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Cyprus News Agency: News in English, 13-08-30

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

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


CONTENTS

  • [01] Knesset Speaker to pay official visit to Cyprus
  • [02] CUT research team participates in conference in Switzerland
  • [03] President Anastasiades: We need to prove we can overcome obstacles
  • [04] Parliament's decision broadens Resolution Authority on Banks
  • [05] Euro area annual inflation down to 1.3% in August

  • [01] Knesset Speaker to pay official visit to Cyprus

    Speaker of the Knesset Yuli-Yoel Edelstein will be arriving in Cyprus on Sunday for an official visit, at the invitation of President of the House of Representatives Yiannakis Omirou.

    During his stay in Cyprus, Edelstein will be received by President of the Republic Nicos Anastasiades and Archbishop of the Church of Cyprus Chrysostomos II.

    Edelstein`s programme at the House of Representatives includes a meeting with Omirou and the signing of a Protocol of Cooperation between the two parliaments, which includes a provision for the setting up of friendship groups on both sides.

    [02] CUT research team participates in conference in Switzerland

    The Cyprus University of Technology (CUT), through the research team "Water and Health" of the Cyprus International Institute, participated in a world conference in Switzerland on "Environment and Health: Bridging South, North, East and West".

    The conference took place in Basil, Switzerland, from August 19 to 23, with the participation of over 1,800 delegates.

    The Cypriot research team represented CUT with a speech and two poster projects, under the guidance of Dr. Constantinos Makris, who also presided over a meeting on the exposure of pregnant women and infants to food pollutants and health problems, while three researchers won prizes for the studies they presented.

    [03] President Anastasiades: We need to prove we can overcome obstacles

    President of the Republic Nicos Anastasiades has said the time we are going through is hard for everyone and that no one should expect difficulties would be dealt with in a short time.

    Addressing on Thursday an event at the Presidential Palace for the Cyprus Scouts Association for the "Scouts of the Republic" award, President Anastasiades said that the problems that "we inherited are not recent but are the repercussions of long term mistakes that we need to put right and give a new outlook to all sectors and prove that we can overcome obstacles".

    In return for a 10 billion-euro bailout ($13 billion), for Cyprus, the troika of international lenders demanded the winding up of the island`s second largest bank Laiki and a haircut on deposits over 100,000 euros in its largest lender Bank of Cyprus.

    [04] Parliament's decision broadens Resolution Authority on Banks

    Cyprus Parliament voted Thursday night a law providing for the resolution authority on banks to comprise a trio, consisting of the Minister of Finance, Cyprus Central Bank and Securities and Exchange Commission, thus ending the absolute power of Central Bank on bank resolution.

    Under its new composition, the authority will take decisions by simple majority. The plenary session decided with 35 votes in favor and 17 abstentions, while there were no votes against it. The ruling Democratic Rally (DISY), the Socialists (EDEK), the Green Party and Citizens Alliance vote in favor, while the left-wing AKEL and the European Party abstained from voting.

    Earlier this week Central Bank Governor Panicos Demetriades pointed out that new members in the resolution authority will complicate decision-making and said he will not participate in the authority under a broader composition.

    [05] Euro area annual inflation down to 1.3% in August

    Euro area annual inflation is expected to be 1.3% in August 2013, down from 1.6% in July according to a flash estimate Eurostat, the statistical office of the European Union.

    Looking at the main components of euro area inflation, food, alcohol & tobacco is expected to have the highest annual rate in August (3.3%, compared with 3.5% in July), followed by services (1.5%, compared with 1.4% in July), non-energy industrial goods (0.3%, compared with 0.4% in July), and energy (-0.4%, compared with 1.6% in July).


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