Posts by tag: debts

Archives October 26, 2012 posted by

Shiarly optimistic on troika talks

FINANCE Minister Vassos Shiarly said yesterday Cyprus and its lenders were close to ironing out several serious issues and expressed optimism that the island would strike a deal on its bailout terms before a November 12 deadline.
Speaking on private Mega television, Shiarly said the two sides maybe had six, seven, eight serious issues open but he expected them to be cut down to two or three within hours.
“We are very, very close,” the minister said.
Cyprus had sent lenders a series of proposals on Monday, regarding the island’s bailout adjustment programme.
They were in response to the lenders’ proposals, submitted on July 25.
Shiarly said a lot of work was being done to achieve convergence of the two packages.

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Archives September 6, 2012 posted by

No oversight for OPAP, MPs told

GREEK gaming company OPAP’s activities in Cyprus have never been checked by state authorities since it first started operating in 1969, parliament was told yesterday.

The House Legal Affairs Committee discussed the company’s partial exemption from a recently-approved gambling law, to see whether – among other things –this led to violation of fair competition regulations.

This was after reactions over OPAP being allowed to offer online lottery games like KINO to the public, when other betting shops were banned from offering similar games.

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Archives November 19, 2011 posted by

No work on Tombs of the Kings Road for at least a year


PAPHOS Mayor Savvas Vergas has confirmed that plans to upgrade the busy tourist hub of the Tomb of the Kings Road have been put on hold until late next year.

Vergas also said that plans which had been drawn up to construct a dual carriageway would not go ahead in its current form.

He said: “The plans for works on the Tomb of the Kings Road in Kato Paphos are now delayed because we will make some changes to the existing plans.”

Vergas confirmed that work to upgrade the area would get underway in October 2012.

Stressing the importance of modernising the area in a way which would be acceptable to both the authorities and local businesses the mayor said ‘common ground’ was a priority.

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