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Iraq army retakes Saddam’s birthplace

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Iraqis residents in Iran take part during a demonstration in Tehran

By Isra’a al-Rubei’i and Maggie Fick

The Iraqi army retook Saddam Hussein’s home village overnight, a symbolic victory in its struggle to seize back swathes of the country from Sunni insurgents.

Backed by helicopter gunships and helped by Shi’ite Muslim volunteers, the army recaptured the village of Awja in an hour-long battle on Thursday night, according to state media, police and local inhabitants.

Awja lies 8 km south of Tikrit, a city that remains in rebel hands since Islamic State, formerly the Islamic State in Iraq and the Levant (ISIL), launched a lightning assault across northern Iraq last month.

The offensive to retake Tikrit began on June 28, but the army has still failed to retake the city which fell after the police and army imploded last month in the face of the militant onslaught that also captured Mosul and other major Sunni areas.

The military spokesman of embattled Shi’ite Prime Minister Nuri al-Maliki said Awja had been “totally cleansed” and 30 militants killed, according to state television. A police source told Reuters three insurgents had been killed.

The birthplace of Saddam, Awja benefited hugely from the largesse of the Sunni dictator before his ousting by the US invasion of 2003 and locals remained fiercely loyal to the man who would select his relatives from the area for top posts.

Spokesman Qassim Atta said security forces had seized control of several government buildings, including a water treatment plant, but security sources and residents said militants were still holding Iraqi forces from entering Tikrit.

The army said it now held the 50-km stretch of highway running north from the city of Samarra – which is 100 km north of Baghdad – to Awja.

But the mainly Sunni communities along this corridor remain hostile towards government forces and army convoys continue to come under guerrilla attack.

Military officials in the United States, which has deployed advisers to Iraq, believe the Iraqi army will be able to defend Baghdad but struggle to recapture lost territory, mainly because of logistical weaknesses.

Government forces could benefit if cracks in the loose alliance of insurgents in Sunni majority areas widens.

In the town of Hawija, site of infighting last month between Islamist fighters and Sunni militia forces, members of local Sunni tribes told Reuters that community members had organised to fight against the militants in control of the town.

Members of the Al-Obaidi tribe were angered over the militants’ seizure of homes of local sheikhs and officials and had formed an armed group that killed five insurgents on patrol in the town on Friday, residents said.

“REGRETTABLE FAILURE”

The onslaught by Islamic State, an al Qaeda splinter group that has declared a medieval-style Islamic caliphate erasing the borders of Iraq and Syria, and threatened to march on Baghdad, has left the Shi’ite-led government in disarray.

Parliament was unable this week to pick a new government to unite the ethnically divided country, something the most senior Shi’ite cleric on Friday called a “regrettable failure”.

In a sermon delivered by his aide, Sistani Grand Ayatollah Ali al-Sistani called on politicians to avoid “mistakes of the past that have grave consequences for the future of the Iraqis.”

Sistani reiterated his call for the government to have “broad national acceptance”, a formulation many officials interpret as a call for Maliki – blamed by Sunnis for marginalising them and worsening ethnic tensions – to go.

In the governing system set up after Saddam’s fall, the prime minister has traditionally been Shi’ite, the speaker of parliament a Sunni and the largely ceremonial president a Kurd.

None of the blocs has settled on a nominee.

On June 13, Sistani called for Iraqis to take up arms against the insurgency – an unusually assertive declaration for the 83-year-old cleric, who favours a behind-the-scenes role.

In the Friday sermon, he reiterated volunteer fighters should be organised through an official framework.

The president of Iraq’s autonomous Kurdish region asked its parliament on Thursday to plan a referendum on independence. Although they share Baghdad’s determination to face down the Islamist insurgency, many Kurds see the crisis as a golden opportunity to create their own state.

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BoC to go ahead with €1bn recap (Update)

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CYPRUS-ECONOMY-EU-FINANCE

By George Psyllides

BANK of Cyprus (BoC) said on Friday it will seek investors for a potential capital increase of about €1bn in a bid to expedite restructuring and further strengthen the Group’s financial position.

The board decision ends weeks of speculation and reports of conflict between the bank’s board and senior government, as well as Central Bank (CBC) officials on the way and speed with which the recapitalisation should take place.

“The bank announces that its board of directors has decided at today’s meeting to proceed with exploring investor interest for a potential capital increase,” a statement said.

“The Group’s management will engage directly with institutional investors. A possible capital transaction will be structured in a way that allows the opportunity for existing shareholders to participate,” it added.

The board decision was unanimous that also put to rest rumours of a split among directors.

The announcement followed a five-hour board meeting, which was held after the CBC issued an ultimatum telling the bank to confirm adherence to the originally agreed timeframe for a capital increase ahead of EU-wide stress tests of some 128 systemic banks in the Eurozone, all of which, bar the Bank of Cyprus, have ensured ample capital supply.

The ultimatum was prompted by the delay observed in taking a decision as current board members sought ways to prevent their share from being diluted.

It had been suggested that current shareholders were unhappy about the terms laid down by the central bank but reports earlier on Friday said that a compromise had been found during a morning meeting between CBC Governor Chrystalla Giorghadji, BoC chairman Christis Hassapis, as well as the bank’s CEO, John Hourican.

The Cyprus News Agency said the compromise foresees that existing shareholders and new investors will have a right to bid in the first stage of the process.

An issue price will be set depending on the offers.

In a second stage, existing shareholders will be able to bid for up to 20 per cent of the shares during an internal procedure.

The first stage is expected to kick off mid July and end on July 25. The whole process should end on August 8.

The board will re-convene an ad-hoc meeting to resolve upon the final terms of any capital transaction.

The terms of any capital transaction would be subject to the approval of shareholders at an extraordinary general meeting “that would be convened when as appropriate,” the bank statement said.

Following the completion of such a transaction, the bank intends to seek a re-listing of its entire ordinary share capital on both the Cyprus Stock Exchange and the Athens Exchange.

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Truck driver crushed to death

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excavator

By Evie Andreou

A 32-year-old truck driver from Pachna, Giorgos Kyriakou, was killed in a quarry accident at Anogyra on Friday when a tracked excavator’s bucket fell and crushed him.

According to a police report, the driver was fatally injured when the bucket of the excavator got detached from the mechanical arm and fell on his chest.

The accident occurred at around 1.30pm when Kyriakou and the excavator’s operator were loading boulders blocks onto his truck.

At Limassol General Hospital, state coroner Nicolas Charalambous said that Kyriacou was injured on the right arm, chest and shoulder.

Kyriacou was the father of a 5-year-old child and his wife is expecting their second.

A re-enactment on the scene of the accident by officers of the department of Labour Inspection and of the Electromechanical Services (EMS), showed that the bucket’s screw was gradually loosening every time the mechanical arm was putting pressure on the blocks, resulting on its detachment.

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Denktash discharged

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serdar-Denktash

TURKISH Cypriot politician, Serdar Denktash, 55, was discharged on Friday afternoon from hospital.

According to the portal Haber Kibris, the angiogram he underwent on Thursday showed no serious problems.

He was taken to hospital earlier in the day when he complained with chest pains and sweating during a session of the assembly.

Serdar, son of the late Turkish Cypriot leader Rauf Denktash, was first taken to a public hospital in the north of Nicosia and from there to the private Near East Hospital’s intensive care unit.

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Road works on Limassol–Paphos highway

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eu fines police

THE right fast lane near the Aphrodite Hills Resort exit heading towards Paphos on the Limassol-Paphos highway will be closed on Monday from 7am until 1pm due to road works.

During the works, the traffic will be directed through the left lane.

The Public Works department urges drivers to comply with the temporary road signs and police instructions.

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Police raid in Larnaca

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POLICE SWEEP

SIX people were arrested in various police raids in Larnaca on Friday and are expected to be deported soon.

The arrests are part of a coordinated operation for the arrest and deportation of eight EU nationals, members of criminal groups that are considered dangerous, who have outstanding arrest warrants against them.

The operation was organised by Larnaca CID and included the anti-terror squad, the Immigration office and the police crime prevention unit.

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Shakespeare’s Othello Tower in Famagusta gets new lease of life

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Scaffolding has gone up on one of four towers of the medieval castle known as Othello Tower in Famagusta (Photo: Andreas Manolis)

By Michele Kambas

THE castle where Shakespeare set his drama “Othello” is getting a badly needed makeover after years of neglect stemming from the island’s long-time division.

Ravaged by natural decay and the politics splitting the island for at least 40, the citadel which came to be known as ‘Othello Tower’ will undergo emergency stabilisation work over the next eight months.

“The monument as a whole is not at risk, It will be here for another 500 years, but we will lose important elements of the monument… every time it rains, it takes a little bit of the monument with it,” said Rand Eppich, a conservator architect and international project manager at Tecnalia, a Spanish consultancy.

The imposing fortress in the city of Famagusta was first built by Lusignan conquerors in the 14th century. It was then remodelled and expanded in the 15th century by the Venetians, whose winged Lion of St. Mark emblem is still clearly visible, carved over its portal.

The restoration project is one of several earmarked by a bicommunal group of Greek and Turkish Cypriots who, acting with the approval of their respective political leaderships, are working to conserve the island’s cultural heritage.

The sandstone complex, with four towers, is a maze of dark alleys, cellars and a large banqueting hall supported by vaulted roofs. Signs of its expansion from a Lusignan fortress to a Venetian one are evident; arrow slits in walls seen from the inner parts of the complex look out onto the Venetian fortification.

“It is one fortress inside another. You can see the change in (defensive) techniques,” Eppich said.

Conservationists say the intervention will be as ‘light’ as possible. Only original materials and mortar will be used, and researchers have already located the ancient quarry where material will be extracted if necessary.

A stone stage in the central courtyard was used until recently for performances of Shakespeare’s tragedy “Othello”. This will be dismantled and replaced by one made from more suitable material, Eppich said.

Today Famagusta lies in an area traditionally shunned by international conservation projects for political reasons.

However, projects selected by the bicommunal team are eligible for funds, in this case from the European Union which has allocated €4m. The projects are implemented by the United Nations Development Programme (UNDP).

“Personally I feel a lot of relief that work has started,” archaeologist Sophocles Hadjisavvas said. “This fortress represents the very history of Famagusta.”

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Bulgarians deported after police round-up

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police car

Three Bulgarians have been deported after police in Larnaca arrested four Bulgarians and three Romanians on Friday night on suspicion of being part of criminal organisations.
The remaining four are being held and will be deported on Monday, police said.
Larnaca Police spokesman Charalambos Zahariou said the suspects were considered “undesirables”, that they have been under surveillance and that police had “strong indications that they were likely to be a danger to public order”.
However none of the EU citizens arrested had actually committed a crime at the time of their arrest.
Warrants for their arrest, according to the police report, were issued on Thrusday. Police were looking for eight people but couldn’t locate the last suspect.
Some of them were arrested in their homes and some in public places.
Zahariou said that police evaluated the personal data of the suspects and found that “they had no links to Cyprus, meaning that they had no family here and no job.”
Trying to explain why they were arrested, Zahariou said that the suspects were linked with a similar police raid that took place on June 13, when 12 people were arrested and a loaded pistol was found.
Zahariou said that police have possibly thwarted criminal activities the suspects were likely to engage in. He said the suspects were known to the police and that some of them were under investigation in relation to “serious criminal cases.”
Some of the suspects have been in Cyprus for years while others only recently came to the island.
According to the report, 60 police officers took part in the operation.

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Brazil shocked, angered by Neymar’s World Cup injury

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The loss of their star player has dented Brazil's chances of winning a record-extending sixth World Cup, and first on home soil

By Anthony Boadle and Todd Benson

Neymar’s exit from the World Cup due to a back injury left Brazilians shocked and angered, darkening the mood after the hosts’ 2-1 win over Colombia in the quarter-finals had sparked nationwide celebrations.

The loss of their star player has dented Brazil’s chances of winning a record-extending sixth World Cup, and first on home soil, and left Brazilians wondering who can replace him for Tuesday’s semi-final showdown with Germany.
“Neymar fractures vertebra and is out of the Cup,” the country’s three main newspapers headlined in their online editions, completely overshadowing accounts of the thrilling 2-1 victory over Colombia.

The papers published blow-by-blow diagrams of the play in which Neymar was kneed in the back by Colombian defender Juan Zuñiga, burying coverage of the stunning free-kick by David Luiz that sealed Brazil’s victory.

“This is terrible news. The worst possible news. Neymar is so important to us,” said student Fabian Ruiz, 19, walking with friends down a street in Belo Horizonte, dressed in Brazil’s trademark canary yellow shirts and quaffing beer from cans.
“Without him, the other players will have to fight more. It is going to be so difficult against Germany now.”

A large crowd of fans wearing Brazil shirts gathered outside the hotel in Fortaleza where Neymar was taken after the match. As he was being taken in on a stretcher, they chanted: “Força Neymar,” or, “Be strong Neymar.”

Social media was flooded with messages about the incident, with many Brazilians calling on world football’s governing body FIFA to punish Zuñiga in the same way Uruguay striker Luis Suarez was penalized for biting an Italian player.

One columnist went so far as to describe the challenge as a “savage attack.”
“Neymar out of the Cup because of cowardice and foul play by the Colombian player,” Fabricio Tavares, a Brazilian university professor, wrote on Facebook, echoing a common view heard on streets and in bars around Brazil.
Wishes for a speedy recovery poured in from all over, including Argentine playmaker Lionel Messi, Neymar’s team mate at Barcelona.
Even Brazil’s President Dilma Rousseff used her Twitter account to call on Brazilians to unite around Neymar and the national team.

Argentine great Diego Maradona also lamented Neymar’s injury, telling Venezuela-based Telesur TV network: “It concerns not only the Brazilian people but all of us who love football. It was his World Cup, in his country. He had great hopes.”

At a bar in Sao Paulo, couples were still dancing late on Friday night to celebrate the win over Colombia, but the news of Neymar’s injury dampened the mood.
“We were so happy but now it is sad. Very sad,” said Monica Ferreira, 27, who watched the game at the bar with friends. “He is our best player. We love him because he plays so hard when he puts on the Brazil shirt.”

Some fans thought Brazil’s chances were over without Neymar.
“He is our best player. I don’t think we can win the Cup without him,” said a distraught-looking Eduardo Gomes, a 33-year-old fan, as he texted to find out more about Neymar’s injury, drinking beer with his girlfriend sitting on his knee.
Other fans, more optimistic about their country’s chances, said Brazil could pull it together and play even better without Neymar, suggesting the team had relied too heavily on him.

“At this point I don’t really feel that we need him so badly,” said Jair de Souza, a Sao Paulo doorman who heard the news on the radio. “It’s shocking but the guys have handled worse pressure.”

Narcisio, a waiter at a sushi restaurant in Brasilia, said there were other good players waiting in the wings.
“Today Neymar did not play well and our team still performed well,” he said. “If we get past Germany, the Cup is ours.”

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Britain to present UNFICYP draft resolution to UNSC permanent members

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A draft resolution on the renewal of the mandate of the UN Peacekeeping Force in Cyprus (UNFICYP) will be presented next week by Britain to all permanent members of the UN Security Council.
The resolution is expected to be adopted on July 30.
July UN Security Council chair, Rwanda, announced that on July 23 the UN Security Council will meet with the countries participating in the Force and on July 24 the Security Council will hold consultations.
According to diplomatic sources, the members of the Security Council will be briefed by the Special Representative of the Secretary General in Cyprus, Lisa Buttenheim.
UNFICYP is one of the longest-running UN Peacekeeping missions. It was set up in 1964.

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Rebels seen fleeing eastern town as Kiev savours military victory

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Ukrainian soldiers drive a military vehicle with a Ukrainian flag at a checkpoint near Slaviansk in eastern Ukraine

By Maria Tsvetkova

Pro-Russian rebels were pulling out of a flashpoint area of easternUkraine on Saturday as authorities in Kiev savoured a major military success in its three-month fight against the separatists.

A Reuters reporter saw a convoy of around 20 military transport vehicles and buses filled with armed rebels driving out of Kramatorsk where they had gone after apparently earlier fleeing the separatist stronghold of Slaviansk nearby.

Interior Minister Arsen Avakov said a large number of separatists had fled Slaviansk after sustained fire from Ukrainian forces.
“A significant number of militants have left Slaviansk … along the way, our battle groups are greeting them. They are suffering losses and surrendering,” he said in a statement on his Facebook page.

A source close to the rebels told Reuters the rebels had been outnumbered by 50 to one. “(The Ukrainian forces) have greater numbers of troops and military hardware,” the source said, speaking on condition of anonymity.

Aleksandr Borodai, a leader of the self-proclaimed Donetsk People’s Republic, was quoted by the Interfax news agency as saying: “The punitive forces of Ukraine … moved into a large-scale offensive. Given the disproportionate numerical superiority of the enemy troops, units of the armed forces of the Donetsk People’s Republic were forced to leave their previous positions on the northern sector of the front.”

Ukrainian President Petro Poroshenko, after hearing a report from his newly-appointed chief of the armed forces general staff, ordered the Ukrainian flag to be run up on public buildings in Slaviansk.

The Ukrainian flag was later flying over Slaviansk, the website said, in place of the Russian one which had been there since rebels took over key buildings in April.
Slaviansk has been the strongest redoubt of militants fighting government forces in eastern Ukraine. Its re-capture would be Kiev’s most notable military victory in three months of fighting in which more than 200 Ukrainian troops have been killed as well as hundreds of civilians and rebels.

Poroshenko’s website said separatist fighters had come under mortar fire as they tried to break through government forces’ lines. The separatists had lost one tank and other armoured vehicles, the statement said.
“The president gave the order … for the state flag to be raised on Slaviansk’s town council offices,” the website said, referring to one of the city’s main rebel headquarters.
“Armed forces’ intelligence and the National Guard are now working in Slaviansk,” it said.

A Ukrainian paratrooper, Eduard, who was at an army checkpoint going into Slaviansk said: “It was a quiet night when suddenly a column of separatists appeared and began firing. They didn’t have much luck. Artillery guns hit part of the town and part of those here. Some of them managed to get out.”
Some of the rebels appeared to have moved to Kramatorsk but they were pulling out of there quickly on Saturday apparently fearing air strikes from Ukrainian planes overhead.

People in the town said they had begun to pull out around 4 a.m. and about 100 of them had left the town.
Uprisings in eastern Ukraine erupted in April as rebels took over state buildings, built a powerful arsenal of seized weapons and declared their independence from Kiev, calling the pro-European government illegitimate.

The crisis began when street protests ousted the Moscow-backed Viktor Yanukovich in late February for rejecting a landmark political and trade deal with the European Union in favour of closer ties with Russia.

Russia subsequently annexed Crimea and separatist revolts against the new Kiev authorities broke out with rebels declaring “people’s republics” and saying they wanted to join Russia.
Slaviansk, a city of 130,000 people, became a hotbed of resistance under the military command of Igor Strelkov, a Muscovite appointed as defence minister of the self-declared Donetsk People’s Republic.

It has increasingly appeared to be going its own way independently of the rebel groups controlling Donetsk, the main industrial hub, and Luhansk, and many of the rebel violations of a government ceasefire which expired last Monday appeared to come from Slaviansk.

But on Friday Strelkov made an impassioned appeal for help to Russia, whom Kiev blames for fanning the violence. He said without Moscow’s aid the region the rebels lay claim to, known as Novorossiya (New Russia), would fall to Kiev’s forces.
“Slaviansk will fall earlier than the rest,” he wrote on a rebel website.

The government launched a new offensive against the separatists on Tuesday after Poroshenko allowed a 10-day unilateral ceasefire to expire without being extended.

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Taliban insurgents set oil tankers ablaze in Afghanistan

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A policeman reacts at the site of burning fuel trucks after a overnight attack by the Taliban on the outskirts of Kabul

By Mirwais Harooni

Taliban insurgents set fire on Saturday to about 200 oil tanker trucks supplying fuel for NATO forces in an attack just outside the Afghan capital Kabul, police said.
Television footage showed black smoke billowing above the site of the attack, with the charred wreckage of dozens of trucks scattered around a vast parking space.
The Taliban claimed responsibility for the attack, saying the trucks carried fuel intended for US-led NATO forces.

It was unclear how the fire was started. Some Afghan media reported that insurgents had fired rockets at the tankers late on Friday. There were no immediate reports of casualties.

“The number of tankers on fire is not yet clear, but based on preliminary reports from police around 200 tankers have been burnt,” the interior ministry said in a statement.

The attack happened as Afghanistan prepares to announce preliminary results of the final round of a presidential election on Monday in a tense atmosphere. Each of the two candidates vying to succeed President Hamid Karzaia ccuses the other of mass fraud.

The Taliban have vowed to disrupt the election process. On Thursday, militants fired rockets into Kabul’s international airport, destroying a helicopter.

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Rosberg on pole, Hamilton makes wrong call

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Championship leader Nico Rosberg celebrates taking pole position for the British Grand Prix

By Alan Baldwin

Formula One championship leader Nico Rosberg made the right call to take pole position while Mercedes team-mate Lewis Hamilton got it all wrong at the British Grand Prix on Saturday.

As Hamilton aborted his last lap, assuming he could not improve on a time that looked good for pole in wet conditions, Rosberg kept on pushing and found the final sector of the circuit had dried enough to go faster.
“It was Lewis’ decision because he thought he cannot go quicker but Nico proved you can go quicker and he was proved right,” said Mercedes’ non-executive chairman Niki Lauda.

Hamilton, who needs to win his home race on Sunday to reduce the 29 point gap between the two title rivals with 11 races remaining, found himself suddenly down in sixth place on the starting grid.
“I don’t have much of an answer,” the downcast Briton told the BBC when asked why he had not completed his final lap. “I just decided not to do the lap.”
Hamilton was not the only one to make a major error of judgement on a changeable day at Silverstone that caught out some of the biggest names in the sport and rewarded some of those more used to lining up at the back.

Ferrari and Williams completely misjudged the weather and failed to get any of their drivers through the first phase when rain started to fall before they had set quick enough times.

Fernando Alonso and Kimi Raikkonen qualified 19th and 20th respectively for Ferrari. Brazilian Felipe Massa, who took pole at the previous race in Austria, was 18th with Williams team-mate Valtteri Bottas 17th.
“It was a perfect storm,” said Alonso. “It’s a narrow line between becoming a hero and a big mistake and we became a big mistake today.”

Rosberg, as so often this season, got it right when it mattered – even if he was almost denied his chance by Hamilton going slow in front of him.
“It was a quite crazy qualifying,” the German told reporters.
“It was quite wet…I told the guys ‘that’s it.’ And then we were sitting in the box (garage) and we just came to a general conclusion that we might as well go out and have a look at the track.
“Then it seemed like we should give it a go, but even then I still didn’t really believe that the track would be better. But what made it was the last sector…it was a lot drier.”

Rosberg said he crossed the line to start his final lap a blink of an eye before the chequered flag and so close to Hamilton he was practically in his gearbox.
“With regards to the championship it’s good for me that Lewis is down in sixth. It will take him some time to fight through, although I expect him to come through quite quickly,” smiled the German.
“I think it’s very likely we will be racing each other again. We seem to be very quick on this track, it really suits the car. I think it could be a good battle again.”

Red Bull’s quadruple world champion Sebastian Vettel qualified alongside Rosberg on an all-German front row with McLaren’s Jenson Button – who has never appeared on the podium at his home race – in third.

The weekend is an emotional one for the Briton, his first home grand prix without his late father John in whose memory he is wearing a special pink helmet while fans have been urged to wear ‘Pink for Papa’ as part of a charity appeal.

“I know it’s only a third in qualifying but for us after the last 18 months, we had no chance of getting this result,” said the 2009 champion, who was urged last week to try harder by McLaren boss Ron Dennis.
“It’s nice in front of a home crowd to qualify well.”

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Kvitova hands Bouchard royal thumping to win Wimbledon

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Petra Kvitova of the Czech Republic produced a brilliant performance to claim her second Wimbledon crown

By Pritha Sarkar

Petra Kvitova produced a majestic performance to end Eugenie Bouchard’s hopes of becoming the first Canadian to win a grand slam title with a 6-3 6-0 win in the Wimbledon final on Saturday.

The Czech captured her second title at the All England Club having also lifted the Rosewater Dish in 2011.
Much had been made of Bouchard’s raw power and determination to triumph in what she calls the “Temple of Tennis” but the 20-year-old was unable to cope with sixth seed Kvitova’s more varied attacking style.
Bouchard was watched from the Royal Box by the British princess she had been named after but the occasion of playing in her first major final appeared to overwhelm the 13th seed.

Kvitova hit rip-roaring winners left, right and centre to win the most one-sided final since Steffi Graf also dropped only three games against Monica Seles in 1992.
Bouchard dropped serve in the fourth game after Kvitova hit a scoring crosscourt winner to end an entertaining rally that had sent both players scampering around the court.

Kvitova’s only blip during a 55-minute demolition job was when she first attempted to serve out the set at 5-2. She dropped her serve but then broke her rival in the next game with a thumping return.

The crowd tried to lift Bouchard’s sagging spirits with cries of “Come on Genie” but left-hander Kvitova simply went into overdrive in the second, winning it in 22 blistering minutes, and ended her victim’s ordeal with a sizzling backhand crosscourt winner.

Speaking to BBC Sport following her win, Kvitova said: “I had great tactics from my coach – he always knows how I need to play.
“It was great play from Eugenie – you will be back soon. It was definitely a tough match. All my team helped me a lot throughout the years to come back here and win the trophy again.
“I can’t say it’s more special but after three years to be back here with the trophy is so special.
“I have to say thank to everyone who supports me all the time, it is a special time for me. Hopefully it will be good for everyone in the Czech Republic to have a second trophy. It is my second title so I hope it will be a little bit easier for me to handle.”

As for Bouchard, she said: “It was really tough for me today but I am proud of how I have played for these two weeks, I love coming back to Wimbledon so thank you guys. I feel like it’s a step in the right direction, I ‘m not sure I deserve all your love today but I certainly appreciate it. “

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Fitch upgrades BoC, Hellenic

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By Constantinos Psillides
FITCH Ratings has upgraded Bank of Cyprus’ (BoC) long-term issuer default ratings (IDR) to CC from RD and Hellenic Bank’s (HB) to CCC from RD, according to a statement issued by the credit rating agency on Friday.
The upgrade comes only a day after the BoC board unanimously agreed to seek investors for a potential capital increase of about €1b in a bid to expedite restructuring and further strengthen the group’s financial position.
Fitch has also upgraded the two banks’ short-term IDR to C from RD. At the same time, the agency has affirmed BoC’s Viability Rating (VR) at CC and HB’s at CCC.
While this is good news for the banks, the credit rating agency still has its reservations. A C rating indicates, according to Fitch’s classification description, that there are still substantial risks. An RD rating indicates “an issuer that in Fitch Ratings’ opinion has experienced an uncured payment default on a bond, loan or other material financial obligation but which has not entered into bankruptcy filings, administration, receivership, liquidation or other formal winding-up procedure, and which has not otherwise ceased operating.”
The agency said the upgrades follow the lifting of legal restrictions imposed by the Central Bank of Cyprus (CBC) on the free movement of capital within Cyprus on May 30.
“Fitch’s view is that although restrictions remain on cross-border outward capital flows, these banks are now substantively able to service all their obligations”.
Fitch believes that BoC’s and HB’s VRs are influenced by the recession in Cyprus, which continues to put at risk the two banks’ very weak asset quality, as well as weak profitability and vulnerable capitalisation.
The agency considers asset quality as one of the main concerns for Cypriot banks. In 1Q14 both banks’ non-performing loans (NPLs) continued to increase, albeit at a lower rate than past quarters, reaching 55 per cent at BoC and 49 per cent at HB. Fitch expects loan quality to weaken further in the foreseeable future, although more moderately.
“The two banks’ most important challenge will be to improve NPL recoveries, for which banks have internally strengthened their recovery units. NPL coverage remained low in Fitch’s view in a stress scenario at 35 per cent for BoC and 43 per cent for HB at end-1Q14,” it added.
Noting that customer funding in 2013 started to stabilise following large deposit outflows in 2012, Fitch points out that the two banks’ deposit franchises remain and highly vulnerable to Cyprus’ recession and could also be affected by the recent lifting of domestic capital controls and notably the anticipated gradual lifting of cross-border capital controls.
The agency notes that in the absence of further liquidity shocks, BoC’s depedency on central bank funding will decline further, albeit it will remain large in the foreseeable future, indicating material funding constraints.
With regard to the two banks’ Viability Rating, Fitch notes that while limited in the short-term, the VRs could be upgraded if pressure from unreserved NPLs ease and/or capital materially improves and further profitability improvements are evidenced.
BoC’s VR could also be upgraded if there is a significant reduction in central bank funding. An upgrade of the Cypriot sovereign rating (B-/Stable) would also put upward rating pressure on the banks, if this is associated with improved macro-economic fundamentals.
Conversely, the VRs would be downgraded because of a weakening of the banks’ asset quality and profitability, resulting in significant capital erosion, or if their funding profiles become more unstable and deteriorate.
In Fitch’s view, BoC remains more at risk of a VR downgrade than HB.

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Government aims to collect €100m through IPT

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By Constantinos Psillides
THE government aims to collect €100 million in Immovable Property Tax (IPT) Interior Minister Socratis Hasikos said on Saturday, adding that a bill reforming IPT must be put to a plenum vote before the House closes for summer vacation.
Since July 10 is the last session and parties have objections to the bill, Hasikos will probably have to ask for an extraordinary session.
“This is not the first time something like that has happened. A number of times in the past the House was called back for an extraordinary session to take care of outstanding issues and I’m positive that the same thing will happen now, if need be,” he said, explaining that there is some reaction by MPs on the proposed bill.
The bill, approved by the Cabinet of Ministers only a week ago, exempts property valued up to €200,000 from IPT, while properties valued in excess of €200,000 will now be charged at 0.1 per cent.
Current legislation calculated property tax using 1980 valuations, levying a tiered tax from 6 to 19 per cent, depending on value brackets. Revised property values to reflect 2013 prices have now been established, meaning the government can afford to adjust tax brackets accordingly.
Hasikos made clear that the bill isn’t written in stone but its goal is. “We are looking to collect €100 million, the same amount we collected last year. If House parties have suggestions to make regarding the bill we are of course willing to discuss them, as long as the amount we are going for is guaranteed.”
Reactions to the bill come mainly from opposition party AKEL.
The House interior committee revealed on July 4 several concerns over the way property revaluation to 2013 prices was made.
Until now, properties were valued at 1980 values for taxation purposes, but these were revised by the Land and Surveys department to reflect 2013 values. A land registry official told the committee that some areas saw property values revised at six times their previous value and others at 36.
After the session, committee chairman Yiorgos Lamaris said that committee members also expressed reservations with regard to the bill stipulating that local authorities will be required to reduce property taxation from 0.15 per cent to 0.022 per cent, in order to take account of 2013 prices.

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Kittel wins Le Tour opener as Cavendish crashes

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Germany's Marcel Kittel, who won an impressive four stages last year, took the famous Yellow Jersey

By Martyn Herman

GERMAN Marcel Kittel powered to victory in the opening stage of the Tour de France on Saturday while Britain’s Mark Cavendish crashed heavily in the final straight.
Giant Shimano rider Kittel, who also won the first stage last year, took the overall leader’s Yellow Jersey after easily outsprinting Slovakian Peter Sagan and Lithuanian Ramunas Navardauskas.

Cavendish, performing in his mother’s home town of Harrogate, seemed too eager to succeed in the closing stages and collided with Australian Simon Gerrans with both riders taking a tumble.

After being helped by the race doctor Cavendish crossed the finish line with his right arm folded and clearly in pain.
With huge crowds lining the mild ascents, the opening stage was a massive success as the Tour made its return to Britain seven years after London staged the Grand Depart.

The peloton kept a three-man breakaway group, which featured German veteran Jens Voigt, on a tight leash.
The 42-year-old Voigt, taking part in a record-equalling 17th Tour de France, went solo after the intermediate sprint, leaving Frenchmen Nicolas Edet and Benoit Jarrier behind.

The move earned him the polka dot jersey for the mountain classification.
The stage was no walk in the park and several riders, including Spain’s Joaquim Rodriguez and top French hopeThibaut Pinot, were caught off guard when the peloton split.
They made it back to the bunch who were slowed by the big crowds on some narrow roads.

Defending champion Chris Froome of Britain was sixth.

Sunday’s second stage is a treacherous 201-km trek from York to Sheffield.

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Our View: Can bad management and poor judgement be regarded as crimes?

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AFTER the cataclysmic events of March 2013, the then newly-elected president Nicos Anastasiades vowed there would be in-depth investigations into the causes for the collapse of the economy and those responsible would be brought to justice. The Attorney-General was given instructions to undertake criminal investigations and at the same time a committee of inquiry under three retired judges was set up to look into the political responsibilities for what had happened.

Such was the public anger and resentment at what had happened, it was considered an imperative to identify those responsible and make them pay. But this seems easier said than done. The committee identified some political responsibilities, but its final report was rather vague and incomplete, as the judges decided they could not look into issues of a criminal nature that were being investigated by the Attorney-General. This gave an excuse to the House ethics committee to embark on its own investigation into the collapse of the banking sector, but this degenerated into a farce, deputies focusing primarily on exposing businesses and individuals that took money out of the country before the Eurogroup meetings, as if this was a crime and had caused the collapse of the banking sector.

During all this time the Attorney-General’s investigation has been proceeding at what could only be described as snail’s pace. There has been talk that police investigators did not have the necessary training or know-how to conduct such a complex probe and that forensic experts had to be brought in. It took a while for this to happen. Meanwhile, Attorney-General Costas Clerides has been publicly criticised, repeatedly, by politicians and newspaper commentators for the slowness of the process. His stock response has been that this was a very complicated investigation that involved looking into mountains of data and that he would only bring charges when he had a watertight case.

Fears are being expressed by some that this might never happen, not because Clerides wants to protect anyone but because, as a former judge, he is inexperienced and hence over-cautious with regard to building a prosecution case. These doubts would not have been expressed if he had not said, several months ago after a meeting with Anastasiades, that in a few weeks decisions would be announced.

We are still waiting. More recently he defended his office by pointing a finger at the police investigators, claiming they were working slowly. The impression given was that the police were working independently of the Attorney-General’s office, which did not make any sense.

It was against this background that Anastasiades called a meeting at his office that was attended by Clerides, the deputy AG, the justice minister and members of the House Ethics Committee. After this, the government spokesman reiterated the government’s determination to “carry out a full and in-depth investigation of every illegal act” that would identify those responsible for “the mismanagement of the banking sector that led to thousands of our fellow citizens paying an immense financial cost.”

The president said no expense would be spared in speeding up the process – the team of experts helping investigators would be strengthened and funds for purchasing special software to assist police work would be made available. It was also announced that a liaison officer would be appointed to improve communications between the police and AG’s office, confirming that co-operation was poor. All this reflects badly on Clerides. His admission that he was not in control of the police investigations gave a very bad impression, made worse by Anastasiades’ direct intervention, which indicated that the president was losing his patience with the AG.

Perhaps the failure to prosecute anyone is not down to any shortcomings at the police or the state legal services. It may be that it is very difficult to build a criminal case against the CEOs and chairmen of the banks. Making bad investment decisions, having no risk management policies, unwisely expanding operations are all big mistakes but do they constitute criminal offences? Could bad management and poor judgment be regarded as crimes? If they were, the president at the time of the collapse should have been behind bars by now, because he was as guilty as the bankers of making decisions with catastrophic consequences for the economy.

It remains to be seen whether the additional resources that would be provided by the government would speed up the investigations and lead to evidence that would justify prosecutions. But this is looking like anything but a certainty at present.

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Old foes Federer and Djokovic meet again in Wimbledon final

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Heavyweights: Roger Federer has an 18-16 advantage in matches against Novak Djokovic but Sunday's showpiece will be only the second meeting the duo have contested on grass

By Michael Hann

OLD rivalries will be renewed on and off the court in the men’s Wimbledon final on Sunday afternoon when Roger Federer, bidding for a record eighth title, takes on top seed Novak Djokovic.

While two of the game’s most recognisable figures meet on Centre Court, their ‘super coaches’ will be pitted against each other once again in southwest London.
Former champions Boris Becker and Stefan Edberg were embroiled in one of the All England Club’s fiercest rivalries from 1988 to 1990, competing in three successive finals with Edberg winning two of them.

Since then the pair have turned their attention to coaching with Djokovic and Becker joining forces in December last year and Federer and Edberg following suit.
“It’s going really well,” 17-time grand slam champion Federer said of his relationship with Swede Edberg. “My game’s back where I hoped it would be from one year ago.
“Stefan is clearly a piece of the puzzle, so is my fitness coach, Severin (Luthi), and everybody around me. They make it possible for me to wake up every morning motivated, healthy, fit and eager to play.”

The Swiss has not reached a grand slam final since clinching the Wimbledon title in 2012.
Serbian Djokovic won Wimbledon in 2011, and last captured a grand slam title at the Australian Open in 2013, but he has lost his last three major finals, including Wimbledon last year to Andy Murray.

Federer has an 18-16 advantage in matches against Djokovic but Sunday’s showpiece will be only the second meeting the duo have contested on grass.
Federer won the previous battle in the semi-final en route to his seventh Wimbledon crown in 2012 and the 32-year-old also beat Djokovic in the 2007 US Open final – the only grand slam final the pair have contested.

“I must say I’ve enjoyed the matches against him,” said Federer who will surpass Pete Sampras and William Renshaw as the only man with eight Wimbledon singles titles if he beats the Serb.
“We didn’t come through the rankings together; I was established while he was coming up.
“But ever since he’s won grand slams and became world No.1, it’s been a cool rivalry, in my opinion.”

Djokovic is itching to claim his seventh grand slam title.
“It’s a good chance for me to try to win against him on his favourite surface, on his favourite court,” said the 27-year-old who will play in his third All England Club final in four years.

“This is where he has had the most success in his career, winning many titles but I know that I can win.
“I should have won a few matches that I lost in finals of grand slams over the last couple of years.
“But it’s an experience. It’s a learning process. It’s understanding, identifying where the problem is, pushing for it and working on it.”

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Investigation after high number of prescriptions

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By Constantinos Psillides

PROMINENT anti-drug psychiatrist Dr Kyriakos Veresies is under investigation for possible drug-trafficking, according to the police.
A police source told the Cyprus Mail that the Drug Squad are looking into a number of prescriptions Veresies wrote for oxycontin tablets.

“At the moment,” said the police source, “we are looking into accusations made by the Pharmaceutical Services. If proper evidence comes up, then this will turn into a criminal investigation.”

Veresies appears to have prescribed 44,288 oxycontin tablets to five patients – a Greek Cypriot woman and her daughter and three Turkish Cypriots – from September 2012 to February 2014. The prescribed amount is considered by Pharmaceutical Services to be way over the required amount used for heroin addicts’ rehabilitation.

Veresies’ alleged misconduct alerted Pharmaceutical Services who sent an official to a pharmacy in Larnaca – where most of the prescriptions were made up – to investigate. Upon discovering an alarmingly high number of prescriptions, Phramaceutical Services notified the Drug Squad.

The value of the prescribed oxycontin has been estimated to be to around €39,000.

Veresies is a prominent figure in the war on drugs. He runs a rehabilitation clinic in addition to KENTHEA, a non-governmental organisation against addictions. He has publicly spoken against legalisation and the need to toughen drug laws.

He has not yet responded to accusations.

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