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th-01102009Cyprus technically fell into a recession in the second quarter of 2009, on a slowdown in construction activity and tourism with official estimates of a 0.5 percent contraction in GDP this year, after growth of 3.7 percent in 2008.

Property developers and real estate agents sold more than 5,600 properties to foreigners during the first nine months of 2008, but sold a mere 1,363 during the first nine months of 2009.

The districts of Cyprus suffering most from the drop in foreign demand are Larnaca, where property sales are down 83%, and Limassol, where sales have fallen by 79%. The area least hit by the fall is Nicosia, but even there sales to non-Cypriots have dropped by 54%.

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Did you know?

that Confucius about 2,500 years ago argued that the government should not compete for profit with the people, as it would only result to the exploitation of the population?

that Pytheas the ancient Greek explorer, mathematician, astronomer and navigator must have travelled to the American continent at the time of Alexander the Great?

that Pytheas through its Soil Water + Life Solutions is probably the only entity world wide that can provide a-no-chimney-no-landfill-solution for the treatment of municipal solid and liquid waste?

that Pytheas has presence in 41 countries?

that the Boeotian Hesiod about 3000 years ago theorized on the entrepreneurship typical of the market (an early laissez-faire), identifying the effects of government debasement of the coinage, which causes a decrease in its purchasing power (think Adam Smith, Keynes and post Keynes), arguing about the importance of competition and the importance of justice and the law in order to foster order and harmony in society?

that in a lifetime the average European or North American will discard more than 600 times his or her adult weight in garbage and about a ton of trash per person per year?

that 1 recycled tin would save enough energy to power a television for 3 hours; 1 recycled glass bottle would save enough energy to power a computer for 25 minutes; 1 recycled plastic bottle would save enough energy to power a 60-watt light bulb for 3 hours?

that recycling 1 ton of paper saves 17 mature trees, 7,000 gallons of water, 3 cubic yards of landfill space, 2 barrels of oil, and 4000 kilowatt hours of electricity; this is enough energy to power the average North American home for 5 months?

that annually, the amount of garbage that is dumped in the world’s oceans is three times the weight of fish that is caught from the oceans?

that every year, Americans buy more than 100 million cell phones, yet fewer than 20% of old cell phones are recycled and that recycling just a million cell phones reduces greenhouse gas emissions equal to removing 1,368 cars off the road for a full year?

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