Cyprus News Agency: News in English, 13-11-12

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From: The Cyprus News Agency at <http://www.cyna.org.cy>

CONTENTS

[01] MFA issues Travel Advice for the Philippines

[02] October inflation decreased

[03] IMF team visits Cyprus to scrutinize solvency law

[01] MFA issues Travel Advice for the Philippines

As it is noted "in light of the disaster caused by the passage of typhoon Haiyan over the Philippines, the citizens of the Republic of Cyprus who are permanent residents, traveling or intend to travel to the Philippines are advised to avoid non-essential travel to certain areas of the country, to monitor closely the meteorological situation and follow the safety instructions of the local Authorities."

In case of emergency, Cypriot citizens can contact the Crisis Management Department at the MFA on +357 22801000 or the Duty Officer of the Ministry of Foreign Affairs on +357 99660129 (outside normal working hours).

[02] October inflation decreased

According to the data, corresponding rate for September 2013 was 0,3% and 2,6% for October 2012.

The fluctuations of the Index during the last three months as well as the percentage change compared with last year are presented in the table below:

Indices (2005=100)

Percentage change (%)

Categories of Goods and Services

August

2013

September

2013

October

2013

October

2012/11

October 2013/12

General Index (HICP)

120,80

120,96

120,25

2,6

-0,5

1.

Food and non-alcoholic beverages

133,11

133,51

135,42

2,9

1,1

2.

Alcoholic beverages and tobacco

128,31

129,97

128,92

2,1

8,6

3.

Clothing and footwear

77,64

86,51

92,22

-5,8

-2,6

4.

Housing, water, electricity and gas

143,27

142,72

141,58

6,9

-7,2

5.

Furnishings, household equipment and supplies

102,44

103,21

102,62

-0,7

-1,9

6.

Health

123,79

123,41

123,34

0,1

-3,1

7.

Transport

121,49

121,53

119,49

5,7

0,7

8.

Communication

101,99

101,99

101,95

1,4

0,9

9.

Recreation and culture

106,61

106,15

106,06

0,3

-1,1

10.

Education

133,70

131,92

128,87

0,8

-3,9

11.

Restaurants and hotels

129,97

126,28

121,49

3,7

0,6

12.

Miscellaneous goods and services

117,08

117,66

117,77

-0,2

0,1

[03] IMF team visits Cyprus to scrutinize solvency law

A reliable source told CNA that the team arrived in Cyprus on Monday and will meet all stakeholders for one week, in a bid to scrutinize the Cypriot solvency law and provide recommendations for amendments.

The team is on the island following the conclusion of the second review of the Cypriot adjustment programme. Amid the continued economic downturn, the main source of concern over the Cypriot banking sector is the rise of the Non-Performing Loans, estimated at 30% of total loans until March 2013.

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