Day: November 22, 2022

Cyprus President, Nicos Anastasiades, leaves on Tuesday for Germany where he will hold on November 23 and 24, in the framework of a working visit, meetings with the German Chancellor, Οlaf Scholz, the President of Germany, Frank-Walter Steinmeier and the former Chancellor of Germany.

 

In recent statements, Anastasiades has said that the meeting with the German Chancellor in Berlin will take place in the framework of the continuation of the efforts made in order to create the necessary conditions to resume a dialogue regarding the Cyprus issue”.

 

Moreover, he noted the need “to repeat what we have been doing since Crans-Montana, the need for the international community, the European Union in particular, to realise that without intervention a small country like Cyprus cannot achieve the results that we all desire.”

 

Anastasiades and Scholz will also discuss bilateral, European, economic and energy issues.

 

A press release issued by the Presidency said that on November 23 at 1000 local time, President Anastasiades will go to the Bellevue Palace, in Berlin, where he will be welcomed by President Steinmeier.

 

President Anastasiades will sign the book of visitors at the Palace and will then have a private meeting with his German counterpart. After that the two Presidents will chair expanded talks between delegations of the two countries.

 

At 1700 local time, the President of the Republic will arrive at the Chancellery where he will be welcomed by Chancellor Olaf Scholz, while a military contingent will pay tribute. Following that Anastasiades will have a private meeting with Scholz and afterwards delegations of Cyprus and Germany will have expanded talks. At 18.15 local time, President Anastasiades and the Chancellor of Germany will make statements to the media.

 

On November 24, at 0930 local time, the President of Cyprus will visit the Jewish Museum. He will also give an interview to Die Welt newspaper. Anastasiades will have a private meeting on the same day with the former Chancellor of Germany, Angela Merkel, at her office.

 

He will be accompanied to Berlin by Government Spokesman, Marios Pelekanos, Deputy Minister to the President, Petros Demetriou, the Ambassador of Cyprus to Germany, Maria Papakyriakou, the Director of his Office, Pantelis Pantelides and other officials. Anastasiades will return to Cyprus in the evening of November 24.

 

Cyprus has been divided since 1974, when Turkey invaded and occupied its northern third. Repeated rounds of UN-led peace talks have so far failed to yield results. The latest round of negotiations, in July 2017 at the Swiss resort of Crans-Montana ended inconclusively.

 

Source: Cyprus News Agency

The government has set the tourism sector a top priority for the country’s development during the last decade, said President of the Republic Nicos Anastasiades.

 

In a speech at the 44th Cyprus Hotel Summit and Exhibition, organised by the Cyprus Hoteliers’ Association, he said he is convinced that the tourism industry is in a position to strengthen even more its competitive advantages and to respond to the increasing market challenges and demands.

 

President Anastasiades said he believes that the successful tourism policy and the unhindered implementation of the National Tourism Strategy 2020-2030 in the coming years must continue in order to secure a bright future for Cypriot tourism.

 

He praised the Deputy Tourism Minister for his actions, his insight and careful plans which, with the support of both the Ministries of Transport and Finance, made possible the implementation of a strategy the results of which have significantly contributed to the development of tourism.

 

President Anastasiades also praised the smooth cooperation of the state and private sectors.

 

He further referred to the sound policies followed by Cyprus which have allowed the tourism sector to achieve notable performances, with a significant increase in the sector’s contribution to the country’s Gross Domestic Product, improving the level of prosperity of the population, creating jobs and other important benefits for many other sectors of the economy.

 

President Anastasiades talked about policies which were the result of negotiations between the state, the Hoteliers’ Association and the private sector such as the incentives scheme for airlines to strengthen Cyprus’ connectivity and increase passenger traffic, granting planning incentives, launching great tourism development projects and the open skies policies in effect from November 2013. He also referred to employee training schemes with major tour operators from overseas, modernising the regulatory framework governing the licensing and operation of tourism businesses with the aim to further enhance and upgrade the competitiveness of the sector.

 

According to him, the highlight of the government’s policies was the establishment of a Deputy Ministry of Tourism which is of historic significance and in the first four years of its operation, has planned and implemented a complete tourism policy through the National Tourism Strategy 2020-2030.

 

President Anastasiades said that during times of crisis, the government provided financial assistance to businesses and workers in the tourism and hotel industry, helping its gradual recovery since 2021.

 

“The Government’s vision through the National Strategy is to increase the contribution of tourism to the GDP and further improve the standard of living of our society”, the President added.

 

He also said that the aim is to geographically balance the distribution of the benefits of tourism throughout the government-controlled areas of the Republic, by developing the tourism in areas that have not yet been developed, such as rural areas, mountainous communities and those areas bordering the buffer zone.

 

President Anastasiades pointed out that arrivals and income from tourism are expected to reach 80% and 87% respectively by the end of the year, noting that the most positive element for the country’s tourism sector is the increased daily expenditure due to the purchasing power of tourists from EU countries.

 

At the same time, he added, through the “Cyprus-tomorrow” Plan, tens of millions of euros will be allocated to enhance the value of tourism, through sponsorship schemes to upgrade tourist accommodation and hotels in the countryside, mountainous and areas bordering the buffer zone, and also creating medical facilities and facilities for assisted living to attract medical tourism and health and wellness tourism and as well as further promoting circular economy at hotel facilities.

 

Meanwhile, the Cyprus Hoteliers’ Association presented President Anastasiades with an award for his cooperation and contribution to the sector in his two terms in office.

 

The association’s chairman, Haris Loizides, said the achievements speak for themselves and said the decision to create a Deputy Ministry of Tourism. During his speech, Loizides said that cooperation between the private and public sectors is of key significance for long-term economic prosperity and development, something that has been implemented in practice over the last decade.

 

He also said that tourism has been a sound pillar for the Cypriot economy and expressed optimism that after the difficult current situation, this will continue in the future.

 

Regarding the repercussions from the Russian invasion of Ukraine, Loizides said that if you cannot avoid a crisis, the best thing you can do is to come out of it wiser. He added that based on the data, “it is obvious that we are on the right track to increase revenue beyond arrivals,” and welcomed recent announcements by airlines to increase routes.

 

Source: Cyprus News Agency

Lambros Papadopoulos, President of the state-owned asset management company, KEDIPES, warned on Tuesday that the continued suspension of foreclosures will negatively affect the company’s revenue from non-performing loans (NPLs) management resulting in a reduced repayment of state-aid.

 

The Parliament has voted in favour of extending the suspension of foreclosures for NPLs collateralized by primary residences up to €350,000, NPLs collateralized by premises of small enterprises with a turnover of 750,000 annually and NPLS collateralized by agricultural plots up to €100,000.

 

Speaking in press conference, Papadopoulos said that new extension affects loans amounting to approximately €2.9 billion which corresponds to 50% of KEDIPES’ loan portfolio.

 

“Due to these continued interventions, cash inflow will be reduced, negatively affecting the capacity to repay the state aid,” Papadopoulos added.

 

KEDIPES was established in September 2018 as the residual entity of the former Cyprus Cooperative Bank (CCB), whose performing assets and deposits were sold to Hellenic Bank. The Cypriot government provided state aid amounting to €3.5 billion to facilitate the transaction. KEDIPES’ mandate is to manage the non-performing assets of CCB with a view to repaying the state aid.

 

Papadopoulos said a continued suspension of foreclosures for primary residencies would be manageable, but added the new extension has a multiplying effect on KEDIPES’ portfolio as small enterprises and agricultural plots were included.

 

“For us foreclosures is a tool but not an end in itself, initiating a foreclosure procedure enables us to find solutions especially for strategic defaulters,” he said.

 

According to the asset management results, cash inflow amounted to €93.1 million in the third quarter of 2022, down by 19.2% compared to the previous quarter and 3.5% year on year. The quarterly reduction is attributed to the sale of KEDIPES’ stake in commercial activities in the second quarter, KEDIPES said.

 

Total deleveraging since the commencement of KEDIPES operation in September 2018 amounted to €2.83 billion, while total debt write-offs in the context of loan restructurings amounted to €1.28 billion.

 

Loans in nominal value at the end of September 2022 amounted to €6.24 billion from €6.34 billion in the end of the previous quarter and €6.51 in the third quarter of last year.

 

KEDIPES’ total assets in the end of the third quarter of 2022 amounted to €6.96 billion in nominal value, including €121 million in cash €582 million in real estate and performing loans amounting to €631 million.

 

In 2022 KEDIPES has paid €230 million to the state, with the total state repayment since September 2018 reaching €800 million in cash, while KEDIPES has transferred buildings to the state amounting to €140 million. Papadopoulos said that KEDIPES is expecting to pay the state with an additional amount between €60 to €80 million.

 

Source: Cyprus News Agency

 

Cyprus’ Foreign Minister, Ioannis Kasoulides, discussed with his counterparts from the Congo and Cameroon the start of bilateral negotiations with the aim of reaching agreements for the readmission of migrants, the Ministry said on Tuesday in a written statement.

 

The meetings took place on the sidelines of the Francophonie Summit that took place last week in Djerba, in Tunisia.

 

According to the Foreign Ministry’s statement, Kasoulides held bilateral meetings with his counterparts from the Congo and Cameroon, “two countries with large numbers of irregular immigrants in Cyprus”.

 

During these meetings, it adds, it was agreed to start bilateral negotiations with the aim of concluding agreements on the readmission of immigrants. It is noted that, “both countries recognise the need to address the issue of the instrumentalisation of migration”, as a result of which large numbers of migrants are channeled to Cyprus by people smugglers.

 

The Ministry also noted that, both countries “do not recognise that their internal situation is such as to make their citizens asylum seekers”, adding that, a common approach was found regarding the root causes of the problem and ways to tackle it.

 

Source: Cyprus News Agency

The government is handing over a modern, more dynamic tourism product that has the capacity to further develop, said on Tuesday Finance Minister Constantinos Petrides addressing the 44th Cyprus Hotel Summit and Exhibition organised by the Hoteliers’ Association.

 

He said it is notable that we are at this point after what the government took over at a time of great crisis ten years ago, adding the government’s main concern is to help one of the most significant industries on the island.

 

Petrides referred to town planning schemes, amending the old method of hotel categorisation and opening the biggest casino resort in the Eastern Mediterranean.

 

The government, he said, appointed the best consultants on the issue because Cyprus deserves the best, with the creation of a casino to serve as a point of reference for the entire Eastern Mediterranean and the EU. It will also serve to attract six-digit numbers as regard quality tourism.

 

Regarding the creation of the Deputy Ministry of Tourism, he said through the Parliament, the government convinced that a semi-government organisation cannot manage the tourism sector.

 

Petrides talked about the increase of routes with over 40 destinations such as Scandinavia, Hungary, Poland and Israel.

 

He also pointed out the significance of Strategy for Tourism, adding that Cyprus is not merely sun and sea but has great potential in other tourism aspects.

 

He said that although the contribution of tourism to the GDP has decreased, the real value of tourism has increased, i.e. arrivals and per capita income. However, other sectors of the economy have also developed.

 

I am proud that this government is delivering a tourism package which is more modern, updated, more dynamic and with the assurances that it can evolve even further”, he added.

 

The Minister also thanked the Hoteliers’ association for its cooperation with the government in the past ten years.

 

Source: Cyprus News Agency

Six Bishops have officially expressed interest on Tuesday in being elected as the Church of Cyprus’ new Primate, after the passing two weeks ago of Archbishop Chrysostomos II.

 

The Bishop of Limassol, Athanasios, the Bishop of Kyrenia, Chrysostomos, the Bishop of Constantia, Vasilios, the Bishop of Morphou, Neophytos, the Bishop of Paphos, Georgios, and the Bishop of Tamassos, Isaias, have expressed their interest in writing to the returning officer of the archbishopric elections.

 

The elections will be carried out on December 18. Orthodox Christians who are eligible will vote for the candidate of their choice. The next step, is for the Holy Synod to vote on who will be the new archbishop among the three candidates with the most votes.

 

Returning officer of the archbishopric elections, Ioannis Charilaou said that, at the moment, they were in the process of creating the Church electoral rolls and that, they are proceeding according to the timeframe set. He said that the Government is offering its assistance for the elections.

 

Responding to a question by a journalist, Charilaou said he could not say as yet, when the results would be out.

 

Source: Cyprus News Agency

 

The President of Cyprus Nicos Anastasiades, accompanied by his wife Andri Anastasiades, is in Berlin since Tuesday afternoon, where he will hold, in the framework of a working visit, meetings on November 23 and 24 with the political leadership of Germany.

 

According to a statement issued by the Presidency, upon his arrival the President of the Republic was received by German state authorities, while a military contingent paid tribute.

 

It is also noted that on Wednesday morning (11 am Cyprus time), Anastasiades will visit the Presidential Palace for a meeting with his German counterpart, Frank-Walter Steinmeier.

 

As stated, during their meeting the two Presidents will discuss issues related to bilateral relations, developments regarding the situation in Ukraine, while President Anastasiades will brief the German President on the current situation of the Cyprus issue.

 

In the afternoon of the same day (6 pm Cyprus time), President Anastasiades will meet with Chancellor Olaf Scholz, with whom he will discuss the Cyprus problem, while their meeting is also expected to focus on European, energy and economic issues, followed by a joint press conference.

 

The President of the Republic is accompanied by Government Spokesman Marios Pelekanos, the Deputy Minister to the President Petros Demetriou and the Director of his Office Pantelis Pantelides, the statement concludes.

 

Cyprus has been divided since 1974, when Turkey invaded and occupied its northern third. Repeated rounds of UN-led peace talks have so far failed to yield results. The latest round of negotiations, in July 2017 at the Swiss resort of Crans-Montana ended inconclusively.

 

Source: Cyprus News Agency