Posts tagged with "Cyprus"

Defendant denies premeditated murder in Peyia hit and run Cyprus

Defendant denies premeditated murder in Peyia hit and run

September 19th, 2018 A 35-year-old man pleaded not guilty to premeditated murder on Wednesday in the death of a British tourist who had been hit by a car in Peyia in June, in what authorities believe was a deliberate assault following an altercation. The defendant, a Georgian national, also denied an attempted murder charge against a second Briton....
Cyprus, Egypt sign gas pipeline agreement (Updated) Cyprus

Cyprus, Egypt sign gas pipeline agreement (Updated)

September 19th, 2018 Egypt and Cyprus on Wednesday signed an agreement for the construction of an underwater pipeline to export natural gas to Egypt. The deal was signed at the presidential palace by Energy Minister Yiorgos Lakkotrypis and Egypt’s Oil Minister Tarek el-Molla. Lakkotrypis said the agreement aimed at ensuring the timely and safe...
People trafficking suspects to be released pending investigation Cyprus

People trafficking suspects to be released pending investigation

September 19th, 2018 Five suspects, including three police officers, held in connection with people trafficking were expected to be released on Wednesday without being charged pending the outcome of the investigation. The five were held on remand for eight days following their arrest last week in connection with people trafficking and sexual exploitation,...
Police arrest five for illegal entry Cyprus

Police arrest five for illegal entry

September 19th, 2018 Larnaca police arrested five people for illegal entry into the island after a vehicle driven by a 40-year-old man was checked in the early morning hours of Wednesday. The car had been stopped a little after 2am and was later driven, along with its five passengers, to a police station. Further examinations revealed that the four men...
No plan to lower fuel tax, minister says (updated) Cyprus

No plan to lower fuel tax, minister says (updated)

September 18th, 2018 The government does not favour a change in its tax policy on fuel because it is low compared with the rest of the EU, Finance Minister Harris Georgiades said on Tuesday. Speaking before the House energy committee, the minister did not rule out revisiting the matter if the price of fuel rose. Of the low fuel prices in the north,...
Cyprus bond yields drop following sovereign upgrade Cyprus

Cyprus bond yields drop following sovereign upgrade

September 17th, 2018 Cypriot bond yields fell sharply on Monday after Standard and Poor’s rating agency upgraded the island’s sovereign bond to investment grade, more than six years after it had been downgraded into ‘junk’ territory. S&P lifted Cyprus's rating to BBB- from BB+, citing brighter growth prospects and consolidation in the banking...
NPLs up by €14m in May, Central Bank says Cyprus

NPLs up by €14m in May, Central Bank says

September 14th, 2018   Non-performing loans in the Cypriot banking system rose by €13.9m in May, to €19.9m, compared with April, mainly on households failing payments, the Central Bank said on Friday. Still, the non-performing loans ratio fell slightly, to 42.7 per cent as bank lending rose by €262m, to €46.6m, in the fifth month of the...
Financial ombudsman delivers report on co-op loan set off debacle Cyprus

Financial ombudsman delivers report on co-op loan set off debacle

September 14th, 2018 Financial ombudsman Pavlos Ioannou on Friday delivered a preliminary report to President Nicos Anastasiades concerning co-op customers who had their deposits set off against loans and other obligations and their accounts froze just before the lender was shuttered at the end of August. Following the meeting, Ioannou said despite the...
Mogherini and Lute discuss EU role in Cyprus peace process Cyprus

Mogherini and Lute discuss EU role in Cyprus peace process

September 13th, 2018 ΕU High Representative and Commission Vice President Federica Mogherini held a meeting on Thursday with the UN Secretary General's special Envoy Jane Holl Lute to discuss the EU's role in resolving the Cyprus issue. According to Chief Commission Spokesman Margaritis Schinas, the meeting concludes the UN envoy`s series of...
Cabinet passes budget, slashes defence levy (Updated) Cyprus

Cabinet passes budget, slashes defence levy (Updated)

September 13th, 2018 By Stelios Orphanides The cabinet on Thursday approved the 2019 budget and the budgetary framework over the next three years, including a reduction of the defence levy, the finance minister said Next year’s budget provides for €8.5bn in revenue and €7.9bn in spending which generates in turn a surplus of 3 per cent of the...
Customs seize designer knockoffs Cyprus

Customs seize designer knockoffs

September 13th, 2018 Close to 10,000 items, which violate intellectual property rights were seized by customs during an operation in Famagusta on Wednesday. The customs department said its officers, in cooperation with the police, carried out checks at four outlets in Famagusta where 9,857 designer knockoffs were found and seized. Their value has been...
Government says it will not be blackmailed by teachers' strike Cyprus

Government says it will not be blackmailed by teachers' strike

September 12th, 2018 PRESIDENT Nicos Anastasiades said on Wednesday the government would not succumb to blackmail as teachers announced a 48-hour strike next week. All three teachers' unions – Poed, Oelmek and Oltek – decided to go on strike next Tuesday and Wednesday after their latest proposals were rejected by the government in a dispute that has...
Trade deficit shrinks by 6.5% in first seven months on export surge Cyprus

Trade deficit shrinks by 6.5% in first seven months on export surge

September 12th, 2018 Cyprus’s trade deficit shrank by 6.5 per cent in the first seven months, to €2.4bn, mainly on a strong increase in exports which outstripped imports, the statistical service said. Total exports rose 54 per cent, to €2.8bn, year compared with the respective period last year, Cystat said in a statement on Wednesday. Total imports...
Strong earthquake felt in Cyprus Cyprus

Strong earthquake felt in Cyprus

September 12th, 2018 A magnitude 5.5 earthquake was felt in Cyprus on Wednesday morning, the geological survey department said. There were no immediate reports of injuries or damage caused by the 9.21am temblor. People, however, did evacuate buildings in some cases. The earthquake’s epicentre was was 168 kilometres north-west of Polis at a depth of...
Legacy co-op sets up teams to address set-off impact Cyprus

Legacy co-op sets up teams to address set-off impact

September 11th, 2018 The Cypriot Asset Management Company, the subsidiary of the legacy Co-op, said Tuesday it is working on immediately addressing problems caused by the decision to set off deposits against loans last month before its operations were taken over by Hellenic Bank. Kedipes, as the company is called, based on its Greek acronym, has set up a...
Police officers arrested in people trafficking case (updated) Cyprus

Police officers arrested in people trafficking case (updated)

September 11th, 2018 Police on Tuesday arrested three of their own in connection with people trafficking and sexual exploitation following allegations they received bribes to turn a blind eye while serving at passport control at the airport and let through women who were later employed at a bar in Nicosia. Two other people, the owner of the bar, 36, and a...
Kotzias to meet UN envoy to discuss Cyprus problem Cyprus

Kotzias to meet UN envoy to discuss Cyprus problem

September 10th, 2018 Greece’s Foreign Minister Nicos Kotzias will be meeting UN envoy Jane Holl Lute on Tuesday afternoon to discuss Athens’ positions on the potential resumption of reunification talks. The meeting is scheduled for 4pm at the foreign ministry in Athens. Lute will then travel to Brussels for talks with Federica Mogherini, the EU’s...
Cyprus expresses reservations over FTT Cyprus

Cyprus expresses reservations over FTT

September 7th, 2018 Finance Minister Harris Georgiades said Cyprus is cautious towards an EU proposal to introduce a financial transactions tax but was in favour of deepening the economic union. Speaking at the Eurogroup meeting in Vienna, Georgiades said the European Union is at a key juncture in the course of its economic governance. He added that...
Unemployment falls to 7.3% in Q2 Business

Unemployment falls to 7.3% in Q2

September 7th, 2018 The unemployment rate dropped to 7.3 per in the second quarter from 10.7 in the previous one and 10.6 per cent in the respective quarter of 2017, the statistical service said citing its labour force survey. In the second quarter, the unemployment rate among men and women was 7.2 per cent and 7.5 per cent respectively, Cystat said in a...
Inflation rate hits 2.5%, highest since August 2011 Cyprus

Inflation rate hits 2.5%, highest since August 2011

September 6th, 2018 The annual inflation rate rose in August to 2.5 per cent -- the highest in seven years -- from 2.3 per cent the previous month, once more exposing Cyprus’s vulnerability to energy price hikes. In the first eight months, the consumer price index rose an annual 0.9 per cent, the statistical service said on Thursday. In August, the...
Turkish Cypriots criticise Dutch, French FMs for not meeting with them Cyprus

Turkish Cypriots criticise Dutch, French FMs for not meeting with them

September 6th, 2018 Turkish Cypriots on Thursday criticized the Netherlands and France for not scheduling visits with them during the visits of their foreign ministers to Cyprus this week. Baris Burcu, the spokesman of Turkish Cypriot leader Mustafa Akinci, said it was unacceptable for them to come to Cyprus and not meet with the Turkish Cypriot...
Company registrations up 9.9% in August Cyprus

Company registrations up 9.9% in August

September 6th, 2018 The number of company registrations, a performance gauge of the corporate, accounting, and legal services sector rose 9.0 per cent in August, to 1,003, compared to the respective month of 2017, the Registrar of Companies and Official Receiver said. In the first eight months of the year, which saw US pressure mounting on Cyprus to...
Work hard but don't expect immediate reward, Indian President tells students Cyprus

Work hard but don't expect immediate reward, Indian President tells students

September 4th, 2018 India’s President Ram Nath Kovind told students at the University of Cyprus (UCy) that although technology has opened a new world of learning and has made it easier to accomplish tasks, they should continue to work hard without expectation of immediate reward in pursuit of excellence. The Indian president concluded an official visit...
Rusting boats in Pyrgos a legacy of people smuggling Cyprus

Rusting boats in Pyrgos a legacy of people smuggling

September 2nd, 2018 A rusting passenger vessel called Nedim Kaptan docked at the harbour of Kato Pyrgos since last November when it was towed by Cypriot authorities with some 170 mostly Syrian refugees onboard, has become a bit of an attraction, but not a very pleasant one for the local community. It is one of four vessels used for carrying refugees and...
Faded crossings are a danger to pedestrians Cyprus

Faded crossings are a danger to pedestrians

September 2nd, 2018 By Annette Chrysostomou and Liam Carter Pedestrians mostly blame inconsiderate and bad drivers when cars fail to stop for them at pedestrian crossings, but all too often faded road markings may well be equally to blame. Nicosia old town seems to be particularly at fault. "On our first day here, we couldn't actually figure out...
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