Michele's Feed
Nov 23, 2014

Over 800 seaborne migrants saved in Italy, northern Cyprus

ROME/NICOSIA, Nov 23 (Reuters) – Italy’s coastguard said it
has rescued more than 600 migrants in the Mediterranean Sea
between Sicily and North Africa this weekend and started a
search for one man feared drowned during the passage.

Further east, 270 Syrian refugees were rescued off
Turkish-Cypriot controlled northern Cyprus overnight when their
ship’s engine broke down, the Kibris Postasi website in Nicosia
reported.

Nov 18, 2014
via FaithWorld

Cyprus’s Greek and Turkish foes unite to save ancient religious site

Photo

(A general view of the Apostolos Andreas Monastery is seen as it undergoes renovation in Cyprus, November 11, 2014. REUTERS/Andreas Manolis)

On a remote outcrop in divided Cyprus, Greeks and Turks have put aside decades of enmity to restore their shared cultural heritage, battered by war and neglect.

Nov 12, 2014

Cypriot foes unite to save ancient religious site

APOSTOLOS ANDREAS Cyprus (Reuters) – On a remote outcrop in divided Cyprus, Greeks and Turks have put aside decades of enmity to restore their shared cultural heritage, battered by war and neglect.

Every day for the next 16 months, Greek and Turkish Cypriots will be working on the Apostolos Andreas monastery, an imposing two-storey sandstone structure dedicated to St Andrew and built atop jutting rocks at the pinnacle of a needle-shaped peninsula.

Nov 4, 2014

Cyprus hopes to re-establish aid after foreclosures hiccup

NICOSIA, Nov 4 (Reuters) – Cyprus said on Tuesday it hopes
to reestablish a flow of aid from international lenders after
some issues were resolved in a disputed foreclosures bill that
lenders demanded for funds to be released.

The European Union and International Monetary Fund withheld
about 435 million euros in a new tranche of aid amid legal
challenges to the bill allowing mortgage lenders to quickly
repossess properties in default.

Oct 26, 2014

Bank test results show bailed-out Cyprus turning around -officials

NICOSIA, Oct 26 (Reuters) – European stress tests have shown
a marked improvement in the fortunes of Cyprus’s banks, Cypriot
officials said on Sunday, barely 18 months after the island was
bailed out following a financial sector collapse.

Some 25 European banks failed a “stress test” of their
capital strength conducted by European authorities and intended
to assess their ability to withstand three more years of crisis.

Oct 20, 2014

Cyprus says Turkish vessel encroaching on its offshore gas areas

NICOSIA, Oct 20 (Reuters) – Cyprus said on Monday a Turkish
research vessel had encroached on an area off its southern coast
where it is searching for gas, and it was preparing
counter-measures in an escalating row over rights to
hydrocarbons in the eastern Mediterranean.

Cyprus, a member of the European Union, has become
particularly keen to develop offshore gas reserves as a
potential source of revenue since it was compelled to seek an
international financial bailout in early 2013.

Sep 27, 2014

British fighter jets fly over Iraq, ready to strike: ministry

RAF Akrotiri Cyprus (Reuters) – Two British fighter jets flew over Iraq on Saturday, their first mission since parliament authorized strikes against Islamic State militants there, Britain’s Ministry of Defence said.

Two Tornado jets left the British Royal Air Force’s Akrotiri base in Cyprus at 3.25 a.m. EDT and returned more than seven hours later, a Reuters witness said. It was not immediately clear if they had carried out any strikes.

Sep 3, 2014

Ryanair, Aegean submit non-binding proposals for Cyprus Air

NICOSIA, Sept 3 (Reuters) – Ryanair, Europe’s
largest budget airline, and Greece’s Aegean were among
companies that submitted non-binding proposals for the
acquisition of Cyprus Airways, Cyprus’s transport
minister told Reuters on Wednesday.

Marios Demetriades said “more than half” of the 15 parties
that earlier made an initial expression of interest and signed a
non-disclosure agreement had submitted non-binding business
proposals by the time the deadline expired on Wednesday evening.

Aug 28, 2014

Bank of Cyprus shareholders approve 1 billion euro share issue

NICOSIA, Aug 28 (Reuters) – Shareholders who became the Bank
of Cyprus’s reluctant owners when it seized their
deposits last year approved plans for a 1 billion euro ($1.3
billion) share issue, designed to bolster it ahead of the
announcement of which EU banks need more capital to withstand
future crises.

The European Bank for Reconstruction and Development (EBRD),
partly owned by the European Union, and investors represented by
U.S.- based billionaire Wilbur Ross, were among those signing up
for the issue pricing Bank of Cyprus shares at 0.24 euros apiece
which will dilute the original shareholders.

Jul 29, 2014

Bank of Cyprus aims for bond sale after raising 1 bln euros in new capital

LONDON/NICOSIA, July 29 (Reuters) – Bank of Cyprus,
which has just raised 1 billion euros ($1.3 billion) from
investors, plans to sell up to 1 billion euros in bonds in
September, chief executive John Hourican said, a move that would
mark a rehabilitation of the euro zone’s first bank to
recapitalise using depositors’ cash.

The island’s largest bank, which was on the brink of
collapse when Cyprus took a international bailout in 2013, said
late on Monday that big name investors including U.S.
billionaire Wilbur Ross and the European Bank for Reconstruction
and Development had agreed to invest 1 billion euro in equity.