fight

Western banks warn of risks in EU plan to grab Russian assets, sources say

by
Western banks warn of risks in EU plan to grab Russian assets, sources say

Western banks are lobbying against EU proposals to redistribute billions of euros in interest earned on frozen Russian assets due to fears of costly litigation. EU leaders have agreed to work on a plan to use up to 3 billion euros a year to supply arms to Ukraine, funded by the interest from these assets. Banks are concerned about potential liability from Russia, the erosion of trust in the western banking system, and the legal implications of transferring money to Ukraine. Euroclear holds 190 billion euros of Russian central bank securities and cash, and more than 3.5 million Russians have frozen assets abroad worth around 1.5 trillion roubles. The EU plan includes paying a fee to Euroclear and allowing it to retain 10% of the profits as a safeguard against litigation. Ninety percent of the seized cash would be used to buy arms for Ukraine, with the rest for recovery and reconstruction. The proposal has raised concerns about the legal risks for banks and the potential for prolonged international legal disputes.

Swiss central bank cuts rates in surprise move, getting ahead of global peers

by
Swiss central bank cuts rates in surprise move, getting ahead of global peers

The Swiss National Bank cut its main interest rate by 25 basis points to 1.50 per cent and also reduced its interest rate on sight deposits to the same percentage. This decision marked the first rate cut in nine years and was unexpected by many, leading to a decrease in the value of the Swiss franc and a drop in Swiss government bond yields. The move was in response to a drop in Swiss inflation to 1.2 per cent in February, maintaining within the SNB’s target range of 0-2 per cent for nine consecutive months. The SNB’s action reflects its assessment that the fight against inflation over the past two and a half years has been effective, with expectations that inflation will remain within the target range in the coming years. This decision came before the chairman, Thomas Jordan, is set to step down in September.

Over 1,000 teachers strike demanding job security

by
Over 1,000 teachers strike demanding job security

A subset of teachers went on a 24-hour strike on Thursday demanding job security for their posts. The Education Minister, Athena Michaelidou, described the strike as “hasty and untimely”. The protesting group, consisting of 1,200 teachers working in the ministry’s support programmes, expressed concerns over potential unemployment after ten years of work. These teachers are contract workers who have signed collective agreements for their services. Andreas Kounnis, the general secretary of Pasey-Peo, criticized the working conditions and pledged to fight against any potential unemployment of colleagues. The teachers demanded job security for all involved in the 12 support programmes. Union members accused Minister Michaelidou of delaying decisions to avoid reactions. Michaelidou stated she is working on resolving the labour issue and has shared a draft bill to regulate the employment status of these teachers, awaiting feedback from the unions. She also mentioned an upcoming proposal for the pedagogical restructuring of the programmes.

Swedish Eurovision host city braces for possible protests

by
Swedish Eurovision host city braces for possible protests

The Swedish city of Malmo, hosting the Eurovision Song Contest in May, expects guests from 80 countries and is preparing for possible unrest. The event, which is the world’s biggest music competition of its kind, aims to be non-political. Despite this, the European Broadcasting Union has faced pressure to exclude Israel due to its actions in Gaza but has resisted these calls. Malmo’s Safety Director, Per-Erik Ebbestahl, mentioned there is no direct threat to Eurovision, but the situation could change. Cultural events in Europe have recently been impacted by protests related to the Gaza conflict. Israel modified its Eurovision song to comply with the event’s non-political requirements. Malmo’s Mayor, Katrin Stjernfeldt Jammeh, emphasized the city’s support for democratic expression while acknowledging the potential for disruptive actions. The contest is scheduled for May 7-11.

Uniting cultures through dance

by
Uniting cultures through dance

Music, song, and dance are significant in uniting people across different cultures. In Cyprus and China, local initiatives are actively preserving traditional dance as part of modern life. Yanggyi, a 25-year-old kindergarten teacher and passionate Tibetan dancer from Chengdu, China, formed a dance group in 2021 to promote Guozhuang, a traditional Tibetan dance. The group has become popular, amassing 420,000 social media followers. Guozhuang dance, characterized by its circle formation and symbolic movements, is a community and social cohesion symbol. In Cyprus, the Ayioi Omologites Cultural Centre, active since 1999, focuses on teaching and preserving traditional Cypriot dancing among all age groups. Research conducted in the 1980s by Alecos Iacovides documented specific characteristics of Cyprus traditional dancing. Both initiatives highlight the importance of respecting and preserving cultural traditions to foster a sense of belonging and community. Mirror of Culture is a joint initiative by the Cyprus Mail and the Chinese embassy, aiming to promote cultural understanding and preservation between Cypriot and Chinese cultures.

Focus on Cyprus on Against Racism Day

by
Focus on Cyprus on Against Racism Day

Human rights commissioner Maria Stylianou-Lottides emphasized that combating racism and promoting equality and mutual respect are collective responsibilities. She highlighted the importance of International Day Against Racism and Discrimination, observed on March 21, as a reminder for states to combat racism and xenophobia. Lottides mentioned the EU Agency for Fundamental Rights’ 2023 report “Being Black in the EU,” which indicates that people of African descent still face racism, discrimination, and hate crimes despite anti-discrimination laws in the EU. She also noted that racist incidents and xenophobic rhetoric have worsened in Cyprus, partly due to an increase in asylum seekers and economic difficulties. Examples of such incidents include a video from July 2022 showing a violent attack on an African woman with a baby, attacks against foreign food delivery drivers in Nicosia, and recent incidents in Chloraka and Limassol. Lottides called for prompt and decisive intervention by authorities to address racism effectively.

Electricity cable from Turkey , ‘will mark a new era’

by
Electricity cable from Turkey , ‘will mark a new era’

The construction of an electricity cable between Turkey and the north is seen as marking a new era, according to Turkish Cypriot Leader Ersin Tatar. This statement was made after an Iftar meal in Istanbul, attended by various dignitaries including Turkey’s Vice President Cevdet Yilmaz and Turkey’s ambassador in Nicosia Metin Feyzioglu. Tatar highlighted the support from Turkey in bringing big ideas to life in the north, such as the completion of a water pipeline in 2020 and investments in infrastructure and communication. He emphasized the ongoing efforts to make the TRNC worthy for future generations and stated that Turkish Cypriots remain an integral part of Turkey. Yilmaz spoke of the historical ties between Turkish Cypriots and Turkey and mentioned the celebration of the 50th anniversary of the Cyprus peace operation. He also referred to the construction of a new ‘presidential’ palace and ‘parliament’ building in Ayios Dhometios, expected to be completed by November, and the commencement of feasibility studies for the planned electricity cable. Additionally, both Tatar and Yilmaz praised Murat Kurum for his contributions, particularly in the opening of Varosha. The local elections in Turkey are scheduled for March 31, with Kurum challenging the incumbent mayor Ekrem Imamoglu.

Harnessing the power of Shilajit: How it supports overall health and vitality

by
Harnessing the power of Shilajit: How it supports overall health and vitality

Shilajit is a natural substance found in the Himalayas, formed from the slow decomposition of plants. It has been used in Ayurvedic medicine for centuries due to its health benefits. Shilajit contains fulvic acid, over 84 minerals, vitamins, and organic compounds. It offers health benefits such as enhancing physical performance, alleviating altitude sickness, and potentially fighting against Alzheimer’s disease by preventing the accumulation of tau protein. Shilajit also enhances vitality and energy by aiding mitochondrial function, promotes healthy aging through its antioxidant profile, and aids in the absorption of minerals via fulvic acid.

Anti-racism march takes place in Nicosia

by
Anti-racism march takes place in Nicosia

An anti-racism event was held in the old city of Nicosia on the occasion of the International Day for the Elimination of Racial Discrimination, which is observed annually on March 21. The event was organized by the Alliance Against the Far Right, Fascism, and Racism, with participation from Greek Cypriot and Turkish Cypriot political parties and organizations. Attendees included Akel’s General Secretary, Stefanos Stefanou, and the Green Party Leader, George Perdikis. The march started at Solomos Square and ended at Faneromeni Square, where an artistic program took place. Participants chanted slogans against racism and fascism. Marina Stavrinou-Koukou, a member of the alliance, stated the march aimed to highlight the importance of equality and the rights of all individuals, especially vulnerable groups, migrants, and those from diverse backgrounds. Koukou emphasized the worsening situation regarding the rise of the far right and inhumane ideologies, and the need for continued efforts towards human rights, equality in employment, and humane living conditions. She called on the state and government to support these efforts, highlighting the impact of racism and fascism on society. The alliance includes over 60 organizations, encompassing Greek Cypriot, Turkish Cypriot, and migrant groups.

27-year-old, ’s death ‘may have been caused by fight’

by
27-year-old, ’s death ‘may have been caused by fight’

A 27-year-old man named Onur Kayabasi died in Kyrenia on Sunday, and his death may have been caused by a physical altercation he was involved in the previous week. An autopsy indicated that a blow to the abdominal region, resulting in a blood clot in one of his organs, might have caused his death. The altercation occurred on March 13 when Kayabasi and another man had a verbal argument that escalated, leading to Kayabasi being hit over the head and kicked in the abdominal area. Kayabasi sought medical attention for abdominal pain on March 14 but was later discharged. The man involved in the altercation with Kayabasi was arrested and remanded in custody for three days.