CNA News – CNA – Emilia Christofi – CYPRUS/Nicosia 22/11/2017 12:31

Cyprus-Greece-Egypt cooperation expands to the benefit of the region, leaders stress

The tripartite cooperation between Cyprus, Greece and Egypt is expanding to the benefit of the three peoples and the whole region, President of Cyprus Nicos Anastasiades, Greek Prime Minister Alexis Tsipras and Egyptian President Abdel Fattah el-Sisi have stressed.

The three leaders met on Tuesday in Nicosia for their fifth Tripartite Summit. Their sixth meeting will take next year on the Greek island of Crete.

The Joint Declaration adopted after the summit notes the leaders firm commitment to further broaden and deepen their trilateral partnership in various fields of common interest, one of which is energy.

President Anastasiades and PM of Lebanon hold meeting in Cyprus

President of Cyprus Nicos Anastasiades and Prime Minister of Lebanon Saad Hariri held a meeting today in Cyprus.

Government Spokesman Nikos Christodoulides wrote on his account on twitter, that the meeting was warm and fruitful.

Egypt’s El Sisi endorses EuroAfrica Interconnector

President of Egypt, Abdel Fattah El-Sisi, gave his full support and commitment to the 1,619 km sub-sea EuroAfrica Interconnector cable that will connect the electricity grids of Egypt, Cyprus and Greece with Europe.

President El-Sisi made his declaration during an historic meeting with the Chairman and CEO of the EuroAfrica Interconnector, Nasos Ktorides in Nicosia, during his official state visit to Cyprus, a press release issued by EuroAfrica Interconnector writes.

Stability and confidence a sine qua non in reinvigorating economic activity, FinMin says

The creation of conditions for stability and confidence is a prerequisite for reinvigorating the economic activity in Cyprus, Minister of Finance Harris Georgiades said on Tuesday.

This cannot be achieved with worlds but with specific moves and initiatives such as the continuation of prudent and responsible public financial management and to avoid deficits, he said addressing a conference titled Reintroducing ourselves, New beginning.

Bank of Cyprus eyes a Euros 0.45 billion loan sale

Bank of Cyprus, the island’s largest lender is pursuing a sale of a package of loans amounting to Euros 450 million as part of its efforts to reduce its non-performing loans which amounted to Euros 9.16 billion or 46.7% of its total loan book by end-September.

Meanwhile it was announced that Bank of Cyprus Holdings PLC announced Euros 553 mn loss after tax attributable to the owners of the Company for 9M2017, compared to a profit after tax of Euros 62 mn for 9M2016.

Capital Intelligence assigns positive outlook to Hellenic Bank’s financial strength rating

Capital Intelligence Ratings (CI) has assigned a positive outlook to Hellenic Banks (HB) Financial Strength Rating (FSR), reflecting the positive trend in loss reserve coverage, as well as the improved outlook for the Cyprus economy, with sustained economic growth and an improving property market expected to contribute to a reduction in the Banks NPLs.

Trade deficit increases by Euros 136.2 million January-August 2017

Trade deficit recorded an increase of Euros 136.2 million for the period January-August 2017 in comparison to the same period in 2016.

According to the monthly electronic publication Intra-Extra EU Trade Statistics (by commodity and country) for January-August 2017, issued today by Cyprus Statistical Service (CyStat), the trade deficit stood at Euros 2.893,6 mn in January- August 2017 compared to Euros 2.757,4 mn in the corresponding period of 2016.

Education Minister Kadis, calls for EU support to ensure the equal treatment of Cyprus in EC – OECD joint programs

Minister of Education, Youth and Sport, Kostas Kadis officially called for EU support in order to ensure the equal treatment of Cyprus in all European Commission – OECD education programs, in the context ofthe Cooperation Agreement on Education and Skills between the Commission and of the OECD. Minister Kostas Kadis made the request during the Council of Ministers of Education, Culture and Sport of the EU, convening in Brussels.

Source: Cyprus News Agency