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

Postal services go online

By Jacqueline Agathocleous

CYPRUS Post yesterday launched its first portal, which consumers can use to rent PO Boxes, purchase stamps and settle bills.

According to Cyprus Postal Services Director Andreas Gregoriou, the aim is to increase the services offered.

“The Portal offers the public and internet users the ability to carry out transactions and purchase services offered by Cyprus Post electronically, through a simple, swift and technologically modern service,” said Gregoriou.

“Among the services offered in the Portal are locating and renting PO Boxes, renewing PO Box rentals, purchasing stamps and philately products, and paying monthly invoices for the EMS DATAPOST services and prepaid duties,” he added.

Presenting the portal www.cypruspost.gov.cy Chief Postal Superintendant Pavlos Pavlides said the aim was to make it easier, faster and safer for consumers to use the post. And the new system is expected to reduce the number of man hours demanded at the Services, which Pavlides said can be used to improve other areas – such as delays in delivering post.

“There are currently 27,147 PO Boxes in use, with another 3,892 available for rent island-wide – in total the postal services offers 31,039 PO Boxes,” he said.

He added that it used to take 15 minutes to renew a PO Box rental before the portal.

Now it takes just eight minutes, which means a 47 per cent reduction in the time needed.

“Our vision is to turn Cyprus Post into a modern and flexible organisation, with economic and administrative autonomy,” said Pavlides. “A service that can correspond to the public’s demands, with a feeling of social responsibility and environmental conscience, be in a position to deal with competition on a local as well as international level and offer qualitative postal services.”

Pavlides and Gregoriou admitted the Services had suffered a few problems over the festive period, which resulted in delays in delivering the post – especially parcels from the UK.

But Gregoriou said it wasn’t just down to the local services. “It is a problem that we are trying to deal with, in cooperation with the UK,” he said. “But the problem had more to do with the British post than here.”


Source:  www.cyprus-mail.com
13 January 2012