Daily Archives: July 23, 2010

Archives July 23, 2010 posted by

Euro Cypriot soccer success continues

Cyprus could be set to have an unprecedented four teams competing in European competition this season. Omonia, APOEL, Anorthosis and Apollon are all just two wins away from the group stages of their respective competitions and a place at the top table of European football.

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Archives July 23, 2010 posted by

Journalists wanted

The Cyprus Mail is seeking a journalist to join its Nicosia office.

Applicants must be fluent in English and have a good working knowledge of Greek.

Previous experience of working in the media would be an advantage, but is not essential.

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Archives July 23, 2010 posted by

Cyprus to become major oil trading hub

ONE of the world’s biggest independent energy trading companies announced plans yesterday to build a major oil products import and distribution terminal in the industrial area of Vassiliko (Larnaca).

The Vitol Group – which in 2009 shipped 315 million tonnes of crude oil and oil products, turning over US$143 billion – announced that wholly-owned subsidiary Vitol Tank Terminals International (VTTI) is set to start work by early next year on a €100 million state-of-the-art oil product terminal facility at Vassiliko, with completion firmly planned in the second half of 2012.

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Finding it hard to deliver on pension promises

THE FUTURE of pension systems is increasingly being discussed all over Europe. Europeans live longer, have fewer children and tend to leave the labour market significantly before the typical pensionable age of 65.

In Cyprus, they tend to leave at 63.5. Therefore, where, at present, there are four people of working age for every person over 65, by 2060 there will be just two people of working age for every person over 65.

The financial and economic crisis has seriously aggravated these challenges, making it even harder for all systems to deliver on pension promises. It is more than obvious that, on present trends, the situation is untenable. And it is also evident that something has to be done to reverse it.

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Army scrambles to solve explosives theft

AUTHORITIES yesterday mounted a large-scale investigation into the theft of 172 kilos of explosives from an army depot in Limassol – an act that exposed the insufficient security measures of such a sensitive installation.

“It is a very serious case and investigators have been working on it since yesterday (Wednesday) afternoon,” Defence Minister Costas Papacostas said. “It is imperative that this case is fully resolved.”

Police questioned the Palodia unit’s personnel while its surrounding area, west of Limassol, was combed in search of evidence.

Reports said the perpetrators gained access by cutting the fence. There were three locks on the door.

Initial reports on Wednesday spoke of some 300 kilos of explosives.

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Stavrakis: economy’s problems could be easily solved

STANDARD and Poor’s decision to place Cyprus on review for possible downgrade will not mar plans to tap international markets later this year, Finance Minister Charilaos Stavrakis said yesterday.

“It does not affect the plans of the government,” Stavrakis said.

“Certainly lower ratings theoretically could marginally increase borrowing costs, but …our ratings remain high in general,” he said.

S&P placed Cyprus on review for possible downgrade on Wednesday, saying the A+ sovereign credit rating could be cut within three to four months if the government failed to act to improve its finances.

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State revenue down €27m in June

STATE revenues plunged €27.18m last month, data released by the Inland Revenue Department (IRD) revealed yesterday.
According to the data, €101.49m was collected in June, compared to €128.67m in June 2009.
Total collections by the IRD for January-June 2010 however show a slight increase of 1 per cent to €721.043m compared to 2009.
Corporate tax revenue showed a significant drop of 25 per cent, or €38.11m
Employee income tax revenue increased 5 per cent or €11.86 million reaching €252.24m.
Self-employed income tax revenue also increased by 5 per cent or €1.05m reaching €20.23m.
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Broad condemnation of racist attack

POLITICAL parties and organisations yesterday condemned an attack by what appeared to be nationalist elements against a 25-year-old Nigerian man.

The man was chased and beaten in central Nicosia on Tuesday night – the anniversary of the 1974 Turkish invasion — by a club-wielding mob of youths wearing the T-shirts of nationalist organisation National Popular Front (ELAM).

ELAM has also condemned the attack and sought to deny the youths were affiliated to the organisation.

ELAM said the youths just happened to be wearing the same designed shirts.

The Action for Equality, Support and Antiracism (KISA) said yesterday that racist violence in general is an ingredient of ELAM’s ideology and action.

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Policeman only parked in disabled spaces to stop others from doing it

A POLICE officer caught on camera last month parked across two handicapped spaces a the Nicosia General Hospital claimed he did to so prevent other drivers parking there illegally.

Responding to publication of the photo, police said they had launched an investigation. A spokeswoman said there had been five complaints of non-handicapped cars parking in the handicapped spaces of the hospital that day.

An officer was sent to check it out and deal with the situation as well as handle some other matters in the area. He parked in the two handicapped spaces to prevent other non-handicapped drivers from using them and thus had saved them for drivers with disabilities.

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