Posts by tag: debate

Archives February 23, 2013 posted by

Anastasiades in talks to secure bridge loan

THE FRONTRUNNER in Cyprus’ presidential election runoff said he has been in touch with governments and unspecified funds for a bridge loan to ensure the island does not run out of cash before it secures an international bailout.

DISY leader Nicos Anastasiades, who polled over 45 per cent in last Sunday’s first voting round and is the favourite to win tomorrow’s runoff, told Reuters various parties, including “governments and funds” which he did not identify, had been “sounded out” for a short-term loan.

The “one or two month” loan would not supplant a bailout for which Cyprus is in talks with the European Union and the International Monetary Fund, he said.

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Archives January 30, 2013 posted by

Sports tourism generates €20m in 2011

THE Cyprus Tourism Organisation (CTO) is committed to strengthening sports tourism further, its chairman said yesterday, as visitors in 2011 recorded a 19 per cent rise.

CTO chairman Alecos Orountiotis said sports tourism was an asset in its portfolio of alternative forms of tourism, attracting almost 12,900 visitors in 2011 and generating some €20 million in revenues.

“This is why we are determined to work harder, to exert greater collective effort, so that we strengthen the sector of sports tourism,” Orountiotis said.

According to a survey carried out by the CTO, football has the lion’s share when it comes to visitor numbers – 5,918 – followed by swimming with 3,226 and cycling with 2,212.

The average length of stay was around 10.7 nights.

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Archives January 29, 2013 posted by

The lows and new lows of the election campaign

ONE MIGHT be forgiven for not noticing the election campaigns currently underway ahead of next month’s presidential election. 

This may be one of the most challenging periods in the Cyprus Republic’s short history but the main candidates in the race appear to be adopting a somewhat ‘light’ approach to the campaign, focusing less on solid policy positions and more on taking wild and off-key pot shots at each other. 

Perhaps focus on the second public debate scheduled for last night between the three main contenders- Nicos Anastasiades, Stavros Malas and Giorgos Lillikas- had something to do with the low-calibre exchanges during the day. 

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Archives December 16, 2011 posted by

Britain to keep bases in Cyprus

BRITAIN will retain both its military bases in Cyprus following the completion of a review of their operations by Lord Ashcroft, its Defence Secretary Philip Hammond said yesterday.

The news will come as a huge relief to the 1,500 locally employed civilians that work on the bases and leaves Cyprus as the only significant accompanied military posting outside the United Kingdom.

In a written statement to parliament Hammond confirmed Britain’s “enduring commitment” to the bases, saying they had proved their worth during air operations in Libya and as a logistic hub for activities in Afghanistan.

“The sovereign base areas are in a region of geo-political importance and high priority for the United Kingdom’s long-term national security interests,” he added.

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Archives November 2, 2011 posted by

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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Archives October 14, 2011 posted by

Criminal charges to be decided on in four weeks

ATTORNEY-GENERAL Petros Clerides said yesterday that his office would announce in about a month’s time the people who will face criminal charges on offences surrounding the July explosion. 

Police have reportedly recommended nine people to be prosecuted for manslaughter including former Defence Minister Costas Papacostas. 

There has been public outcry after a leaked report published by the daily Politis said that two of the blast’s victims also shared responsibility for the blast because of their alleged knowledge of the cargo’s dangerousness. 

These are the deceased navy commander Andreas Ioannides and naval base commander Lambros Lambrou. 

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