Cyprus News Agency: News in English, 12-04-11

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From: The Cyprus News Agency at <http://www.cyna.org.cy>

CONTENTS

[01] President: Eroglu seeks termination of UN talks

[02] Commerce Minister: Cyprus can supply Europe with natural gas

[03] Pissarides: Investments needed to revive Cyprus economy

[04] Production in construction decreases in 4th quarter of 2011

[01] President: Eroglu seeks termination of UN talks

Reiterating that the Greek Cypriot side is ready to continue the negotiations in parallel with the assumption of the EU rotating presidency by Cyprus on July 1, the President expressed hope that the talks could be fruitful.

In statements to the press following visits to military camps in view of the Easter holidays and replying to a question concerning the Greek Cypriot side`s readiness to continue the UN talks during the Cypriot EU presidency, President Christofias said ``we are more than ready to continue the dialogue during the Presidency,`` adding that he conveyed this to the UN Secretary General.

President Christofias` remarks came as a response to the Turkish side`s repeated statements that the UN-backed talks, which began in September 2008, should be terminated after the assumption of the EU rotating presidency by the Republic of Cyprus on July 1.

``Nothing could obstruct the continuation of the dialogue,`` the President said, adding that the other side and Eroglu want to terminate the dialogue and are drafting ``plan Bs.``

``The UN and the UN Secretary General, the EU and the international community should turn their attention towards them,`` he went on to say, adding that the talks could become fruitful and productive if the Turkish side eases its hard and provocative stance.

Addressing a gathering of officers and soldiers, President Christofias stressed that the Greek Cypriot side strives for a compromising but at the same time a dignified and functional solution to the Cyprus problem, due to what he called the ``Turkisation`` of Cyprus taking place due to the lack of solution to the Cyprus problem and the creation of new fait accompli by the occupying power, Turkey. ``We, as opposed to the false and distorting statements of Mr. Eroglu, are in a hurry for a solution to the Cyprus problem,`` he said.

He also spoke of intransigence and cynicism on behalf of Turkey, noting that the Greek Cypriot side seeks a dignified solution to the Cyprus problem, which would safeguard the independence, territorial integrity and sovereignty of a united, federal Republic of Cyprus following a settlement.

The President also noted that the solution should be based on principles ``as we cannot bow down and grant any rights to the occupying power just for the sake of a solution.``

The solution should safeguard a single citizenship, should entail the solution of the illegal settlement which leads the Turkish Cypriots to the assimilation by the Turkish settlers and the annulment of their identity.

Cyprus has been divided since 1974, when Turkey invaded and occupied 37 percent of its territory.

[02] Commerce Minister: Cyprus can supply Europe with natural gas

"The finding of natural gas resources in Cyprus' Exclusive Economic Zones creates the prospect of shaping a new route of supplying Europe with energy," Sylikiotis said, speaking after a meeting with opposition Democratic Rally leader Nicos Anastasiades.

In addition, Sylikiotis stressed that the finding of natural gas resources creates hopes for the people and the country of Cyprus. He pointed out that the political leadership of Cyprus, through collective efforts, should turn these hopes into a specific outcome.

Sylikiotis briefed Anastasiades on the latest developments in issues related with energy. Specifically, he briefed him on the developments regarding natural gas, the discussion that is taking place with Noble Energy, the efforts to bring natural gas to the island the soonest possible in order to reduce the cost of producing electricity, and the second licensing round.

[03] Pissarides: Investments needed to revive Cyprus economy

In an interview with CNA, Pissarides underlined the need to attract large foreign investments and investment funds or Hedge Funds, while he welcomed the interest expressed by Russian and Chinese companies to invest in Cyprus.

With regard to measures needed to bring the Cypriot economy back on track, Pissarides said that new investments are necessary to achieve economic recovery and growth.

The financial crisis limited the liquidity of local companies and commercial banks therefore the way out is to attract huge foreign investments and in this aspect, we should feel very lucky for natural gas deposits have been found in Block 12 in Cyprus` Exclusive Economic Zone, Pissarides pointed out.

He said that huge publicity was given to the issue abroad and as a result ``many companies want to come to invest in Cyprus, while ``we are offered the opportunity to attract investment funds or Hedge Fundsť. He noted that the economy could be revived by investments of the type of the ones already announce, such as the Russian investments and the Chinese investment at the site of the old Larnaca airport.

[04] Production in construction decreases in 4th quarter of 2011

According to an official announcement, comparing the fourth quarter of 2011 to the corresponding quarter of 2010 for the component indices, it is observed that the Production Index for Buildings recorded a decrease of 11.0% and the Production Index for Civil Engineering of 16.2%.

On a yearly basis, the overall index for 2011 registered a decline of 9.5% over 2010. For the component indices, a drop of 13.5% was recorded in the Production Index for Buildings while an increase of 2.2% was recorded in the Production Index for Civil Engineering.

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