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...
Probe into CyTA pensions plunder
By Elias Hazou The police are set to begin investigating a number of cases involving the apparent plunder of the pension fund of the Cyprus...
Auditor-general eyes actions of former CyTA board
By Elias Hazou AUDITOR-general Odysseas Michaelides has indicated that the previous board of telecoms utility CyTA may be liable for criminal and civil offences, and...
EAC unions oppose renewal of loan to government
By Angelos Anastasiou The Electricity Authority of Cyprus (EAC) pension fund managing committee will decide on Tuesday whether or not to renew the €100 million...
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...
AG rejects AKEL’s conspiracy probe request
By George Psyllides The island’s attorney-general will not order an investigation into how a suspicious land deal case implicating state officials and politicians was put...
CyTA probe reveals web of shady deals
By George Psyllides ALL THOSE involved in a land deal involving the state telecoms (CyTA) pension fund basically facilitated a company of dubious financial standing,...
CyBC needs fixed budget, public dialogue
By Poly Pantelides THE board of state broadcaster CyBC had wanted a fixed annual budget decided as part of a public dialogue and a study...
Tug-of-war over CyTA chair as Kittis hits back
By Stefanos Evripidou Embattled telecoms chief Stathis Kittis said yesterday he did not intend on staying at the CyTA helm for ever but that his...