Posts by tag: Orphanides

Archives March 23, 2013 posted by

Greece’s Piraeus to buy out local units of Cypriot banks

GREECE’S Piraeus Bank has been chosen to take over the Greek branches of Cypriot lenders that are being sold, Greece’s bank bailout fund confirmed yesterday.

The deal is subject to approval by European competition authorities, a statement from the Hellenic Financial Stability Fund said. It did not provide terms of the deal.

The statement confirmed a Reuters report citing banking sources saying Piraeus had beaten out Alpha Bank in the race for the Greek units of Cyprus’s two largest lenders – Bank of Cyprus and Cyprus Popular.

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Archives February 12, 2013 posted by

Builders strike enters its third week

CONSTRUCTION workers continued their strike action yesterday with no end in sight, as talks between the labour ministry, construction contractors and trade unions continued to be fruitless. 

The strike began on January 24 when workers from the construction industry decided to down tools in protest against the new collective agreements proposed by the contractors. Strikers have also protested against the large influx of foreign, unskilled, cheap labour into the marketplace. 

In light of the ongoing strike, the builders’ union DEOK has set up an account for people wishing to pledge financial support to the union’s striking builders.

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Archives February 1, 2013 posted by

Cypriot business confident about prospects

AROUND A third of chief executive officers (CEOs) in Cyprus are confident about their company’s prospects for revenue growth this year, though almost ali — 97 per cent — were not happy with the government’s handling of the financial sector, according to a recent global survey.  

According to the 16th Annual Global CEO Survey, 34 per cent of CEOs in Cyprus, 43 per cent in the eurozone and 45 per cent globally are somewhat confident about their company’s prospects for revenue growth over the next 12 months. 

Just 6 per cent of Cypriot CEOs stated they were “very confident” about their revenue prospects at a time where percentages reached 36 per cent globally and 20 per cent in the eurozone.  

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Archives January 13, 2013 posted by

Over 5,000 ‘green jobs’ to be created


SOME 5,500 new job posts will be created this year in sectors dealing with the environment, labour minister Sotiroulla Charalambous said yesterday.

Another 5,500 jobs will be made available because of the need to replace outgoing people, bringing the figure of available jobs to 11,000, Charalambous said referring to an unpublished survey by the Human Resource Development Authority (AnAD).

The AnAD survey will be published at a later stage, Charalambous said but did not specify when.

She said that a number of programmes were in place targeting youth unemployment, including schemes from AnAD, and called on people to make use of available resources.

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Archives January 11, 2013 posted by

Almost 550,000 registered to vote in elections

SOME 545,000 people are now listed as registered to vote in the upcoming presidential elections, of whom 12,736 are new voters.
In the previous presidential elections in 2008 there were 516, 441 registered voters.
This year’s number includes 600 registered Turkish Cypriots.
During the elections, which will be held on February 17 and 24, if there is a second round, 1,002 polling stations will operate in Cuprus – Nicosia 418, Limassol 315, Larnaca 183, Famagusta 54 and and Paphos 132.
Some 40 polling stations will operate abroad; five in Athens, three in Thessaloniki one each in Volos, Heraklion, Ioannina, Komotini, Larissa, Patra, Rethymno, Rhodes.

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Archives January 6, 2013 posted by

Six days in a hell-hole heart of darkness


HOW BADLY have repeated troika austerity measures affected the average Greek? We know standards of living there for the majority have fallen well below what they were three years ago, many tentatively employed at the inception of the first round of measures now finding themselves both on the dole and breadline. A university professor’s salary cut from 2800 euros a month to 800 during this past two years is just one example of troika driven impoverishment.

It is often claimed with considerable bitterness that this worldwide economic crisis has hit the middle and lower classes hard, leaving the rich to get ‘filthier’, but I do wonder whether that is entirely the case. 

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Archives January 5, 2013 posted by

Police disapprove of apology to ambassador

THE POLICE yesterday weighed in on the debate on the diplomatic fiasco at Larnaca airport last week, voicing their disapproval of the state’s formal apology to Egypt over the affair. 

Police association head Andreas Symeou argued that the government wrongly apologised for the police’s handling of a diplomat who refused to go through the proper security checks at the airport. 

The diplomatic incident occurred last Saturday when Egyptian ambassador Menha Mahrous Bakhoum went to escort her family to the departure lounge of Larnaca airport to see them off. 

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Archives December 30, 2012 posted by

Ireland can help lead Europe’s recovery

AS IRELAND takes on the rotating Presidency of the Council of the European Union this week, our road to economic recovery is clearly mapped out, 

These are challenging times for Europe – and for our Union – as the aftershocks of the economic crisis continue to make themselves felt. The EU is still working through the difficult questions thrown up for the single currency, and the European economy is struggling to provide jobs and good living standards for our peoples. Too many young Europeans in particular do not have a job – a challenge to which the European Union simply must rise.

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Archives December 28, 2012 posted by

Our View: And this man is Turkey’s minister for Europe?


IF THERE’S one thing Turkish politicians are not short of, it’s chutzpah.

Turkey’s minister for Europe, Egeman Bagis, sparked off an internal row on the Greek Cypriot side yesterday by raising the issue of a four-party conference on the Cyprus problem but that in itself – and the parties’ reactions – are nothing new. They need something else to focus on as election fever heats up.

But it was Bagis’ comments on Cyprus’ financial crisis that provided a bit of light relief. Turkish press quoted him as saying that the economic situation in Cyprus did not make Turkey happy and that to ‘hit a country when it was down’ has no place in Turkish culture.  

Then he went ahead and did just that. 

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Archives December 20, 2012 posted by

Teachers walk out early to protest austerity

SECONDARY school students were sent home early yesterday as their teachers walked out of classrooms for the day’s last period, protesting the austerity measures that impact their sector.

Teachers will be forced to work for an extra period (40 minutes) a week, a move that will likely see 413 contract teachers out of a job, education minister Giorgos Demosthenous said yesterday.

The measures are among those agreed with Cyprus’ international lenders, the troika, or the EU and IMF, as part of the bailout deal.

 But the secondary school teachers’ union, OELMEK, accused the government of failing to negotiate correctly the terms of the agreement. 

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