Slap on the wrist from Ban Ki-moon

2010-11-19

UN Secretary-General Ban Ki-moon yesterday urged the leaders in no uncertain terms to pick up the pace in the Cyprus peace process which, he said has lost momentum.

“The peace talks on Cyprus were losing momentum and needed a boost. That is why I invited the leaders here. Only the leaders can give the talks a boost,” Ban said in a brief statement following a three-way meeting with President Demetris Christofias and Turkish Cypriot leader Dervis Eroglu at the UN headquarters in New York.

The UN chief said so far the talks were “without clear progress or a clear end in sight,” but added that the message of urgency was driven home to both sides.

“I believe the leaders understand this. I hope today’s meeting has helped restore momentum,” he said.

The slide is on: Down Down Down…

2010-11-19

I WAS interviewed on October 22, about the potential repercussions of a downgrading of the Cypriot Economy by credit rating agencies. Back then I argued that the downgrading could be avoided if urgent action was brought to bear by the government to resolve the spiralling budget deficit. I also argued that any downgrade would not be dramatic, as most agencies would wait to see if the new 2011 budget introduces radical steps to redress the balance between government spending and expenditure before launching a more radical reduction to our credit score.

Four arrested after attack on Indian man

2010-11-19

A 35 YEAR old man of Indian descent was assaulted and beaten in Nicosia on Wednesday night by a gang of four men.

According to police, at around 10pm four men jumped out of a car on Rigenis Street and attacked the Indian man with a plastic pipe, causing minor injuries to his left hand.

The four men were spotted in the same vehicle not far from the scene by police officers who pulled them over, and after searching the car allegedly found a plastic pipe, a bat, pepper spray and a piece of wood. The young men are all from Nicosia and are between the ages of 18 and 22.

13 years for ‘brutal and heinous crime’

2010-11-19

A MAN was sentenced to 13 years in prison yesterday for the attempted murder of Kyriacos Panayis Kosiaris, who was shot five times from close range in the face and neck last year.

The Criminal Court, convening in Larnaca, imposed a 13-year sentence on English Cypriot Christos Tsekouras, 52, from Aradippou, after finding him guilty of the attempted murder of 41-year-old Kosiaris from Peristerona, as well as causing grievous bodily harm and possession and use of a shotgun and explosive material.

‘Defence budget getting smaller and smaller’

2010-11-19

CONCERNS were voiced yesterday over the Defence Ministry’s 2011 budget, which opposition DISY said was smaller compared to previous years.

DISY’s Soteris Sampson expressed his concern over the fact that the ministry’s budget, which was discussed in a closed session at the House Defence Committee, was being gradually reduced in recent years.

“The state’s defensive abilities are of vast significance, which is why we are not satisfied with this year’s budget, which again is reduced despite the Defence Committee’s position that these budgets shouldn’t be reduced,” said Sampson.

“DISY feels these reductions are putting the NG’s training in danger, as well as our defensive abilities, and force morale.”

Unpaid nurses call flash strike

2010-11-19

THE NURSES of the General Hospital in Paralimni went on strike yesterday morning for one hour demanding that the Minister of Health pays them money still owed to them from June. The unplanned strike occurred between 10am and 11am and involved 154 nurses.

President of the Local Committee of Nurses of Paralimni General Hospital, Marios Polydorou, said: “We staged a spontaneous one-hour stoppage because, since June, we have not been paid our shift allowance, which covers our afternoon and night shifts.” Polydorou added that some staff continued to work during the strike so that patients would be cared for.

Farmers want state help to go solar

2010-11-19

FARMERS yesterday called for incentives to create photovoltaic systems.

According to the general secretary of farming association Panagrotikos, Nicos Karyos, the association has sent a written plea to the commerce and agriculture ministries asking for discussions over how to implement a specific policy.

State trying to ‘trick’ deputies on migrant benefits

2010-11-19

THE Chairman of the House Institutions Committee yesterday accused the government of trying to fool parliament into approving funds for migrants and asylum seekers, by including them in the 2011 budget under funds for refugees and the displaced.

EVROKO’s Rikkos Erotokritou said his Committee had continued to discuss the issue raised last week, over what he claimed were excessive budgetary amounts for the support of migrants and asylum seekers.

The Labour Ministry was seeking €30 million but this also included the creation of a new facility to house asylum seekers.

Out of the frying pan into the car

2010-11-19

GREEN Party MP George Perdikis yesterday tabled a law proposal to make it obligatory for restaurants, hotels and other catering companies to save their frying oil so that it can be recycled in to fuel and electricity.

“Pan oil is a renewable source of fuel,” said Perdikis, after submitting his proposal to the House Environment Committee. “But while this energy source can produce fuel for cars and also electricity, it is not used in Cyprus; not in a legal way, anyway.”

According to the MP, hundreds of tons of used pan oil from areas such as the National Guard and hotels are either being disposed of or picked up by dubious companies – as there’s no legal framework – and no one knows where it goes.

Marfin shareholders back capital boost

2010-11-19

SHAREHOLDERS of Cyprus-based Marfin Popular Bank yesterday approved plans to boost its capital with a €488.6 million rights issue and a convertible securities issue worth up to €660 million.

The shoring up of Marfin’s capital comes ahead of anticipated stricter global rules by regulators to prevent a repeat of the 2008 financial crisis. After both operations, Marfin Popular’s Tier 1 will rise to 13.9 per cent from 9.8 per cent, Marfin CEO Efthymios Bouloutas said.

The issues would also enable the bank to meet more domestic demands as Cyprus emerges from recession into recovery, he said.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.