Inspection

Inspection

Justice Minister Ionas Nicolaou on a visit to Limassol police headquarters on Wednesday (PIO)

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Entertainment What's On March 4, 2015

A violin, a piano and a cello unite

A violin, a piano and a cello unite

The Pharos Arts Foundation, with the support of the Embassy of Austria in Nicosia, will present a concert with one of Austria’s most celebrated musicians, violinist Gerhard Schulz, on Friday in Nicosia.

Schulz, who was a member of the world renowned Alban Berg Quartet for over 30 years, will be joined by pianist Noam Greenberg and cellist Lilia Schulz-Bayrova for an all-Viennese programme of works by Schubert, Brahms and Alban Berg.

The Austrian musician studied with Franz Samohyl in Vienna,…

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Business March 4, 2015

Vgenopoulos had law office removed, lawyer Neocleous says

Vgenopoulos had law office removed, lawyer Neocleous says

By Stelios Orphanides and Angelos Anastasiou

Former Laiki Bank strongman Andreas Vgenopoulos used his influence to have lawyers acting against him replaced after they filed papers against him for contempt of court after he violated a global asset freezing order, the lawyer said on Tuesday.

Andreas Neocleous & Co LLC, the law firm appointed by the administrator of failed lender Cyprus Laiki Bank to represent the bank against Andreas Vgenopoulos – the bank’s former boss, whom many blame for its failure…

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Local News Comment March 4, 2015

Our View: CBC governor finds herself in spotlight at exactly the wrong time

Our View: CBC governor finds herself in spotlight at exactly the wrong time

THERE could have been no worse time for the latest public row involving the Central Bank governor, the administrator of legacy Laiki and the law office representing the bank. It erupted on the eve of the meeting of the European Central Bank’s governing council that will take place in Nicosia on Thursday. As Europe’s central bankers arrive today, their host Chrystalla Georghadji will be at the centre of public attention for all the wrong reasons.

Allegations of conflict of interest…

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What next for Greece?

What next for Greece?

By Stelios Papadopoulos

Last week the Greek Government cleared its final hurdles to extending its €172 billion bailout for another four months, when eurozone finance ministers approved Greece’s proposed list of economic reforms on Tuesday.

On Friday, the German parliament approved an extension of the Greek bailout by a wide margin. But the battle has just begun. The question is what form it will take or what will be the issues over which it will be fought. Answering…

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Local News March 4, 2015

New recycling areas to be created

New recycling areas to be created

Nine new green spots are to be created in the Nicosia district over the next nine months, the interior ministry announced on Tuesday.

According to the ministry, the green spots are part of a European directive on waste, reduce- reuse- recycle-recover, aiming to protect public health and the environment and to safeguard and improve the conditions of sustainable development.

“A Green spot is a place where recyclable materials and other categories of waste are collected,” an announcement said.

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Last-gasp Benteke penalty hands Sherwood first win at Villa

Last-gasp Benteke penalty hands Sherwood first win at Villa

By Sam Holden
A last-gasp Christian Benteke penalty handed Tim Sherwood his first win as Aston Villa manager and lifted his side out of the Premier League relegation zone with a 2-1 home victory against West Bromwich Albion on Tuesday.
Sadio Mane struck late to rejuvenate Southampton’s fading battle for Champions League qualification with a 1-0 home win against Crystal Palace to move them into fifth, while Sunderland came from behind to draw 1-1 at Hull City.

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Local News March 3, 2015

Former central banker governor said suing government for pension

Former central banker governor said suing government for pension

Former Central Bank governor Panicos Demetriades, who received a €265,000 golden parachute from the government in exchange for resigning his post three years ahead of schedule in 2014 is suing for pension rights since his resignation, local daily Simerini reported on Tuesday.
According to the paper, Demetriades, 56, is not entitled to a pension as a retired government official until he turns 60.
But he has apparently decided to challenge whether he does, in fact, fall under the…

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Football Sport March 3, 2015

CFA agrees on First Division structure

CFA agrees on First Division structure

The Cyprus Football Association (CFA) on Tuesday decided to amend its articles of association, mandating the league’s First Division to feature at least 12 and a maximum 14 teams.
The amendment was a compromise proposal by the CFA’s chairman, who found himself in an escalating disagreement between a coalition of 10 small clubs (six from Division One, two from Division Two and the representative of Third-Division clubs), who wanted to increase the number of teams in the First-Division league…

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Local News March 3, 2015

More financial collapse cases to come to court

More financial collapse cases to come to court

Criminal investigations into the collapse of the economy are ongoing and two more cases will be brought before the courts in the coming days, Attorney General Costas Clerides said on Tuesday.
Speaking on state television, Clerides acknowledged the slow pace at which investigations are proceeding, but said this was a given all along. Cyprus suffered an unprecedented banking collapse in March 2013, which, coupled with poor public finances, led the Cypriot economy into a sharp contraction from which the island…

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Local News March 3, 2015

Dromolaxia trial postponed till May

Dromolaxia trial postponed till May

By Constantinos Psillides

The trial of two Cyprus Intelligence Service (ΚΥP) officers accused of accepting bribes from businessman Nicos Lillis to assist with a land scam in Dromolaxia, was adjourned until May 8 by the Larnaca District Court on Tuesday.

Defence lawyer for officers Costas Miamiliotis and Lefteris Mouskos requested more time to go over the case material, explaining that they didn’t receive all of it from the police.

The land scam involved the illegal purchase by the CyTA Pension…

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Local News March 3, 2015

Tender procedure for state projects undergoing overhaul

Tender procedure for state projects undergoing overhaul

By Angelos Anastasiou

The House Ethics committee on Tuesday started work on overhauling procedures regarding tenders for public projects, with a view to combating incidents of corruption.

“We started today with a review of the general framework on government tenders, which needs to be broadened to include semi-state organisations, as well as local governance,” acting committee chairman Demetris Syllouris said.

He explained that the committee’s role will be supervisory, but also tasked with “creating a framework even better than the…

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Local News March 3, 2015

Financial aid granted for flood victims

Financial aid granted for flood victims

The Cabinet on Tuesday approved €1.5 million for financial assistance to people affected by the severe weather in December 2014 and January 2015.

It said the money was approved because the scale of the disaster was unprecedented and had affected many more categories of people than would usually qualify for compensation.

“For this reason, it was decided by the minister of interior to support people who had been affected by the disaster and had immediate needs,” a Cabinet statement said.

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Local News March 3, 2015

New body to combat looting and trafficking of antiquities

New body to combat looting and trafficking of antiquities

A national commission for combating looting and trafficking in cultural heritage has been given the green light by the cabinet.

The Committee will be composed of one representative each from the legal services, the ministries of communications and works, foreign affairs, education, and justice, the antiquities department, customs and the Church.

The commission’s responsibilities will be to examine documentation, make recommendations and conclude agreements with third countries to prevent theft and illegal import and export of artefacts and to maintain…

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Local News March 3, 2015

Cabinet approves legal aid for bondholders

Cabinet approves legal aid for bondholders

The Cabinet on Tuesday approved a proposal for free legal aid to bondholders who wish to file lawsuits against the banks.

Private holders of convertible enhanced capital securities issued by the Bank of Cyprus and now-defunct Laiki Bank claim they were mis-sold the financial products, which were essentially wiped out following the March 2013 events, and demand to be compensated.

Many had also drawn loans using the securities as collateral, which they are now being asked to repay.

Last month…

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International News March 3, 2015

Israel’s Netanyahu warns US against Iran nuclear deal

Israel’s Netanyahu warns US against Iran nuclear deal

By Dan Williams and Matt Spetalnick

Israeli Prime Minister Benjamin Netanyahu warned US President Barack Obama on Tuesday against accepting a nuclear deal with Iran that would be a “countdown to a potential nuclear nightmare” by a country that “will always be an enemy of America”.

“If the deal now being negotiated is accepted by Iran, that deal will not prevent Iran from developing nuclear weapons – it will all but guarantee that Iran will get those nuclear weapons –…

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Local News March 3, 2015

Lifer to be given parole by Easter

Lifer to be given parole by Easter

By Evie Andreou

Lifer Kyriacos Georgiades, 54, who threatened to go on hunger strike unless he was released on parole, has been promised by the State Legal services his wish will be granted by Easter following the intervention of the US embassy, his sister said on Tuesday.

He was also convinced by his family to refrain from the hunger strike.

“We his family, that don’t want his life to be in danger, have managed to convince him to suspend his…

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Local News March 3, 2015

Former energy regulator to face corruption trial

Former energy regulator to face corruption trial

By Elias Hazou

Former energy regulator Costas Ioannou is facing trial on charges of corruption and money laundering in relation to a power production licence he awarded a Russian company in 2009.

The police investigations, which took place in Cyprus and in Russia, date back to 2013.

Authorities were recently able to line up all the pieces in the puzzle when, having secured a court order, they went through the accounts of a company ultimately belonging to Ioannou.

Police…

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Local News March 3, 2015

CTO director fired by cabinet

CTO director fired by cabinet

Embattled director of the Cyprus Tourism Organisation (CTO) Marios Hannides was reportedly given the sack on Tuesday after the cabinet ratified a termination proposal by the organisation’s board of directors.

The CTO board has accused Hannides of squandering public money on unauthorised advertising campaigns, overseas trips, using office staff as chauffeurs outside office hours and other expenses, as detailed in a probe by Auditor-general Odysseas Michaelides.

The board earlier took the decision to terminate Hannides’ contract, but the move needed…

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Local News March 3, 2015

RES fund to post a deficit

RES fund to post a deficit

By Elias Hazou

The Renewable Energy Sources (RES) Fund, financed by consumers through electricity bills, will this year post a deficit because of the power utility’s reduced revenues due to lower fuel prices.

The government is considering plugging the hole by spreading the cost among consumers and RES operators.

However, the extra cost charged to consumers would be tiny, energy minister Giorgos Lakkotrypis said on Tuesday, following discussion at the House commerce committee.

“It is a headache, but a pleasant…

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Business March 3, 2015

Cyprus CEOs more confident about growth prospects

Cyprus CEOs more confident about growth prospects

CEOs in Cyprus are more confident this year about their company’s revenue growth prospects, according to the 4th consecutive local survey carried out by PricewaterhouseCoopers (PwC) Cyprus within the framework of the Global CEO survey held annually over the past 18 years.

This year’s global survey, which saw the participation of more than 1,300 CEOs from 77 countries including 84 from Cyprus, focused on the future of businesses and examined how megatrends are transforming the competitive landscape and the dynamics…

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Cyprus News Digest Podcast

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Archives

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