Author Archives: Poly Pantelidou

Archives June 1, 2013 posted by Poly Pantelidou

Car Rally

THE THIRD international classic and historical car show will take place today from 11am until 5pm at the Constanza Moat in Nicosia.
The event is being organised by the Cyprus Classic Car Touring Club in relation to the activities of the Aphrodite FIVA world rally.
The exhibition will feature the cars participating in the world rally and also cars belonging to club members.  Experts will vote on the best classical car and the public will vote for the best car in the show.
Participants are requested to donate food at the entrance to support the community markets run by the Angaliaso charity foundation.
For participation call 99677477 

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Archives June 1, 2013 posted by Poly Pantelidou

Motorcyclist killed

A 19-YEAR-OLD man was killed on Thursday night and another is fighting for his life after the motorcycle they were riding slammed into a wall in Larnaca.
Police said Giorgos Filiastides apparently lost control of his motorcycle and hit a wall on his left hand side on Markos Drakos Street.
The accident happened at 11.10pm, police said.
His passenger, Giorgos Alambritis, 19, from Aradippou suffered severe head injuries. According to Larnaca Police spokesman Christos Andreou, neither was wearing crash helmets.
“The injuries both men suffered were to their heads and if they had been wearing helmets then we would probably not be in mourning today,” he said.

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Archives June 1, 2013 posted by Poly Pantelidou

President asks ETEK advice on title deeds

PRESIDENT Nicos Anastasiades has asked the Cyprus Scientific and Technical Chamber (ETEK) for its help in solving the title deeds issue by suggesting that architects or developers could give final approval for work completion, rather than having to wait for local authorities.
During a meeting at the presidential palace with ETEK president, Stelios Achniotis, Anastasiades raised the issue of drawn-out procedures relating to title deeds. There is a current backlog of 100,000 unissued, some of which go back two decades.
The issue was discussed in the context of attracting investment and curbing unemployment, Anastasiades asked for suggestions from the chamber on how the private sector could be utilised in helping to speed up procedures.

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Archives June 1, 2013 posted by Poly Pantelidou

Hellenic posts €31.7 million loss

HELLENIC Bank posted a €31.7 million loss in the first quarter, taking a hit from higher provisioning for bad loans and from the sale of its Greek business as part of an international bailout for Cyprus.
Hellenic was one of three Cypriot banks which sold their Greek branches to that country’s second-biggest lender Piraeus Bank in March under a deal brokered between Cypriot authorities and international lenders to ring-fence the Cypriot banking system and prevent its chaotic bailout spilling over to Greece.
Hellenic, in which the Church of Cyprus is a major shareholder, said it booked a €10.2 million loss from the sale of its Greek unit in a deal valued at €29 million.

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Archives June 1, 2013 posted by Poly Pantelidou

Jobless rate hits new high

CYPRUS’ jobless rate climbed to 15.6 per cent in April, compared with 11.2 per cent last year, Eurostat said yesterday.
In absolute numbers that translates to 71,000 people.
More analytical data reveal that unemployment for men in Cyprus, in April, stood at 15.8 per cent, at 15.2 per cent for women and at 32.7 per cent among young people under 25 years of age (March data).

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Archives June 1, 2013 posted by Poly Pantelidou

Court freezes former Laiki strongman’s assets

A CYPRIOT court has frozen assets worth around €5.3 billion belonging to former Laiki Bank strongman Andreas Vgenopoulos and two other people, the Central Bank (CBC) announced yesterday.
The interim court orders, which have a global reach, were secured by the administrator overseeing the resolution of Laiki, formerly the island’s second-biggest lender.
The court froze assets belonging to Vgenopoulos and former Laiki CEO Efthimios Bouloutas worth €3.79 billion and those belonging to former board member Kyriacos Magiras worth €1.5 billion.
It also banned Vgenopoulos’ Marfin Investment Group (MIG) Holdings SA from making any payments or transfers to the benefit of the three men.
A hearing concerning the orders will be held on June 11.

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Archives June 1, 2013 posted by Poly Pantelidou

‘We made sure dinner was just a social occasion’

THE GOVERNMENT has averted the possible politicisation of Thursday’s first encounter of the two leaders at a dinner hosted by the UN in the buffer zone, the spokesman said yesterday.
Christos Stylianides said steps taken to avert the dinner becoming a political occasion had been successful and the government was on track with preparations for peace talks to be launched in the autumn.
“There were indications that some people gave such importance and gravitas to the dinner so that it could symbolise the beginning of the (peace) process,” Stylianides added. Although he did not elaborate, it is well known the government was displeased with what it called attempts by UN Special Representative Alexander Downer to play up the dinner as a political event.

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Archives June 1, 2013 posted by Poly Pantelidou

Huge split at EVROKO

SIXTY members of the European Party (EVROKO) yesterday announced their departure from the party citing party leader Demetris Syllouris’ support for Nicos Anastasiades in the recent presidential elections as the main reason.
Among those leaving are MP Nicos Koutsou, the party’s general-secretary, Stelios Americanos and member of the political committee, Eleni Vrahimi.
Their departure was announced at a press conference yesterday in Nicosia, during which Americanos told reporters that around 80 per cent of the party’s elected municipal councillors and the majority of the party’s active members had decided to leave.
He said that the main reason for the exodus was that they disagreed with Syllouris decision to support Anastasiades during the presidential elections.

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Archives June 1, 2013 posted by Poly Pantelidou

Tax office needs more resources, its chief says

CYPRUS is not currently in a position to comply with EU regulations concerning tax fraud and could find itself in deep trouble if it does not conform, according to the director general of the inland revenue department (IRD).
Speaking at the House Foreign and European Affairs Committee, Giorgos Poufos told MPs that Cyprus had no other choice but to implement the European Council’s decision on May 22 by taking measures regarding tax evasion and fraud.
He demanded that discussions begin immediately for the required legislation.

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Archives June 1, 2013 posted by Poly Pantelidou

New ways to obtain citizenship… if you have the cash

FOREIGN investors will now be able to obtain Cypriot citizenship if they bring in €5 million, have large bank accounts or perform certain business transaction on the island.
The cabinet approved the plan on May 24 enabling foreign nationals to gain citizenship if they meet certain criteria set out by the interior ministry, which has already received two applications.
“The new plan is a very positive move and although we are still at a very early stage we believe plenty of interest will be shown in the coming weeks and months,” a ministry spokesman told the Cyprus Mail yesterday.

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