Front Page Headlines
Financial contributions from Turkey fall
World Bank prepares a report on Turkish Cypriot economy revealing interesting facts.
Geçitkale (Lefkoniko) Airport is one of the reasons for expensive airfares
Geçitkale Airport is left unused. As a result, the inbound planes are forced to buy more fuel for emergency planning, which is reflected as an additional cost on airfares.
- TC tourism sector to be represented in ITB Berlin 2019 – Tourism Minister Fikri Ataoğlu said TC tourism sector aims to attract German tourists.
- “No one respects the law” – Doctors’ Union president Dr Remzi Gardiyanoğlu criticized the Health Ministry, saying it does not respect the law.
Heavy vehicle terror on the roads
Ayer Yarkıner, member of the Chamber of Mechanical Engineers, shared his research findings, saying there are no standards on heavy vehicle inspections and no equipment to inspect their brake systems.
- 4.38% decrease in Green Line trade – Plastic goods top the list of items sold via the Green Line, while there is a sharp decrease in potato sales, according to Chamber of Commerce statistics.
- Structural problems increase loan costs – Mazher Zaheer, CEO of CreditWest Bank, talks about the reasons for high costs to access funding for businesses.
No justice in the north or in the south
Halet Yıldırım, who did not get any property in the North in exchange for his property in the south, applied to Greek Cypriot court for the return of his property but failed. He then took the case to the ECHR but was rejected again.
- 218 works of art to be returned – TC member of the Bicommunal Technical Committee on Culture Kani Kanol said the committee will identify the procedure to exchange artworks with CyBC recordings on 13 March meeting.
Going on holiday has become a dream
Citizens who barely make ends meet with the money they earn say they cannot even travel to Turkey anymore.
- Balances to change – GC newspaper Politis reports that French fleet to be permanently based at Mari naval base.
Alarm in South over the 80,000
The participation of the Yasemin Movement’s six Turkish Cypriot candidates in the European Parliament elections has alarmed some circles in the South.
Ozersay: Put pressure on GCs to collaborate with TCs on gasKıbrıs, Kıbrıs Postası, Havadis
Negotiations Process, Energy
Foreign Minister Kudret Özersay urged the international community to put pressure on the Greek Cypriots to collaborate with the Turkish Cypriots on natural gas reserves, otherwise “the Turkish Cypriot side will take the necessary steps to protect our rights”. Özersay stressed the activities on natural gas are about to enter a point of no return.
Özersay highlighted that collaboration on hydrocarbons between the two sides is vital for regional peace and for the island’s future. The FM said that permitting the Greek Cypriots to continue their unilateral activities will only increase the Greek Cypriot leadership’s lack of desire to share resources, in addition to strengthening the status quo on the island.
Özersay reminded of the fund established for TC properties in the south and criticized the establishment of a hydrocarbon fund to include the Turkish Cypriots’ share in revenues. It should have been an international fund instead, he said.
>> International community should put pressure on GCs to collaborate with TCs on gas.
>> Hydrocarbons collaboration is vital for regional peace & stability & the island’s future. >> GC side’s unilateral hydrocarbon activities will strengthen status quo.
>> Hydrocarbon fund should have been an international fund.
Turkish Cypriot economy heading towards dire straitsYenidüzen, Kıbrıs
The World Bank warned in a recent report that the Turkish Cypriot economy is facing its biggest crisis since 2001, reports Yenidüzen. The real effects of the loss in value of the Turkish Lira against foreign currency will be felt in 2019, said the report.
It warns that should the economic situation in Turkey get worse, this could have disastrous consequences for the Turkish Cypriot economy. It also pointed out that financial contributions and assistance by Turkey have been reduced, which will make it harder for the Turkish Cypriot economy to recover from the crisis.
The World Bank report also warns that the state budget and local administrations will be coming under serious pressure, triggering a series of bankruptcies.
The report offers a series of predictions and measures that need to be taken to reduce the possible impact of the current economic crisis.
Meanwhile, Kibris reports that there has been a 4.38 per cent decrease in Green Line trade registered by the end of 2018, according to the TC Chamber of Commerce.
In 2018, the overall trade reached 4,792,380 Euro, which is 209,978 Euro less compared to 2017.
The Chamber of Commerce data shows there is a sharp increase in the sale of pomegranates whereas a 73.77% decrease in the sale of potatoes was recorded. Plastic goods top the list of items sold in 2018.
>> TC economy facing its biggest crisis since 2001.
>> Impact of Turkish Lira depreciation will be felt in 2019, bankruptcies expected.
>> Reduction in Turkish assistance will make it harder to recover from crisis.