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Cyprus News Agency: News in English, 13-06-18
CONTENTS
[01] Minister of Works meets with Technical Commitee on Cultural Heritage
[02] EU applies stricter rules for credit rating agencies
[01] Minister of Works meets with Technical Commitee on Cultural Heritage
Minister of Communications and Works Tasos Mitsopoulos met Tuesday
with the Chairman of the Technical Committee on Cultural Heritage Takis
Hadjidemetriou with whom he discussed issues related to the restoration
of monuments in the Turkish occupied areas.
Hadjidemetriou said that the meeting focused on the restoration of Agios
Panteleimonas Monastery, adding that the Committee is in the process of
acquiring the necessary funding for this project. He added that already
there is a private funding that sums up to 39.000 euro.
The Minister said that he was briefed by the Technical Committee on the
projects that are underway for the restoration of cultural monuments in
the occupied areas and that the Ministry stands ready to help in any way.
[02] EU applies stricter rules for credit rating agencies
Credit rating agencies (CRAs) will have to follow stricter rules as of
Thursday, June 20, following relevant legislation that enters into force
after the agreement of the Council and the European Parliament.
The new rules that were adopted last January, define the way CRAs
will rate public debt, as well as the financial standing of private
enterprises. Rules are deemed to be stricter than before, and ensure that
a rating agency can be held liable when causing damage to an investor
or an issuer.
To avoid market disruption, rating agencies will set up a calendar
indicating when they will rate Member States. Such ratings will be
limited to three per year for unsolicited sovereign ratings.The ratings
will only be published after close of business and at least one hour
before the opening of trading venues in the EU.
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