Popular Bank gets support from State

The House of Representatives late last night approved legislation providing for state support to the island’s second largest lender. The item was passed with 43 votes for, none against, and three abstentions.

Popular Bank seeking state aid

THE Popular Bank said yesterday it was in talks with the finance ministry and the Central Bank about state guarantees to raise fresh capital after being battered by the Greek debt write-down.

15 firms to bid for gas drilling rights off Cyprus

Major oil and gas companies such as Russia’s Novatec, Italy’s ENI, France’s Total, and Malaysia’s Petronas are among 15 firms and consortiums that are seeking to carry out exploratory drilling for gas deposits off southern Cyprus, the island’s commerce minister said Friday, despite Turkey’s strong objections.

Cyprus news

More reservoirs poised to overflow



WITH more bad weather on the way various municipalities around the island are making preparations for more reservoirs to overflow.


“All measures have been taken such as cleaning the areas near the dams so that any nearby properties will not be in danger,” said Limassol District Officer, Michalis Parelis, following a meeting yesterday on precautionary measures.

Parelis said the aim of the meeting was to coordinate various bodies to take all the necessary measures to avoid problems if Yermasogia and Polemidia dams overflow.

“The river beds are ready for water to flow into them, while at the same time the amount of water flowing out of the dams has increased to enrich other areas,” said the water development department’s regional engineer, Zoe Hadjivasilliou.

She said Yermasoyia dam was expected to overflow within the next few days or even earlier rainfall remains heavy, with the Polemidia dam set to follow suit in around two weeks.

Hadjivasilliou stressed that the reservoirs were equipped to deal with large flows of water.

Yermasogia mayor Andreas Gavrielides urged civic responsibility and warned that when the reservoir overflows the water needed to flow along the old river bed and illegal premises built in recent years will obstruct the flow.

“Everyone must take on their share of the responsibility, so that the course of the river can revert to its initial position and if there are illegal premises or properties within the course, to take measures on time,” he said.

In Paphos, authorities are waiting for Evretou reservoir to overflow, which is expected to help significantly in irrigation for nearby farms.

A total of six reservoirs have overflowed in the last two weeks including the second largest dam on the island, Asprokremmos, along with Kannaviou, Arminou, Argakas and Pomos, all in Paphos, and Xyliatos in Nicosia. According to the water development department’s senior technician Fedros Roussis, at the moment they are waiting for Vizakia in the Nicosia district to overflow, another one of the smaller dams, which is currently 98.6 per cent full.

Asked whether any of the water is wasted when the dams overflow Roussis reassured that “no water is ever actually lost”.

“The majority of the water flows into rivers and some ends up in the sea which is inevitable and natural,” he said.

It is expected to flow into the sea and that in itself is good for fish, he said.

Some of the water is also removed on a daily basis and used to top up Kouris dam. “A lot of the water is taken to Kouris - the biggest dam - on a daily basis once the other dams begin to overflow, in order to enrich it,” said Roussis.

The water is also used to enrich underground aquifers, a wet underground layer of water-bearing permeable rock from which groundwater can be extracted using a water well. They occur at various depths with those close to the surface more likely to be used for water supply and irrigation and topped up by rainfall, which is the case for the island’s aquifers.

“This is good for the environment as well as rivers as they are allowed to flow naturally,” he added.

He also expressed hope that the Kouris dam would overflow if heavy rainfall continued. Kouris – in Limassol - has a capacity of 115 million cubic metres and currently holds 72.8 million cubic metres of water.

Roussis pointed out that for the moment the melting snow provides a steady flow of water into the dams.

He also said that the public need to be careful if they are visiting reservoirs to see the overflows because if there has been heavy rainfall a sudden rush of water may prove dangerous.


Source: www.cyprus-mail.com
January 31, 2012