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Silikou Village                                     Photo © CyprusExpat.co.uk

10 August 2017

1. Results of Block “11” to determine ENI’s next targets, with two drillings by Q1 2018

Italian energy major ENI expects the results of an exploratory drilling in the field “Onisiforos” of Cyprus’ offshore Block “11”, to determine its next drilling target within the Republic’s Exclusive Economic Zone (EEZ).
Reliable sources have told CNA that ENI prepares two drillings in Cyprus’ EEZ, which should be completed by the first quarter of 2018, but the targets have not yet been determined, since the company wants first to evaluate the results of the drilling by TOTAL/ENI Consortium which takes place in Cyprus’ Block “11”.

2. Cyprus–UK Agreement on regulating development in the British Bases enters final stages

The implementation of an Agreement, signed between the Republic of Cyprus and the United Kingdom nearly four years ago, to regulate land development within the British Bases has entered its final stages.The Agreement allows a large part of the Bases area to be included in the town planning zones, so they can be developed. Specifically, 78% of the BB territory, around 200 square kilometers, that includes private properties, will fall under the regulation.
 
3. Turkish occupied municipalities reject unilateral actions which create faits accomplis

Cyprus` Turkish occupied municipalities reject any unilateral action which could help further cement faits accomplis or create new ones in violation of international law.
"The Union of Occupied Municipalities expresses its concern over Turkish announcements as regards the return of Maronites to their villages as well as reports relating to the opening up of the fenced-off part of Famagusta (known as Varosha) under `Turkish Cypriot administration`" the Committee says in a press release issued here today.

4. Cyprus saves 2.1% of its GDP or €0,4 billion through ESM loan

Cyprus’ budgetary savings, generated as a result of borrowing from the ESM/EFSF instead of turning to the markets, stood at 2.1% of its GDP or €0,4 billion, according to ESM calculations published on Wednesday.
The ESM contributed €6.3 billion to Cyprus’ bailout programme out of a total of €10 billion, approved in 2013.
 
5. Building permits increase by 8.9% in January-May

An increase of 8.9% was recorded in the building permits issued in the period January - May 2017, compared to the corresponding period last year, according to data released on Wednesday by the Statistical Service of Cyprus.
 During the period January – May 2017, 2.368 building permits were issued compared to 2.156 in the corresponding period of the previous year. The total value of these permits increased by 28.3% and the total area by 36.2%. Τhe number of dwelling units recorded an increase of 41%.
 
6. Trade deficit rises in first five months in 2017

The trade deficit of Cyprus rose in the first five months of the year to €2.108,2mn, compared to €1.660,3mn in the corresponding period of 2016, the Statistical Service reported on Wednesday.
 Total imports/arrivals (covering total imports from third countries and arrivals from other EU Member States) in January-May 2017 amounted to €3.144,1mn as compared to €2.858,9mn in January-May 2016.

7. Officials expect no problems in electricity supply as temperatures remain high

Officials expect no problems in the supply of electricity in Cyprus, despite high temperatures during the summer season.
According to Christakis Hadjilaou, the Deputy Spokesman for the Transmission System Operator Cyprus (TSO) the demand for electricity ranges between 900 and 1.000 MW.
 
8. CNA begins Arabic news service in September

The Cyprus News Agency announces that it will offer an Arabic-language news service from September 2017.

9. Preparations well underway for the 56th Wine Festival in Limassol

Preparations are well underway for the 56th Wine Festival that will take place in the southern coastal town of Limassol on August 31 to September 10, with the participation of the town`s four biggest wineries, smaller wineries and kiosks with traditional products and local food. Limassol Mayor Nikos Nikolaides invited everyone to attend the Festival. He was speaking at a ceremony during which the statue of a man wearing the traditional Cypriot men`s garment (the vraka) was put in its place, at the entrance of the Municipal Garden.CNA

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