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Press: 12hour strike lifted

19/09/2014 08:11
The major issues in today’s financial press are the arrest of former BOCY Chairman, Theodoros Aristodemou, for cases of Aristo Developers and the trade unions’ decision to suspend the 12hour strike scheduled for today.

The newspaper “Phileleftheros” refers to the arrest of former Chairman of Bank of Cyprus, Theodoros Aristodemou, for cases of Aristo Developers. As noted, the police also arrested his wife, the former engineer of Paphos City Council, Savvakis Savva and the municipal employee at the technical department, Savvoula Kouspou. The police will examine their involvement in the case of separation of 178 plots in Paphos after complaints by the City Council for changes in the initial plans.

The “Economy” inset of the newspaper refers to the decision of the trade unions to suspend the 12hour strike against the taxation of the lump sum scheduled for today. According to the report, the trade unions was satisfied by the government’s assurances that the taxation of the lump sum will be withdrawn and the scenario for the payment in installments becomes distant.

Other headlines:

-Cyprus outside ECB’s cheap money

-Russian companies open offices in Cyprus

-Businesses afraid of the external markets

-Critical appointment for stress tests

The “Economy” inset of newspaper “Simerini” refers to the warnings of the President of the Republic and the Finance Minister in Parliament in relation to the two foreclosures bills referred by Nicos Anastasiades. As noted, they stressed that if referrals are rejected and the bills are re-approved, the prospect of recovery and the economy will be possibly affected negatively.

The newspaper also reports that Bank of Cyprus announced its new share structure, as emerged from the participation of investors in the capital increase.

Other headlines:

-Government waiting for casino case

-Exit from MoU in 2015 – Aim is feasible, if requirements are kept, President says

-Ecologists complaint for bank fraud

The “Economy’ inset of newspaper “Haravgi” refers to the suspension of the strikes scheduled for today after the intervention of the President of the Republic. As noted, the President assured PASYDY and the educational organizations that the lump sum will not be taxed and the social dialogue with the trade unions will enter a new basis.

“Haravgi” also reports that the President of the Republic expressed his additional concerns for the economy from the Russian embargo.

Other headlines:

-President accuses parties for…obsession – Parliament must maintain the necessary balance in the institutional framework for foreclosures, AKEL says

-4+1 major shareholders in BOCY

-Cutback of funds for SMEs is unacceptable

-Strike at Vassiliko terminal

The newspaper “Alithia” refers to the arrest of former BOCY Chairman, Theodoros Aristodemou, owner of Aristo Developers. According to the report, the police issued an arrest warrant yesterday including ten offences and arrested Theodoros Aristodemou, his wife, a former municipal engineer and a municipal employee at the technical department of Paphos City Council. The case concerns a change in the initial plans of separation of plots at the area of Skali, Paphos.

The “Economy” inset of the newspaper refers to the seminar “The future of Russian businesses in Cyprus”. The President of the Republic expressed his content that Russia, investors have expressed interest in investing in Cyprus in sectors such as banks, tourism and properties.

Other headlines:

-President: Exit from MoU in 2015

-Sale of loan portfolio of BOCY

-Association of Retail Trade raises questions to POVEK

-ECB: €82bn cheap loans