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Cyprus News Agency: News in English, 13-02-13
CONTENTS
[01] Less municipal solid waste in 2011
[02] Cypriot banks ask for more time to announce preliminary results
[01] Less municipal solid waste in 2011
Municipal solid waste generated in Cyprus in 2011 recorded a decrease
of 2% compared to the previous year.
According to the Statistical Service, it is estimated that the total
amount of municipal solid waste generated in Cyprus in 2011 stood at
560 thousand tonnes.
In 2010 it was 572 thousand tonnes in 2010, recording a decrease of 2,0%.
[02] Cypriot banks ask for more time to announce preliminary results
The island's two biggest banks, the Bank of Cyprus and the Popular Bank,
have sent a request to the Cyprus Securities and Exchange Commission
asking for more time to announce their preliminary financial results
for 2012.
According to CNA sources, the two banks argue that they cannot meet
the February 28 deadline for submitting their preliminary financial
statements because they have not as yet been informed about the final
amount investment management firm Pimco believes is needed for their
recapitalization. Consequently, they say, anything announced by the
banks might be misleading to investors.
Global investment solutions provider PIMCO has been assigned with the due
diligence (accounting and economic value assessment) that would determine
the capital needs of the Cypriot banking system at the request of the
Troika (European Commission, European Central Bank and the International
Monetary Fund) as part of Cyprus` application for financial assistance
from the EU bailout mechanism.
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