was launched by a subsidiary of the Cyprus Banks Association in an attempt to boost the sale of foreclosed properties that have mounted up.

Limassol has presented its candidacy to become the European City of Sport 2020 with officials saying it has a good chance of being selected.

Cyprus’ budget, along with those of Germany, Ireland, Greece, Lithuania, Luxembourg, Malta, the Netherlands and Austria were found to be compliant with the Stability and Growth Pact in 2020, according to the European Commission assessment, published recently in Brussels.

The publication concerns individuals and companies interested in developing, investing, purchasing or putting real estate up for rental or sale.

Greek oil company Energean said recently it has formally applied to Cypriot authorities to pipe natural gas to the island, adding that the gas could flow as early as 2021.

The Cypriot game developer company, Nexters Global Ltd, lists, for the first time in history, in the 10th place of top earning applications among European mobile developers, according to the rating of the international analytical service, Datamagic.

EY Cyprus is pleased to announce a new interactive seminar on the VAT aspects of Immovable Property, titled “VAT on Property Awareness Drilling: Buildings – Land Sale/Lease & Management (including online property promotion)”.

An application has been been submitted for three high-rise buildings – of nine, eight and six floors – in Peyia, next to the Coral Beach Hotel, and for an additional floor to the existing hotel, according to press reports.

Tourist arrivals in October 2019 rose an annual 0.7% to total 436,509 — a new record for the month — the Cyprus Statistical Service said recently citing the results of the Passengers Survey.

DBRS Morningstar has confirmed Cyprus’ Long-Term Foreign and Local Currency – Issuer Ratings at BBB (low) and changed the trend to ‘positive’ from ‘stable’ as the outlook for the downward trajectory in the public debt ratio has improved, driven by sustained robust economic growth, large primary surpluses and early debt repayments.