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Cyprus News Agency: News in English, 13-07-22

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

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


CONTENTS

  • [01] Cyprus public debt reached 86.9% in Q1 2013
  • [02] Limassol inaugurates first annual Beer Festival
  • [03] Cyprus aims at strengthening ties with Japan

  • [01] Cyprus public debt reached 86.9% in Q1 2013

    Cyprus' public debt in the first quarter of 2013 accelerated to 86.9% of GDP, marking an increase of 12.6% year on year, according to figures released by the European Union Statistical Service (Eurostat).

    From 85.8% of GDP in the fourth quarter of 2012, Cyprus' public debt increased to 86.9% of GDP in the first quarter of 2013. Compared to the Q1 of 2012 (74.3%), the Cypriot debt accelerated by 12.6%.

    Cyprus received a €10 billion bailout from the European Union, the European Central Bank and the International Monetary Fund. Cyprus applied for financial assistance after its two largest banks sought state support, following massive write-downs of the Greek bond holdings amounting to €4.5 billion.

    [02] Limassol inaugurates first annual Beer Festival

    The first annual Beer Festival is taking place between July 26 - 28 in the southern coastal city of Limassol. The private initiative is supported by the municipality, in an effort to present citizens and tourists with more alternatives "especially amid today's difficult conditions", according to the city's Mayor, Andreas Christou.

    The event is attended by almost all local production or import companies. Speaking on Monday, Christou said that he expected people to respond to this initiative and wished the event to be repeated. He said moreover that Limassol is known in Cyprus for the wine, but noted that the island's well known and - for years - only brewery was established here.

    [03] Cyprus aims at strengthening ties with Japan

    Cyprus aims at strengthening bilateral ties with Japan, new Ambassador to Tokyo Ioanna Mallioti assured the Emperor Akihito, while presenting her credentials.

    During an official ceremony at the Imperial Palace, in Tokyo, on July 17, the Emperor referred to hydrocarbon discoveries in Cyprus' exclusive economic zone, saying this is good news for the country, and asked if Nicosia also uses nuclear energy.

    According to an official announcement, he also spoke about the friendly ties between the two countries and conveyed his wishes to the President of the Republic Nicos Anastasiades and the people of Cyprus.

    In her address, the new Ambassador to Japan, based in China, conveyed the President's warm wishes to His Imperial Majesty, the members of the imperial family and the friendly people of Japan.


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