Daily Press Review - 11/11/2019

Hellenic: Free transfer up to €1000, through Web Banking and Mobile App

Through Hellenic Bank’s Web Banking and Mobile App its clients can save both time and money, as they can carry out free transfers up to €1000, to other banks in Cyprus and Europe (SEPA). This will be more convenient for a number of Hellenic Bank clients who can now quickly carry out transactions without any additional charges. This development is especially helpful to clients who often transfer money abroad, for example parents of university students. Clients who would like to benefit from this service will have to use the bank’s digital channels, web banking which allows for easy access to the clients’ account, transfer money with security and without problems, check their balances and transactions. The mobile banking app is an even simpler and smarter version which allows clients to easily and safely access their accounts and services from anywhere anytime.



Employee salary systems

Opinion article by Andreas Antoniou who discusses how salary systems should operate in serious businesses and what mistakes they should avoid. He argues that the discussion on salary systems, usually focuses on the distinction between excellent and non-excellent employees. He argues that this is a theory that sounds right and of course, it has its fans and supporters. There are many ways to adopt this theory and promote fairness. Many authors have dealt with this matter, in an effort to support the huge campaign launched by Hellenic Bank to promote its opinions. Unfortunately, these articles focused on the banks and no other sectors like the public sector etc. The author goes on to say that he will not talk about the illegal actions by Hellenic Bank, but merely express his opinion on how a good and fair salary evaluation system must operate in a serious business. He argues that granting raises based on their evaluations and performance must be contained by specific processes, which ensure transparency and meritocracy. In this way – by for example, having a maximum amount – businesses can avoid the mistakes of the past. In fact he argues that in the past, big bonuses led to the collapse of the banking system.



The toques d’or are coming to Cyprus

The Toques d’or, an award institution established by the magazine “Athinorama” which contributed to Greece’s gastronomic upgrade, is coming to Cyprus to evaluate, promote and award Cyprus’ best restaurants. The institution aims to establish the awards annually, aiming to contribute to the development and promotion of Cyprus as a gastronomic destination, attracting visitors and generating considerable income. Hellenic Bank will present the awards which will be hosted by “Phileleftheros” group and “Athinorama”.



Banks’ evaluation systems

An opinion article by Costas Christou, who considers it useful to refer to the banks’ evaluation system, according to which any change will be up for discussion between the two parties (ETYK and Bank), in the context of renewing the collective agreement. The system that Hellenic Bank wants to implement will allow the bank to favour whoever it wants, whenever and however works best for the bank.

 

Economy’s development is not standing on stable ground

A scathing opinion article about Harris Georgiades, who following the probe into Co-op’s collapse said that he’d resign but still remains at his office. The author argues that he is degrading the institutions and every good administration. According to the author, the FinMin apparently “forgot” to mention the annual interest that citizens have to pay for the €23b public debt, in order to save private banks which total to €1.2b. He also forgot the €750m bond with 3.50% interest, which expires on 16/12/2019 which was granted by the “excellent” Government to Hellenic Bank as a gift alongside Co-op’s good profile. The author continues that nobody said a word about the €2.4b state guarantee that the state generously granted to Hellenic Bank with Co-op’s performing loans. Nowhere in the world has a government every guaranteed any damages for a private company.

 

3,934 bankers left through schemes

Employment at banks is high risk because employees may not reach retirement. The financial crisis in 2013 and the collapse of two large banks, Laiki and then Co-op, combined with the drastic changes in the banking system have changed the situation for thousands bank employees. Following the two banks collapse and the need to promote voluntary exit schemes, the digital reform reopens the exit door for hundreds of bank employees. 3,937 employees have left the banking sector since 2013 through these schemes. The BoC has implemented 4 different voluntary exit schemes, following the financial crisis in 2013 and the absorption of ex-Laiki’s staff. To date, a total 2,428 employees left BoC through its exit schemes since 2013. In 2017, Hellenic Bank also implemented a voluntary exit scheme with an average compensation €191,000, and 220 employees left through this scheme.



The cost of old and new apartments

The article reports that one-bedroom apartments are at risk of extinction in Nicosia and the surrounding areas, as the owners gave them to the banks to write off their debt. According to the survey, the stock of small apartments, that are up for sale on websites of credit management companies, is starting to run out and many aren’t offered for debt exchange. The article lists in detail APS’ portfolio which includes real estate of Hellenic Bank.



The reward system for bank employees

In an opinion article by Dr. George Theocharides, he writes about the recent battle we’ve all witnessed between large banking institutions (BoC and Hellenic Bank) and the association of bank employees (ETYK). There were many reasons behind this development, but one key reason was the banks’ attempt at implementing a reward system for their employees based on their capacity. Concluding, the author states that ETYK should welcome the proposed reform to the reward system (which was introduced by Hellenic Bank but most probably BoC will soon follow) as it is a system which will serve the benefits of its members. It’s a change, of course, from the established practice, but the world is not static; it’s constantly evolving and organisations ought to adapt quickly to changes in order to survive and prosper.

 

A story of infinite corruption

Following the recent revelations of Cyprus’ “golden passports”, the author writes about the huge problem of corruption in both Cyprus and Greece. He argues that everybody who was involved in the recent “golden passports” case knew all the facts, regardless of what they now claim. The author argues that there is no other reason why a “businessperson” from Malaysia, Russia, Ukraine or any other problematic country would want a Cypriot citizenship. He later acknowledges the efforts being made to stop corruption in Greece. In Cyprus, he applauds his colleagues who were involved in this incredible revelation and he stated that journalists have a duty to report everything they know, no matter how scared they may be for the consequences of exposing these secrets. He asks his colleagues not to be selective when it comes to reporting about corruption, as corruption influences many fields. There’s government corruption, politicians’ corruption as well as corruption by financial stakeholders. There are many “bad apples” among banks, who are trying to be completely legal and in fact, executives of BoC and Hellenic Bank made a good effort to highlight the legality of Cypriot banks, admitting the mistakes made during the period prior to the haircut in 2013.



BoC speeds up Helix 2

Tomorrow, BoC is moving forward with Helix 2, the second project of loan sales. Tomorrow a total €1.4b NPLs will be sold. The banks are threatened by the failure of the ESTIA scheme, as it’s expected to cause a drop in real estate prices, and subsequently the collateral for loans. Therefore, BoC is moving forward with selling its portfolio, before the mass foreclosures and the drop in real estate prices.

 

Anastasiades’ second term was a minefield

Offsite features all the issues that arose during President Nicos Anastasiades’ second term as president. Describing the term as a “minefield”, the site says that within the space of 21 months, the government and its ministers faced a series of serious crises. And they are still facing ongoing problems, which have taken international dimensions; such as the government’s citizenship-by-investment scheme, which has caused a furore and led to 26 citizenships being revoked. Among the serious crises presented by the site was the closure of the Cyprus Co-operative Bank and the acquisition of its “good” operations by Hellenic Bank. Once Anastasiades’ first term had ended, Finance Minister Harris Georgiades had expressed his desire to resign. However, following consultations with the president, he agreed to continue the work he had started a little after the March 2013 banking crisis, which led the economy onto a positive course. But the site says few could have predicted what was to follow. The CCB-HB deal caused heated reactions from the opposition parties, with Georgiades coming under intense scrutiny. He said his resignation was at the president’s disposal. The reactions became even more heated when the findings of the committee of inquiry’s report into the Co-op’s collapse apportioned blame to the minister personally. After being supported by the president personally, Georgiades agreed to remain at his post until the submission of the 2020 annual budget.



Green Party sends plea to the Finance Ministry

Instead of issuing announcements, the political parties should be exerting pressure on the Finance Ministry to immediately issue decrees that will protect vulnerable groups from the banks’ excessive charges, the Green Party said in an announcement. “We are saddened to observe the parties on the one hand vote laws that make the banks omnipotent and dominant, and then on the other issue announcements in which they condemn and threaten the banks over the excessive charges they are imposing on the public,” said the party. “When they had the bills and law proposals in front of them, unfortunately they turned a deaf ear and did not provide substantive solutions to the problem, only to come in hindsight and warn and ‘condemn’ their own actions with announcements.” It added, “When the government and parties (some of which are issuing announcements today) voted in the scandalous concession of the Co-op to Hellenic Bank, which has led to a banking oligopoly and annihilated banking competition thus creating a cartel, were they not aware that they were feeding the banks’ impunity? Now they remember their ‘low-pension grandfather and grandmother’?”



One thing in public and another behind the scenes

Opinion editorial, with the author condemning ruling party DISY for continuing to mock the people, led by the party’s president Averof Neophytou. In its bid to pretend to care about the workers, pensioners and lower classes, the party is even pretending to take on the banks, he says. When the banks were invited to the House Institutions Committee last week to explain themselves over the increases in their charges, DISY pretended to scold them. They think people have forgotten that DISY has long supported the best interests of the banks. Especially in recent years, when they have promoted and voted – along with other parties of course – various laws, which the banks have taken advantage of to triple the charges. Do they think the people have forgotten how Hellenic Bank found itself in its current – dominant – position?



Political front over charges

The banks’ plans to increase charges on bank transactions in order to push people into digital banking has caused serious political reactions. DISY president Averof Neophytou warned last week that the party would not hesitate to make a legislative intervention in order to prevent the fee increases from going ahead, especially for vulnerable population groups and small and medium sized businesses. It is noted that Bank of Cyprus (BoC) informed its customers that as of 13 January, its charges and commissions will be revised. Bank sources tell Phileleftheros, however, that as regards the demand for pensioners to be exempted from the charges, the P2D2 directive strictly forbids any discrimination, even if it is for a positive cause, that is age-based. For this reason, it is not possible to alter the charges for those aged 65 or above. But either way, at BoC, instructions have been given for customers of this age group to not be charged and for their special conditions to be taken into account. The same sources also remind the paper that all transactions are already cheaper or free-of-charge when carried out digitally. Indicatively, at BoC, 75% of transactions are already carried out through mobile phone.



Stories of strength and will

A debate was carried out at the central offices of Bank of Cyprus between students and athletes, as part of the Athena programme by Reaction and Bank of Cyprus. Three athletes presented their own personal stories and explained how through sport, they managed to overcome difficulties, stereotypes, prejudice and achieve their goals.

 

Decentralized 2019: Blockchain technology concerns us all

This year’s Decentralized conference, which is organised each year by the Institute for the Future of the University of Nicosia, was a great success, with the participation of an impressive range of distinguished speakers in the fields of blockchain and cryptocurrency, and over 1,000 participants from around the world. The conference took place in Athens with over 100 speakers from 38 countries, including the so-called “father” of technology, Professor W. Scott Stormetta.



Foreign investments in Cyprus after 2013

Clashes on the matter of naturalisations continue internally, with populists supporting that there is a passports industry and that Cyprus managed to attract investment through the Cyprus Investment Programme, only because investors wanted to acquire Cypriot passports. InBusinessNews outlines some real investments that have taken in place since 2013, responding to the criticism that the website has received with regards to allegedly advertising the Cyprus Investment Programme. One of the companies mentioned in the list is DP World. DP World is managing and operating the multi-purpose terminal in Limassol. DP World’s portfolio is comprised of 77 terminals in 40 countries across 6 continents, with a significant presence in both high growth and mature markets. DP World, which manages and operates the multi-purpose terminal, and Eurogate, which manages and operates the container terminal, have agreed to an investment of €1.9b for the 25-year management period.



Drillship arrives for 6 drilling operations

The “Tungsten Explorer” drillship has arrived in the Eastern Mediterranean ahead of six drilling operations on behalf of the TOTAL-Eni consortium in Cyprus’ Exclusive Economic Zone (EEZ). The operations begin in early 2020, as soon as TOTAL finishes its first drilling in the Lebanese EEZ. The consortium’s programme also includes a drilling in the contested block 7. As Phileleftheros reported last month, TOTAL-Eni signed a contract with the drillship for six successive drilling operations worth a few million euros, around the same time that the Turkish “Yavuz” drillship arrived for illegal explorations in block 7 of the Cyprus EEZ. The consortium’s drilling programme includes a confirmatory drilling in the “Calypso” target in block 6, as well as drilling in blocks 2, 3, 8, 9, but also block 7 which was recently licensed to TOTAL-Eni under the condition that the seismographic, geophysical, environmental and other necessary studies are carried out. The consortium has also signed contracts through tenders for all the subcontractor supporting services, with Cypriot companies having taken on significant operations with Limassol port as their base. Meanwhile, the ExxonMobil-Qatar Petroleum consortium will be carrying out at least two more drillings, as it apparently wants to clarify the technical parameters of the “Glaucus” target in block 10 the soonest possible, so that it can start considering the strategic development and commercialisation of the gas field. Preparations are in advanced stages, as are the scenarios for not just one but two confirmatory drillings at the “Glaucus” target, which according to the most conservative scenarios has double the gas deposits than the “Aphrodite” target.

 

Meeting with OEB

On 1 November 2019, The Cyprus Shipping Chamber welcomed at its offices in Limassol the Chairman and the General Director of the Cyprus employers and industrialists Federation (OEB) where they held a customary meeting. During the meeting, they discussed about the current policy issues and prospects of the Cypriot Shipping industry, highlighting its significant contribution to the Cypriot economy.

 

Shipping is of vital importance

Alithia publishes an interview with Despina Panayiotou Theodosiou, who talked about the current situation of the shipping industry in Cyprus and her re-election as leader of the Women International Shipping & Trading Association – WISTA. She stated that shipping in Cyprus is an industry which significantly contributes to the country’s economy and the Cypriot flag is at the forefront across the globe. According to her, they need to maintain the competitiveness in this industry and boost this entire sector.



The harbour in Kato Paphos left deserted

The harbour of Kato Paphos now appears deserted after a popular business shut down. Locals stated that this specific shutdown was the last business to pull out from the harbour. The desertion of the port has primarily been attributed to the increase of rent in the area.

 

ExxonMobil: Two drillings in the first six months of 2020 in Block 10

ExxonMobil’s Vice-president for exploration and new ventures for Europe, Russia, Caspian, and MENA Don Bagley, who recently spoke at the 15^th Economist Summit in Nicosia on the company’s energy plans and expectations in Block 10 of the Cyprus EEZ, the prospects of the Eastern Mediterranean, and the year of production of natural gas, in his interview with Kathimerini said that the Turkish provocations in the Cyprus EEZ do not affect ExxonMobil’s plans.  In response to a question about the energy prospects from the company’s presence in the Cypriot and Egyptian EEZ, Bagley said that it is going to take several years of exploration before the full East Med gas story is revealed but that ExxonMobil was fortunate for the biggest discovery so far in Cyprus’ EEZ in Glaucus-1 in Block 10, and that what remains is to appraise if it is commercially viable; the time to get commercial quantities in the market could take years. In response to the question when ExxonMobil will start work in the Cyprus EEZ, Bagley explained that the works is ongoing and that the plan is to drill two appraisal wells in the second half of 2020 to determine the full commercial potential of the resource. On the Turkish tensions in the area, we continue to focus on our work program, Bagley said. On the question regarding an LNG  terminal in Cyprus, Bagley said that LNG plants typically require larger resources than what was discovered at Glaucus-1 so far, but other options are being looked at. Gas discovered offshore Cyprus could reach market through a pipeline solution, it could be liquefied and shipped to markets or a combination of the two, however it’s early to say Bagley explained.



We need to take it down a notch over natural gas

Haravgi newspaper interviews natural gas expert Dr Charles Ellinas, who among other is of the position that it will be difficult for Cyprus to export natural gas due to the specifications of the international market, the low prices and the over-production in Egypt. He also calls for plans to be “brought down a notch” when it comes to natural gas, because “even if we could export, the profits would be very low”. He adds that even Turkey doesn’t need the Cypriot natural gas, nor the pipeline transporting NG to the EU. “The international market has turned to liquified natural gas (LNG) and the big firms, such as ExxonMobil, do not consider our reserves as a priority, seeing that we don’t have large discoveries,” he said. Ellinas recommends that the island focuses on renewable energy sources for the time being. “ExxonMobil is definitely interested in LNG. But ExxonMobil along with Eni are currently sitting on reserves of 75 trillion cubic feet in Mozambique, where they are proceeding with a project for LNG. ExxonMobil has already made the decision to invest one billion dollars in this project. It is proceeding with Eni to build an offshore LNG terminal in Mozambique, for exports to Asia. It is proceeding with other projects in Papua New Guinea and Guyana, where there are huge discoveries of petroleum. Two years ago, it acquired other companies with 6.6 billion dollars’ worth of shale gas in N. America. It has options for many projects with huge investments and it will invest in those that have the most returns. The foreign companies are saying one thing: going by international prices at the moment, the turn to renewable energy sources, the pressure from the investors on these companies, they must prioritise the big projects, with easy, cheap production and high profitability. Our reserves are not a priority yet. If a Zohr is discovered, things will change. We need huge discoveries. We found something good at ‘Glaucus’. It would have been a good deposit if we found it 10 years ago. Now the markets have changed. They have become very competitive due to renewable sources.”



Paphos demonstrates resilience  

Many hotels in Paphos are expected to suspend their operations from the start of December until February. As of yesterday however, only two hotels had suspended their operations in Yeroskipou and Paphos. More hotels than ever before remained open in November in Paphos’ western tourist front. However, this picture will start changing following this coming week. Steadily, a total of 68 hotels are expected to suspend their operations. Some of them will close in the start of December, while some others will close from the start of January. Even though October and November occupancies were not high, they are satisfactory given the circumstances. Tourist industry stakeholders support that losses from the collapse of Thomas Cook were limited greatly and the year is expected to close with a positive sign in terms of arrivals. As it comes to revenues, a small drop will be recorded. The conditions of the past year, overturned the plans of certain hotels to expand their facilities.





Five new hotels in Ayia Napa

After the expansion and upgrade of the special policy tourist zone, in the framework of the Ayia Napa policy statement, which was approved by the former Minister of Interior and published in March 2017, five land development firms took advantage of the generous town-planning incentives, submitting town-planning license applications and relevant environmental impact studies for the construction of luxury hotels between the Limnara and Ammos tou Kambouri areas in Ayia Napa. It should be noted that according to the approved policy statement of Ayia Napa 2017, no more applications can be submitted to the Town-planning Authority.



Tourism at the centre of Invest Cyprus’ strategy

The Deputy Ministry of Tourism will collaborate with the Cyprus Investment Promotion Agency (Invest Cyprus) in order to promote Cyprus as an investment destination in the tourism sector. At the same time, with an action plan it has drafted, the Agency actively supports the effort of the government and the Deputy Ministry of Tourism to achieve the goals it has set within the framework of the National Tourism Strategy 2030. An Invest Cyprus delegation, headed by the Chairman of the Agency, Michalis P. Michael participated, in cooperation with the Deputy Ministry of Tourism, in the investment forum “the Mediterranean Resort and Hotel Real Estate Forum” (MR&H 2019), which was held in Athens between 29-31 October 2019.



Theopemptou promotes bill obligating Municipalities to publish their beach plans

The Municipalities will be obligated to publish their beach plans online i.e. their plans relating to the management of their beaches, with a view to prevent the arbitrariness of the past. In fact, the Municipalities often occupy the space that according to the relevant legislation should be left vacant for beachgoers to place their umbrellas and sunbeds. Greens MP, Charalambos Theopemptou will submit relevant amendment to the legislation to the House Internal Affairs Committee today. Mr Thompemptou told Phileleftheros that despite the fact that the legislation stipulates that 50% of the beach should be left vacant for beachgoers, many municipalities are placing sunbeds and umbrellas at a greater percentage of the beach. As such, beachgoers cannot find any space sit. The MP set that if the Municipalities post their beach plans online, everyone will know if new beaches have been added and where they are and in general, there will be better control and any arbitrariness will be prevented. Responding to a relevant question, he said that what usually happens is that some municipalities take up space that is normally destined for beachgoers, who sometimes are left with the choice of sitting in front of the other beachgoers, almost on the sea. A similar practice is often followed by private companies who win the tender to manage the beaches.



Melco: Committed to creating a better future

Melco Resorts & Entertainment, a world leader in the leisure and entertainment sector, which owns and operates Integrated Casino Resorts (ICR) in Asia and Europe, aims to become one of the main drivers of growth in the Cypriot economy and a reliable partner of the local community. Melco, along with its partners, the Cyprus Phassouri (Zakaki) Limited, a member of CNS Group, have successfully obtained a 30-year license agreement to develop and operate City of Dreams Mediterranean, the largest ICR in Europe and the region. City of Dreams is expected to open its doors to the public by the end of 2021 in Limassol, with far-reaching benefits for the country. Nevertheless, the positive impact has already been seen, given that almost a year and a half since the start of its activity in Cyprus, the Company is currently successfully operating, three satellite casinos in Nicosia, Larnaca and Ayia Napa as well as the temporary casino in Limassol, under the brand name Cyprus Casinos “C2”. The last satellite casino will be inaugurated in Paphos very soon. Melco has set ambitious goals and focuses on combining its social and environmental achievements, in order to create high-quality jobs and promote the local culture while being careful as it comes to its environmental impact since it wishes to promote a sustainable future. The article also refers to Melco’s responsible gaming policies and its aspiration to become an employer of choice for local citizens providing career opportunities in the entertainment industry worldwide.



Cypriots betting millions

Thousands of Cypriots are trying their luck, and searching for easy money by gambling at the casino and other games. According to the relevant information, over the last four and a half years, Cypriots gambled away €1.8b and won €1.6b. This concerns both land-based and online gambling. At the same time, over the first quarter of 2019, more than €280m was played at the slot machines of the four Cypriot casinos. According to the results announced by Melco, from July until the end of September €280.4m was played by the casino’s clients, compared to €142.9m in the first quarter of 2018. Despite the increase in betting activity and the large amounts plays at the casino, the operator is implementing programmes against gambling addiction.



Only with an honourable compromise

“The only way that can save our country and create potential for our country’s future is an honourable compromise, as this has been outlined in the agreed terms of reference”, said the Secretary-General of AKEL, Andros Kyprianou. He also called the President of the Republic to work hard, in view of the meeting on the 25th of November, so as to restart a substantive dialogue that will lead to finding a solution within the terms of reference. In a speech at the Anti-Occupation event in Kyrenia, which took place at the end of Ledra Street, Mr Kyprianou said that “we are here today to reconfirm that AKEL, expressing the majority of the Cypriot people, is insisting on continuing to struggle until our country is vindicated”, adding that they will continue to fight for solution and reunification, despite the hazy framework created by the Anastasiades government. He also said that Cyprus is not going to be saved by the towers and the passports, the casinos and the escapades and added that Cyprus will only be saved if it’s reunited. “Cyprus will only have a future, when we manage to reunite it; only when its people are reunited will they be able to build a common future” he added.



The licensed betting companies of Cyprus

The betting sector is one of the most profitable sectors in Cyprus, despite the fact that it had been an essentially unregulated sector in the past years. This gap was covered by the creation of the National Betting Authority along with the change in the legislation, which requires a permit for the conduct of land-based and online betting. The number of companies was reduced, especially in the electronic betting sector. In order to comprehend how much money is being traded within the betting sector, the article reports on the sums recorded in the first semester of 2019. The profits of the players from betting amounted to €320,706,250, while the revenues of companies active in the sector amount to €39,739,184, of which 10% goes to the state in the shape of income tax, i.e. €3,976,107. Over this period, there were 16 companies (10 online – 6 physical betting companies), while 15 companies were active in the second quarter of 2018 (9 online – 6 physical companies). The betting companies are divided in two categories (Class A for companies with a physical presence and Class B for online companies). Each licensed provider of Class A and Class B need to submit to the Republic 10% of its betting profits (betting tax). Each Class A and Class B licensed provider, contributes 3% of its betting profits to the Betting Authority.



First step for cannabis production

Within the next few days, the Ministry of Health is expected to call interested investors to submit their offers for the cultivation and production of medical cannabis. From the day of the official announcement by the Ministry of Health, interested parties will have a little less than three months to submit their applications and then follow the procedures stipulated in the legislation. The whole process is expected to be completed at the end of the first semester of 2020. With its call, the Ministry of Health will renew its intention to license three cultivation and production companies as foreseen in the relevant legislation. The announcement especially focuses on matters of safety, since the cultivation and production of medical cannabis must be done in a way that prevents cannabis from ending up in the illegal market, while there also conditions referring to the experience of the companies in cultivating and producing medical cannabis. There has been unofficial interest by medical cannabis producers who are active in the United States, Canada, Russia and Israel, among others.

 

EMA recommends approval of V920 Ebola Zaire vaccine

The European Medicines Agency (EMA) Committee for Medicinal Products for Human Use (CHMP) has recommended approval of the V920 Ebola Zaire vaccine (Ervebo, Merck ), the first vaccine to protect against the Ebola virus disease caused by Zaire Ebola virus in at-risk adults aged 18 years or older. V920 was initially engineered by scientists from the Public Health Agency of Canada’s National Microbiology Laboratory and subsequently licensed to a subsidiary of NewLink Genetics Corporation. In late 2014, when the Ebola outbreak in western Africa was at its peak, Merck licensed V920 from NewLink Genetics. Since that time, the company has worked closely with a number of external collaborators to enable a broad clinical development program with partial funding from the U.S. government, including the Department of Health and Human Service’s Biomedical Advanced Research Development Authority (BARDA) and the Department of Defense’s Defense Threat Reduction Program (DTRA) and Joint Vaccination Acquisition Program (JVAP), among others.



They booked appointments, but no vaccines were provided

Certain individuals in Limassol reported that they booked an appointment for the flu vaccine, but when they arrived at the hospital, they were informed that their vaccines had not arrived. Chaos ensued yesterday morning at the old Limassol hospital, where hundreds of patients arrived at the hospital after previously book an appointment. After waiting for many hours however, they were informed that the vaccines have not yet arrived in Limassol. With reason, the citizens expressed despair about the situation.



108 doctors chose group practicing

Patients’ rights advocates stated that they’d like to see the expansion of the group-practicing programme of doctors, as it will be to the benefit of the patients. Meanwhile, the HIO’s data shows that since the announcement of the group-practicing project, a total of 55 applications have been submitted. 46 of which, involved 108 GPs (for both adults and children), and each doctor received €15,000 (in total €1.61m) for group practicing. Also, according to data, the HIO rejected 6 applications by 13 doctors, while it asked more information for 3 applications by 6 doctors. Mr. Marios Kouloumas, head of the patients’ rights advocates stated that organised patients would like to see this programme expand, as it is implemented in other health systems with positive results.



New projects for health

Significant infrastructure projects will help upgrade and improve the current state of state hospitals in view of the GHS’ second phase. More specifically, the transformation of Kyperounta Hospital into a pneumonology clinic is in progress, despite being rejected two times in 2016 and 2017 and it will cost €4.4m. The A&E department of the same hospital is also being upgraded and its expansion will cost more than €1m. Other health centres and clinics across Cyprus are on their way to improve for instance, the health centre of Athienou is under construction (which costs €1.8m), while by the end of the year, the new wing at Larnaca General Hospital is also expected to be delivered.



Negotiation over second phase of NHS enters deep end

The HIO has entered the deep end of the second phase of the GHS, as besides the integration of the hospitals into the system, it must also streamline the procedures for the introduction of all other health professionals. Nurses, physiotherapists, speech therapists, occupational therapists, dieticians and psychologists have already entered the negotiation over their compensation for the services they will offer as of 1 June 2020, with the dialogue currently taking place with each occupation separately. The negotiation must wrap the soonest possible, as the HIO must then prepare the Regulations under which the specific professionals will operate in the GHS. In order to finalise the regulations, they must first be put to public consultation, then go through legal vetting, be approved by the Cabinet, be submitted to the House for discussion and then passed by the House Plenum; all before 1 June.

Court vindicates 63 PASYNO state nurses

A Labour Disputes Court ruling in favour of 63 state nurses of the PASYNO union in an appeal against the Health Ministry and Public Administration and Personnel Department has been hailed as extremely important for labour market affairs. The 63 nurses had been hired either as contract nurses, fixed-term nurses or on 15-day successive nursing contracts. In their joint appeal to the court, the nurses said the state refused to turn their contracts into indefinite ones, saying this refusal was not in line with the philosophy and practice of the contract framework and the harmonising law on indefinite contracts. Furthermore, they asked for the return of 10% of their monthly salaries that was cut, as they completed 24 months of service. Thirty of the nurses were hired as fixed-term employees from 2009 until 2011, 16 in 2012 and the remaining 17 in 2013. As for the cuts, the court ruled that the state illegally cut 10% of their salary invoking the law on reducing the annual basic salary during the first two years of service in individuals appointed to the Public Service who are hired on a temporary basis, or on a contract to execute duties in lower positions, as of 1 January 2012.



Specialist doctors without specialty title

The Health Ministry has been in constant contact with the Greek ministry of health over the past few days, trying to exert pressure on the relevant Greek authorities to exempt Greek and Cypriot specialist doctors from a law that was recently approved by the Hellenic Parliament placing restrictions and preconditions on the issuing of specialty titles for the doctors in question. The director of the health minister’s office, Anastasia Anthousi, told Phileleftheros that the minister had raised the issue a while back; but what with the Greek elections and change of government, there has been a delay. She added that efforts were stepped up recently and according to the latest update from Greece, the Greek ministry will soon have answers as to how the specialists working in Cyprus can be exempted from the law.



Turkish-Cypriot Veto  

Intense efforts are currently under way in Brussels in order finally establish halloumi as a PDO, before the new European Committee takes over on 1 December 2019. The application was blocked due to its relation with the Green Line Regulation, for marketing control purposes of products to be produced in the occupied areas. Meanwhile, the Republic of Cyprus is ready to settle to ensure the approval of the file, while the Turkish-Cypriot side doesn’t allow the application to succeed. Something accepted by all sides is the fact that products produced in the occupied areas that comply with legislation, will be allowed to be exported across the world with Veritas certification. However, the problem now is that the majority of livestock farms in the occupied areas don’t meet the phytosanitary standards and so they will not be able to export those products.