Daily Archives: November 2, 2011

Archives November 2, 2011 posted by

Peres due to arrive for state visit in Cyprus tonight

 

ISRAELI President Shimon Peres is due to arrive in Cyprus tonight on a state visit, which will include signing a number of bilateral agreements.

The official welcoming ceremony will take place at the presidential palace on Thursday morning.

It will be followed with talks between the two sides and signing bilateral agreements on research and development, archaeology and renewable energy sources.

During his stay on the island, Peres will also meet with Archbishop Chrysostomos, House President Yiannakis Omirou and main opposition DISY leader Nicos Anastassiades.

Police have taken strict security measures for the visit, mounting an operation spearheaded by the special anti-terrorist squad.

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Mari debate postponed again

 

PARLIAMENT yesterday postponed for Friday discussion of the findings of an inquiry into the July 11 blast that killed 13 men and incapacitated the island’s main power station.

The discussion was moved due to the Israeli president’s visit. Shimon Peres arrived on the island last night.

Lawmakers had initially decided to discuss the findings, which laid most of the blame for the blast on President Demetris Christofias, on October 13.

But after concerns over the length of the session — set to start in the afternoon and go on for around seven hours — MPs decided re-schedule for this month and break the debate in two – yesterday and today.

The debate will start tomorrow morning and is expected to last six hours.  

 

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The Greek haircut and the Cyprus real estate market

With the share price of one of the banks in Cyprus having fallen to a 12 year low, the repercussions of the 50 percent haircut on Greek bonds and now the possibility of Greece defaulting are devastating – and the Cypriot real estate sector is part of the problem.

 

BANKS lend approximately €0.90 of every €1.00 they take in deposits. The remaining €0.10 they hold as ‘liquidity’. Liquidity is a financial term that means the amount of capital that is available as cash at the request of the financial institution. Today, most of this capital is tied up in investments such as equities and bonds, which (theoretically) can be sold and converted into cash at the discretion of the bank.

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Banks sink on Greek vote bombshell

 

FRENCH banks and lenders exposed to Greece and other weak eurozone countries slumped yesterday after Greece’s leader said he would put a bailout plan to a referendum, raising the risk of a disorderly default.

Banking lobby group the Institute of International Finance reaffirmed its commitment to last week’s deal, but by 1540 GMT the European bank index was down 6.7 per cent at 132.40 points. That move reversed all the gains of last Thursday’s rally, when banks staged their biggest climb for 18 months after EU leaders and banks agreed to write off half Greece’s debt as part of a wider eurozone rescue plan.

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‘All of Europe is talking about APOEL’

WITH ninety seconds of normal time to go, it looked very much like APOEL’s remarkable European campaign had just suffered a potentially fatal blow. Having kept out the Europa league holders and two-time European champions for the majority of Tuesday’s Champions League game, an 88th minute penalty converted by Hulk had drawn Porto level in Nicosia.

As APOEL fans slumped back into their seats, trying to come to grips not only with conceding a late goal but also with the rather strange fact that they would now have to consider a 1-1 draw against Porto a disappointing result, the Cyprus champions showed once again why they have become the story of this year’s competition, writing arguably the brightest chapter of their history to date.

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Archives November 2, 2011 posted by

SALE LARNACA

Large 3 bedroom 4th floor apartment  in Faneromeni with title deeds. New kitchen with stainless steel appliances and new bathrooms . Furniture included. Bargain price 99,000 Euros (Negotiable). Private sale – Tel: 99672633.

 

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let paphos

Double storey villa in Peyia, unfurnished, 4 bedrooms, 3 bathrooms, large living – dining area, large verandas, 4 balconies. Panoramic sea and mountain views. Central heating and a/c. Private parking, Long lease. Tel: 26815534, 99459095, 9915598

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Ban confident a settlement can be achieved

UN Secretary-General Ban Ki-moon has urged the Cyprus leaders to move forward to the “endgame of negotiations” over the following two months, calling a new three-way summit for January.

“The sides have made some encouraging progress during these two days on some of the remaining core issues,” Ban yesterday told reporters at UN headquarters, flanked by President Demetris Christofias and Turkish Cypriot leader Dervis Eroglu.

“This has given me confidence that a comprehensive settlement can be achieved. Both leaders have assured me that they believe that they can finalise a deal,” he added.

The leaders met Ban and senior UN officials in Long Island, New York on Sunday and Monday, the fourth such summit with the UN chief as part of ongoing reunification talks.

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Our View: Papandreou call for a referendum constitutes great political gamble

MARKETS fell dramatically yesterday after Monday night’s announcement that Greece’s bail-out would be put to a referendum. The normality that appeared to have been restored to the markets last Thursday was short-lived indeed, Prime Minister George Papandreou’s unexpected decision throwing into question the deal bashed out by eurozone leaders and sending shock waves through the global economy.

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