UNSG Antonio Guterres to participate in European Council in March, Charles Michel said on Twitter

United Nations Secretary General Antonio Guterres will participate in the next summit of the European Council in March, European Council President Charles Michel announced in a tweet posted on the occasion of both officials attending the annual summit of the African Union in Addis Ababa, in Ethiopia, held from February 17th to 19th.

“At @_AfricanUnion & ahead of his participation in March #EUCO exchanged with @antonioguterres how to address impact of war in #Ukraine globally” Michel wrote in his tweet.

“The EU remains committed to assist @UN efforts to renew Black Sea Grain Initiative, which has helped reduce food prices for millions” he added.

Guterres is expected to participate in the first day of the European Council summit, on March 23rd.

Source: Cyprus News Agency

Business bankruptcies decrease by 13.4% in Cyprus during fourth quarter of 2022, according to Eurostat

The number of bankruptcy declarations among EU businesses increased substantially in the fourth quarter of 2022 (+26.8% compared with the previous quarter), while estimates for Cyprus show a decrease (-13.4%) during the same period, according to data on business registrations and bankruptcies published by Eurostat, the statistical service of the EU.

During the fourth quarter of 2022 bankruptcies in the EU reached their highest levels since the start of data collection in 2015. In Cyprus during the same period, estimates show the third lower level of bankruptcies ever recorded, following the fourth quarter of 2021 and the first quarter of 2022.

The number of bankruptcy declarations in the EU increased during all four quarters of 2022. In Cyprus, there had been an increase during the second quarter of 2022, before bankruptcy declarations continued decreasing. Bankruptcies have been decreasing since the first quarter of 2021, when they had reached the highest levels ever recorded.

When it comes to registrations of new businesses in the EU, these decreased slightly by 0.2% in the fourth quarter of 2022 compared with the previous quarter.

Generally, in all four quarters of 2022, business registrations levels were higher than during the pre-COVID pandemic period 2015-2019.

The data on bankruptcy declarations in Cyprus during the fourth quarter of 2022 are based on Eurostat estimates. Also, the data does not include updated information on business registrations in Cyprus.

Looking specifically at bankruptcies by activity, all sectors in the EU registered increases in the number of bankruptcies in the fourth quarter of 2022 compared with the previous quarter.

Transportation and storage (+72.2%), accommodation and food services (+39.4%), and education, health and social activities (+29.5%) were the activities with the highest increases in the number of bankruptcies in the fourth quarter of 2022 compared with the previous quarter.

Compared with the pre-pandemic fourth quarter of 2019, the number of declarations of bankruptcies in the fourth quarter of 2022 was higher in the majority of sectors of the economy. The largest increases in the number of bankruptcies, compared with the fourth quarter of 2019, were recorded in accommodation and food services (+97.7%) and transportation and storage (+85.7%).

The number of declarations of bankruptcies in the fourth quarter of 2022 compared with the pre-pandemic fourth quarter of 2019 was lower in only three sectors of the economy: industry (-17.6%), construction (-9.2%) and information and communication (-4.0%).

Source: Cyprus News Agency

Paphos votes for its 70th Bishop

Paphos is electing on Sunday its 70th Bishop. Those registered to vote are called upon to elect three of the candidates from which the Holy Synod will choose the next Bishop of Paphos at a later stage.

The Bishop of Paphos is considered the first-ranked Bishop of Cyprus. The position has been vacant since December 24, 2022, when the former Bishop of Paphos, Georgios, was elected Archbishop of Cyprus.

According to the Chief Returning Officer of Paphos Bishopric, Ioannis Charilaou, the number of registered voters in the entire district of Paphos stands at 52,164 voters, who are distributed in 126 polling stations.

All Orthodox Christians who have reached the age of 18 by February 19th and have been residing in the Paphos district for at least one year, and are included in the electoral list, have the right to vote, with some exceptions. The ballot paper will be blank and the voter will write the name of their chosen person on the ballot paper. The voting hours are from 10:00 am to 1:00 pm and from 2:00 pm to 5:00 pm (local time).

All candidates meeting the criteria set out in the Charter of the Church of Cyprus are eligible. Those who announced their candidacy include Karpasia Bishop Christoforos, Amathounta Bishop Nicholas and Archimandrites Tychikos Vryonis and Ioannis Ioannou.

President elect Nikos Christodoulides, who was born in the Paphos district of Yeroskipou, is expected to cast his ballot at 14.00. Archbishop Georgios had held the Paphos seat since December 2006 when his predecessor Chrysostomos was elected Archbishop. Chrysostomos died in November 2022.

Source: Cyprus News Agency

Cypriots rank first with 14 medals in the Cyprus Grand Prix 2023 Trap and Skeet international competition

Seven medals in shooting and 7 in trap were secured by Cypriot athletes in the Cyprus Grand Prix 2023 Trap and Skeet international competition, earning them the first place in the relevant scoreboard.

The competition was held at the Cyprus Olympic Shooting Range ‘Lakis Psimolophitis’ in the area of Latsia, on the outskirts of the capital Nicosia.

Out of the 33 medals of the competition, Cypriot shooters won 14 (4 gold, 6 silver, and 4 bronze) and are at the top of the scoreboard with a significant difference from Greece which came second with 4 medals (one gold, two silver, and one bronze), while Norway came third with 2 medals (one gold and one silver).

The Cypriot athletes secured 14 medals, with seven in shooting and seven in trap. In shooting, they won 3 gold, 2 silver, and 2 bronze medals, and in trap 1 gold, 4 silver, and 2 bronze medals.

Gold medals were won by Constantina Nicolaou (women’s shooting), Cleanthis Varnavidis (junior shooting), Giorgos Gregoriou (junior trap), and Nicolas Vassiliou and Constantina Nikolaou in the Mixed Skeet team.

Six silver medals were won by Yiannis Ailiotis (men’s trap), Andi Iereidis (women’s trap), Anastasia Eleftheriou (women’s skeet), Nicos Nicolaou (junior men’s skeet), Chara Meli (junior women’s trap), and Andreas Hadzisavvas in the veteran’s trap category.

Finally, the 4 bronze medals were won by Nihat Akterzi (men’s trap), Despina Tsangaridou (women’s trap), Panayiota Andreou (women’s skeet), and Sotiris Antoniou and Anastasia Eleftheriou in the Mixed Skeet team.

Source: Cyprus News Agency

Cypriot bonds held by the Eurosystem exceed €7 billion in end January

Cypriot bonds held by the Eurosystem in the context of the Public Sector Purchases Programme (PSPP) and the Pandemice Emergency Purchases Programme (PEPP) exceeded €7 billion in January 2023.

On the basis of available data, the total purchases of Cypriot bonds by the Eurosystem amount to approximately 30% of the Cypriot public debt.

According to data published by the European Central Bank, analysed by CNA, the cumulative worth of Cypriot bonds, purchased mainly by the Central Bank of Cyprus and the ECB under the PSPP, amounted to €4.52 billion in the end of January, while net purchases in the same month amounted to €16 million. The weighted average maturity of these bonds stood at 8.93 years, the ECB said.

Net bonds purchases under the PSPP have been terminated in June 2022, with the Eurosystem reinvesting, in full, the principal payments from maturing securities purchased under the APP until the end of February 2023.

The portfolio of the wider Asset Purchases Programme (APP) will decline at a measured and predictable pace, as the Eurosystem will not reinvest all of the principal payments from maturing securities, the ECB said, adding that “the decline will amount to €15 billion per month on average until the end of June 2023 and its subsequent pace will be determined over time.”

Cypriot bonds purchased under PEPP amount to €2.49 billion

According to the ECB data, total Cypriot bonds held in the balance sheet of the CBC and the ECB under PEPP amounted to €2.49 billion in the end of January, with net purchases from December 2022 to January 2023 amounting to €6 million. The bonds’ WAM stood at 8.1 years.

With net purchases under PEPP terminated since last March, the ECB Governing Council said it intends to reinvest the principal payments from maturing securities purchased under the programme until at least the end of 2024.

Source: Cyprus News Agency

Christodoulides pledges to do everything possible to achieve a result during his meeting next week with Tatar

Newly elected President Nikos Christodoulides said he will do everything possible to achieve a result at his unofficial meeting next week with the Turkish Cypriot leader Ersin Tatar.

Speaking after casting his vote in his hometown of Yeroskipou for the new Paphos bishop, Christodoulides, also said the current state of affairs cannot constitute a solution to the Cyprus problem and that talks should resume as soon as possible.

He told reporters that he attends his meeting with Tatar this week “with absolute seriousness to see how we can break the impasse in the Cyprus problem.”

The President-elect added “I have repeatedly said, that the current state of affairs cannot be the solution to the Cyprus problem and talks should resume as soon as possible, but it will be a first opportunity for a discussion.”

Asked if he has any expectations for the meeting, he said, “you go to every meeting with expectations. And be assured that from my side I will do everything possible to achieve a result. Things are not easy, I know the situation very well, but that does not mean that we will not try from our side whatever is possible.”

He also pointed to the European Council, taking place on March 23, in Brussels, which he described as a “very important European Council” and where he will have the opportunity to have many bilateral meetings beyond the Council where specific issues will be discussed.

Christodoulides said there is an agenda, but on the sidelines there are many meetings that concern exactly the Cyprus issue “and this what we said during the pre-election campaign, the need for the European Union to help break the impasse by having a leading role and to restart the negotiations.”

Christodoulides repeated his support to Turkey and to the Turkish Cypriot community for the victims of last week’s catastrophic earthquake. “Any event, even an earthquake, I believe it can indeed bring both countries closer”, he said referring to relations between Athens and Ankara and the statements from Greek and Turkish officials.

Christodoulides said “we are not against the strengthening of relations between Ankara and Athens”.

At the same time he stressed that everyone appreciates that “full normalization (of relations) cannot be achieved without a solution to the Cyprus problem. What will we pursue? In the event that a new, better climate is created, we will utilize it in relation to the prospects for solving the Cyprus problem.”

Asked if he will pursue a meeting with the UN Secretary General, Antonio Guterres, who will be attending the working lunch at the European Council, Christodoulides said a message has already been conveyed to New York for such a meeting.

If it is feasible, based on the UN SG’s schedule, that will be a very positive development, added Christodoulides.

He said during his meeting with Tatar, the UN Special Representative Colin Stewart will be present and he hoped that there will be such result that will facilitate a meeting with the SG.

He underlined that it is important that Guterres will be present at the lunch in Brussels, adding that “this is what we are seeking” with the EU’s cooperation of which Cyprus is a member state, and will continue to be even after a possible solution to the Cyprus issue.

Asked about the status of a working document, Christodoulides said that it is in the final stage where “we explain why the EU can break the deadlock in Cyprus. It is a document whose preparation started before the presidential elections, we are in the final stage”, adding that he will share the document during his meetings in Brussels with EU High Representative of the EU for Foreign Affairs and Security Policy, Josep Borrell and other EU officials.

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.

Source: Cyprus News Agency

Cabinet formation at an advanced stage, no proposals by parties yet, says President-elect

The formation of the Council of Ministers is at an “advanced stage,” President-elect Nikos Christodoulides said on Sunday, adding that he has not yet received proposals by the parties who supported his candidacy in the presidential elections.

Christodoulides won the run-off ballot of the Cyprus presidential elections last Sunday and will assume duties on March 1.

“All in due time,” he said responding to questions by journalists as to when he will announce the new Cabinet. Christodoulides spoke to the press after casting his vote for the local elections for the next Bishop of the city in succession of Georgios who was elected last December as the new Archbishop of Cyprus.

Christodoulides added that along with the new Council of Minister “which is at an advanced stage,” there are other important issues on which preparatory work is being carried out.

Responding to a question whether he has received proposals by the parties which supported his candidacy over the new Cabinet, Christodoulides said so far he has not yet received any suggestions, adding that any existing suggestions are welcome.

He pointed out that he has set the context for the Council of Ministers following the messages he received by the society in the run up to the elections.

“The messages we received from the civil society will constitute a fundamental condition for our options and proposals both with regard to issues of substance as well as the formation of the Cabinet,” the newly elected President stated.

Noting that this is not a “slogan,” he added that “now is the time to put it into practice.”

“And for me, I would like to reiterate, the dialogue with the society and the results will be crucial to my decisions,” Christodoulides stressed.

Source: Cyprus News Agency