Our view: Safeguarding foreign firms must be a priority

2011-11-27

HAVE OUR politicians, in their great wisdom, decided that they no longer want Cyprus to be an international business centre? Or have they not realised yet that their unpredictable decisions combined with their failure to provide a financially stable environment could eventually force international businesses to re-locate. The consequences of an exodus would lead to a drastic contraction of the economy, as the sector is by far the biggest net contributor to our GDP.

Tales from the coffee shop: Pontificating Paphite thunders back into view

2011-11-27

WE WERE overjoyed to see the unlikable former foreign minister and AKEL defector, Yiorgos Lillikas back in the political spotlight. Nobody knows how long the pontificating Paphite will be able to hog the limelight, but we can only hope it will be no longer than the last time an opportunity presented itself, because he is sufferable only in small doses.

The latest opportunity was provided by the attorney-general who decided to take legal action against Yiorgos over decisions he had taken as commerce and industry minister in the Ethnarch’s government in 2003. Before he was made foreign minister, forging strategic alliances with big powers and turning the screw on the Turks, he honed his diplomatic skills by haggling with cow farmers.

Orphanides: economy on ‘the edge of the precipice’

2011-11-27

CYPRUS needs an effective fiscal consolidation plan to regain trust of the markets, but failure to do so will trigger an “exceptionally unpleasant” downward spiral, Central Bank governor Athanasios Orphanides said yesterday.

Orphanides said delays in addressing economic problems would ultimately lead to painful cutbacks and steep taxes, impacting Cyprus’ role as an international finance centre.

“It is the obligation of all to support an adequate fiscal consolidation package,” Orphanides said.

“If we also fail this time to apply a credible package of measures, Cyprus will be in an exceptionally unpleasant situation with profound economic and social implications for our future and that of our children.”

Businessman in custody on fraud charges

2011-11-27

A HIGH-PROFILE businessman and his associate were yesterday remanded in custody for seven days in connection with property fraud worth €6.0 million.

Lambros Christofi and his associate Giorgos Constantinou were arrested on Thursday.

Both deny any connection to the alleged fraud.

The remand hearing took place on Friday, but the court reserved its decision until yesterday.

Police told the court that the suspects stole €6.0 million using their position as executive directors of a company, Advantage Capital holdings Plc.

Christofi is the founder of the Christofi Group, which is currently involved – according to its website – in many industries including finance, real estate management and development as well as food and beverage outlets.

Attack on house of ref in Omonia case

2011-11-27

A REFEREE involved in a controversial decision to ban the coach and chairman of Omonia football club complained to police on Friday that a window at his Larnaca home was smashed by a stone hurled at his house.

Christos Elia told police that he had been sitting in the kitchen when he heard glass shattering in the living room.

The ref found the stone in the living room but saw or heard no one outside.

Police scoured the area around the house for clues but found nothing.

Investigators speculate that the stone was hurled by someone passing by on a motorbike.

Police said the ref refused to give a statement but asked for security measures to be taken.

First steps to getting help for cerebral palsy sufferers

2011-11-27

RUNNING from one activity to the next is the daily life of any parent but running from one therapy to the next for an indefinite number of years is the life of a parent who has a child suffering from cerebral palsy.

The issue will be the subject of the first conference of its kind, which is taking place tomorrow, and focuses on informing parents what treatments are available in Cyprus and worldwide.

“It’s an endless process of running about taking him from speech and occupational therapy to physiotherapy,” said Yioula Pitsalli, speaking of her eight-year-old son Nicolas.

Pitsalli is organising the conference with Angalia Elpidas secretary of the association set up to confront the situation.

Mari criminal investigation nearly complete

2011-11-27

THE attorney-general is very close to announcing criminal prosecutions in connection with the July naval base blast that killed 13 men, it was reported yesterday.

According to the Athens News Agency, examination of the sizable case file is almost complete and possibly on Monday, Attorney-general Petros Clerides will convene a meeting with investigators to discuss the case.

The July 11 blast was the result of the explosion of 98 containers holding munitions originating from Iran and bound for Syria, which were confiscated in 2009 and were exposed to the elements for over two years. 

An independent inquiry found President Demetris Christofias personally responsible for the tragedy, together with the former ministers of defence and foreign affairs.

Ayia Napa cafes gutted in blaze

2011-11-27

A FIRE that broke out in the early hours yesterday destroyed three shops in Ayia Napa, police said.

No one was hurt in the blaze, which started at around 3 am in a cafeteria in the Limanaki area and spread to the two other shops.

Police and fire experts investigating the cause of the fire did not rule out any possibilities, including arson.

The owners told police they have no differences with anyone, a spokesman said.

Only one of the three establishments was covered by insurance.

Guardsmen injured in crash

2011-11-27

A 19-YEAR-OLD conscript was in critical condition yesterday after he sustained head injuries in a car crash in Dhekelia, Larnaca.

Three other soldiers travelling in the car were also hurt, police said.

The accident happened at around 3 am on the Dhekelia to Protaras road.

At some point near Xylophagou, the driver apparently lost control of the vehicle, crashed into the guard rail and ended up in a ditch.

The four were rushed to Paralimni hospital but due to the seriousness of his condition, the 19-year-old was transferred to Nicosia general hospital.

One was kept for observation while the other two were treated and released.

Pakistan stops NATO supplies after raid kills up to 28

2011-11-27

NATO helicopters and fighter jets attacked two military outposts in northwest Pakistan near the Afghan border on Saturday, killing as many as 28 troops and plunging U.S.-Pakistan relations deeper into crisis.

Pakistan retaliated by shutting down vital NATO supply routes into Afghanistan, used for sending in nearly half of the alliance’s shipments by land.

The attack is the worst incident of its kind since Pakistan uneasily allied itself with Washington immediately following the Sept. 11, 2001 attacks on U.S. targets.

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.