Daily Archives: February 13, 2007

Archives February 13, 2007 posted by

Central Bank: no question of devaluation

CENTRAL Bank Governor Christodoulos Christodoulou said yesterday there was no chance of devaluation of the Cyprus pound prior to eurozone entry.

The Governor’s comment came on the day that Cyprus announced it would today or tomorrow be making its formal application to join the eurozone on January 1, 2008.

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Formal euro application this week

CYPRUS will formally apply this week to join the eurozone in 2008, a goal the European Union has said the island is well on track to achieve.

Finance Minister Michael Sarris said yesterday the formal letter, signed by himself and the central bank governor, would be sent today or tomorrow at the latest.

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Oil search could take years

OIL exploration off Cyprus could take years before yielding definitive proof of the existence of hydrocarbons, President Tassos Papadopoulos has said in his first comment on the oil and gas row.

Papadopoulos made the statement in an interview published in Greek newspaper To Vima on Sunday.

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House prices up

HOUSE prices on the island rose by 2.6 per cent last month, bringing the cost of the average home to £93,288.

The figures were released by the BuySell Home Price Index, which was created and is updated monthly on behalf of BuySell Cyprus Real Estate by the independent economic research organisation S. Platis Economic Research.

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Synod agrees to create new districts

THE HOLY SYNOD yesterday increased the number of Bishoprics and Suffragan Bishoprics to 12.

The decision was taken during a meeting of the Synod, held at the Archbishopric in Nicosia, to establish six more Church districts, Constantia, Tamassos, Myrianthousi, Trimithounta, Karpasia and Arsinoe.

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Probe ordered after policeman shoots fleeing suspect

A 45-YEAR-old Paphos police officer was yesterday under investigation after he shot and injured a Syrian man at the end of a chase.

The man was shot from behind and was unarmed.

The incident occurred on the Chlorakas-Kissonerga road on Sunday evening when the officer, one of the force’s ‘Z’ squad motorcyclists, spotted a vehicle that had been reported stolen last June.

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Cyprus considers court action if EU forces through direct trade

THE CYPRIOT government is prepared to go to court over the possible establishment of direct trade regulations between the EU and the north, according to Politis newspaper.

The paper said yesterday the government would consider action if the European Commission was not prepared to change its proposal for the establishment of direct trade between the north and EU member states.

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Recent rains are ‘not enough‘

RECENT rains have not made any difference to water levels in the island’s reservoirs, Agriculture Minister Fotis Fotiou said yesterday.

Fotiou said it was estimated that 14 million cubic metres were needed, while the reservoirs contained only six million cubic metres.

He said it was the government’s aim to purge the island of its “drug addiction to the weather”.

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Interpreter who fled Iraq ends up in Cyprus jail

A MAN who fled for his life after working with the US army in Iraq, has been jailed by a Nicosia Court after admitting to entering the island illegally and owning a false passport.

The 28-year-old was arrested at the Ledra Palace checkpoint on January 15 when he tried to cross into the occupied north with a fake Portuguese passport bearing the name Armando Victor.

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