Cyprus votes in presidential polls as clock ticks on bailout dealFebruary 24, 2013 - 17:17 AMT PanARMENIAN.Net - Cypriots voted on Sunday, Feb 24 in a runoff to elect a president who must clinch a bailout deal before the island nation plunges into a financial meltdown that would revive the euro zone debt crisis, Reuters reported. Conservative leader Nicos Anastasiades, who favors hammering out a quick deal with foreign lenders, is tipped to win against Communist-backed rival Stavros Malas, who is more wary of the austerity terms accompanying any rescue. Financial markets are hoping for an Anastasiades victory to speed up a joint rescue by the European Union and International Monetary Fund before the island runs out of cash and derails fragile confidence returning to the euro zone. The 66-year-old lawyer took more than 45 percent of the vote in the first round in the Greek-speaking Cypriot south, easily beating 45-year-old geneticist Malas, who took 27 percent. Polls close at 4.p.m. (British time), with the result expected soon afterwards. The winner will take the reins of a Mediterranean nation ravaged by its worst economic crisis in four decades, with unemployment at a record high of 15 percent. Pay cuts and tax hikes ahead of a bailout have further soured the national mood. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Pasadena to host Armenian Genocide commemoration event The Pasadena Armenian Coalition will host its community-wide Armenian Genocide Commemorative Event. Armenia: Opposition activist transferred to Investigative Committee Activist Samvel Vardanyan has been accused of insulting the lawmaker Hakob Aslanyan from the ruling Civil Contract party. Former Pashinyan envoy urges end to Genocide speculation Marukyan has urged authorities in Armenia stop discussions about verifying the names of 1.5 million victims. Azerbaijan, Jordan sign deal on defense cooperation Azerbaijan and Jordan have signed an agreement on cooperation in the field of defense, according to an official statement. |