Category: General

The Greek Minister of Labour and Social Affairs, Kostis Hatzidakis, will visit Cyprus on Tuesday 18 October, following an invitation by the Minister of Labour and Social Insurance of Cyprus Kyriacos Koushos.

 

According to a press release by the Ministry of Labour, the Greek Minister of Labour and Social Affairs will be accompanied by a group of high-level officials in order to define the technical capabilities/applications of the ERGANI II system over the next two days and subsequently to proceed with the relevant decisions and timetables for its gradual implementation.

 

It is recalled that on 30 September the two sides signed in Athens, in the presence of the Deputy Minister of Research, Innovation and Digital Policy of Cyprus, Kyriacos Kokkinos, a Memorandum of Understanding, under which the know-how of the ERGANI II information system, which is considered one of the most advanced systems in the labour market, is granted.

 

It is a software application that can monitor in real time all flows of salaried labour and offers the possibility of recording basic terms of employment, such as salary, working hours, weekly working days, etc.

 

It is noted that this application thus provides the opportunity for competent inspectors to monitor the labour market, but also for the workers themselves to monitor their compliance with the terms of their employment directly through the system, without having to visit the District Offices of the Ministry of Labour and Social Insurance.

 

The aim of the cooperation is to protect labour rights, combat undeclared and under-declared work and strengthen the workforce in Cyprus by adopting good practices from Greece, the press release concludes.

 

Source: Cyprus News Agency

 

The number of people in Cyprus at risk of poverty or social exclusion fell in 2021 by 2,000 to 154,000, compared to 156,000 in 2020, according to the Cyprus Statistical Service, which published an infographic on “Poverty or Social Exclusion, 2021” on the occasion of the International Day for the Eradication of Poverty, celebrated every year on 17 October around the world.

 

In Cyprus, according to the Service, the percentage of the population at risk of poverty or social exclusion, i.e. living in households with disposable income below the poverty line (€10,011 per person equivalent) or living in households with severe material and social deprivation or living in households with a very low labour intensity index, reached 17.3% in 2021, compared to 17.6% in 2020.

 

The monetary poverty line for households with two adults and two dependent children was €21,024.

 

According to the data, 15.8% of the population at risk of poverty or social exclusion were men and 18.7% were women.

 

By age group, 19.2% of the population was in the 0 – 17 age group, 16.1% were 18 – 64 and 20% were 65 and over.

 

By main activity for ages 18 and over, the data showed that 8.4% were employed, 51.6% were unemployed and 20.5% were retired.

 

Moreover, the average equivalent disposable income per person was €19,649 in 2021, an increase of 1.1% compared to 2020.

 

Source: Cyprus News Agency

Cyprus residents’ trips abroad almost doubled in September 2022 compared to last year, according to data provided by the Cyprus Statistical Service.

 

A total of 122,450 residents of Cyprus returned from a trip abroad in September 2022, compared to 66,452 in the corresponding month last year, recording an increase of 84.3%.

 

The data show that the main countries from which the residents of Cyprus returned in September 2022 were Greece with 37.1%, the United Kingdom with 9.2% and Italy with 5.2%.

 

Source: Cyprus News Agency

Cyprus Meteorological Service issued a new yellow warning for thunderstorms, in effect until 1100 local time on Tuesday.

 

The warning says that isolated thunderstorms are expected to affect mainly western and southern parts of the island at times.

 

Rain rates are expected to range between 35 and 50 millimeters per hour, while hail is also likely to fall.

 

Source: Cyprus News Agency

 

The pressures on agricultural sector in Cyprus and in the rest of the EU, the co-financing of phytosanitary and veterinary programmes in the EU and issues relating to sustainable tuna fishing were discussed by Agriculture Minister Costas Kadis during the Agriculture and Fisheries Council of the European Union that took place in Luxembourg on Monday.

 

According to a press release, the discussion was mostly focused on the situation in agricultural markets and the challenges European farmers are faced with.

 

The EU’s Agriculture Ministers referred in particular to the continuing rise in production costs, especially due to the rising costs of energy, fertilisers and pesticides as a result of the Russian invasion of Ukraine.

 

As regards to fertilisers, the ministers agreed that additional measures to support their production and availability in the EU are necessary and invited the Commission to present proposals in this respect.

 

In his intervention, Kadis referred to the increase in production costs for Cypriot farmers as well as to the increase in food prices, which affects both producers and consumers.

 

Kadis presented the measures taken by the Cypriot government to support farmers, noting that Cyprus was one of the few countries that used all the relevant tools decided at European level.

 

The Agriculture Minister also stressed the need to take further immediate measures to support producers, recalling that Cyprus is fully dependent on imports to meet its needs in essential items for agriculture, mainly fertilisers.

 

Cyprus also expressed its support, along with another 20 member states, to a proposal by Austria and Hungary that the EU not impose restrictions on the co-financing of phytosanitary and veterinary programmes in the EU.

 

During his intervention, Kadis called on the Commission to ensure adequate funding for these programmes as they make a key contribution to the fight against animal diseases and pests.

 

Among other issues, the ministers prepared the EU’s participation in the annual meeting of the International Commission for the Conservation of Atlantic Tunas (ICCAT), which will take place on 14-21 November.

 

Speaking on the issue, Kadis said that Cyprus is in favour of ensuring sustainability and supported the adoption of a careful approach which ensures the conservation of other sensitive species and preserves biodiversity.

 

Kadis also referred to the issue of Turkey’s unilateral setting of a quota for long-finned tuna outside the framework of the ICCAT agreement. This action, he added, jeopardises the sustainability of the species and undermines the efforts of the Cypriot and European fleets. Kadis called for the European Commission’s assistance to ensure that the country respects what has been agreed.

 

Finally, Cyprus supported a joint initiative of France and Germany to end the systematic killing of male chicks in the EU, as well as an initiative of Finland regarding the importance of close cooperation between the Commission and Member States in the preparation of the EU framework for forest monitoring and strategic plans on forests.

 

Source: Cyprus News Agency

A yellow warning for a storm, from 3:00 to 16:00 on Sunday, October 16, has been issued by the Department of Meteorology.

According to the warning isolated heavy thunderstorms are expected to affect the area, at intervals, with the intensity of rain expected to range between 35 and 50 millimeters per hour.

Furthermore, the Department reports that hail is also likely to fall.

Source: Cyprus News Agency

Midea’s New European Air-to-Water Heat Pump Production Base Starts Construction in Italy

FELTRE, Italy–(BUSINESS WIRE)– A new air-to-water(ATW) heat pump production base of Midea, including production lines, heat pump R&D center and supporting facilities , starts construction in Italy officially. The base is located in the Clivet factory in Feltre of Italy, as Clivet is a high-end commercial air-conditioning brand under Midea Building Technology.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221014005596/en/

(Photo: Business Wire)

The base has received a 60 million euros investment, and its forecast annual ATW heat pump capacity will reach 300,000 units when the facility to be put into operation in the second quarter of 2024.

“With the concept of ‘local for local，western for western’, Midea is committed to building Clivet brand into a mainstream brand in the pan-European HVAC industry,” Cheng Lin, general manager of Midea Building Technology Overseas Marketing.

The company’s production and operating area in Feltre exceeds 50,000 square meters and the total number of employees exceeds 700. It has 35 sales offices, 260 retailer channels and 160 service outlets in Italy with branches in the UK, Germany, France, Southeast Europe, the United Arab Emirates and India.

After completion, the key materials of ATW heat pump such as water pump and plate exchange will be sourced from Europe, and the delivery time of heat pump products will be cut from the original five months to one month, which will further improve the production capacity and delivery efficiency of the overall customized heat pump solutions in Europe, solving the safety problems of the global heat pump supply chain, and comprehensively enhancing the influence and comprehensive competition of Media Building Technology in the European.

Amid the background of carbon neutrality, ATW heat pump, as a renewable energy utilization device, is one of the most efficient ways of electric heating. Compared with coal-fired boilers, heat pumps can reduce carbon emissions by 60-80 percent. Under the background of rising fossil energy prices and the gradual implementation of the EU’s “RepowerEU” plan, Europe has begun to gradually replace traditional fossil fuel heating with heat pump heating.

At present, heat pump products are also becoming an important growth pole of Midea Group. Data from industry data showed that Midea’s overall heat pump export has increased by 215 percent in the first seven months of this year, with the exports ranking in the forefront of China’s heat pump industry.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221014005596/en/

Contacts

Lori Luo

+8613512784739

luory17@midea.com

This material is not a CNA editorial material and CNA shall not bear responsibility for the accuracy of its content. In case you have any questions about the content, kindly refer to the contact person mentioned in the text of the press release.

Source: Cyprus News Agency

 

Non-performing loans (NPLs) in the Cypriot banking system amounted to €2.85 billion in July 2022 marking a slight decrease in comparison to the previous month.

 

According to the data released by the Central Bank of Cyprus (CBC), NPLs amounted to €2,850 million or 11% of total loans in the banking system. In comparison, total NPLs in June amounted to €2,919 or 11.2%.

 

Total loans with amounts past due over 90 days amounted to €2,014 million in July, compared to €2,052 in June. This stands at 7.7% of the total loans.

 

Furthermore, total restructured facilities amounted to €3,260 million in April from €3,268 million in the month before, the CBC said, of which, €1,405 million continue to be classified as NPLs.

 

Accumulated provisions amounted to €1,458 million or 46.5% of total non-performing loans, the CBC added.

 

According to the CBC, of the total NPLs, €1,147 million were held by households, while corporate NPLs amounted to €805 million. Of the total corporate bad loans, €752 million were held by small and medium sized enterprises (SMEs).

 

Source: Cyprus News Agency

The Ministry of Transport, Communications and Works and the government in general are drawing up a plan to promote the Postal services, said Transport Minister Yiannis Karousos, adding that by 2025 the postal services will be equipped with 210 electric motorcycles.

 

Speaking at a gathering in Limassol on Thursday on the occasion of World Postal Day, Karousos said that in the recent years, the Post Office in Cyprus has changed and continues to evolve on a daily basis.

 

He said that we are “in the midst of a creative process as regards the postal network, daily contact with citizens and changes that require the Postal Services to adapt to the needs of users and technology.”

 

In addition, Karousos said the Postal Services cannot ignore the fact that they have to contribute in their own way to stop the worsening of climate change and cultivate a culture of sustainable development.

 

He said the budget for the Cyprus Postal Services includes one million euro for the purchase of 210 electric motorcycles for postmen to use. The budget was made available through the Resilience and Recovery Fund.

 

Source: Cyprus News Agency

A ministerial panel discussed Friday the latest progress and prospects for the Eastern Mediterranean to become the focus of developments regarding energy security and energy transition, during the Eastern Mediterranean Natural Gas Forum (EMGF) Conference, which takes place in Nicosia.

 

Energy Ministers from Cyprus, Greece, Egypt and Jordan participated in the panel discussion, along with the EMGF Secretary General and the EU Energy Commissioner Kadri Simson who pointed out the interest of Europe to EMGF to wean itself off Russian natural gas.

 

Secretary General of EMGF Osama Mobarez said that the key of the success of the Forum in the past four years was that it has managed to bring together all the stakeholders such as states and companies of the private sector, since as he mentioned the challenges are big.

 

Regarding how the Eastern Mediterranean could contribute to Europe’s supply, the EMGF SG sent the message that “this may be challenging but not impossible”. He stressed the need to find the appropriate funds from the states and the EU to encourage companies to invest in that direction.

 

Minister of Petroleum and Mineral Resources, of Egypt Tarek El – Molla, said that Egypt’s infrastructure was the fastest way to help EU energy security since there are ready-made solutions with pipelines, infrastructure and infrastructure for liquefied natural gas (LNG), but there was also good cooperation with countries in the region.

 

He also referred to the signing of an MOU with the EU so that more natural gas from Israel reaches Egypt and is then exported to Europe, saying that this process is accelerating in the coming months.

 

El – Molla also expressed the hope that there will be more natural gas discoveries from Cyprus soon and that their exploitation processes will be accelerated by using the infrastructure in Egypt. He added that the recent demarcation agreement between Lebanon and Israel will help to see more quantities of natural gas soon, which as he said will somehow end up in Egypt. He added that there is also cooperation with the Palestinians to develop natural gas fields.

 

He added that to speed up all these processes, more funds are needed under a “safe umbrella”, such us international organizations.

 

On his part Minister of Environment and Energy of Greece, Kostas Skrekas, referred to the country’s ambitious goals for the green transition, as well as the important infrastructures that the country is promoting. As he said, with the completion of all the energy infrastructures being promoted, Greece will become the main entrance gate of electricity and LNG for the Balkans.

 

The Minister focused on the increased penetration of renewable energy sources (RES) in Greece in the last years, the increase in the interconnections with Bulgaria, North Macedonia, Romania and Italy as well as the prospects created with Eurasia Interconnector that will connect electrical grids of Greece, Cyprus and Israel. He also referred to the LNG infrastructures that have been created in recent years in Greece or are under construction.

 

The Minister of Energy, Commerce and Industry of Cyprus, Natasa Pilides, referred to the importance of exploiting natural gas discoveries found in the Cypriot EEZ, both for the benefit of Cyprus and to help the EU’s energy supply. She noted that she had on Thursday very fruitful meetings with the European Energy Commissioner on that, while also noting the role that EMGF could play in creating the appropriate synergies to accomplish that goal.

 

Pointing out the challenges in the energy sector for Cyprus, as a small isolated system, she mentioned that today Cyprus will celebrate the start of the construction work of the EuroAsia Interconnector project. which she described as a great achievement.

 

Jordan’s Minister of Energy and Mineral Resources Saleh Al-Kharabsheh said that in Jordan there has always been an effort to increase domestic energy sources with RES currently contributing 29% to the energy mix with a target to increase up to 50%.

 

He also referred to the efforts to upgrade the system so that it can respond to the use of more RES. At the same time, he said that Jordan is trying to double connections with neighbouring countries and also to create a network with Europe.

 

Energy Commissioner Kadri Simson referred to the important steps the EU is taking to wean itself off Russian natural gas and fossil fuels, not only for itself, but also for its partners such as Ukraine and Moldova, both in the short and long term.

 

She stressed the need to find alternative routes for natural gas and noted that this is why the EU has a special interest in the Eastern Mediterranean.

 

She noted at the same time that the EU is in the very final stages of the discussion to set higher environmental targets until 2030.

 

Source: Cyprus News Agency