10/06/2011 07:30
The major issues in today’s financial press are the meeting held by the President of the Republic with the trade unions of the public, semi-governmental and local authorities employees, the overtimes and the benefits that the Cyta employees enjoy and the Customs Department and VAT data on the revenues until May.
The “Economy” inset of newspaper “Phileleftheros” refers to the meeting that President Christofias will have next week with the trade unions of the public, semi-governmental and local authorities employees so as to find ways to collect €70 million. According to the report, OHO-SEK approved the preliminary agreement for zero general pay rises in 2010-2011, which means a saving of €69 million.
Elsewhere the newspaper reports that the trade balance deficit in January – March 2011 dropped 1.31%.
Other headlines:
- Favourable loans to SMEs via “JEREMIE”
- Trade deficit down due to lower imports
- “Government’s policy towards the right direction”
- Credit card transactions of €855m
The newspaper “Politis” reports that according to an internal document, 154 Cyta employees shared the sum of €3 million in overtimes and benefits in 2010. According to the report, some of them, whose salaries exceed €60 thousand per annum, received the additional sum of €40-€50 thousand as overtimes and benefits.
The “Economy” inset of the newspaper refers to the Customs Department and VAT data on the revenues until May. According to them, the revenues recorded an increase of 7.38% in May, while in the first five months of the year they surged 3.68%.
Other headlines:
- Support of the SMEs – Via JEREMIE
- Compromise of $14.5m for Louis – For rescission of purchase of ship
- New sacrifices outside the agenda – Trade unions insist on taxation of wealth
- Industrial area – In Larnaca
The “Economy” inset of newspaper “Simerini” refers to the statements of PASYDY General Secretary, Glafkos Hadjipetrou that the trade union will not accept any reduction of salary. Government Spokesman, Stephanos Stephanou ensured that there are talks on the contribution of the public employees against the crisis, which will reach €35 million this year and €35 million in 2012.
“Simerini” also refers to the return of €3 million to Cypriot businessmen from Libya.
Other headlines:
- Loans of up to €100,000 to businesses – Jeremie initiative boosts SMEs
- New austerity measures the reply to the report of Troika
- CSE slightly up
The “Economy” inset of newspaper “Haravgi” reports that the government recommended to the trade unions the escalating contribution and not the freezing of the salaries in order to cover the contribution of the public employees of €70 million for two years.
The newspaper also refers to Cystat’s data on the imports and exports in April.
Other headlines:
- AKEL: Measures towards the right direction
- Savings of €8m from non filling in of vacancies
- Balance to the economy of the market and the real
- Payment of €3m to businessmen from Libya
The “Economy” inset of newspaper “Alithia” refers to the possible increase in the euro interest rate. According to the report, ECB President, Jean Claude Trichet gave a signal for a new increase in interest rates from July, after the meeting of the Board of Directors of the bank.
Elsewhere the newspaper reports that the agreements under Jeremie initiative provide for loans of up to €70 million with exceptionally favourable terms for the support of the SMEs in Cyprus.
Other headlines:
- Payments for Libya’s debts
- Small gains
- Increase in revenuers from VAT – Customs Dept
- PASYDY reacts strongly to salaries and pensions
The “Economy” inset of newspaper “Phileleftheros” refers to the meeting that President Christofias will have next week with the trade unions of the public, semi-governmental and local authorities employees so as to find ways to collect €70 million. According to the report, OHO-SEK approved the preliminary agreement for zero general pay rises in 2010-2011, which means a saving of €69 million.
Elsewhere the newspaper reports that the trade balance deficit in January – March 2011 dropped 1.31%.
Other headlines:
- Favourable loans to SMEs via “JEREMIE”
- Trade deficit down due to lower imports
- “Government’s policy towards the right direction”
- Credit card transactions of €855m
The newspaper “Politis” reports that according to an internal document, 154 Cyta employees shared the sum of €3 million in overtimes and benefits in 2010. According to the report, some of them, whose salaries exceed €60 thousand per annum, received the additional sum of €40-€50 thousand as overtimes and benefits.
The “Economy” inset of the newspaper refers to the Customs Department and VAT data on the revenues until May. According to them, the revenues recorded an increase of 7.38% in May, while in the first five months of the year they surged 3.68%.
Other headlines:
- Support of the SMEs – Via JEREMIE
- Compromise of $14.5m for Louis – For rescission of purchase of ship
- New sacrifices outside the agenda – Trade unions insist on taxation of wealth
- Industrial area – In Larnaca
The “Economy” inset of newspaper “Simerini” refers to the statements of PASYDY General Secretary, Glafkos Hadjipetrou that the trade union will not accept any reduction of salary. Government Spokesman, Stephanos Stephanou ensured that there are talks on the contribution of the public employees against the crisis, which will reach €35 million this year and €35 million in 2012.
“Simerini” also refers to the return of €3 million to Cypriot businessmen from Libya.
Other headlines:
- Loans of up to €100,000 to businesses – Jeremie initiative boosts SMEs
- New austerity measures the reply to the report of Troika
- CSE slightly up
The “Economy” inset of newspaper “Haravgi” reports that the government recommended to the trade unions the escalating contribution and not the freezing of the salaries in order to cover the contribution of the public employees of €70 million for two years.
The newspaper also refers to Cystat’s data on the imports and exports in April.
Other headlines:
- AKEL: Measures towards the right direction
- Savings of €8m from non filling in of vacancies
- Balance to the economy of the market and the real
- Payment of €3m to businessmen from Libya
The “Economy” inset of newspaper “Alithia” refers to the possible increase in the euro interest rate. According to the report, ECB President, Jean Claude Trichet gave a signal for a new increase in interest rates from July, after the meeting of the Board of Directors of the bank.
Elsewhere the newspaper reports that the agreements under Jeremie initiative provide for loans of up to €70 million with exceptionally favourable terms for the support of the SMEs in Cyprus.
Other headlines:
- Payments for Libya’s debts
- Small gains
- Increase in revenuers from VAT – Customs Dept
- PASYDY reacts strongly to salaries and pensions
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