"We Love Cyprus" Documentary Released!

Aiming to support Cyprus, 35 people and artists from the United States of America, have united their voices to send a message of love, hope and support towards the beautiful island.

This documentary will bring you onto a "colorful" trip with big and brave voices that together, as one, say "We Love Cyprus"

The documentary desires to reinforce any type of contribution to the "Εθελοντές Γιατροί Κύπρος - Ιατρεία Αλληλεγγύης" (Cypriot Volunteer Doctors), a non-profit and non-governmental organisation expanding all over the world established back in 1994. 

Watch the video below and say "We Love Cyprus" with us!

The European Austerity Poem

As a historical European economic crisis unfolds before our very eyes and we see a shift of real power move to Asia, here is a fitting poem that I wrote to capture the light side of this new sickening reality:

Who will tell the Greeks they will have to go Bust?
It seems that the euro is no longer a Must!
It's the EU austerity answer to the economic disaster,
Tax more of the same and cut everything that we Trust.
The emotionally complex Italians are beginning to Shrink?
And who will inform the Swiss they are no longer in Sync?
Regardless of grandiose desires it now bitterly transpires,
That the once ice cool will soon fade, melt or Sink!
There's nothing like the sound of the shallow jumping in at the Deep!
As the countries on the edge are beginning to Weep!
Seeking a Political womb or Troika counseling room,
In the end we will all contribute more than they get to Keep!
Who will advise the non-elected EU commissions they were never in Demand?
And that the power of the vote should be the only Command,
Highly creative expenses and commissions that are senseless,
Yet the public never showed the guts or the stomach to Stand.
German collude with northern friends as the voice of Big Brother,
Preaching to the sick, mortally ill and the multiple Other.
Will the British get to escape the European economical rape,
For sure they will nag just like an old Colonial Mother.
So how will the mighty Europe eventually End?
Perhaps begging to the Chinese with an extended Bend!
The concept of bail-out is no longer a lingering doubt,
It boils down to the message they will finally fudge to Send.

Two Cypriots join International Programme

Two Cypriots have been selected to take part in a two-year art historical and archaeological programme being organised by the School of Oriental and African Studies (SOAS) at the University of London.

Dr Michalis Olympios, of the University of Cyprus, and Anthi Andronikou, who is currently studying in Scotland at the University of St Andrews, will be taking part in the programme.

They will join a group of fourteen other participants, including leading academics from around the world in visiting research centres in Greece, Israel, Jordan and Turkey to examine the art historical and archaeological evidence for co-operation between different ethnic and religious groups in the Middle Ages.

Art of the Crusades: A Re-Evaliation is a research project led by Professor Scott Redord of SOAS that will examine at the mediaeval period in the eastern Mediterranean to look for the connections between Byzantine, Crusader, Muslim Arab, Muslim Turkish and Judaic culture in the period.

In a radical departure from traditional ways of looking at this period, those taking part in the programme will look for evidence of how different groups of people lived together and influenced each other.

The programme is funded by the Getty Foundation as part of its Communicating Art Histories Programme.

Source: in-cyprus

Property prices in Nicosia and Larnaca are down in 2Q

Property prices were down 0.4% for apartments and 0.3% for homes in the second quarter, according to the latest index produced by RICS Cyprus. The areas that saw the biggest quarterly drops were Nicosia and Larnaca.

The 23rd edition of the RICS Cyprus quarterly Property Price Index said that the biggest drop was in Larnaca (-1.2% for flats and -3% for houses). An increase of 0.6% for house prices was recorded in Nicosia, while the values of retail properties fell by an average 0.1%, offices by 1.4%, and warehouses by 2.4%, the survey said.

Despite the Cyprus economy showing some signs of stability, compared to 2Q 2014 prices dropped by 2.6% for apartments, 2.3% for houses, 5.5% for retail, 1.4% for office, and 2.4% for warehouses.
Across Cyprus, quarterly rental values decreased by 0.3% for apartments, 2% for houses, 1.1% for offices, 2.1% for retail units and 1.4% for warehouses.

Year-on-year, rents dropped by 3.0% for flats, 2.9% for houses, 6% for retail, 2.8% for warehouses, and 3.6% for offices.

The majority of asset classes and geographies continue to be affected, with areas that had dropped the most early on in the property cycle now nearing or at the bottom, with Paphos and Famagusta showing some signs of price stability, the RICS report said.

At the end of the second quarter, average gross yields stood at 3.8% for apartments, 1.9% for houses, 5.2% for retail, 4.3% for warehouses, and 4.4% for offices. The parallel reduction in capital values and rents is keeping investment yields relatively stable and at low levels (compared to yields overseas). This suggests that there is still room for some re-pricing, with the economy performing better than expected and tourism mildly outperforming forecasts.

Unemployment remained at a historical high level, stabilised at 16%, and discussions were ongoing regarding privatisations of state-owned enterprises, foreclosures and the turbulence in banking system.

There were few transactions during the quarter although volume was higher on a year-on-year basis. Local buyers in particular were the most discerning as the increase in unemployment and the prospects of the local economy maintained the lack of interest. Furthermore, those interested are still having trouble to access bank-finance.

The Property Price Index has recorded falls in most towns and asset classes, with significant falls recorded in Nicosia and Larnaca. Nicosia is clearly feeling the impact on the government and banking sector (the two sectors that dominate the local employment market), whilst Paphos and Famagusta are progressively bottoming out.

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