Posts by tag: Cyta

Local News April 12, 2014

Lillis tells all in latest round of Dromolaxia scandal hearings

By Angelos Anastasiou

IT WAS entrepreneur Nikos Lillis’ turn to testify for the prosecution at the Larnaca Assize court yesterday in the controversial CyTA land scandal trial, in which eight defendants – seven persons and a legal entity – pleaded not guilty to all 28 charges presented against them last month.

The case involves a suspicious land deal in Dromolaxia paid for by the state telecoms CyTA employees’ pension fund. The seven defendants face 28 charges relating to the alleged…

Read More
Lillis tells all in latest round of Dromolaxia scandal hearings
Local News April 8, 2014

CyTA voluntary redundancy scheme remains under the microscope

CyTA chairman Aristos Riris has sought to address the House Finance committee’s concerns over perceived excessive compensation offered to voluntarily exiting employees, while the semi-state authority wants to hire 50 employees despite the hiring freeze in the public sector.
In a letter to the committee dated Monday which was examined yesterday too, Riris referred to the company’s revised voluntary exit scheme, which is part of its three-year restructuring plan. The latest scheme had compensation offered to exiting employees cut…

Read More
CyTA voluntary redundancy scheme remains under the microscope
Business Local News April 1, 2014

CyTA will just about break even this year

By Elias Hazou

SEMI-state telecoms CyTA is expected to just about break even this year, MPs heard yesterday.

The organisation is slated to be privatised by the end of 2015 in order to raise cash to pay down an international rescue package secured by the government last year.

But during a discussion of the CyTA’s budget for 2014, lawmakers were told that its revenues this year would be halved compared to 2013.

In 2014 the SGO will rake in €415m…

Read More
CyTA will just about break even this year
Local News March 29, 2014

Defendants in CyTA land scandal plead not guilty

By Angelos Anastasiou

EIGHT defendants – seven persons and a legal entity – implicated in the CyTA land scandal yesterday pleaded not guilty to all 28 charges presented against them.

The case involves a suspicious land deal in Dromolaxia paid for by the pension fund of state telecoms company CyTA.

The Larnaca Assize Court, which was convened yesterday, decided to start the proceedings on Monday at 1 pm with the first witness testifying for the prosecution.

Prosecutor Elli Papagapiou presented…

Read More
Defendants in CyTA land scandal plead not guilty
Business Local News March 26, 2014

Cabinet approves mechanism for decrees facilitating privatisations

The Cabinet on Wednesday approved a mechanism to issue executive decrees relating to the privatisation of semi-government organisations (SGOs), on the basis of a road map approved in December 2013.

Organisations to be privatised and fall within the remit of responsibility of the ministry of finance are; the Cyprus Telecommunications Authority (Cyta), the Cyprus Stock Exchange (CySE) and Cyprus Forest Industries, an official statement from the Cabinet said.

It is further added that the Electricity Authority of Cyprus (EAC), the Cyprus…

Read More
Cabinet approves mechanism for decrees facilitating privatisations
Local News March 14, 2014

CyTA land trial adjourned until March 28

By staff reporter

The case against seven suspects implicated in a suspicious land deal involving the pension fund o state telecoms company CyTA was adjourned on Friday to give time to the defence to study thousands of pages of evidence.

Defence lawyers asked Presiding Judge Nicos Sandis for time to study some 7,000 pages of documents that include phone records, bank statements, and records of an independent probe into the matter.

They also repeated they intended to request…

Read More
CyTA land trial adjourned until March 28
Local News March 7, 2014

Suspicious land deal charges against AKEL member dropped

PROSECUTORS on Friday dropped charges against a member of main opposition party AKEL, who had been implicated in a suspicious land deal in Larnaca involving the state telecoms company pension fund.

Despite initially judging they had enough to charge Christos Alecou, one of two AKEL members involved in the case, prosecutors dropped the charges saying they did not have enough evidence against him.

Alecou, the party’s Larnaca district officer at the time of the alleged offense, was scheduled to respond…

Read More
Suspicious land deal charges against AKEL member dropped
Local News Sport March 6, 2014

CyTA-LTV sports channel goes live

By Constantinos Psillides

Telecommunications Authority (CyTA) and Lumiere Television (LTV) will be launching a new collaborative sports channel, hosting matches from the English Premier League, the Spanish League and the German Bundensliga, according to CyTA spokesman Lefteris Christou.

The new channel will be broadcast by the Cytavision platform and will go live on Saturday, March 8. The first game broadcast will be Chelsea versus Tottenham at 7.30 pm.

Asked whether CyTA would be charging subscribers extra for the new channel,…

Read More
CyTA-LTV sports channel goes live
Business Local News March 6, 2014

‘SGOs are not yours,’ Harris tells workers

By George Psyllides

THE taxpayers are the owners of state organisations and not the workers, Finance Minister Harris Georgiades said yesterday as unions contemplated their next move after the approval by parliament of a privatisations roadmap they opposed.

Georgiades reiterated that the rights of the workers were fully secured and that they would be part of the consultations before any decisions were made.

According to the roadmap, conditional to the next tranche of international aid as part of the bailout…

Read More
‘SGOs are not yours,’ Harris tells workers
Local News March 5, 2014

AKEL and DISY cross swords over previous planned sale of CyTA

By Constantinos Psillides

LEADER of opposition AKEL Andros Kyprianou yesterday said he had proof that DISY wanted to sell CyTA in 1999 for €125 million.

Kyprianou posted on an AKEL website a January 27, 1999 cabinet decision and a piece of proposed legislation dating from March 2001. The documents refer to decisions taken while Glafcos Clerides was president, from 1993 to 2003.

According to the documents, the cabinet asked the Cyprus Development Bank (CDB) in 1996 to provide an estimation…

Read More
AKEL and DISY cross swords over previous planned sale of CyTA

You might also like...

LEVENTIS GALLERY

Calendar

April 2014
M T W T F S S
« Mar    
 123456
78910111213
14151617181920
21222324252627
282930