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Cyprus News Agency: News in English, 10-11-16

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <http://www.cyna.org.cy>


CONTENTS

  • [01] FINANCE MINISTER - S&P - ECONOMY
  • [02] PRESIDENT - ECONOMY
  • [03] PRESIDENT - NEW YORK MEETING
  • [04] CNA - BTA - AGREEMENT

  • [01] FINANCE MINISTER - S&P - ECONOMY

    Standard and Poor`s downgraded Cyprus` credit rating from A+ to A, according to Minister of Finance Charilaos Stavrakis, who said that although the decision was negative, the government had covered its borrowing needs from abroad for the next few months and thus the downgrading would not have a direct impact on the taxpayer.

    Stavrakis said Standard and Poor`s had cited the large size of the banking sector in Cyprus, the activities of Cypriot banks in Greece and the exposure of banks to investments in Greek state bonds.

    He expressed the confidence of the government in the Cypriot banking system and his satisfaction over the positive reference of Standard and Poor`s to the 2011 state budget.

    Stavrakis noted that Standard and Poor`s shared the government`s projections for a 6% deficit for 2010 and 4.5% for 2011.

    [02] PRESIDENT - ECONOMY

    President of the Republic of Cyprus Demetris Christofias has called on the social partners and the political parties to show understanding and responsibility in an effort to agree on measures which will help the country get out of the economic crisis.

    Addressing the 2010 Annual General Meeting of the Cyprus Chamber of Commerce and Industry (CCCI), President Christofias announced that a credit rating agency had begun the process to downgrade the economy, adding that had the necessary understanding been shown by all social partners, this might not have happened.

    In his speech, President Christofias said that the current economic situation in Cyprus warrants alertness, cooperation and intensification of efforts, as well as responsibility and self-discipline.

    The President called on political parties, trade unions and the business community to put aside temporary political costs and take hard but necessary decisions that will guarantee results for everybody.

    [03] PRESIDENT - NEW YORK MEETING

    President of the Republic Demetris Christofias departed on Tuesday for New York, via London, in order to meet on November 18 with UN Secretary General Ban Ki-moon and Turkish Cypriot leader Dervis Eroglu.

    The meetings agenda is expected to be finalised on Tuesday, following Monday`s contacts of all parties involved with UN Under-Secretary-General for Political Affairs Lynn Pascoe.

    According to a UN Spokesperson, the Secretary General will host the two Cypriot leaders in a working lunch on Thursday, followed by a meeting in the afternoon. The tripartite meeting is expected to last two hours.

    The spokesperson also said that an announcement referring to the working lunch and the ensuing meeting would be issued soon.

    [04] CNA - BTA - AGREEMENT

    The Cyprus News Agency (CNA) and the Bulgarian News Agency (BTA) renewed on Tuesday, in Plovdiv, Bulgaria, their non-commercial cooperation agreement.

    The agreement was signed by CNA Board Chairman Costakis Constantinou, and BTA Director General Maxim Minchev, in the presence of Plovdiv Regional Governor Ivan Totev and Bulgarian Member of Parliament Vili Shopova.

    According to the agreement, the two national news agencies moved to renew cooperation, convinced that through the strengthening of cooperation between them as the national news agencies of Cyprus and Bulgaria and by rendering reciprocal professional assistance they can contribute towards a better flow of information between Cyprus and Bulgaria.

    The BTA Director General welcomed the renewal of cooperation between the two news agencies, saying this will contribute to the further development of relations between the two news agencies and the two countries. The CNA Board Chairman said the signing of the new agreement reflects the excellent relations between the two news agencies.


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