Daily Archives: June 13, 2012

Archives June 13, 2012 posted by

Baghdatis and Murray crash out at Queen’s

MARCOS Baghdatis was beaten in the second round of the AEGON Championships at Queen’s Club in London on Wednesday, the Cypriot going down 6-3 4-6 6-4 to Lukasz Rosol of the Czech Republic.

Rosol broke Baghdatis twice on his way to the opening set before the Limassol native fought back to level the match at one set all.

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Mixed messages on a possible bailout

 

THE government said yesterday it had not taken any decision to apply for a European Union bailout but said it remained one of its options ahead of the recapitalisation of its second-largest bank this month.

“I want to be clear concerning various reports which suggest the Republic has decided to go to the (EU) mechanism, or that there have been contacts to this effect; I have to say there is no such decision or any investigation of intent concerning admission to the mechanism,” government spokesman Stefanos Stefanou said after a cabinet meeting yesterday afternoon.

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Our view: Now that bailout is certain, we should ask for it sooner, not later

NOW THAT we are no longer in denial about the possibility of applying for an EU bailout, we should perhaps give some thought to the timing which could prove of critical importance. As we have accepted that we will take the plunge, the sooner the better, even if this goes against the government’s philosophy of leaving every important decision to the last minute.

Speaking on a radio show yesterday morning, DISY deputy leader Averof Neophytou, correctly raised the issue of timing, saying that ideally, we should have applied at the same time as Spain, as we would have been treated in a similar way. We would still have had to take measures – probably be told to cut the public sector payroll – but at least everything would have been done in a controlled and measured way.

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CY to be given €5.3m to cover Turkish air ban

THE CABINET yesterday approved a payment of €5.3 million in compensation to Cyprus Airways for losses incurred due to the Turkish ban on Cypriot aircraft over their air space.

The airline has to pay extra fuel costs to circumvent Turkish air space.

“The Cabinet today approved the payment of €5.34 million as compensation for the year 2011 to Cyprus Airways which due to intense competition is constantly at a disadvantage compared to other airlines because of the ban on overflights in Turkish airspace, which raises the cost of flights because of the longer routes,” said government spokesman Stefanos Stefanou.

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Luxury hotel battles EAC over noise from generators

 

THE FIVE-STAR Le Meridien Limassol Spa Resort is battling it out in court with the Electricity Authority of Cyprus (EAC) over the noise from generators at Moni power station.

Moni has come into use more extensively since the main power station at Vassilikos was destroyed in the naval base blast at Mari nearly a year ago. The hotel says the noise has been bad enough until now with 30 generators but plans to install 100 more were unacceptable, it said, and it was objecting. 

The dispute is due to be settled in court on June 22 when a judge will rule on the hotel’s request to a halt deployment of the new generators. Residents of nearby Pyrgos are also upset. 

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Meeting to view snags in China airport plan

THE PROPOSED €600m Chinese investment at the old Larnaca airport appears to have hit a number of economic and legal snags which will be discussed tomorrow at a key meeting between representatives of the state, the company and Hermes Airports.

Communications Minister Efthymios Flourentzos yesterday acknowledged the proposal from Chinese-interest company Far Eastern Phoenix (FEP) to extend its original 19-year agreement with Hermes Airports for a further 31 years with the state is causing a few problems.

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Qatari investment 'already history'

THE DEATH knell of a multi-million Qatari investment in Nicosia was sounded in Parliament yesterday after legislators were finally told that Cyprus was thrown a lowball offer for a prime site in the heart of the city.

Cyprus had offered the site – just opposite Hilton hotel – for €50 million even though the land registry had valued it at €145 million and a private state-appointed land surveyor placed it at €135 million. 

The Qatari Diar Real Estate Investment Company – wholly owned by the Qatar Investment Authority – requested that the land be valued at €32 million, the House Watchdog Committee was told yesterday.

“The investment is already history,” the head of the House Watchdog Committee Georgios Georgiou said.

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Around €1 million in Egyptian assets frozen

THE AUTHORITIES have frozen around one million euros in assets on the island as part of an ongoing investigation into the financial irregularities of members of the former regime of Egyptian ex-president Hosni Mubarak, Justice Minister Loucas Louca said yesterday. 

Speaking to the state broadcaster, Louca said all countries of the Arab Spring, including Tunisia, Libya and Egypt, have requested legal assistance from Cyprus, either directly or through the EU, to locate funds that longstanding dictators had siphoned from state coffers over a long period of time. 

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Details of Israel energy deal are being fleshed out

ISRAEL AND Cyprus are “slowly putting flesh on the bones” of their strategic cooperation in the field of energy, Commerce Minister Neoclis Sylikiotis said yesterday on his return from a two-day visit to Israel. 

Sylikiotis noted “Israel’s readiness and willingness to develop multilevel and multifaceted strategic cooperation with Cyprus” in the fields of energy, tourism and trade.

On energy, the minister discussed the possibility of obtaining natural gas from Israel’s offshore fields to meet Cyprus’ need to produce electricity at a lower cost, should Cyprus need an interim solution until it is able to extract its own natural gas from Block 12 in its exclusive economic zone.

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Afterlife ritual leads to death

A YOUNG Cypriot died in London after consuming poisonous yew tree seeds in what is believed to have been a ritual to experience the “afterlife”.

Friends and family of the 24-year-old victim Antonis Kyriacou, said that he studied cosmology and believed that he would experience the afterlife if he consumed yew seeds when two planets were aligned, an inquest heard.

The young Cypriot was found dead in his home in Covent Garden on March 8, the day before the planets would have aligned.

The London Evening Standard reported that “a police analysis of his computer found he had searched for information about yew trees. There were no suspicious circumstances”.

The coroner ruled that Antonis had suffered a cardiac arrest as a result of consuming the seeds.

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