NewsCyprus

More choices under CY-Air France deal

21/05/13
AS OF this week, Air France and Cyprus Airways are offering  a total of 20 daily code-share flights they said yesterday in a joint statement.The new agreement offers travellers a wider choice. Passengers travelling on Air France’s extensive international network are now able to connect to and from Cyprus at Paris-Charles de Gaulle airport.   Flight options between Larnaca and Paris are also enhanced through several daily connections via Athens, in addition to the five weekly non-stop flights operated by Cyprus Airways. Customers can now take advantage of the domestic flights operated within Greece by Cyprus Airways, offering easy connections via Athens, between Paris, Rhodes and Heraklion... 5 comments

DIKO to hold internal elections

21/05/13
DIKO’S EXECUTIVE Office last night decided to move ahead with internal party elections, setting out a timeframe, while also booking in a discussion on members who have been accused of undermining the party.  Newly-appointed party spokesman, DIKO MP Angelos Votsis said yesterday that the executive office approved a proposal to hold a conference on the party’s charter end of September or early October. This will be followed by an electoral assembly at the end of November.  “The above schedule will be tabled for discussion and approval by the central committee, which will also address the evaluation of results of the presidential elections and the anti-party behaviour witnessed before and after the elections,” said Votsis. ... Read on

Larnaca concert for the needy

21/05/13
LARNACA Municipality and Kiti Metropolis are organising a concert on Monday, May 27 in cooperation with the local communities of Aradippou, Lefkara, Athienou, Leivadia and Dromolaxia–Meneou in an effort to collect food for the needy. The concert named ‘Together for Larnaca and for our common man’ will take place on the Phinikoudes beach and will be opened by the philharmonic orchestra at 4pm. From 6pm until midnight well-known artists from Cyprus and Greece like Anna Vissi, Evridiki and George Theophanous, amongst others, will perform popular hits for the crowd... 2 comments

Drugs remand

21/05/13
A 27-YEAR-OLD man from Yeri was remanded for six days yesterday for a drugs related case. He was arrested on Sunday in Nicosia after members of the drug squad raided his house and found 46 grammes of a white powder believed to be cocaine in his possession. Officers searched the house after obtaining a warrant, and found a metal crusher that had residue from a dry green herb inside, believed to be cannabis, along with the white powder believed to be cocaine. Police also confiscated two precision scales. He was taken before the Nicosia District Court yesterday which ordered his remand... Read on

Water woes

21/05/13
LARNACA Water Board announced yesterday that due to an unexpected problem to its main pipeline, water pressure would be reduced in the district, seriously affecting areas with a high altitude. According to a statement from the Water Board, the main pipeline has a diameter of 700mm while the substitute pipeline has a diameter of 400mm, causing the reduction in water pressure. “The Water Board is making every effort to repair the damage within the next twenty-four hours to restore normal water supply to the city of Larnaca as soon as possible,” a statement said, adding “we apologise for the inconvenience... 3 comments

Fotiou heads to Moscow

21/05/13
DEFENCE Minister Fotis Fotiou departs for Moscow tomorrow to discuss issues of mutual concern and bilateral relations with his Russian counterpart Sergei Shoigu.The two ministers are expected to discuss security and defence matters, developments in the Middle East, and bilateral ties.Fotiou will also meet the Head of the State Duma’s Defence Committee Vladimir Komoedov.He will address an international conference on European Security, expected to be attended by a series of high-ranking officials, including Russian Foreign Minister Sergey Lavrov, Defence Ministers from various countries, OSCE Secretary General Lamberto Zannier and NATO Deputy Secretary General Alexander Vershbow... Read on

Further raid on BoC possible

By Elias Hazou 19/05/13
THE Bank of Cyprus, touted pillar of the economy, may yet stay afloat - but at what cost? If the lender’s consolidated balance sheet - released this week - is anything to go by, it’s likely going to take many more billions to recapitalise the bank to a degree that’s satisfactory to regulators. And given that for the moment a raid on deposits or ‘bail-in’ is virtually the bank’s only way to raise capital, big savers can expect a much larger haircut. A crew cut, more like it, say some.It’s plausible that the haircut on uninsured deposits - so far 37.5 per cent - could shoot up to 60 per cent, speculates one leading economist... 11 comments

Tales from the Coffeeshop: Hallelujah, the Cyprob makes a welcome return

19/05/13
REJOICE, rejoice and hallelujah, the Cyprob is back. Everyone’s favourite problem has returned to our sun-kissed shores, putting the smile back on our politicians’ faces after some very difficult months, giving our freedom-fighters a reason to get out of bed in the morning and setting off the flow of the sexual juices of our journalists.I thought I would never say this but, like everyone else, I missed it and for a while I was anxious that it would never come back. Existence was empty and meaningless in the last 12 months, the Cyprob had disappeared from our lives replaced by the all-destroying economic problems and the malicious presence of the troikans, compared to whom Big Bad Al is a cuddly teddy-bear... 12 comments

'Why did ministers not blame bankers?'

19/05/13
CYPRUS’ current predicament was caused by greedy bankers maximising their profits irrespective of risk, former finance Kikis Kazamias said yesterday. “It must finally be understood that the operative cause in creating the problem (leading to Cyprus’ bailout) has been bankers’ unbridled desire to maximise their profits, (and) to a large extent turning those organisations from banks to investing bodies, concentrating a great risk, (and) buying dangerous products as the Greek bonds were at the time.”Speaking of his two consecutive successors, Kazamias said he was surprised by their “diligence in their assessments of not referring to the bankers’ actions during the time in question... 8 comments

State provides €4m for student grants

By Peter Stevenson 19/05/13
THE EDUCATION ministry has announced it would be granting €4 million in student grants for those studying at state-run and private universities for the current academic year... 3 comments
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