Local News

Local News December 19, 2014

Bakery robbers wanted

Bakery robbers wanted

POLICE are trying to locate two men who stole €500 in an armed robbery from a bakery in Paphos, early Friday.

According to reports, the two men with their faces covered, entered the bakery on Eleftherios Venizelos Avenue at just after midnight. One of them pointed a gun at the two female employees and demanded the money in the cash register.

The two employees told the police that the perpetrators had a Cypriot accent and that
they were in…

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Local News Football Sport December 19, 2014

‘Cyprus footie just stinks’, says watchdog

‘Cyprus footie just stinks’, says watchdog

By Constantinos Psillides

CYPRUS is one of the worst countries in Europe when it comes to match-fixing, European watchdog Federbet General Secretary Francesco Baranca said on Friday, wanting to speak to whistleblower referee Marios Panayi on his allegations regarding match fixing in the country’s top league.

Baranca told the Cyprus Mail that Federbet had kept a close eye on Cyprus matches for some time.

“We are closely monitoring the situation on the island because of the many irregularities when it…

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Local News Business December 19, 2014

‘Not enough gas’ in Onasagoras

‘Not enough gas’ in Onasagoras

By George Psyllides

ENI-KOGAS has not found enough commercially exploitable natural gas reserves in its first exploratory drill at the offshore Onasagoras field, the energy ministry said on Friday.

According to an official announcement, the joint venture will complete drilling within the next few days and move on to the Amathusa field, also located in bloc 9 of the Cyprus exclusive economic zone.

“Drillship Sapiem 10000 will continue as normal, the exploration programme that started last September,” the ministry said.

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Local News Business December 19, 2014

IMF freezes funds, troika mission uncertain, Georgiades lashes at opposition (updated)

IMF freezes funds, troika mission uncertain, Georgiades lashes at opposition (updated)

By Stelios Orphanides

The troika may delay its next mission to Cyprus scheduled for January 27, to evaluate Cyprus’s progress in implementing its economic and financial reform programme following yesterday’s parliament vote, the Cyprus News Agency reported citing an unnamed troika official.

Earlier, the International Monetary Fund, which together with the European Commission and the European Central Bank comprises the troika that supervises bailouts in the euro area, said it will not release the next tranche of bailout money earmarked…

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Local News December 19, 2014

Declare financial interests, MPs urged

Declare financial interests, MPs urged

TRANSPARENCY Cyprus, a chapter of Transparency International, has invited Cypriot MPs to voluntarily submit a declaration of their financial interests in line with the code of ethics of the European Parliament.

The invitation came in the wake of a big debate over what constitutes incompatible offices and conflict of interest after it emerged that the Central Governor’s daughter was employed at her former husband’s law firm, which represents ex-Laiki Bank’s strongman Andreas Vgenopoulos, indicating a possible conflict of interest.

There…

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Local News December 19, 2014

Most Paphos properties sold to foreigners

Most Paphos properties sold to foreigners

PAPHOS SOLD the most properties to foreigners during the period from 2010 to mid-2014 across Cyprus, a report by Cyprus Economic Intelligence said on Friday.

According to the report, from 2010 to mid-2014, 156 residences valued at over €1 million were sold, but none were luxury flats as foreign buyers went after detached houses on the beachfront – or at least offering sea views.

But in 2013 and 2014, a declining sales trend was observed.

In 2013, the report said,…

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Local News Business December 19, 2014

Third Point, Wargaming increase Hellenic share

Third Point, Wargaming increase Hellenic share

CPB FBO Third Point Hellenic Recovery Fund LP and Wargaming Plc Ltd said they increased their respective stakes in Hellenic Bank Public Company Ltd from 20.32 per cent and 21.04 per cent to 26.98 per cent and 26.46 per cent.

The two shareholders that participated in the lender’s capital increase through a rights issue, were commenting in separate statements at the Cyprus Stock Exchange.

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Local News December 19, 2014

Cattlers’ association fined for price fixing (updated)

Cattlers’ association fined for price fixing (updated)

By Angelos Anastasiou

THE COMPETITION watchdog (EPA) has slapped the cattlers’ association (POA) with fines totalling €2.1 million for price-fixing and other irregularities.

The fines have to be paid within six months.

According to EPA’s statement, after reviewing and evaluating all available evidence, the competition protection body unanimously found the association in breach of three articles of competition law.

In a statement issued later on Friday, POA said it will appeal the decision. The organisation said it had countered all…

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Local News December 19, 2014

Limassol flat robbed

Limassol flat robbed

CASH, electronics and jewellery worth more than €49,000 were reported stolen form the Limassol apartment of a woman from Russia on Thursday morning.

According to the police, the woman reported that €2770 was stolen in cash along with various items including mobile phones, watches and jewellery worth €46,320 from her fourth floor apartment in Yermasogia.

Police said that the stolen goods were not insured and that the burglars used special equipment to remove the apartment’s front door lock.

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