Daily Archives: November 13, 2008

Archives November 13, 2008 posted by

Banks pledge to go easy on loans

FINANCE Minister Charilaos Stavrakis has secured a commitment from banks to show leniency to cash-strapped business and household borrowers if the global credit squeeze worsens, he said yesterday.

Stavrakis talked with bank bosses yesterday a day after they had pre-empted the meeting by announcing a last-minute base-rate cut of 0.5 per cent in interest.

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Archives November 13, 2008 posted by

Rate rises will cost Cyprus even more than oil spiral

AN INCREASE in interest rates on household loans will have an even worse effect on the Cyprus economy than the recent international oil crisis, the Finance Minister told Parliament yesterday.

Minister Charilaos Stavrakis also informed the House Finance Committee that the government could not intervene to convince banks to lower their interest rates.

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Ruptured aneurysm caused Paphos girl’s death

THE 12-year-old Paphos girl who died on Tuesday afternoon after complaining of a headache suffered a brain haemorrhage from a ruptured aneurysm, the state pathologist said yesterday.

Sophoclis Sophocleous said Andri Philippou had died due to the fatal bleeding caused by the burst aneurysm.

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Police hail success of neighbourhood cops

FIVE years ago community policing was only applicable to three districts. Today, over 12 areas, both rural and urban, have a community officer of their own.

“The programme has been hugely successful and we are trying to extend it throughout Cyprus,” police said.

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Ignorance is bliss…

REMEMBER that line from the Matrix, where Cypher sits across Agent Smith in a fancy restaurant, and is just about to spill the beans on Neo’s whereabouts? He looks down at his steak and says: “I know that this steak doesn’t exist. I know when I put it in my mouth, the Matrix is telling my brain that it is juicy and delicious! Ignorance is bliss.”

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Check the small print on your mortgage

ALL MORTGAGE holders should check their loan agreements with the banks to see if they are obliged to pay the higher interest rates being demanded, the Competition and Consumer Protection Service of the Ministry of Commerce said yesterday.

The Service issued a statement in response to the recent spate of letters from banks announcing the increased rates.

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Mesa Yeitonia recycling volunteers

MESA Yeitonia Municipality in Limassol has mobilised a team of citizen-volunteers to carry out a recycling-information campaign.

The campaign titled ‘Recycling at Mesa Yeitonia Municipality’ will take place between November 17 and 22.

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