Insider Business 'Demetra' withdrew €25 million from Cooperative banks

‘Demetra’ withdrew €25 million from Cooperative banks

The Auditor General requested yesterday the establishment of a research committee on the Cooperative Banks of Cyprus. He mentioned that the management of the €1,7 billion which was given to the Cooperative banks and the withdrawal of millions by Demetra Investment company in September-December 2017, ought to be further examined.

It is possible that the withrawal had to be made but an examination is still necessary, he said. This statement by Odysseas Michaelides was puzzling and surprising to many given that the CCB was a shareholder of ‘Demetra’.

During yesterday’s hours-long meeting of the competent parliamentary committees many questions were raised by the MPs towards Finance Minister Charis Georgiades and the Central Bank of Cyprus. Responses are expected in a new meeting next week. The minister defended the administration of CCB in the last four years saying that there was considereable progress made during that period.

Top Stories

Paphos theme park postponed due to COVID

Paphos was due to get its own theme park through investments from Hong Kong and by Cypriot investors in the area of Kalo Chorio....

Greece and Turkey resume talks on maritime disputes after five years

Greece and Turkey resumed talks aimed at addressing long-standing maritime disputes on Monday, diplomatic sources said, after months of tension in the eastern Mediterranean. The...

No cases of British covid variant detected in Cyprus, strict measures already taken

Cyprus is not among the increasing number of EU countries that have detected cases of the British variant of COVID-19, but health authorities are...

Trial of man, 78, accused of possession of child pornography material starts

Court hearings began on Monday in the case of a 78-year-old man from Paphos who dismissed accusations back in August that he possessed child...

Cyprus takes part in NASA`s “Send Your Name to Mars” campaign

Cyprus takes part in NASA's "Send Your Name to Mars" campaign which also aims to will search for evidence of ancient extra-terrestrial life, according...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...