58th anniversary of Hungarian revolution

58th anniversary of Hungarian revolution

The state flag is hoisted by Hungarian honour guards during an official celebration of the national holiday marking the 58th anniversary of the outbreak of the Hungarian revolution and war of independence against communist rule and the Soviet Union in 1956 in front of the Parliament building in Budapest, Hungary, 23 October 2014

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Local News October 23, 2014

Public service union eyes bank’s sports club

Public service union eyes bank’s sports club

By Angelos Anastasiou

Civil servants’ union PASYDY has its eye on Bank of Cyprus’ sporting club in Latsia, Nicosia, and is allegedly offering €10 million to acquire it, local daily Phileleftheros reported on Thursday.

According to the paper, the Land Registry has valued the property at €8 million, but two independent private valuers said it was worth over €10 million.

The union’s leadership recently met with the lender’s chairman, Christis Hassapis, in order to express interest in the sports complex.

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International News October 23, 2014

US-led air strikes killed 521 fighters, 32 civilians in Syria

US-led air strikes killed 521 fighters, 32 civilians in Syria

By Oliver Holme

Air strikes by US-led forces have killed 521 Islamist fighters and 32 civilians during a month-long campaign in Syria, a monitoring group which tracks the violence said on Thursday.

The Britain-based Syrian Observatory for Human Rights said the vast majority of the deaths, 464, were militants from Islamic State, an al Qaeda offshoot which has grabbed large areas of Syria and neighbouring Iraq.

The attacks also killed 57 members of the al Qaeda-affiliated Nusra Front, the Observatory…

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International News October 23, 2014

Russian prosecutors detain more suspects in Total CEO plane crash

Russian prosecutors detain more suspects in Total CEO plane crash

By Katya Golubkova and Maria Tsvetkova

Russian prosecutors detained four Moscow airport workers and denied bail to the driver of a snow plough which hit a private jet killing the CEO of French oil company Total earlier this week, officials said on Thursday.

Russia’s investigative committee has moved quickly to detain those it says might be responsible for the crash, which killed Christophe de Margerie in a tragedy which has done little to improve Russia’s reputation for poor air safety.

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Local News October 23, 2014

Artist Glyn Hughes dies aged 83

Artist Glyn Hughes dies aged 83

Renowned Cyprus-based artist Glyn Hughes has died aged 83. Hughes died of a heart attack in Limassol hospital on Thursday.

Hughes came to Cyprus in 1956 and first worked at the Junior School from then until to the early ’90s, and taught countless children the wonders of light and colour in art. The children returned the favour – according to Hughes, it was not until he started teaching them that he learned a valuable lesson himself.

He said in an…

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International News October 23, 2014

Hong Kong protesters set for the long haul at self-sustaining village

Hong Kong protesters set for the long haul at self-sustaining village

By Farah Master

Hong Kong protesters have created a self-sustaining village within a month of taking their call for democracy to the streets, setting up changing rooms, tents for hire, a study area, first-aid stations and even their own security patrols as they ready for the long haul.

What started out as hastily built barricades against police pepper spray and tear gas, relying mainly on cling film and umbrellas, has evolved into a fully fledged campus with carpeted stairs, water…

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International News October 23, 2014

Bomb blast kills five at bus station in north Nigeria

Bomb blast kills five at bus station in north Nigeria

By Tim Cocks

A bomb exploded at a bus station in northern Nigeria’s Bauchi state late on Wednesday, killing at least five people and wounding 12, police said.

The blast, which struck the town of Azare, is likely to be blamed on Islamist Boko Haram militants, casting further doubt on government reports that it had reached a temporary ceasefire with the rebels in order to secure the release of more than 200 schoolgirls they are holding hostage.

Police did not…

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Local News October 23, 2014

Bodies of missing airmen recovered – reports (Update)

Bodies of missing airmen recovered – reports (Update)

By Evie Andreou

The bodies of the two men on board of the twin-prop Diamond DA42 training plane that went missing on Wednesday night en route to Beirut from Cyprus were found at sea reports said on Thursday.

On board the aircraft, which disappeared from the Nicosia flight information region (FIR) some 80 kilometres south east of Larnaca were two men, Cypriot Avgoustinos Avgousti and Lebanese George Obagi.

The aircraft’s debris was spotted last night floating at sea by a…

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Local News October 23, 2014

Samaras to represent Anastasiades at EU Council (Update)

Samaras to represent Anastasiades at EU Council (Update)

Greek Prime Minister Antonis Samaras will be representing President Anastasiades at the European Council and EPP sessions, where he will present the positions of the Republic of Cyprus.

In a written statement, Government Spokesman Nicos Christodoulides said Samaras visited the President earlier on Thursday at his hotel in Brussels, and wished him a speedy recovery.

Anastasiades was was taken to a hospital in Brussels on Thursday after suffering prolonged nosebleeds. He was treated and returned to his hotel.

According to…

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Local News October 23, 2014

UN chief optimistic about Cyprus settlement

UN chief optimistic about Cyprus settlement

UN Secretary General Ban Ki-moon is optimistic that the objective for a comprehensive settlement of the Cyprus problem can be achieved, provided that the current political will of the leaders and of their respective communities prevails and that there is continuing support from the international community.

In a report of the UN General Assembly on the organisation`s special missions, including Cyprus, dated September 4 and circulated on October 22, the UN Secretary General notes that, `following an intensive period of…

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International News October 23, 2014

Eight Pakistani Shi’ites killed in sectarian attack

Eight Pakistani Shi’ites killed in sectarian attack

By Gul Yousafzai

Eight Shi’ite members of Pakistan’s ethnic Hazara minority were killed and one wounded on Thursday, when gunmen opened fire on a bus in the volatile province of Baluchistan, police said.

No one immediately claimed responsibility. Lashkar-e-Jhangvi, a radical Sunni militant group, has carried out many gun and bomb attacks on Hazaras in the past.

The men were returning from a vegetable market when gunmen intercepted the bus.

“Two gunmen boarded the bus and shot the men,” police…

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International News October 23, 2014

PM Harper says attacks will not intimidate Canada

PM Harper says attacks will not intimidate Canada

By Leah Schnurr and Randall Palmer

Canada will not be intimidated by a pair of attacks that killed two soldiers this week, Prime Minister Stephen Harper said on Wednesday, adding that security agencies would do everything needed to counter threats to the country.

“Let there be no misunderstanding. We will not be intimidated. Canada will never be intimidated,” Harper said in a brief address to the nation.

“In fact, this will lead us to strengthen our resolve and redouble our…

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Football Sport October 23, 2014

Apollon face tough test in Germany under new boss

Apollon face tough test in Germany under new boss

By Andreas Vou

AFTER what has been a hectic few weeks for the club, Apollon will be eager to get back in action on Thursday when they take on Borussia Monchengladbach on Matchday 3 of the Europa League (10.05pm).

Despite a hugely successful last two seasons which have seen Apollon lift the Cyprus Cup as well as reaching the groups stages of the Europa League two years running, the board of the Limassol club opted to part ways with manager…

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Local News October 23, 2014

IMF: Cyprus needs to redouble efforts

IMF: Cyprus needs to redouble efforts

By Jean Christou

CYPRUS needs to redouble its efforts to put its adjustment programme back on track after derailment by “heightened political opposition, entrenched vested interests, and reform fatigue”, which were taking a toll, the International Monetary Fund (IMF) said yesterday.

“The authorities need to redouble their efforts to achieve a durable economic recovery and an eventual exit from official financing,” the IMF said in a Staff Report at the end of discussions with Cypriot officials on an Article…

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Local News Comment October 23, 2014

Our View: Measures against Turkey will have little, if any, effect

Our View: Measures against Turkey will have little, if any, effect

EIGHT measures will be taken to counter the violations of the Cyprus EEZ by Turkey’s ships. These were decided at a two-day National Council meeting, in what the government spokesman described as a “spirit of complete consensus,” and were not very different from those decided a couple of weeks earlier. This time there was no talk of the need for the president to meet President Putin as he had already done a few days ago, during an official dinner in…

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Local News October 23, 2014

Foreclosures reform ‘critical’

Foreclosures reform ‘critical’

By Jean Christou

OF all the obstacles to putting the economy back on track, the IMF yesterday honed in on the banks’ non-performing loans (NPLs), citing the urgency for Cyprus to implement a foreclosures framework.

“The recovery of the Cypriot banking sector now hinges primarily on the successful and sustainable resolution of NPLs,” the IMF said in the Staff Supplement to its report. “Uncertainties related to NPLs also contribute to high funding costs, which translate into lending rates that…

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Local News October 23, 2014

Key changes needed in public service wage reform

Key changes needed in public service wage reform

By Jean Christou

DESPITE the significant reduction in public service wages, Cyprus’ compensation of government employees remains among the highest in the EU, the International Monetary Fund (IMF) said yesterday.

Even after wage cuts of 9–15 per cent and a 3 per cent decline in central government employment, compensation of public employees as a share of GDP is the fourth largest in the EU, it said.

And, on the basis of current projections, the compensation is expected to…

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Local News October 23, 2014

Cabinet tasks project team to enforce insolvency law

Cabinet tasks project team to enforce insolvency law

By Elias Hazou

THE Cabinet yesterday green-lighted the establishment of a project team tasked with implementing new insolvency procedures.

According to a statement, the team will comprise of at least three officers from the Department of Companies and Official Receiver, as well as the finance ministry, which is the project manager.

Where necessary, the team will work and liaise with the public administration and personnel department, the ministry of labour and social insurance, the ministry of the interior and the…

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Local News Business October 23, 2014

30 companies owe €100m in VAT

30 companies owe €100m in VAT

By Elias Hazou

AS MANY as 30 companies owe the state about €100m in VAT, according to data revealed by Politis yesterday.

Of the 30 legal entities, two of them (or their directors) cannot be traced, while criminal prosecutions are pending against another seven.

The data was prepared by tax authorities and handed to parliament at the latter’s request. The list of 30 largest corporate debtors includes investment companies, contractors, developers, banks, trading companies and football clubs. The tax data…

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Local News October 23, 2014

A third of public tenders failed on poor data

A third of public tenders failed on poor data

By George Psyllides

SOME 30 per cent of public tenders have been cancelled because the conditions were not clear, a senior official said yesterday, highlighting the need for more clarity in the provisions.

The head of the tender review board Efi Papadopoulou told MPs that conditions had to become clearer to avoid cancellations.

“The clearer the conditions of a competition, the more remote the possibility of cancellation,” Papadopoulou said.

House Finance Committee Chairman Nicolas Papadopoulos said the review board had…

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Local News Business October 23, 2014

Hoteliers confident about winter season

Hoteliers confident about winter season

IT seems that things are looking up for the island’s winter tourism as more inbound flights have been scheduled for the winter, the hoteliers’ association PASYXE said yesterday.

According to the association, this is a development that will substantially contribute to the efforts to extend the summer season.

PASYXE chairman, Haris Loizides, said that at the moment no one can predict the number of reserved seats and that it is something that remains to be seen along the way.

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