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EIU

end

concurs:

The Economist Intelligence Unit (EIU) has also predicted there will be no devaluation. In its report, the EIU says the reason why many Britons feel the CYP is overvalued is because of their own currency’s swings against the euro.

Accountants, lawyers and professional groups are up in arms over the vacuum created at Company House, after the Supreme Court overturned the appointment of Spyros Kokkinos as the Registrar of Companies and Official Receiver following Maria Kyriacou’s resignation when she was elected to parliament. The delay was costing millions in lost revenue and Cypriot lawyers are registering companies in Malta. State revenues reached CYP 15.86 mln (EUR 27.3 mln) last year from CYP 11.02 mln (EUR 18.9 mln) in 2005. There are 155,000 companies registered to date, with 20,000 new registrations in 2006 alone. After monthly falls towards the prices resumed their climb in

Company House chaos:

House prices up:

of 2006, house January, according to the BuySell Home Price Index, up 2.6% in January. The average home price was CYP 93,288 (EUR 161,091).

Tough

tourism:

Hoteliers predict a tough tourism season in 2007. Despite a 5% increase in world tourism to 840 mln people in 2006, Cyprus had missed the global trend and saw a decline in arrivals with a slow trend of bookings for the current season.

The special Golf Court Committee has granted five licenses: one to Shacolas Group (Polis Chrysochous), two to Aristo Developers (Ha Potami) and two licenses to Lanitis development (Fassouri, Petra tou Romiou).

Golf licenses: