CNA News – CNA – George Michael – Nicosia 26/05/2018 13:18

BRS upgrades Cyprus’s Long-Term Foreign and Local Currency � Issuer Ratings to BB

DBRS Ratings Limited (DBRS) has upgraded the Republic of Cyprus’s Long-Term Foreign and Local Currency � Issuer Ratings from BB (low) to BB and maintained the Positive trend. DBRS also confirmed the Short-Term Foreign and Local Currency � Issuer Ratings at R-4 and changed the trend to Positive from Stable.

General Government surplus grows to 2,1% of GDP in first four months of 2018

The General Government surplus increased by approximately Euros 233 mn in the first four months of the year and rose to Euros 425,1 mn or 2,1% of GDP, compared to a surplus of Euros 191,9 mn or 1,0% in the corresponding period of 2017.According to the preliminary General Government fiscal results for the first four months of 2018, prepared by the Statistical Service of Cyprus (CYSTAT), total revenue increased by 13,6%, or Euros 300,5 mn, while total expenditure rose by Euros 67,3 mn (3,3%) compared to the corresponding period of 2017 and reached Euros 2.084,7 mn, against Euros 2.017,4 mn last year.

Turkey pays a Greek Cypriot damages relating to property it occupies, in addition to VAT on legal costs

Turkey has paid, through the Council of Europe, a Greek Cypriot non � pecuniary damages, plus legal expenses, in addition to VAT in the order of Euros 14,526.75 in line with a European Court of Human Rights (ECHR) judgment. This is the first time since 2003 that Ankara has paid damages to a Greek Cypriot in a case concerning property.

Minister of Education addresses Ministerial Conference on Higher Education held in Paris

Minister of Education and Culture Kostas Champiaouris, declared his support for European initiatives to promote the European Student Card and European Networks Universities, that are crucial for the promotion of intercultural dialogue, democracy and freedom. He made the remark in a speech at the Ministerial Conference on Higher Education held in Paris from May 24-25. It was opened to registered European Higher Education Area (EHEA) delegations and included a Bologna Policy Forum that was an opportunity to pursue a dialogue between EHEA and non-EHEA countries.

ESAs greatest space competition begins in Nicosia in the presence of NASA/ESA top scientist

The Cyprus Space Exploration Organisation (CSEO) brings to Cyprus this weekend for the first time the European Space Agencys space start-ups competition Act In Space. The competition will be attended by top ESA/NASA scientist Marcello Coradini, who was ESA Programs Coordinator at the Jet Propulsion Laboratory (JPL) in Pasadena, California until end of August 2015. This space competition is considered by CSEO to be the most important one in high technology and space innovation ever organized in Cyprus.

Retail trade volume and value record significant increase in March

The Turnover Volume Index of Retail Trade increased by 10,7% in March 2018 compared to the corresponding month of the previous year and reached 110,8 units (base 2015=100), on the basis of provisional estimates, the Statistical Service reported on Friday. Between January-March 2018 the index is estimated to have recorded an increase of 9,3% compared to the same period of 2017.

New Ambassador in Norway briefs King on Cyprus issue, EEZ

Newly appointed Ambassador of Cyprus in Norway briefed the King of Norway on the latest developments of the Cyprus issue as well as in Cyprus Exclusive Economic Zone.During an official ceremony held on the 24th of May in the Palas in Oslo, Sotos Liasides presented his credentials to the King of Norway Harald V, as the new Cypriot Ambassador of Norway based in Stockholm.

IMO Chief to attend the Cyprus Shipping Chambers Annual Meeting

The International Maritime Organisation Secretary-General Kitack Lim will attend the Cyprus Shipping Chamber’s (CSC) 29th Annual Meeting to be held next Thursday, a move that places Cyprus in the spotlight of international shipping, the CSC General Director told CNA. In an interview with CNA, Thomas Kazakos highlighted Kitack presence in Cyprus, this is one of the few, if not the only time the IMO’s Chief will attend and address the General Meeting of a national ship owners association.

Nicosia hosts FIBA Europes annual General Assembly

Nicosia hosts today the annual General Assembly of FIBA Europe.In statements to CNA, President of Cyprus Basketball Federation Louis Demetriou, has said that this is a major event for Cyprus. For the first time, such a great sporting event takes place in Cyprus. We are very happy that the General Assembly will be held here and we believe that we will also promote Cypriot basketball and our island, he added.

Source: Cyprus News Agency