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Cyprus News Agency: News in English, 12-11-27

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

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


CONTENTS

  • [01] President says workers' basic rights secured
  • [02] Youth- and sports-related issues at EU Council in Brussels
  • [03] IRD collections drop by 1% in January-October 2012
  • [04] Petroleum sales up by 11.3% in October 2012
  • [05] Income from ship management reaches €435 million in H1 2012

  • [01] President says workers' basic rights secured

    President of Cyprus Demetris Christofias has said that the government has driven a hard bargain with its international lenders -IMF, ECB, EC- to reach a bailout agreement that will help the country exit recession and return to growth and it is succeeding in securing workers' basic rights.

    He said that "he hasn`t signed any agreement (with the lenders) so far" , adding that he will address the nation on the issue of the memorandum with the troika.

    President Christofias who was addressing an event in the coastal city of Limassol on Sunday, stressed that the current economic crisis which has hit Cyprus is a result of exogenous , adding that there is an attempt to put the burdens of the crisis on the millions of poor, weak and unemployed EU citizens.

    [02] Youth- and sports-related issues at EU Council in Brussels

    Youth-related issues as well as sport matters will be discussed during the second day of the EU Education, Youth, Culture and Sport Council in Brussels under the presidency of Cypriot Minister for Education and Culture George Demosthenous.

    EU Ministers will discuss during the first session youth related issues while in the afternoon they will devote discussions on sport matters.

    Before the Youth session, the usual informal meeting ("structured dialogue") will take place.

    [03] IRD collections drop by 1% in January-October 2012

    The drop in Inland Revenue Department (IRD) collections during the first ten months of the year 2012 was restricted to 1% or €10.06 million, from a drop of 4% or €60.09 million until September this year, due to the spectacular increase by 37% or €50 million in October.

    IRD collections during the period January-October 2012 reached €1.57 billion, compared to €1.58 billion during the respective period of 2011, recording a slight drop of 1%, according to IRD data published on Tuesday.

    On a monthly basis, IRD collections dropped in October 2012 by 11.11% or €23 million, reaching €184 million from €207 million in September this year. In August, IRD collections had reached €198.29 million.

    [04] Petroleum sales up by 11.3% in October 2012

    Petroleum sales were up by 11.3% in October compared to September data released on Tuesday by the Cyprus Statistical Service indicate.

    At the same time total petroleum products stocks fell by 19.5% at the end of the month.

    During the period January - October 2012, total sales of petroleum products declined by 8.1% compared to the corresponding period of the previous year.

    [05] Income from ship management reaches €435 million in H1 2012

    Income from ship management in the first half of 2012 reached €435 million or 5% of Cyprus GDP, increased by 2% increase, demonstrating the resilience of the industry despite the global financial crisis.

    Figures released by the Central Bank of Cyprus show that the income from ship management increased by 2% compared with 428 million of the second half of 2011. The ship management's contribution to the Cyprus GDP reached 5% compared with 4.9% of the previous half, which represents the highest figure in the last two years.

    Speaking to CNA, Thomas Kazakos, Director-General of the Cyprus Shipping Chamber welcomed this "seemingly small but steadily positive rise in the ship management contribution to Cyprus` GDP."


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