CNA News – CNA – Kyriaki Christodoulou – Nicosia 06/12/2017 15:11

Cyprus, Greece, Israel and Italy sign MoU in relation to the EastMed pipeline project

Cyprus, Greece, Israel and Italy signed on Tuesday in Nicosia a Memorandum of Understanding (MoU) on cooperation in relation to the EastMed pipeline project, and expressed their objective for an Intergovernmental Agreement within 2018. Answering to press questions after the MOU signing ceremony, CEO of IGI Poseidon Elio Ruggeri said that the project should be seen in the economic environment in the time of its realization which in 2025.

FM: Reduction of UNFICYPs military personnel will have no bearing on its operational capacity

Cyprus Foreign Ministry said on Tuesday that if the UN Secretary-Generals report regarding UNFICYPs review is endorsed by the Security Council, the reduction of its military personnel will have no bearing on UNFICYP’s operational capacity, as it mainly affects support staff, noting that “assurances at the highest level have been received in this regard.

Head of Election Service disappointed with low interest of new voters to register

Head of the Election Service Demetris Demetriou has described “depressing” the picture regarding the interest of new voters to register in the electoral roll, in view of the 2018 presidential elections. Speaking to CNA, he said a total of 3,591 applications were submitted by new voters by Tuesday morning, while the total number of new voters is approximately 40,000.

Financial Ombudsman urges borrowers to restructure their NPLs the soonest to avoid foreclosures

Financial Ombudsman of the Republic of Cyprus Pavlos Ioannou urged all borrowers that have non – performing loans (NPLs) to restructure them as soon as possible in order not to face radical solutions as foreclosures and repossessions. Speaking in a seminar organized by the Association for the Protection of borrowers in Limassol, Ioannou suggested that the recent call of the Central Bank Governor Chrystalla Yiorkadji to the banks to procced with radical solution for NPLs concerns nothing else than foreclosures and repossessions.

Unemployment drops by 16.9% in November 2017 compared to November last year

The unemployed persons, registered at the District Labour Offices on the last day of November 2017, reached 33,780. Based on the seasonally adjusted data that show the trend of unemployment, the number of registered unemployed for November 2017 decreased to 31,045 persons in comparison to 31,497 in the previous month, according to figures released on Tuesday by the Statistical Service.

.

CBC sets countercyclical capital buffer at 0%

The countercyclical capital buffer (CCyB) rate for the period 1 January 2018 – 31 March 2018 has been set at 0%, the Central Bank of Cyprus said on Tuesday. The Central Bank set the CCyB rate for the period 1 January 2018 – 31 March 2018 at 0% of the total risk exposure amount of each licenced credit institution and each investment firm that provides the investment services of dealing on own account or underwriting of financial instruments and / or placing of financial instruments on a firm commitment basis; and has not been exempted by the CBC due to its small or medium size, according to a press release.

Eurostat: Volume of retail trade drops by 1.1% in euro area and by 0.5% in EU28

In October 2017 compared with September 2017, the seasonally adjusted volume of retail trade decreased by 1.1% in the euro area (EA19) and by 0.5% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In September, the retail trade volume rose by 0.8% in the euro area and by 0.2% in the EU28. In October 2017 compared with October 2016, the calendar adjusted retail sales index increased by 0.4% in the euro area and by 0.9% in the EU28.

Young Cypriot among winners of Queen’s Young Leaders Award

A young Cypriot from Larnaca has been chosen as one of this year’s Queen’s Young Leaders Award winners in recognition of her work to help disadvantaged people in the community. In a press release the Queen’s Young Leaders programme says is today delighted to reveal that Antonia Michailidi from Cyprus has been chosen as one of the final ever Queen’s Young Leaders Award winners in recognition of the lead she is taking in her community to change lives.

Source: Cyprus News Agency