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Press: Loans and deposits

28/09/2009 07:49
The major issues in today’s financial press are the Central Bank data on loans and deposits in August, the suspension of the CPC fine requested by the oil companies and CYSTAT’s data on the labour force in the second quarter of 2009.

The “Economy” inset of newspaper “Phileleftheros” refers to the Central Bank data on loans and deposits in August. According to the report, the Cypriots’ business loans in August stood at €21.21 billion and the credit growth on an annual basis fell to 9.58% from 11.31% in July. The deposits of the Cypriot businesses were less by €113.2 million in August and the deposit growth dropped by 1.06%.

Elsewhere the newspaper reports that the CSE’s request to the Nicosia City Council two years ago for the construction of two more floors of 640 sq. meters on the existing building is under examination.

Other headlines:

- Pension forms out in October – Item of €60 million in the budget

- CPC fines for minutes

- Fine of €42.5 million closes black holes

- VAT tax returns until October 12 – Fine to those who fail

The “Economy” inset of newspaper “Politis” highlights that the oil companies will seek to postpone the payment of the fine of €42.9 million imposed by the CPC. According to the report, they intend to issue a temporary decree that will delay the payment of the fine, which must be carried out within the period of three months and exceeds their annual net profits.

“Politis” also refers to the opening of the “Shipping Cyprus 2009” conference, which is held in Cyprus every two years.

The newspaper “Simerini” refers to the fine of €42.9 million imposed by the CPC to the oil companies. According to the report, Energy Manager, Solon Kasinis urged the CPC to continue its investigation for the year 2007-2008, while the Consumers’ Association wonders why those €43 million must end up to the state coffers.

The “Economy” inset of the newspaper refers to the Labour Force Research data on the second quarter of 2009 carried out by the Statistics’ Service.

Other headlines:

- Priority to tourist development – Commerce Minister’s statements on “Ice Cream Day”

- Taxes – Many bills in October

- Why does Demetra abandon Option Cassoulides

The “Economy” inset of newspaper “Alithia” refers to the expensiveness in the price of basic goods. According to the report, despite the 14 months after the end of the oil crisis, Cyprus is still one of the most expensive EU member states. All products have the same prices as those in summer 2008, apart from the mil.

Elsewhere the newspaper refers to the dirtiness of Paphos’ tourist industry.

Other headlines:

-International Shipping Conference – September 28-30

The newspaper “Haravgi” does not contain a financial inset.