Daily Press Review - 14/6/2019

Candidate names for Hellenic Bank’s board of directors

Just 40 days prior to the annual general meeting of HB’s stakeholders, where they will elect the new members of BoD, the backstage activities of HB’s biggest shareholders increase, without, however, having any concrete information thus far. According to Stockwatch’s sources, names have already started being mentioned as it seems they are very keen in participating in HB’s BoD. Demetra Investments, who have recently greatly increased their participation in HB, appear to have submitted four candidates, who according to Stockwatch, have confirmed their interest in claiming an executive seat for HB; this includes Mike Spanos, Phidias Pylides, Marios Maratheutis and a European executive member. Poppy Sarl, which is connected to American investment fund Pimco, intends to suggest Christopher Kraus as a candidate. Information revealed that Wargaming, will suggest the re-election of Marianna Pantelidou and Christodoulos Hadjistavri. It is noted that, Pantelidou and Hadjistavri are members of HB BoD independently, despite the fact that they are executive employees of Wargaming. Rumoured and not refuted by Third Point, they have intentions to gradually withdraw from their investments in HB.

 

The five most expensive real estate acquired by mortgages

Banks have dozens of investments and other real estate of large value in their possession, which they acquired through mortgages in order to reduce their number of high non-performing loans (NPLs). In fact, during these last few quarters, as data of the Central Bank of Cyprus (CBC) show, financial institutions have acquired a significant amount of real estate which they gradually put up for sale through their websites or through partner-companies. Brief, collected the 5 most expensive real estate put up for sale through their websites and these are presented in this article. According to their search, HB has the most expensive real estate of all (its value surpasses €19m), and they are trying to sell it through APS, while Altamira has real estate of which prices exceed €3m by a lot. Specifically, HB will attempt to sell a total 83 large-scale fields, and as reported they will be sold as a single unit.

 

Social Insurance Fund – Management of the EUR 7.6 billion reserve

The article reports on the meeting of the Parliamentary Committee on Institutions, Securities and Administration Commissioner, on 12 June, 2019, on the Social Insurance Fund reserve, and specifically, how the fund reserve of EUR 7.6 billion is managed. During the meeting the trade unions expressed the view that the Committee on Fund Management, at the Department of Social Insurance Services of the Ministry of Labour, Welfare and Social Insurance does not update the government on the status of the Fund’s management during the recent years. The Deputy Secretary General of PEO and ex Minister of Labor, Sotiroula Charalambous warned that the changes in society and in particular the high percentage of long-term unemployed requires the immediate improvement of the social insurance fund management framework.

 

Electronic Auctions in January

According to the article, 1000 properties will be available for sale through the online platform ACB auctions, from all financial institutions in Cyprus. All main banks will participate on the platform.  Online auctions will begin from next January or February, after posting of all properties in September. According to Brief's information Newsphone Hellas S.A. who will manage the platform has undertaken the setting up of the platform in Greece. The ACB auctions were created with main shareholders the Association of Cyprus Banks.  This will involve all banks except RCB Bank, Ancoria, Eurobank, and Société Générale. The platform will operate under the direction of the Minister of Finance that will regulate legal issues concerning, inter alia, uploading and accessing data for electronics auctions. Already, the ministry is preparing intensely on issues relating to procedures, technical specifications, the safeguarding of personal data of borrowers and buyers, etc.

 

Another Cabinet decision in favor of a private company

The author reports on the decision of the Cabinet on June 20, 2018 to grant territory of the Republic to a company that has already have been given a state property in Germasogeia, to create a private yacht marina. In particular, the Cabinet decided to declare a part of the territory of the Republic in the Community of Softas Larnaca, as a berth and service of yachts, at the request of the company, which is involved in the exchange of state land in Germasogeia. According to the decision published in the Official Gazette of the Republic of Cyprus, the Cabinet decided to approve the concession to this company by signing a Long Term Permit Agreement for the use of the part of the maritime area in which a land area will be created, as well as the a whole area that will be declared as a berth.

 

French foreign Minister rejects media claims on deployment in Cyprus

The author reports that France does not foresee deployment in Cyprus, according to the French foreign minister. Attending a joint press conference with his Turkish counterpart Mevlüt Çavuşoğlu in Ankara, French Foreign Minister Jean-Yves Le Drian rejected allegations voiced by the Greek Cypriot media earlier this week that France will establish a permanent base on the island of Cyprus. "We certainly do not foresee French deployment in Cyprus. The Greek press is mistaken” he said. The truth is that there has never been such an issue, but the Paris-Nicosia agreement concerns the use of the "Evangelos Florakis" Naval Base by French fleet vessels. Indeed, because the base port specifications did not meet the needs of French ships, there is ongoing work to expand and deepen, but also to modernize the infrastructures. The base is not granted to France, and its commander will be an officer of the Cyprus Naval Command.

 

Pelagia noctiluca jellyfish on the eastern coast of Cyprus

The presence of Pelagia noctiluca jellyfish on the eastern coast of Cyprus has been announced by the Department of Fisheries and Marine Research, with the aim of informing and ensuring the protection of the public and in particular of the bathers. The Department calls on the public to be especially careful and to avoid swimming in areas where this phenomenon is observed and stresses that this species poses a risk to humans.



Annita Demetriadou attending the Vice-Presidency of the European Union Federation of Rural Tourism

Cypriot Agrotourism Company as full member of the European Federation of Tourism Countryside (Eurogites) participated in the Annual General Assembly of the Federation with President Mrs. Annita Dimitriadou and Vice-President Ms. Monika Latiris.  The assembly took place in Spain on the outskirts of Barcelona in the Penedes region on May 31, 2019.  The event was preceded by a training program visits to agrotourism accommodation with special emphasis on accommodation that was distinguished for its sustainable operation and management, followed by a visit to a winery which uses environmentally friendly and sustainable practices for the cultivation of vines and wine production.

 

These are the specialized doctors

Politis publishes a list of 514 specialists doctors signed up in GHS as of yesterday.  They come from both the public and the private sector, although a significant majority is derived from the public health sector. The Health Minister Constantinos Ioannou stated that “this existing issue was expected, but will be dealt with quickly”. He expects an increase of registrations by specialized doctors in July, “because the first payments to doctors will be made by then, and also there will be increased pressure from the beneficiaries towards doctors to join”, said the Minister. Politis published the entire list of specialized doctors already registered in GHS.



Rules of ‘free market’ in GHS

Phileleftheros reports that soon, GPs of the public sector who are registered with the GHS, will receive an additional amount of money, beyond the existing €10 per beneficiary registered in their catalogue. In fact, this sum will increase according to the number of beneficiaries per doctors. OKYPY’s specialized doctors will also receive an increase in their income until September, as discussions are in progress. Meanwhile, rules of the ‘free market’ began to apply in GHS. GPs of the private sector are having their patient catalogues reallocated, because as it seems, Cypriot citizens might be patient in GHS matters, but they are nonetheless demanding and “punish” & abandon those who do not serve them within a reasonable amount time. It’s not by mistake that some doctors who appeared as unavailable, are not available. There are many complaints against some GPs, who are not responding to phone calls, or scheduling appointments after two weeks, and are now being investigated. Lastly, Phileleftheros reported that the first upgrade to the GHS system will be available to health professionals today.

 

Larnaca Hospital similar to Eleftherias square

With all of the delays so far, Larnaca Hospital appears to compete with Eleftherias square, as the contractor took a new extension for the new wing until 15 November. The contractor was given an extension due to delays that were excused because of the heavy rain of the past winter. The contractor was charged €900.000 as punishment for the delay. This recent agreement is the third of its kind, but as reported it will be the last, as Stratis Matheou stated that if the project is not completed by the given deadline, the agreement will be terminated and the completion of the project will be assigned to another contractor.

 

Cooperation for pharmaceuticals

Following the first days of implementation of the GHS, some decisions were taken as corrective measures in order to solve some practical issues and normalise the situation. From the pharmacists’ point of view, they are also looking forward to the system upgrade that is happening today. As Eleni Piera said, president of the Pancyprian Pharmaceutical Association, there are still problems in the GHS computerized system which burdens the pharmacist’s daily life, as it is very time consuming and not user-friendly. Also, there are daily meetings about the daily updating of pharmaceutical catalogues concerning its availability to ensure seamless service.