Local News

Local News Business October 31, 2014

Building a regional alliance for stability

The co-operation between Cyprus, Greece, and Egypt aims to bring stability in a volatile area and to allow everyone to reap the benefits of the natural wealth, President Nicos Anastasiades said.

The effort “is to create conditions of co-operation between neighbouring countries in an area characterised by instability,” Anastasiades said in an interview with state broadcaster CyBC.

The three countries are working to forge closer ties in various areas, including energy, economy, and tourism.

A summit is scheduled to take…

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Building a regional alliance for stability
Local News Business October 31, 2014

Supreme Court to deliver verdict on foreclosures

The island’s Supreme Court will on Friday deliver its verdict on the legitimacy of four controversial bills passed by opposition parties to limit the scope of a law on foreclosures.

The bills were referred to the court by President Nicos Anastasiades who argued that they were unconstitutional.

Approval of the bills prompted the so-called Troika (IMF, EU, ECB) of international lenders to withhold the next tranche of bailout assistance because the bills violated the terms of Cyprus’ bailout agreement.

Under…

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Supreme Court to deliver verdict on foreclosures
Local News October 31, 2014

UN SG’s Special Adviser in Athens on November 5

UN Secretary General`s Special Adviser on Cyprus Espen Barth Eide will be meeting with Greek Prime Minister Antonis Samaras and Greek Deputy Prime Minister and Foreign Affairs Minister Evangelos Venizelos, in Athens, on November 5.

A UN press release says that Eide has completed his one day visit to Ankara where he met with Turkish Prime Minister Ahmet Davutoğlu, Minister of Foreign Affairs Mevlüt Çavuşoğlu and Undersecretary of the Foreign Affairs Ministry Feridun Sinirlioğlu and is scheduled to be in…

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UN SG’s Special Adviser in Athens on November 5
Local News Business October 31, 2014

‘No more money for ailing airline’

By Constantinos Psillides

THE government is doing everything in its power to save Cyprus Airways (CY) but it won’t give the ailing carrier any more money, Finance Minister Harris Georgiades said yesterday.

Speaking at a news conference, the minister was responding to accusations by CY employees who have blamed the government for driving the company to the ground.

“We will not spend more money in supporting Cyprus Airways. The era of thoughtlessly throwing money at the carrier has passed,” said…

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‘No more money for ailing airline’
Local News Comment October 31, 2014

Our View: Forging of energy alliances will not erase need for a Cyprus solution

THE CYPRUS-Greece-Egypt co-operation agreement which will be formalised at a meeting of the heads of the three governments in Cairo in eight days time is good news. Although its scope is limited to trade and tourism to start with, Cyprus government sources said it could create the prospects for co-operation in sectors such as security and hydrocarbons.

Egypt has reportedly expressed an interest in purchasing natural gas from Cyprus even though this is not likely to happen any time…

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Our View: Forging of energy alliances will not erase need for a Cyprus solution
Local News Comment October 31, 2014

Barbaros, rights, resolutions and sheer reality

By Nicos Rolandis

IN MY long career I have been taught that, in difficult moments, those who are small and weak remain and suffer alone, unless some major interests are involved. Irrespective of laws, principles and justice nobody will give a hug to the weak. A hug which will save him, not simply offer consolation.

Greek Cypriots should have been well conversant with this moral. It is part of our life, of our recent history. However it appears that…

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Barbaros, rights, resolutions and sheer reality
Local News Business October 31, 2014

Government drafting ‘master plan’ for economic growth

By Stelios Orphanides

WHILE the Supreme Court’s ruling on the constitutionality of four bills accompanying the foreclosure legislation is expected today and may determine the future implementation of Cyprus’s agreement with international lenders, the government is already working on a ‘day after’ plan for the economy in an attempt to boost growth.

“We need a growth strategy and we are already in consultations with stakeholders,” undersecretary to the President, Constantinos Petrides said in a telephone interview yesterday. “It is going…

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Government drafting ‘master plan’ for economic growth
Local News Business October 31, 2014

Connecting Cyprus and Israel electrically

ELECTRICITY connection between Hadera of Israel and Vasilikos in Cyprus is one of the projects to be funded by the EU, in the framework of the programme Connecting Europe Facility (CEF). According to a press release issued by the European Commission, EU member states agreed to allocate €647m to support key priority infrastructure projects.

The amount earmarked for the Hadera Israel-Vasilikos Cyprus connection is up to €1.325m.

The whole project concerns an undersea cable for the connection of the electricity…

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Connecting Cyprus and Israel electrically
Local News October 31, 2014

IPT payment deadline extended

THE HOUSE plenum last night unanimously passed a law extending the deadline for payment of immovable property tax (IPT) by a month, as well as extending by one month the 15 per cent discount.

The legislative proposal, tabled by EDEK MP Nicos Nicolaides, provides that the latest payment date for IPT will be December 31, instead of the end of November as had been announced. Homeowners will receive a 15 per cent discount if they settle their account by November…

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IPT payment deadline extended

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