Major issues of today’s financial press are the implications in the economy of Cyprus in case USA attacks Iraq, the decline in loans and deposits and the rejection of a natural gas transfer in Cyprus with an underwater pipe.
The “Economy” inset of newspaper “Phileleftheros” under the title “Decline in loans and deposits” mentions that this occurs due to a number of factors that make consumers particularly cautious. The report also mentions that there has been an increase in “plastic money” and it adds that according to officials this is due to the slow down of growth rate , the worldwide uncertainty, the decline in business activities and the expectant attitude of individuals and professionals as far as political developments are concerned. Then, the newspaper highlights that all the aforementioned facts along with the product overcharging result in loan and bank deposits decline.
During the first six months of 2002 and according to Central Bank data, bank loans in households and other economic sectors decreased to CYP 309.6 million compared to CYP 526.1 million during the first six months of 2001. The reduction reached 41%.
Elsewhere, the newspaper supports that USA and Russia long for a new petrol state.
The “Economy-Stock Exchange” inset of newspaper “Simerini” under the title “Economy: it will be at risk” refers to the implications in case USA attacks Iraq. Specifically, it highlights that Cyprus will have to face a major problem, as petrol supplies are at this moment insufficient. The Cyprus Electricity Authority has sixty-day supply of crude oil, while, petrol supplies in the refinery and other petrol companies may last 15-25 days. The report also mentions that there is a great demand of fuel worldwide, however in terms of fuel sales most countries are fairly cautious.
Elsewhere, the newspaper quotes the announcement of the Pancyprian Association of Securities Investors and its sharp criticisms against CSE president.
The “Economic” inset of newspaper “Alithia” under the title “Natural gas pipe rejected” refers to the rejection of a natural gas pipe transfer in Cyprus with underwater pipe. According to the report, this solution has been mostly rejected due to reasons related to a safety of pipe transfer. The Cyprus Electricity Authority –which has planned to introduce natural gas in 2006 - has decided to cover its needs using diesel. This act will hasten the procedures for storage installation in the area of Vasilikos.
Elsewhere, the newspaper highlights that 12 insurance companies pay the fine implemented by the Competition Protection Committee.
The “Economy” inset of newspaper “Phileleftheros” under the title “Decline in loans and deposits” mentions that this occurs due to a number of factors that make consumers particularly cautious. The report also mentions that there has been an increase in “plastic money” and it adds that according to officials this is due to the slow down of growth rate , the worldwide uncertainty, the decline in business activities and the expectant attitude of individuals and professionals as far as political developments are concerned. Then, the newspaper highlights that all the aforementioned facts along with the product overcharging result in loan and bank deposits decline.
During the first six months of 2002 and according to Central Bank data, bank loans in households and other economic sectors decreased to CYP 309.6 million compared to CYP 526.1 million during the first six months of 2001. The reduction reached 41%.
Elsewhere, the newspaper supports that USA and Russia long for a new petrol state.
The “Economy-Stock Exchange” inset of newspaper “Simerini” under the title “Economy: it will be at risk” refers to the implications in case USA attacks Iraq. Specifically, it highlights that Cyprus will have to face a major problem, as petrol supplies are at this moment insufficient. The Cyprus Electricity Authority has sixty-day supply of crude oil, while, petrol supplies in the refinery and other petrol companies may last 15-25 days. The report also mentions that there is a great demand of fuel worldwide, however in terms of fuel sales most countries are fairly cautious.
Elsewhere, the newspaper quotes the announcement of the Pancyprian Association of Securities Investors and its sharp criticisms against CSE president.
The “Economic” inset of newspaper “Alithia” under the title “Natural gas pipe rejected” refers to the rejection of a natural gas pipe transfer in Cyprus with underwater pipe. According to the report, this solution has been mostly rejected due to reasons related to a safety of pipe transfer. The Cyprus Electricity Authority –which has planned to introduce natural gas in 2006 - has decided to cover its needs using diesel. This act will hasten the procedures for storage installation in the area of Vasilikos.
Elsewhere, the newspaper highlights that 12 insurance companies pay the fine implemented by the Competition Protection Committee.
3287.99
1275.09
