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Cyprus News Agency: News in English, 13-04-11

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

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


CONTENTS

  • [01] Council of Ministers approves measures on bail out deal
  • [02] Almost 15,000 families to benefit from Cyprus Aid charity concert
  • [03] Cyprus Airways must continue operations, says government
  • [04] Eurogroup set to conclude agreement on Cyprus bail out
  • [05] Central Bank: Gold selling concerns Central Bank only

  • [01] Council of Ministers approves measures on bail out deal

    The Council of Ministers has approved measures relating to the implementation of a bail out agreement the government has concluded with its international lenders.

    "The measures which concern preparations for the implementation of the loan agreement were approved today by the Cabinet," Government Spokesman Christos Stylianides said.

    He explained that the measures are being processed and those that need to be tabled to the House for approval will be sent to the parliament.

    [02] Almost 15,000 families to benefit from Cyprus Aid charity concert

    A total of 14,622 families all over Cyprus will be benefited through the Cyprus Aid charity concert organized in Nicosia on April 1st.

    At the concert, people offered non perishable goods, medicine and other basic items, which were distributed to individuals, families and other groups.

    According to a press release issued Wednesday by the organisers of the event, the goods were distributed to 29 institutions, organisations, town halls, unions and bishoprics in all towns. Goods were also given to families in need by the governmental social services. Medicines were transferred to the Social Clinic which was set up in Nicosia.

    [03] Cyprus Airways must continue operations, says government

    The government wants to ensure that Cyprus Airways will remain in operation until the end of the summer season, Government Spokesman Christos Stylianides said here today after a meeting of the Cabinet.

    "The objective is to find somebody who will buy the airline as soon as possible, to find a strategic investor," he added.

    He pointed out that all parties involved must accept the urgent and necessary measures that need to be taken to restructure the company, something he described as a "fundamental prerequisite."

    [04] Eurogroup set to conclude agreement on Cyprus bail out

    EU Finance Minister, meeting in Dublin on Friday, are expected to reach a political agreement on a Memorandum of Understanding with Cyprus.

    However, the final decision is anticipated at the end of the month and funds are expected to flow in the first two weeks in May, according to a Eurozone official.

    Cyprus will be one of the main topics of discussion in Dublin and the only one on which the Finance Ministers will reach agreement.

    [05] Central Bank: Gold selling concerns Central Bank only

    The Central Bank of Cyprus has made it clear that any selling of its gold reserves concerns the Bank and nobody else.

    "The sale of gold held by the Central Bank is a matter that concerns exclusively the Board of Directors of the Bank," Aliki Stylianou told CNA tonight, invited to comment on a Reuters report saying Cyprus has agreed to sell excess gold reserves to raise around 400 million euros and help finance part of its bailout.

    The report quoted a draft assessment report of Cypriot financing needs prepared by the European Commission.


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