Record decrease of Turkish Lira was reached during recent days. Latest currency exchange rates have reached the following values: 1GBP – 3.21TL; 1 Euro – 2.69TL, and 1 US dollar – 2.05TL. Some economists unite in opinion that record decrease of the TL is the result of recent measures taken by US and Great Britain. The devaluation of the TL is causing financial harm to local residents that have taken loans in foreign currencies. According to Jim Rogers, an expert in the financial and investment fields, there is no specific reason for the fall of the Turkish Lira, and the currency will resume its place in the market. Foreign nationals and tourists that are spending these last months in Northern Cyprus are finding themselves in fortunate position, as they are changing foreign currency to Turkish Lira at higher rates.
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Increased Risk of a Major Earthquake in Cyprus
The Earthquake Research and Application Center (DAUM) at Eastern Mediterranean University (EMU) has issued a critical assessment regarding recent seismic activities in Cyprus and its surroundings. According to DAUM, tectonic movements in the region point to an increased likelihood of a significant earthquake affecting the island.DECREE WITH THE FORCE OF LAW ON THE REGULATION OF THE STATUS OF EXISTING SALES CONTRACTS
DECREE WITH THE FORCE OF LAW ON THE REGULATION OF THE STATUS OF EXISTING SALES CONTRACTS UNDER THE TEMPORARY ARTICLE 1 OF THE LAW ON ACQUISITION OF IMMOVABLE PROPERTY AND LONG-TERM LEASING (FOREIGNERS) (AMENDMENT)Municipalities fine vehicle owners for dumping rubbish
The City Safety Department (Zabita) within the municipalities initiated the necessary penalties against vehicle owners who were found dumping waste into the environment without permission.Northern Cyprus Laws - Will the TRNC Government Be Able to Win Back the Trust of Foreigners?
Northern Cyprus Laws - Will the TRNC Government Be Able to Win Back the Trust of Foreigners?
