Day: June 7, 2021

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Committee for naturalisations identifies possible criminal, political, and disciplinary responsibilities

Myron Nikolatos, President of the Inquiry Committee, appointed to look into the exceptional naturalisations granted to foreign businessmen and investors from 2007 to August 17, 2020 said on Monday that the Committee has identified possible criminal, political, and disciplinary responsibilities.

Nikolatos, who handed over to the Attorney General the Committee`s final report, said that between 2007 until August 2020, the Committee`s position is that there were massive illegalities, ie exceeding of the relevant law by the Council of Ministers and others regarding the naturalisation of family members of investors-businesspersons and company executives- investors.

He said that out of the 6,779 exceptional naturalisations of physical persons, 3,609 physical persons, or 53%, are family members and company executives, who have been naturalised outside the legal f

Source: Cyprus News Agency

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New loans decline in April, as housing loans interest rate climbs to a two-year high

Total new loans in April declined compared with the previous month, mainly due the reduction in demand for new corporate loans, as new consumer credit increased.

According to data released by the Central Bank of Cyprus (CBC) the interest rate for new loans for house purchase reached the highest level of the last two years, while interest rate for corporate loans up to €1 million rose to a 13-month high.

Interest rate for deposits with a fixed term up to one year declined to a new historic low, the CBC said.

Source: Cyprus News Agency

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Government determined to punish those involved in criminal or disciplinary offenses as regards Investment Program

The Government is determined for exemplary punishment of all those involved in criminal or disciplinary offences as regards the misuse of the Cyprus Investment Program , Spokesperson Kyriakos Koushos said on Monday, following the Inquiry Committee`s final report which was handed over to the Attorney General earlier today.

In statements to the press at the Presidential Palace the Spokesman said that the President of the Republic wishes to praise the Committee for its hard work adding that all political forces acknowledge that the members of the Committee delivered their task in an impartial and objective manner in really hard conditions.

Pointing out that they have not yet studied the report, the Spokesman said that its handover closes a prolonged cycle of political tension and toxic environment that mainly targeted the President of the Republic.

Source: Cyprus News Agency

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The Law Office provides legal advice to the government on the issue of Famagusta, Attorney General says

Cyprus Law Office is, with the contribution of foreign legal experts, in constant consultations with the Foreign Ministry and in general with the government of the Republic to provide legal advice and support as regards the issue of Famagusta, Attorney General, George Savvides, said on Monday.

Asked about information with regard to a team set up at the Law Office to examine how the Republic of Cyprus will handle the issue of Famagusta and what is taking place in the fenced-off city, Savvides said that “the problem of Famagusta is a very serious issue, which we meticulously examine.”

“With the contribution of foreign legal experts we are in constant consultations with the Foreign Ministry and in general with the government, and we provide all the legal advice and support which the authorities ask from us, from time to time, as we have the obligation to do so,

Source: Cyprus News Agency

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Cyprus President to visit Estonia, FM Christodoulides held meetings in Talin on Monday

Cyprus President Nicos Anastasiades, is expected to pay in the near future a visit to Estonia, during which a revised Memorandum of Understanding for cooperation in the field of e-Governance and ICT is expected to be signed. The preparation of Anastasiades’ forthcoming visit was among the issues discussed during the meetings which Foreign Minister, Nikos Christodoulides, had in Talin on Monday, where he paid a working visit. This is the first visit of a Cypriot Foreign Minister to Estonia since 2008.

Source: Cyprus News Agency

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Commissioner Photiou briefs Ambassador of Romania on missing persons’ issue

Presidential Commissioner Photis Photiou met on Monday with the Ambassador of Romania Dan Mihalache whom he briefed on issues of his portfolio and especially the missing persons` issue.

Photiou informed the Ambassador on the process of remains` exhumation in the occupied areas and the problems that arise because of Turkey`s refusal to cooperate as regards the establishment of fate of the missing persons. The Commissioner asked for Romania`s contribution, as an EU member state, to get Turkey to cooperate and show a positive stance.

Source: Cyprus News Agency

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Chief of the National Guard discusses developments in the Eastern Mediterranean in Cairo

Developments in the Eastern Mediterranean and the stability and security in the region were on the agenda of the talks Chief of the National Guard Demokritos Zervakis had in Cairo on Sunday with Mohamed Farid Hegazy, Chief of Staff of the Egyptian Armed Forces and Defence Minister Mohamed Ahmed Zaki.

Lieutenant General Zervakis, Lieutenant General Hegazy and Zaki referred to the excellent relations between the two countries, dating back to the establishment of the Republic of Cyprus.

Lieutenant Zervakis who paid a visit at the invitation of Chief of Staff of the Egyptian Armed Forces was welcomed at the Ministry of Defence and during the talks that followed they discussed the bilateral relations and the cooperation in the defence sector in particular the participation in joint exercises.

Source: Cyprus News Agency

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Works to open fenced off area continue in Turkish-occupied Varosha [VIDEO]

The Turkish side continues the works for opening part of the fenced off area of Varosha, in Turkish occupied Famagusta.

CNA photographer Katia Christodoulou revisited the area, often described as ghost town on Friday, 4 of June, the first day of the reopening of the crossing points from and to the government controlled areas of the Republic of Cyprus after almost 15 months of inactivity due to measures in place to contain the Covid pandemic.

Her photographs and video show that works in the new part of the Chrysi Akti beach (golden coast) that extends to the Venus Hotel and will be accessible to the public are almost completed.

Source: Cyprus News Agency

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Deputy Minister for Shipping to participate in EU Ministerial Meeting in Lisbon

Cyprus Deputy Minister of Shipping Vasilis Demetriades will participate in a Ministerial Meeting of the EU member states that will take place in Lisbon.

A press release by the Deputy Ministry says that the meeting, that takes place at the initiative of the Portuguese Presidency of the Council of the EU, enitled “A Blue Agenda in the Green Deal”, will focus on the important role of the seas in promoting the “Green Agreement” and the contribution of the Blue Economy to the efforts for economic recovery in EU Member States.

On the sidelines of the Ministerial Meeting, Demetriades will hold contacts with counterparts from other EU Member States.

Source: Cyprus News Agency

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Employment increases slightly, actual hours worked decrease during first quarter of 2021

Total employment increased slightly, by 0.3% in the first quarter of 2021 compared to the corresponding quarter of 2020, while there was a decrease of 3.6% in actual hours worked, compared to the same period last year.

According to the Statistical Service’s provisional estimate, total employment for the first quarter of 2021 is estimated at 433,486 persons, of which 383,380 are employees and 50,106 are self-employed.

The most significant percentage increases were observed in the economic activities of Information and Communication (NACE J), Education (NACE P), Professional, Scientific Technical Activities (NACE ?) while significant percentage decreases were observed in the economic activities of Transportation and Storage (NACE H) and Other Service Activities (NACE S).

Source: Cyprus News Agency