Daily Press Review - 29/11/2019

In the press today:

 Bank of Cyprus: Come to 1bank Hellenic customers

Bank of Cyprus (BoC) invites customers of Hellenic Bank (HB) and foreign banks to connect with its 1bank system, on social media. “Do you have an account at Hellenic Bank or a bank abroad? Connect with 1bank and get updated on your account’s transactions and balances, with absolute security,” it said in the post.

7^th Cyprus Banking Forum

Renowned speakers from the international and local financial services sector will participate in the 7^th Banking Forum, which takes place today at The Landmark hotel in Nicosia. The event, which is supported by IMH and supported among other by HB, aims to present the recent developments in the financial services sector and discuss its future in Cyprus. This year’s forum will be launched by Central Bank Governor Constantinos Herodotou, while it will be addressed by senior executives from the island’s biggest banks: HB CEO Ioannis Matsis, Alpha Bank Cyprus CEO Constantinos Kountenakis, AstroBank Executive Director Marios Savvides, and BoC deputy CEO Christakis Patsalides. There will be a round-table discussion on the current trends in retail banking, as well as the challenges it faces. The panel will be coordinated by Vasilios Vrachimis, Partner and In Charge of Banking at PwC Cyprus, while it will be joined among other by HB’s general manager George Karagiorgis. There will also be a round-table discussion among the IT executives of Cyprus’ banks, including HB’s Charalambos Frantzescos.

How the leaders of today can tame the troubled waters they are faced with

Hellas Direct presents “The Limassol Star Speaker Show” for the first time ever, welcoming well-known personalities from abroad to relay their own experiences in the business and marketing world. “The Limassol Star Speaker Show”, which will take place on 12 December, is a cross-industry conference, which aims to help today’s professionals improve their business skills and current marketing strategies, with the ultimate goal of acquiring the necessary tools for a successful business. It is organised by IMH and its main sponsor is Hellas Direct, while sponsors so far are HB, Parimatch and SoEasy Stores.

Public participates in E2K19

Hellenic Bank in cooperation with ANT1 are presenting the biggest e-sports event ever to take place in Cyprus, E3K19, this Saturday, 30 November and Sunday 1 December. It is a two-day competition for gaming lovers. Public stores will also be present, sponsoring the PS4 Arena where Cyprus’ first ever FIFA20 tournament will take place with 150 players and prizes of over €1,000.

Central Bank waiting on Frankfurt

The European Central Bank keeps asking for more and more information, as well as a specific legal framework, as regards the complaints mechanism that was submitted by the Central Bank of Cyprus for cooperative borrowers. CBC Governor Herodotou was asked by MPs yesterday why the mechanism was not ready in October, as he had promised. He explained that that the text for the mechanism had been sent to the ECB and that the first batch of informal comments had been received. He did not go into detail though. He said these were being discussed with the CBC’s legal advisors and will be taken into account when preparing the relevant bill, which has already been sent to the Finance Ministry. Herodotou said the aim was for the final bill to be sent to the ECB for comments before Christmas.

MONEYVAL and passports

CBC Governor Herodotou told MPs yesterday that Cyprus will be among the topics examined by MONEYVAL next week, as part of its 5^th assessment based on the standards and methodology of the interstate Financial Action Task Force. “A huge effort has been made to show the assessors how much work is being done. It goes without saying that any recommendations will be taken into serious account.” When quizzed about the citizenship-by-investment scheme, Herodotou said this was one of the potential threats for the Cyprus economy. He also clarified that the central bank was not in any way involved in the scheme. What the CBC does, he said, is supervise the procedures followed by the banks when assessing potential customers and the transactions that follow, to ensure that the local banking system isn’t being used for money laundering purposes.

Hidden threats for the economy from Brexit

Asked yesterday by MPs how Cyprus would be affected by Brexit, Central Bank Governor Constantinos Herodotou said the CBC had made its own analyses and the sectors that will be affected the most are tourism, real estate and software services exports, though he said the situation is manageable. He said that in his personal view, the impact could be far worse than any of the scenarios. England could launch a huge competition against Europe in its effort to improve its economy, he added, the result of which is difficult to predict. Whatever the case, Herodotou said the island should brace itself for the worst-case scenario in the long run.

Authoritarianism leads to a new strike at the port

The article reports that the authoritative and anti-labor attitude that the private managers of the port of Limassol insist upon, are leading port workers to a strike as their only option for claiming their rights. Speaking of orchestrated actions by employers, the port workers’ trade union SEGDAMELIN-PEO announced a strike beginning this Sunday. This is due to the fact that DP WORLD Limassol has decided that from 1 December it will carry out the work of the port workers using its own staff, ignoring the call of the Ministry of Transport for intensive consultations to resolve this dispute, in contrast to the port workers’ positive response. "Rest assured that port workers will not remain idle when their jobs are being taken away from them," the union says, noting that port workers are paid a daily wage, and when they are not called for work they are paid nothing, so "based on these facts, their claim for the work they have been doing for decades remains unchanged."

Free internet on ships for sailors

The article reports on a new research by Cardiff University that urges shipping companies to provide more amenities for seafarers. Specifically, the report states that they should be provided with internet access and: At least one activity onboard, such as basketball, squash or swimming; At least four activities from table tennis, darts, barbecues, karaoke, bingo, and card and board games; A gym with at least three pieces of equipment; At least two facilities from a sauna, a book and DVD library, satellite TV with cabins and a library of interactive video games; Comfortable mattresses and furnishings within cabins; Shore leave at every opportunity for all ranks; Varied, good quality food. The study, funded by the Institution of Occupational Safety and Health (IOSH), involved over 1,500 seafarers completing a questionnaire and face-to-face interviews with a small group of seafarers, employers, maritime charities and other stakeholders. Lack of internet access, long periods away from friends and family, poor accommodation and food were among the leading causes of concern for those working at sea.

 Coast guard under study

The establishment of a new body of Coast Guard has been decided for two years now, after taking into account the geopolitical developments in the Cyprus exclusive economic zone (EEZ) for the purpose of taking responsibility of the surveillance of EEZ. Two years later that initiative remains on paper with the new Minister of Justice Yiorgos Savvides informing the house that the subject is under study. According to the Minister’s report to the House Finance Committee in the context of his ministry’s budget discussion, it is proposed that the Coast Guard will be staffed initially by members serving the port police and will be responsible for dealing with illegal migration, fishing drug trafficking, prevention of organized crime at sea.  A draft bill has been discussed with the relevant authorities and its implementation is under review.

The next steps by Cyprus on East Med's energy chessboard

The 7th Annual Cyprus Energy Symposium which will be held on Thursday, December 5, 2019 at The Landmark Hotel in Nicosia is titled "The next steps by Cyprus on East Med's Energy Chessboard”. As in previous years the President of the Republic of Cyprus, H.E. Mr. Nicos Anastasiades, as well the Ministers of Energy, George Lakkotrypis of Cyprus, Kostis Hatzidakis of Greece and Dr. Yuval Steinitz of Israel, have been invited to participate as keynote speakers in the Symposium. Companies that have obtained exploration licenses in the EEZ of Cyprus, internationally renowned energy professionals, academics as well as other political, economic and business actors from Cyprus, Greece, Israel and other countries will participate in the Symposium and present their latest projects. Through focused presentations company representatives from the Cyprus Hydrocarbons Company, the Cyprus Energy Regulatory Authority (CERA) and the Natural Gas Public Company (DEFA) will elaborate on issues concerning their fields of work, and in particular their interests in developing further Cyprus’s energy market.

Cyprus Riviera

The Deputy Minister of Tourism, Savvas Perdios submitted his plans to the House Finance Committee for 2020 yesterday, presenting the first budget of the service. Initially, he ensured MPs that Cyprus’ tourism will not be affected by the closure of the Thomas Cook airline. As he mentioned, the market share of the company in the UK stood at 4% and this stake will be covered by other companies. Continuing he underlined that there are many studies carried out on behalf of the Deputy Ministry, which will determine the strategy of the future. As the Deputy Minister said, there is a study on the promotion of the Argaka, Poli Chrysocohous and Pyrgos area. “The area needs to have a specific name, so that it is promoted as a riviera… It is a drawback that the area doesn’t have a name like Paphos, Limassol and Protaras. The area must be promoted in its entirety, from Stoubi, to Kathikas, Inia, Akamas and Pyrgos. Today, each community is promoting its village separately, the Minister said. At the same time, he underlined that within the year, they are expecting the finalisation of a MEEP for tourist development. He also underlined that the budget includes a €40K budget line, which is destined for studies in order to attract investments for medical tourism. Another two studies will be carried out in 2020: for the Paphos marina and the structure of the Deputy Ministry of Tourism. At the same time, the Minister revealed that within the year they will start promoting Cyprus to the US.

Tenders award for buses contracts postponed by MPs

MPs intervened to postpone announcing the award of the six contracts for buses for the period 2020-2030. According to Phileleftheros’ sources, the Tenders Review Authority did not complete its meeting yesterday and will continue today. Depending on how long it takes to take a final decision on the contracts, announcements may be made today and if more time is needed they will be announced on Monday. MP’s concerns about the different pending issues and serious matters that may arise following the Ministry’s decisions, led to negotiations on Wednesday evening and yesterday morning, resulting in the extraordinary call of the House Transport Committee. The extraordinary meeting was decided with the consent of all the members of the Committee and was scheduled to convene today with a different agenda, as it was introduced as the first matter that the Committee should be informed about.

Kato Pyrgos remains without a pharmacist

The rural health centre in Kato Pyrgos still doesn’t have a pharmacist. There are no private pharmacies in the area, and as such, citizens of the area are often left without medicines. Transferring the pharmacist of Paphos General Hospital to the rural health centre a couple times a week doesn’t solve the problem. In some cases, citizens having no other option than to obtain their medicines from the occupied areas. OKYPY is aware of the problem and is trying to find a solution. As a first step they are going to purchase services from a pharmacist. However, the 2020 budget includes a budget line for permanent recruitment in the position.

Budget approved for HIO employees’ insurance

Yesterday, after 5 months of negotiations and objections, the House Health Committee approved the release of a maximum €110,000 budget for the insurance coverage of HIO’s employees. This sum concerns the healthcare insurance of the organisation’s employees for the period between April and December 2019. A relevant letter will be sent to the Health Minister, green lighting the budget’s release.

Moving on with negotiations

HIO and PASIN (Private Hospitals Association) representatives convened for two hours on Wednesday night, without reaching a decision on the inclusion of private hospitals in the GHS’ second phase this coming June. Meanwhile, CyMA (Cyprus Medical Association) also convened with the HIO in the presence of the Health Minister Constantinos Ioannou, but without going into negotiation. All involved parties reiterated their willingness to continue efforts and reach an agreement.

OKYPY is losing money

Every month, the organisation of state health services (OKYPY) is losing several thousand euros because citizens in rural areas didn’t choose GPs of the public sector. As such, the number of beneficiaries registered in GHS’ doctors is not enough to cover even half of the expenses for the operation of local rural health centres. For instance, the health centre’s operation in Salamiou costs around €20,000 per month. However, only 200 beneficiaries have registered in the GPs of the centre, despite of a population of around 2,500. Subsequently, the centre’s earnings paid by the HIO are close to 0. Both the Government and the HIO need to support OKYPY in keeping these centres open. As it comes to the difficulty of staffing these isolated rural health centres with doctors, it’s reported that doctors are receiving a €500 rural benefit, which will be doubled in 2020 and another €650 per month for their on-call services, which will also be doubled in 2020.

GHS has not solved problems in state hospitals

Even if six months have passed since the GHS was implemented, the serious problems of the past still persist, and patients as well as state hospital personnel have to deal with the consequences. The Secretary-General of AKEL, Andros Kyprianou commented on these problems, as he visited the Limassol Hospital yesterday and met with the Management, while he also had the opportunity to talk with members of the medical and nursing staff and certainly listen to the complaints of the citizens. Pointing out that the state hospitals are the main pillar of the GHS and is hugely important that they are supported by the government, so that they are able to play their important role. Andros Kyprianou said that his visit aimed to understand what is happening in practice and not theory. Apart from the general problems that persist today pertain to the doctor’s abandonment of the public sector, the protocols that must be prepared for the creation of the necessary clinics, as he stressed “there are still problems of space, a matter that existed all along, and even if it has been reduced, is still there”. He also referred to the lack of medical staff, especially in the First Aid Department, which is a matter that the hospital’s Management is dealing with.

3,000 new cancer cases diagnosed every year in Cyprus

The Minister of Health, Constantinos Ioannou said that 3,000 new cancer cases are diagnosed every year in Cyprus, stressing that the increasing trend of new types of cancer, is taking on a worrying dimension at a global level and remains one of the main causes of disease and mortality with over 8 million deaths every year around the world. In a welcome address at the scientific seminar for proton therapy organised by the association Costas Paellinas, Mr Ioannou said that this will help raise awareness on the proton therapy method in the scientific community as well as the wider public. He also talked about the advantages of establishing such a unit in our country, especially for cancer patients. The Minister reported that the increasing trend of cancer cases recorded in the part years in Cyprus and the serious consequences are obvious and not only affect cancer patients themselves but also their families and society. The disease burdens the GHS and the country’s economy and as such the Ministry of Health has classified cancer as a major Public Health issue.

The main causes of deaths on the island

On Thursday, the European Commission published reports which depict the profile of health systems in 30 countries. Country Health Profiles are being issued with the Companion Report that shows some of the biggest trends in the transformation of the healthcare systems and draws key conclusions from the Profiles. The main causes of death in Cyprus are ischemic cardiopathy, stroke and diabetes, having the highest mortality rate due to diabetes in the EU. However, since 2004 the mortality rate due to ischemic cardiopathy was reduced by 31%, stroke by 31% and diabetes by 36%. The increased deaths due to lung cancer reflect the consequences of high rates of smoking, while mortality rates due to dementia have increased due to changes in diagnostic practices as well as aging of the population. Smoking remains a significant problem for public health, especially for men. The consumption of tobacco remains a significant source of concern for public health in Cyprus. In 2004, 26% of adults in Cyprus stated that they smoked on a daily basis, which is higher than the EU average (19%). This high percentage is mostly due to the high rates of smoking among men, of which 38% stated that they smoked daily compared to 14% of women. This percentage has stayed relatively stable for both genders, at least since 2008. Despite the implementation of smoking control policies, these policies are relatively weak and their implementation is inadequate. In Cyprus, more than 1 in 4 adults smoke on a daily basis and this rate is among the higher in the EU.

Sir Richard Doll: The epidemiologist who found an association between smoking and lung cancer

This is a feature about Sir Richard Doll, the world’s most distinguished medical epidemiologist. His reputation was established following the ground-breaking finding that smoking causes lung cancer. During the early stages into his smoking research, he found that smokers had higher chances of developing lung cancer than non-smokers, as well as that the amount of cigarettes also played a key role. A later study managed to identify the association between smoking and lung cancer, shocking the medical community encouraging other researchers to focus on this topic. Richard Doll’s active and intense action against smoking strengthened anti-smoking movements to a large extent.