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Cyprus News Agency: News in English, 07-06-08

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <http://www.cyna.org.cy>


CONTENTS

  • [01] HOUSE - CYPRUS AIRWAYS - LOAN GUARANTEE
  • [02] CYPRUS - UAE - DIPLOMATIC TIES
  • [03] EUROPEAN WINDSURFINC CHAMPIONSHIP

  • [01] HOUSE - CYPRUS AIRWAYS - LOAN GUARANTEE

    Cyprus House of Representatives has approved a bill relating to the ratification of an agreement guaranteeing a multi-million loan Cyprus Airways has secured from a local bank.

    The loan, worth 78 million euro, was given to Cyprus Airways by the Hellenic Bank and the bill approved by the House concerns government guarantees for its payment.

    Thirty two deputies from left-wing AKEL, centre-right Democratic Party, Social Democrats Movement EDEK and the European Party voted for the bill, while 12 deputies voted against it. Enivornmentalist Movements deputy was not present during the vote.

    In March this year the European Commission, at the proposal of Transport Commissioner Jacques Barrot, authorised the restructuring plan proposed by the Republic of Cyprus to restore the viability of Cyprus` national air carrier.

    The restructuring plan, submitted to the Commission in November 2005, included a loan worth CYP 55 million (EUR 96 million).

    The plan also provided for ongoing cost cutting necessary to restore the airline`s viability and a capital increase of CYP 14 million (EUR 24 million) involving public and private shareholders.

    [02] CYPRUS - UAE - DIPLOMATIC TIES

    Cyprus Permanent Representative to the UN Ambassador Andreas Mavroyiannis and United Arab Emirates Permanent Representative to the UN Abdulaziz Nasser Al-Shamsi have signed a document for the establishment of diplomatic relations between the two countries.

    UAE Permanent Representative said he was delighted for the speedy implementation of the decision to establish diplomatic ties, taken during a visit by Cyprus Foreign Minister George Lillikas to Abu Dhabi in May 2007.

    The two Ambassadors expressed satisfaction that their countries will enhance bilateral relations and their friendly ties and said they would increase cooperation at all international fora, on the basis of the principles of international law and the UN Charter.

    [03] EUROPEAN WINDSURFINC CHAMPIONSHIP

    The 2007 Windsurfing RS:X European Championship begins in the southern coastal town of Limassol, with the participation of 120 athletes from 27 countries.

    Addressing the opening ceremony on Thursday, Cyprus Yachting Association President Panagiotis Kontides said the event is ``the biggest gathering of Olympic, world champions and elite athletes ever happen in Cyprus.``

    ``We have put a lot of effort and time during the past eighteenth months into this project and I hope and believe we will have a great event to the satisfaction of all of you,`` he said, adding that the weather conditions are almost perfect, with ``a good starting point for a very succesful event.``


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