NewsCyprus

Sale of Greek banks ‘could cost BoC millions’

By George Psyllides 22/05/13
 BANKERS yesterday criticised as unfair a deal to sell the Greek operations of the island’s banks as part of a €10 billion bailout deal Cyprus signed with international lenders.The operations of all three Cypriot banks – Bank of Cyprus (BoC), Laiki and Hellenic – went to Greece’s Piraeus Bank, which paid around €500 million.The deal went through despite opposition from the boards of BoC and Laiki, which was 84 per cent state owned.Former BoC chairman Andreas Artemis told the House Ethics Committee the deal had been seen through by the Central Bank (CBC) and the finance ministry without informing the lenders of the details, despite their pleas... 5 comments

New BoC chief

22/05/13
THE board of directors of the Bank of Cyprus will meet this morning to pick its new CEO. The two candidates, Christos Christou and Michalakis Kolakkides, were chosen by the bank’s nominations committee.According to sources, the board will meet at 8.30am to decide on a final list of names which it will send to the Central Bank (CBC). As the resolution authority, the CBC, has the final say on any boardroom-level decisions... Read on

EU draft bank rescue law would not shield big deposits

By Claire Davenport 22/05/13
A DRAFT law that a group of European Union lawmakers voted for on Monday would shield small depositors from losing their savings in future bank rescues, but customers with more than €100,000 in savings when a bank failed could suffer losses.A group of lawmakers in the European Parliament's economics committee overwhelmingly voted that, from 2016, large depositors in the EU might suffer losses if a bank gets into serious trouble. The plan was similar to the deal for Cyprus, which saw large depositors at Bank of Cyprus and Laiki taking hits... 7 comments

Sex museum ordered to close its doors

22/05/13
A SEX museum in the centre of Ayia Napa has been ordered to close because it was never granted permission to operate in the first place.Owners have been given until Friday to take down the sign outside and remove all exhibits before a court date.“This gentleman has been sent a court order and must go to court on Friday to declare he has converted the museum back to its residential state,” Ayia Napa Mayor Yiannis Karousos said yesterday.The mayor asked the museum owner to close the sex museum because he did not ask for or receive permission top operate, and because the content of the museum was not suitable for the city... 20 comments

Court disruption as family try to attack man accused of murder

22/05/13
A MURDER suspect had to be escorted from a courtroom through the judges’ chambers yesterday to avoid an attack from relatives of the man he shot dead in the village of Kofinou in March over a property dispute.Prodromos Hadjipanayis, 33, is accused of killing 54-year-old Panicos Stavrou and injuring his son Giorgos Georgiou as well as three other people during a shooting rampage on March 23.The suspect was scheduled to be formally charged yesterday but his defence asked for more time to examine additional evidence requested from the state.The court agreed and adjourned for June 26.Hadjipanayis is expected to be charged with premeditated murder and manslaughter... 5 comments

Cypriot success on Britain’s Got Talent

By Poly Pantelides 22/05/13
 STANDING in front of an audience and a panel of judges for UK show Britain’s Got Talent, Aliki Chrysochou said that there was a time her mum needed to do everything for her because she could not speak, read, write or walk. The Limassol-born Cypriot was diagnosed with encephalitis ten years ago, a serious condition causing inflammation of the brain. A video clip quickly doing the rounds on social media sites was just the tearjerker talent shows are known for, presenting the story of the recovery of a stunning and dignified Aliki. ... 9 comments

Ministry could be fined for forcing girl to sit through RE classes

By Elias Hazou 22/05/13
OMBUDSWOMAN Eliza Savvidou yesterday gave the Education Ministry a final deadline to comply with what she regards as discriminatory practices against students.In her capacity as head of the Anti-Discrimination Body, Savvidou has the power – but also intends – to impose sanctions on the ministry unless and until it does comply.The case draws on a complaint lodged by a high-school student attending a public school who opted out of religious education (RE) class.Whereas the girl was excused from taking the class and from being graded for it, she was nonetheless required to be present in the classroom during the lesson... 15 comments

Cyprus has cleanest swimming sites in Europe

By Stefanos Evripidou 22/05/13
ALL 112 beaches tested in Cyprus for a recent European report have “excellent” water quality, putting the island at the top of the EU for bathing.Ninety-four per cent of bathing sites in the European Union meet minimum standards for water quality, with Cyprus and Luxembourg having the highest quality of bathing sites in the bloc, according to the European Environment Agency (EEA) annual report on bathing water quality in Europe. Cyprus, along with Luxembourg, scored full marks in the report, with all 112 coastal bathing sites deemed to have “excellent” water quality. The EU average stands at 78 per cent, showing a two per cent increase compared to the previous year.   ... 8 comments

Infighting reaches new level at DIKO

By Stefanos Evripidou 22/05/13
 WITH ELECTIONS for the DIKO party leadership earmarked for this November, the two main contenders yesterday locked horns over the question of party expulsions. DIKO leader Marios Garoyian questioned the point of defining people as party members if they act either in an official capacity or unofficially in the interests of other movements or parties.  DIKO MP Nicolas Papadopoulos, who opposed the party decision to support President Nicos Anastasiades in February’s election campaign, argued that now was not the time to chase people away from the troubled party but to work towards unity... 1 comment

State fund to employ people in tourism undersubscribed

22/05/13
DESPITE President Nicos Anastasiades’ announcement last month, during his speech on kick-starting the economy, that €21m will be given towards helping the tourism industry to employ 6,000 people the government has only received 1,000 applications.According to the head of the Cyprus Hotels Association (PASYXE), Haris Loizides, if the government’s project had been announced in January or February more interest would have been shown.“Hotels have already made arrangements to employ people although many hotels continue to hire unemployed Cypriots, just not through the programme,” Loizides said... 3 comments
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