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Trachypedoula Village                                          Photo © CyprusExpat.co.uk

05 October 2017

1. President: We will protest and take action against taxes imposed by illegal regime on products for the enclaved

The Republic of Cyprus will protest and take further action or measures, if necessary, in response to taxes imposed by the illegal Turkish Cypriot regime, in the island’s Turkish occupied areas, on the transfer of products to enclaved Greek Cypriots, the President of the Republic Nicos Anastasiades said on Wednesday, speaking on the sidelines of a football day organised by the Special Olympics Cyprus and the Cyprus Football Association. Presidential Commissioner Fotis Fotiou issued a statement on the issue. Furthermore, the President addressed an event organised by “Lapithos” refugee association, saying that Turkey remained intransigent during the Cyprus talks.

2. Cyprus-UK Brexit talks to focus on Cypriots` rights in SBA

Negotiations will begin between the Republic of Cyprus and the UK regarding the rights of Cypriots residing or working within the Sovereign British Base Areas in Cyprus, Minister of Foreign Affairs Ioannis Kasoulides has said.

3. Russian President says relations with Cyprus are gaining momentum

President of the Russian Federation, Vladimir Putin, has stressed that the relations with the Republic of Cyprus are gaining momentum. Putin was speaking at a ceremony, during which new Ambassador of the Republic of Cyprus to the Russian Federation, Leonidas Markides, presented his credentials.

4. Finance Minister submits `balanced` 2018 state budget

Minister of Finance Harris Georgiades submitted on Wednesday to the President of the House of Representatives Demetris Syllouris, the 2018 state budget. The Minister said that the budget is balanced, with no new taxes or new measures to burden households and businesses. The 2018 budget, including the medium term fiscal framework for 2018 - 2020, foresees a primary surplus of 3.8% of GDP, expected to remain at the same level for the next two years.

5. No tolerance in the build-up of new NPLs, says CBC official as ECB publishes new guidelines

The signals sent by the European banking supervisor is that there will be no tolerance in the build-up of new non-performing loans, a CBC senior official told CNA, as the Single Supervisory Mechanism (SSM) issued a new draft addendum to its guidance for NPL reduction.

6. MEPs debate next EU Summit topics, along with Cyprus, German elections and Catalonia

The European Parliament debated the topics that will dominate the agenda of the upcoming European Council, on October 19 and 20 in Brussels, focusing on migration and asylum issues. Deviating from the agenda, European Parliamentarians also touched upon the recent results in German elections, as well as the situation in Catalonia. References were also made to Cyprus and Turkey. Representatives of political groups at the European Parliament urged Spanish and Catalan authorities to opt for dialogue as the only way to overcome the crisis, following last Sunday’s referendum in this autonomous region of Spain.

7. Von der Leyen pays first visit of German Defence Minister to Cyprus

German Defence Minister Ursula von der Leyen paid on Wednesday a visit to Cyprus, the first of a German Defence Minister to the island. The German Minister was welcomed by her Cypriot counterpart Christoforos Fokaides in the “ZENON” Coordination Center in the coastal town of Larnaka where delegations from both countries held consultations.

8. Registered unemployed in Cyprus declines to a new six-year low

The number of registered unemployed in September 2017 declined to pre-crisis levels, according to figures released on Wednesday by Cyprus’ Statistical Service.

9. Mortgage rates at historic low, deposits rates up in August

Data released by the Central Bank of Cyprus on Wednesday show that mortgage rates reached in August 2017 a historic low, while at the same time consumer loans rates stood at a 15-month high.

10. Eurostat: Retail trade down in Cyprus; current account balance neutral

In Cyprus retail trade decreased by -1.4 in July 2017 compared to June 2017 and increased by 0.4% since July 2016 (latest available data), according to estimates from Eurostat. Furthermore, in Cyprus during Q2 2017, the current account balance moved to neutral (0.0 billion euro) form negative (-0.7billion euro in the previous quarter).CNA

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