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Govt. seeks to lift ban on sale of loans to foreign banks & funds

parliament   5

The Finance Ministry has submitted a bill seeking to lift a ban on the sale of loans to foreign banks and funds that parliament had passed in January.

The bill provides for the amendment of article 16A of the Operations of Credit Institutions Act, which has been in force since it was published in the Republic of Cyprus` Government Gazette on January 30 this year.

The bill brings national line in line with the EU directive relating to the operations...

Gender pay gap at 15.8pct

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The gender pay gap in Cyprus in 2013 stood at 15.8 per cent, the EU statistical service said on Thursday.

The gender pay gap in the EU was 16.4 per cent, Eurostat said. It ranged between 5 per cent in Slovenia to more than 20 per cent in Estonia, Austria, the Czech Republic and Germany.

The gender pay gap represents the difference between average gross hourly earnings of male and female employees as a percentage of average gross hourly earnings...

Expanding its reach: ISIS and the Caucasus

ISIS Chechen fighters

By Alexey Malashenko

In September 2014, the terrorist organization known as the Islamic State in Iraq and Syria (ISIS) announced that it was ready “to start a war in Chechnya” and even “liberate Chechnya” and the entire Caucasus. Its ambitions clearly exceeded its capabilities, however, as this has not yet happened.

In fact, rather than ISIS bringing the war to the Caucasus, many Caucasus fighters have joined the war in the Middle East. While it is hard to determine exactly...

ECB to launch 1 trillion euro bond buying scheme on March 9


The European Central Bank said it will start its new government bond-buying programme on March 9, hoping that pumping new cash into the sagging euro zone economy will boost growth and lift inflation.

The ECB will purchase sovereign debt until at least September 2016.

“We will on 9 March 2015 start purchasing euro-dominated public sector securities in the secondary market. We will also continue to purchase asset-backed securities and covered bonds which we started last year,” ECB President...

ECB governing council leaves interest rates unchanged

Press conference of the European Central Bank

By Stelios Orphanides

The European Central Bank’s governing decided to leave the euro’s interest rates unchanged.

Following the governing council’s today decision, the rates on main refinancing operations and marginal lending facilities , as well as the deposit facility remain at 0.05 per cent, 0.30 per cent and -0.20 per cent, respectively, the ECB said in a statement.

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Ukraine military says one soldier killed in past 24 hours in east

A woman walks along a street near a destroyed open market in Donetsk

By Pavel Polityuk and Natalia Zinets

One Ukrainian serviceman was killed and another wounded in fighting with pro-Russian separatists in the east, military spokesman Vladislav Seleznyov said on Thursday, as Kiev accused rebels of increasing violations of a ceasefire deal.

President Petro Poroshenko, whose initiative to boost the armed forces by a third was passed easily in parliament, has called the ceasefire the last chance for peace with the pro-Russian rebels.

Accusations of continued violence on both sides show the...

Evans is no spitter, says Van Gaal

Bad boys: Jonny Evans and Papiss Cisse appeared to spit at each other at St James’ Park during Man United’s 1-0 win

By Ed Osmond

MANCHESTER United manager Louis van Gaal attempted to play down the controversy following an apparent spitting exchange between his defender Jonny Evans and
Newcastle United forward Papiss Cisse on Wednesday night.
The pair tussled during the first half of the Premier League game at St James’ Park which the Manchester side won 1-0 and Evans appeared to spit towards Cisse as he lay on the ground before the Newcastle player got to his feet and...

February inflation seen at -1.4% mainly on energy, Cystat says


By Stelios Orphanides

The deflation rate accelerated in February to 1.4 per cent from 1.3 per cent the month before mainly on falling energy prices, the statistical service said.

Consumer prices rose by over 0.4 per cent in February compared to January, Cystat said in a statement on its website today.

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Kerry briefs Iran’s Gulf rivals on nuclear talks

U.S. Secretary of State Kerry walks with Saudi Arabia's Foreign Minister Saud bin Faisal bin Abdulaziz Al Saud during meeting of Gulf foreign ministers in Riyadh

By Arshad Mohammed

US Secretary of State John Kerry met Saudi Arabia’s king and Gulf Arab foreign ministers in Riyadh on Thursday to reassure them that a possible nuclear deal with old adversary Iran would not damage their interests.

Kerry arrived in Riyadh late on Wednesday from Montreux, Switzerland, where he said he had made progress in talks with Iranian Foreign Minister Mohammad Javad Zarif.

China, one of the six nations involved in the Iran negotiations, which aim to establish...

The unsaid

Stories from the lives of friends

By Maria Gregoriou

Having shaken off some of the winter cold, the exhibition scene is starting to offer us some diverse and interesting suggestions. As of Saturday, the Point Centre for Contemporary Art in Nicosia will be showcasing their first exhibition for summer with internationally acclaimed artist Christodoulos Panayiotou, under the title Stories from the Lives of My Friends.

Panayiotou, from Limassol, will be bringing together existing and newly commissioned work for his first solo exhibition in Cyprus.

The artist...

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