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Just days away from a default
Author: George Psyllides THE ELECTRICITY company (EAC) last night approved a state request for a €100 million loan following a stark warning that without the cash the government would default in the...
View Article‘Not enough support for children with problems’
Author: Poly Pantelides WELFARE is still failing to work alongside other state services to ensure that children’s rights are secured, Commissioner for Children’s Rights Leda Koursoumba said...
View ArticleHomophobia in schools ‘a real problem’
Author: Stefanos Evripidou HOMOPHOBIC BULLYING is a “real problem” in schools which needs to be tackled through a series of measures taken by the Education Ministry, said Ombudswoman Eliza Savvidou in...
View ArticleAG about-turn on pensions provision
Author: George Psyllides ATTORNEY-general Petros Clerides yesterday did an about-turn over a disagreement with international lenders in interpreting a provision that changes the way civil service...
View ArticleCyprus at high risk of fiscal stress in the short-term, report says
Author: George Psyllides CYPRUS appears to be at high risk of fiscal stress in the short-term and also faces high sustainability risks in the medium and long run, according to a European Commission...
View Article‘Save our jobs’ hundreds of Orphanides workers plead
Author: Elias Hazou HUNDREDS of workers at Orphanides Supermarkets took to the streets yesterday asking for their jobs to be saved as a cloud of uncertainty hung over the future of the debt-ridden...
View Article‘Bitter budget’ likely to pass
Author: Poly Pantelides LAWMAKERS yesterday discussed the 2013 budget incorporating the terms agreed between Cyprus and its international lenders, which most deputies said they will vote for despite...
View Article‘There will be no default’
THE FINANCE ministry said yesterday it has secured the necessary cash to cover its current financing needs and there was no possibility of a default, a day after a high-ranking official warned that...
View ArticleDefaulting on public-sector wages could have triggered a ‘run on the government’
Author: Elias Hazou THE QUESTION ‘what would happen had the state defaulted on civil servants’ 12th and 13th salaries’ has elicited mixed reactions, reminiscent of the speculation on the (supposed)...
View ArticleOur View: Bad banking and economic practices led to Orphanides closure
THE BANKS now hold the future of the Orphanides Supermarket chain in their hands, but there does not appear much they could do to save the public company which has debts in the region of €250 million....
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Flooding cause anger and grief
Author: Poly Pantelides AFTER a night of rain almost islandwide, which continued into much of yesterday causing countless problems to homes, shops and drivers, the met office says there will be...
View ArticleLarge haul for drugs squad
Author: Stefanos Evripidou TWO MEN were arrested by the Drugs Squad (YKAN) in the Nicosia district yesterday in connection with the possession of drugs, pistols and bullets but not before police gave...
View ArticleMother of two killed in road accident
A MOTHER of two was killed in a road accident yesterday while her 14-month-old daughter who was sitting in the back seat survived the crash with minor injuries. Maria Michael Kostea, 34, from Liopetri,...
View ArticleCY: thanks for the cash
Author: Poly Pantelides CYPRUS Airways (CY) yesterday thanked the parliament’s finance committee for releasing over €16 million earmarked for a share capital increase, which the ailing airline said...
View ArticleTeachers walk out early to protest austerity
Author: Poly Pantelides SECONDARY school students were sent home early yesterday as their teachers walked out of classrooms for the day’s last period, protesting the austerity measures that impact...
View Article‘Huge consequences’ from Orphanides closure
Author: Poly Pantelides ALLOWING Orphanides Supermarkets to collapse will impact the economy to the tune of €400 million and have huge consequences across the board, the head of the employers and...
View ArticleFive BoC board members to quit
FIVE board members of the Bank of Cyprus (BoC) have expressed their intention to step down, the bank said yesterday.The five are: Vasilis Rologis, Costas Severis, Anna Diogenous, Giorgos Georgiades...
View ArticleCabinet gives go-ahead to borrow from semi-state bodies
THE CABINET yesterday gave its approval to the state borrowing a total of €250 million from three semi-governmental organisations so it can pay wages and pensions in the public sector for the month of...
View ArticleBudget approved with 27 changes
Author: Stefanos Evripidou PARLIAMENT LAST night voted through the 2013 budget incorporating the terms agreed between Cyprus and its international lenders after marathon speeches made over two days by...
View ArticleOur View: AKEL sticks to safer ground during budget debate
THE CYPRUS problem always slips into the House debate for the budget. There is no reason for it, but the politicians have always been much more comfortable talking about Turkish intransigence and their...
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