Day: December 9, 2021

Cyprus will be presenting an initiative aimed to push for solutions on air connectivity during Thursday’s Transport, Telecommunications and Energy Council in Brussels, according to a statement made by Minister of Transport, Communications and Works, Yiannis Karousos upon his arrival to the meeting.

Karousos noted that connectivity is crucial for the EU and pointed out that the pandemic has created many issues and significant problems in this sector.

“Passenger numbers are down by 68% in 2021 compared to 2019 and that is why we took the initiative and, together with seven other member states have submitted in June 2021 the Declaration for Air Connectivity” Karousos said.

Source: Cyprus News Agency

The Central Bank of Cyprus said it has imposed a fine amounting to €790,000 to Bank of Cyprus, the island’s largest lender over failure to comply with the anti-money laundering law and the CBC directive.

The fine announced today concerns an audit conducted in 2018 and 2019.

“The CBC, on the basis of findings emanating from the examination conducted during 2018 and 2019, decided on 9 December 2021 to impose measures in the form of a fine on Bank of Cyprus Public Company Ltd, amounting to €790,000, for failure to comply with certain provisions of the Law and of the CBC Directive to Credit Institutions for the Prevention of Money Laundering and Terrorist Financing, December 2013 (Fourth Edition), as subsequently amended, during the period 2015 to 2019,” the CBC said.

Source: Cyprus News Agency

Cyprus will undertake initiatives within the International Maritime Organisation so that the efforts made by the European Union towards the decarbonisation of shipping are reflected internationally, said Deputy Minister for Shipping Vassilis Demetriades in statements from Brussels, where he participated in the discussions on maritimes transport during the EU’s Transport Council on Thursday.

“We had an interesting discussion on the decarbonisation of shipping, in relation to the proposed regulation under the Fit-for-55 package,” Demetriades said.

“Our message is clear.

Source: Cyprus News Agency

Cyprus Foreign Affairs Minister, Nikos Christodoulides, who is escorting Cyprus President, Nicos Anastasiades to Spain, visited on Thursday the seat of the International Olive Council, in Madrid, at the invitation of the Council`s Executive Director, Abdellatif Ghedira.

According to a presidency press release, a collection of olive trees from various member states of the organisation are planted in the courtyard of the Council`s seat. Since Cyprus` olive tree was missing, the Foreign Minister handed over officially, during a special ceremony, a Cypriot olive tree, that will be planted in the Council`s courtyard.

Source: Cyprus News Agency

Spain’s Prime Minister Pedro Sanchez and Cyprus President Nicos Anastasiades underlined the excellent relations shared between the two countries and their support to the sovereignty and territorial integrity of both countries.

In a joint communique issued at the end of their meeting in Madrid, they also stressed the importance for the respect of the sovereign rights of each state in its maritime zones in accordance with international law, including international maritime law as well as the importance of the adoption of a new Pact on Asylum and Migration that will enable the EU to respond swiftly and guarantee efficient management of migratory flows.

Prime Minister Sánchez, and President Anastasiades, had a meeting at the Palacio de la Moncloa, in the framework of the latter’s visit to Madrid following an invitation by His Majesty King Felipe VI, a presidency

Source: Cyprus News Agency

The main options included in the latest draft of the EU’s options paper on Turkish occupied Varosha are targeted measures against individuals and legal entities responsible for the violations regarding the fenced-off area, cuts in the EU pre-accession financial assistance to Turkey and restrictions on the activities of the European Investment Bank and other financial institutions in Turkey, according to reliable information obtained by CNA.

The draft, which will be discussed by the foreign ministers during the Foreign Affairs Council in Brussels on Monday, may serve as a guide for the Council (on the level of foreign ministers or even leaders) on how the EU can respond to Turkey`s actions.

The document stresses that Turkey`s actions in Varosha are illegal and that continued engagement between the EU and Turkey depends on whether Ankara adopts a constructiv

Source: Cyprus News Agency

Cyprus will proceed with a tax reform next year, including the increase of corporate income tax and the introduction of green taxation with a view to achieve its environmental targets, Finance Minister Constantinos Petrides has said.

Speaking before the Parliament’s plenary ahead of the debate for the 2022 state budget on Thursday, Petrides said the tax reform will be “more fair, fiscally neutral” and will befinalised in 2022.

Petrides noted that the global agreement over 15% taxation on global multinational companies “provides the Republic of Cyprus an opportunity to improve its national taxation framework through the reduction of administrative burden with a reduction of the taxation burden for businesses securing a neutral reform.

Source: Cyprus News Agency

EU will examine its options on Turkish occupied Varosha next Monday and it is then that the common consensus will be shown as regards the need for the international law and the law of the sea to prevail, Cyprus President Nicos Anastasiades has said.

He was replying to questions by the press in Madrid on Thursday where he wrapped up a visit and had meetings with the Prime Minister and the King of Spain.

President said that he briefed the Premier Pedro Sanchez on the Cyprus issue, Turkey`s unjust and unacceptable actions in the sea and on the ground related to provocations in Varosha and the militarisation of the occupied areas on the island and its provocative acts in the exclusive economic zone of Cyprus, a presidency press release says.

Source: Cyprus News Agency