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Archives April 16, 2013 posted by

Bomb hoax

Nicosia Supreme, Criminal and District courts were evacuated yesterday after a bomb-threat was called in at 9.20am, police said. Roughly 1,000 people were evacuated from the courts for around 90 minutes while a special police unit and sniffer-dogs searched all of the buildings. No traces of explosives were found.

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Archives March 27, 2013 posted by

Nicosia municipality worried it won’t be able to function

THE BAILOUT deal and continued closure of the banks are putting a financial stranglehold on Nicosia municipality and are putting the smooth running of its services at risk, it said yesterday.
Nicosia Mayor, Constantinos Yiorkadjis called on the government to exclude municipality accounts from being hit by a levy on deposits.
“The majority of the municipality’s deposits are in the Popular Bank and Bank of Cyprus and it is a possibility, that despite our efforts, we will be unable to meet our responsibilities,” he said.

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Archives October 13, 2012 posted by

Protecting home owners from bank seizure

THE GOVERNMENT has countered the troika’s proposal for the seizure and sale of properties held against bad loans after a period of 18 months, stating that it wants to protect residential property dwellers.

In its economic adjustment programme for Cyprus, under the heading ‘Regulation and supervision for banks and cooperative credit institutions,’ the troika advised that “strong efforts should be made to maximise bank recovery rates for non-performing loans, while minimising the incentives for strategic defaults by borrowers.”

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Archives January 4, 2012 posted by

New chief appointed to CPC

AFTER more than seven months of inaction the Cabinet finally appointed a new Commissioner for the Protection of Competition following the removal of its previous chief on May 25. 

Lawyer Loukia Christodoulou has now been appointed as Commissioner to see through the remainder of the current term expiring on April 17, 2013. 

The previous head of the Commission for the Protection of Competition (CPC), Costakis Christoforou, was removed on May 25 after the Supreme Court ruled his appointment was illegal. 

The court said that the state did not exercise due diligence in determining whether Christoforou, who was already receiving a pension from the state as well as an old-age pension, had the necessary qualifications stipulated by the law. 

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Archives October 25, 2011 posted by

Gaddafi: it might all have been different

Sic transit Muammar Gaddafi. When I was in school I used to wonder who Gloria Mundi was and how she had died, but it turned out to be my defective Latin. Sic Transit Gloria Mundi means: “Thus passes the glory of this world”. But still, it kind of fits, doesn’t it? Sic Transit Muammar Gaddafi.

Being Muammar Gaddafi must have been a bit like being Mick Jagger. You’ve been playing the same role since you were very young, and everybody loves you for it, at least to your face. You have actually become the standard by which all others aspiring to the same role are judged. And after a while, you start to believe that you really are Mick Jagger, and not just that guy from Dartford who can sing pretty well.

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