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NewsCyprus
House takes pot shot at Downer
THE HOUSE of Representatives adopted a resolution last night accusing UN Special Adviser Alexander Downer of lacking credibility and of hampering the Cyprus negotiations.It stopped short of calling for the Australian’s replacement however, despite calls by some deputies to do so. The resolution, passed by unanimous vote, will be addressed to UN Secretary-General Ban Ki-moon. It calls for the “restoration of the Special Adviser’s objectivity and reliability.”“The House of Representatives deems that the lop-sided and damaging statements and actions of the UN Special Adviser diverge from the provisions of the UN Charter and UN Resolutions on Cyprus,” the resolution read... 25 comments
Fitch downgrades Cypriot banks
FITCH Ratings has downgraded the Bank of Cyprus (BOC), Marfin Popular Bank (MPB) and Hellenic Bank's (HB) long-term and short-term Issuer Default Ratings (IDR), Support Rating Floors (SRF), Support Ratings and Viability Ratings (VR) following the sovereign rating action taken on Cyprus.Fitch downgraded BOC, MPB and HB's long-term IDRs and SRFs to 'BB+' from 'BBB-' and their short-term IDRs to 'B' from 'F3' and removed them from Rating Watch Negative.These actions were the direct consequence of Cyprus' sovereign downgrade last week to a notch shy of junk, as well as Fitch's reassessment of the potential support available to the banks, the agency said... 6 comments
Bus strike continues in most areas
THE bus strike continued in most districts yesterday and was set to continue for a third day today as the government and companies failed to bridge their differences despite intensive talks.Services resumed in Larnaca yesterday and according to Communications Minister Efthimios Flourentzos Famagusta would follow suit today.He also said he expected the Nicosia company to have services running today but last night there was no sign that the strike had been called off in the capital.Differences remained with Limassol and Paphos companies, which were expected to continue with the strike despite successive meetings at the ministry.Bus drivers went on an indefinite strike because they had not been paid January wages... 3 comments
Crunch time for Cyprus Airways
THE government will look into selling a majority stake in Cyprus Airways, Finance Minister Kikis Kazamias said today, as the national carrier struggles to remain afloat.Speaking at the annual hoteliers’ conference, Kazamias said the ministry has prepared a proposal, asking for a decision that the government is prepared to negotiate with an investor, without ruling out sale of its majority stake.“Only this way we can get someone to show interest in a company, which has given and is giving a lot to the country, especially tourism, but from an economic view, it seems it was not doing well in the last decades,” the minister said.The proposal will be tabled before the cabinet during its next meeting or the one after that, the minister said... 12 comments
Hospital fees could rise
THE HEALTH Ministry is considering a change in legislation that would introduce increased fees for treatment at state hospitals.According to news reports yesterday, the bill includes a €10 fee for A&E visits, as well as €0.50 on every pharmaceutical purchased from state pharmacies.The fees will have to be coughed up by everyone, whether they hold a medical card or not. Furthermore, to register at the hospital, all patients except pensioners will have to pay €5... 2 comments
State won’t pick up private healthcare bills unless proper channels used
PATIENTS must follow the proper procedures when it comes to the reimbursement of charges paid to private hospitals, otherwise they will receive nothing, they were warned yesterday.The House Health Committee yesterday discussed complaints from members of the public who said they had been sent for treatment to private clinics due to shortages at state hospitals, and then told by the Health Ministry that they would not have their money reimbursed... 1 comment
Turkish drilling being monitored
THE GOVERNMENT is monitoring Turkish plans for onshore oil drilling in the occupied north and aims to report such actions to the United Nations, Foreign Minister Erato Kozakou-Marcoullis has said.She said authorities have information that the drilling will take place either in the occupied village of Singrasi or near the archaeological site of Engomi.Whichever the case may be, Marcoullis said, in the event these reports are confirmed the Republic would be reporting these “illegal acts” to the European Union and other international organizations.Earlier this month Turkish Cypriot daily Haberdar published what it claimed was the exact location of planned land-based drilling for oil and gas in the north... 9 comments
Russia energy minister visit
RUSSIA’S Deputy Minister of Energy Yury Sentyurin will be visiting Cyprus next week for the Russia-Cyprus Business and Investment Forum to take place on February 10 in Limassol. Sentyurin will be moderating a panel discussion entitled “Business Opportunities”.Phidias Pilides, President of the Cyprus Chamber of Commerce and Industry (CCCI) which is co-organising the event, noted the importance of Sentyurin’s visit, adding that “energy issues as well as other matters are of high interest for the Russians”.Cyprus is preparing to launch a second licensing round for hydrocarbons exploration and Russian companies are reportedly interested in participating. ... 5 comments
Food supplements ‘a danger to health’
TEN OUT of 30 different supplement pills tested last year in Nicosia and Limassol were found to contain dangerous and banned substances, and the state has still not acted on it, the House Health Committee heard yesterday.The alarming news was revealed by the head of the Cyprus Anti-Doping Authority, Michael Petrou.“Among our duties is to ensure the safety of supplements, so we carried out our own investigation,” Petrou told MPs. “We checked 30 supplements in the Limassol and Nicosia districts and found 10 containing substances that are very dangerous for human health... 5 comments
Tourism: long-standing problems persist, say hoteliers
REVENUE per tourist has dropped by €267 in the last decade to reach a figure of €733, resulting in losses of approximately €1 billion, according to statistics presented by the Cyprus Hotels Association (PASYXE) yesterday.During its annual conference held in Nicosia, PASYXE also said that roughly 2.4 million tourists visited Cyprus in the past year, a ten per cent increase on 2010.Tourist numbers from Russia rose by 50 per cent last year, carried over from a 40 per cent increase the year before, while tourist from the UK, Germany and Scandinavia all contributed to the numbers.Europe noted a six per cent increase during the same period, while world tourism in 2011 also rose by 4.4 per cent, reaching 880 million... 6 comments
