Daily Archives: November 12, 2008

Archives November 12, 2008 posted by

Banks announce shock interest cut

BOWING to public and political pressure, three commercial banks yesterday announced an interest rate cut on loans.

Bank of Cyprus, Marfin Laiki and Hellenic Bank all said they were slashing interest rates by 0.5 per cent on all loans linked to the base rate of the European Central Bank (ECB). The reductions take effect today.

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Archives November 12, 2008 posted by

Saving water saves money – for some

Sir,

I have put in place several water saving measures and I am pleased to say that my average saving in consumption over the last five billing periods is 74.4 per cent.

It has obviously cost me but the savings are worth it. It therefore infuriates me when every day I see people wasting the water I have saved.

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Archives November 12, 2008 posted by

Banks defiant on stifling rates

COMMERCIAL banks yesterday brushed aside mounting calls for them to slash stifling interest rates on housing and business loans. Their hands are tied, they say, because right now they can’t afford to lend cash with impunity.

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Convergence of views

‘If we had the same positions right from the start, the problem would have been solved before we began’

PRESIDENT Demetris Christofias and Turkish Cypriot leader Mehmet Ali Talat yesterday continued direct talks on the issue of the legislature.

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Tourism bosses seek to assess impact of recession

BOOKINGS from the UK for next year will most likely be down, but Cyprus is doing a bit better than some other countries, Cyprus Tourism Organisation (CTO) Director General Phoebe Katsouri said yesterday.

Katsouri was speaking from the World Tourism Fair in London, where tourism bosses hope to gauge to some extent the effects of the global crisis on next year’s arrivals.

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Four held after cocaine bust

FOUR men were yesterday remanded in custody in connection with a cocaine bust.

The Larnaca district court remanded two of the men, aged 62 and 32, for eight days custody and the other two, aged 32 and 43, for six. All four are accused of conspiring to commit a felony and the illegal possession of drugs with the intent to supply.

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Baby critical after second-floor fall

A 19-MONTH-old baby is in critical injury after he fell from the second floor of his apartment block yesterday lunchtime, police said.

Police are investigating how the little Russian boy toppled out of his bedroom window at around 12.50pm on Galileos Street in Larnaca.

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Final decision on Limassol Conference Centre in coming weeks

THE final decision on whether the planned Limassol Conference Centre will be finished on time to host the 2012 Cypriot EU Presidency meetings and conferences will be reached within the month. A meeting between involved stakeholders and the Ministers of Commerce and Finance has been set for November 17, and a clear picture of when the conference centre will be ready is expected to emerge.

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