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

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

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


CONTENTS

  • [01] FINMIN BANKS BONDS - PARTICIPATION
  • [02] EUROSTAT - INFLATION - CYPRUS
  • [03] POLICE EU FUNDS - ARRESTS

  • [01] FINMIN BANKS BONDS - PARTICIPATION

    Cypriot banks participation in national bonds remains stable, the Ministry of Finance has said.

    In an official press release issued here today, the Ministry states that 2011 net state funding from Cypriot financial institutions is 842 million euro.

    Participation of Cypriot banks in issues of national bonds has remained practically unchanged since 2004, with the average investment for the period of 2004 2007 reaching 3.298 billion euro, whilst for the period 2008 2011 was 3.054 billion euro.

    In reference to liquidity boosts of the Cypriot economy from the issuance of bonds abroad the Ministry states that during the period of 2008 to 2011 the states main borrowing came from abroad with an influx to the economy of the amount of 3,370 million euro.

    These include EMTN bonds of a value of 2,483 million euro from foreign investors alone, international loans minus payments for international loans of a value of 171 million euro and borrowing through ECP bonds in 2011 of a value of 716 million euro.

    [02] EUROSTAT - INFLATION - CYPRUS

    Annual harmonised inflation in Cyprus recorded a small increase in October to 3.2% from 2.5% in September according to Eurostat data published on Wednesday.

    Average inflation in the Eurozone remained unchanged at 3.0% whilst in the EU it recorded a slight increase at 3.4% compared to 3.3% in September.

    Inflation in Greece remained unchanged at 2.9%.

    [03] POLICE EU FUNDS - ARRESTS

    Two people were arrested on Wednesday to facilitate investigations as regards five offenses relating with EU funds.

    According to a written statement of Police Spokesman Michalis Katsounotos, the offenses concern conspiracy to defraud, fraud, active and passive bribery in the private sector in contravention of the Council of Europe Convention for the penalization of corruption, violation of the legislation ratifying the Convention as regards the protection of financial interests of the European Communities and legalization of income derived from illegal activities, which took place between 2008 and 2010 in Nicosia and Larnaca.

    The offenses, which are being investigated by the police, have to do with the interstate dissemination of information and promotion of milk products programme to third countries co-funded by the EU by 50%, Cyprus and another EU member state by 30% and the organizations, which undertook the project by 20%.


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