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.
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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.
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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.
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Cyprus news

Nicosia dreaming of a white weekend

NICOSIA’s skyline during the weekend could resemble that of its twin city Bucharest in Romania, as snowfall is expected in the capital on Saturday.

The Meteorological Service expects snowfall to start on Saturday morning throughout the island, while the mountainous regions will be dressed in white from today.

Snow could even reach Nicosia, a rare feat for the usually mild weather enjoyed by capital’s residents.

The new freeze wave from Siberia, which has swamped Scandinavian and central European countries, is expected to reach Cyprus today with rainfall, storms and heavy winds.

Temperatures will be rooted at lower than usual for this time of the year – between 10 C and 17 C - while rain is expected to be coupled by hailstorms.

Weather will experience a downturn on Friday, with snow in semi-mountainous regions, while weather conditions are expected to ameliorate on Sunday.

Source: www.cyprus-mail.com
February 16, 2012