CyBC hits back at audit boss over pension fund
The Cyprus Broadcasting Corporation (CyBC) on Saturday hit back at the auditor-general’s allegations this week regarding mismanagement of its pension fund. An internal investigation into the deficit...
pension fund
Audit chief calls for heads to roll over Cyta pension fund
By Elias Hazou All those responsible for hollowing out the pension fund of the Cyprus Telecommunications Authority (Cyta) should be held accountable, auditor-general Odysseas Michaelides...
Akel’s Venizelos Zanettos pardoned (Update)
High-ranking Akel member Venizelos Zanettos, currently serving a three-and-a-half year jail term over the Dromolaxia scandal, has been pardoned by President Nicos Anastasiades and will...
Our View: SGOs are run like workers’ cooperatives
AN AMOUNT close to €180 million was wiped off the CyTA employees’ pension fund between 2009 and 2013 because of bad investments, said the Auditor-general’s...
Taxpayer likely to shoulder CyTA pension losses
‘The taxpayer shouldn’t be forced to foot the bill for the mismanagement of semi-states’ pension funds’ Cumulative losses of almost €180 million from bad investments...
Over €170m lost from 11 CyTA pension-fund investments
Eleven investments by the employees’ pension fund of the Cyprus Telecommunications Authority (CyTA) from 2009 to 2013 have made a total loss of over €170...
House approves supplementary budget for CyTA
By unanimous vote the House on Thursday approved a €20.9m supplementary budget for the semi-state telecoms company, largely to cover the gap in the organisation’s...
CyTA ’squandered millions’ in bogus projects
By Andria Kades The Cyprus Telecommunications Authority (CyTA) paid millions for projects that haven’t even started through their staff pension fund, the House finance committee...
Trial of KYP officers postponed
The trial of two secret service officers accused of receiving a bribe to falsify a report that made a dodgy land deal possible has been...
Government to take over CyTA pension fund
By Angelos Anastasiou The Cyprus Telecommunications Authority’s (CyTA) pension fund, which has suffered losses of €209 million since 2013, will be taken over by the...
