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Cyprus News Agency: News in English (PM), 97-01-30

Cyprus News Agency: News in English Directory - Previous Article - Next Article

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


CONTENTS

  • [01] Cyprus Stock Exchange
  • [02] Reserved satisfaction with Council resolution
  • [03] Clerides leaves for Davos
  • [04] Romania wishes to develop trade relations with Cyprus
  • [05] Russian officials arrive on a fact-finding mission
  • [06] Christodoulou says Stock Exchange operates smoothly

  • 1455:CYPPRESS:01

    [01] Cyprus Stock Exchange

    Nicosia, Jan 30 (CNA) -- The Cyprus Stock Exchange (CSE) All Share Index closed at today's stock exchange meeting as follows:
    CSE All Share Index                    73.90 (-1.90)
    
    Sectural Indices
    
    Banks                                  83.97 (-2.02)
    Approved Investment Companies          62.62 (-2.08)
    Insurance Companies                    52.27 (-2.30)
    Industrial Companies                   71.98 (-1.33)
    Tourist Industries                     65.18 (-0.58)
    Commercial Companies                   47.92 (-3.64)
    Other Companies                        59.36 (-1.13)
    
    Trading Volume                         CYP 714034.668
    
    * The difference in brackets represents the percentage increase (+) or decrease (-) of the index from the previous stock exchange meeting.
    CNA MCH/1997
    ENDS, CYPRUS NEWS AGENCY
    1515 :CYPPRESS:02

    [02] Reserved satisfaction with Council resolution

    Nicosia, Jan 30 (CNA) -- Political parties described today a Council of Europe resolution on the situation in Cyprus as the best they could have hoped for under the circumstances.

    ''We believe we have achieved the best possible result under the circumstances,'' President of the House of Representatives, Spyros Kyprianou, told the press here today.

    Praising the way Cypriot deputies handled the issue, Kyprianou noted that the original text of the draft resolution was particularly negative for Cyprus but through the joint effort of the Cyprus and Greek delegations the amendments were adopted for the better.

    ''The final document includes some points which cannot be considered as positive,'' he added.

    The plenary of the Parliamentary Assembly adopted on Wednesday, with an overwhelming majority, a resolution which increases the number of Greek Cypriot representatives from three to four.

    Moreover, with a view to improving its dialogue with the people of Cyprus, the Assembly ''instructs its committees to invite representatives of the political forces of the Turkish Cypriot community to be represented whenever the situation in Cyprus is discussed.''

    It also invites the ''representatives of the political forces of both communities to start discussing possible ways to ensure the proper representation of the whole people of Cyprus in the Assembly'' under the terms of the relevant Assembly articles.

    The resolution blames both sides for the lack of progress towards a peaceful and lasting settlement and calls on their leaders to ''resume their meetings.''

    Expressing support for the demilitarisation of the island, the resolution advocates increased contact between the two communities.

    It also calls on the Turkish Cypriot administration to ''change its policies that now amount to violations of human rights'' and to implement UN measures to improve the living conditions of Greek Cypriots living in the Turkish occupied part of the island.

    CNA MM/MCH/1997
    ENDS, CYPRUS NEWS AGENCY
    1755:CYPPRESS:03

    [03] Clerides leaves for Davos

    Larnaca, Jan 30 (CNA) -- President Glafcos Clerides left today for Davos, Switzerland, where he will attend the annual World Economic Forum and have his first meeting with new UN Secretary-General, Koffi Anan.

    On departure, President Clerides said his Saturday meeting with the UN chief had been requested by Anan himself.

    ''It is obvious we will exchange views on the Cyprus problem, its recent developments and future prospects, as well as the humanitarian issue of the persons missing,'' since the 1974 Turkish invasion of the island, he said.

    The President told the press he will present the UN Chief with the government's talking points on the issue and that he intends to ask him to meet with a delegation of relatives of missing persons.

    During his four-day stay in Davos, President Clerides will also discuss the Cyprus problem with other heads of state and Foreign Ministers participating in the World Economic Forum.

    Asked about a letter conveyed to him earlier today by UN Chief's top envoy for Cyprus, Han Sung Joo, President Clerides said, Anan ''expressed concern about the dangers of the protracted de facto situation and his will for intensive personal interest to promote his mission of good offices.''

    Turkish troops have been occupying 37 per cent of Cyprus territory since 1974, in violation of repeated UN resolutions calling for their withdrawal.

    The UN Secretary-General also informed President Clerides he will convey relevant letters to the Prime Ministers of Greece and Turkey, Costas Simitis and Necmetin Erbakan, respectively.

    Anan, the President added, gives the general impression that ''intense and constructive efforts'' should be made by all parties concerned to promote a Cyprus settlement.

    The President also clarified that no mention was made by Anan to a face- to-face meeting between himself and Turkish Cypriot leader Rauf Denktash.

    Foreign Minister Alecos Michaelides is accompanying President Clerides to Davos, where they will stay until Sunday. CNA TA/EC/AP/MCH/1997

    ENDS, CYPRUS NEWS AGENCY
    1800:CYPPRESS:04

    [04] Romania wishes to develop trade relations with Cyprus

    Nicosia 30 Jan (CNA) -- Romania wishes to develop trade and economic relations with Cyprus, a Romanian official said here today.

    Speaking at a press conference at the Cyprus Merchandising Centre (IMC) on the occasion of the "Romanian Products Week", the Director General of the Romanian Ministry of Industry and Commerce, Mircea Toader, said in the first 11 months of 1996, the total trade transactions between Romania and Cyprus amounted to 50,5 million dollars.

    He said there are now 348 joint ventures registered in Romania with Cypriot capital invested, amounting to 26 million dollars.

    The Romanian official added his country is ready to develop trade and economic relations with Cyprus as an important factor in the process of integration of Romania and Cyprus in the European Union.

    Speaking at the opening ceremony of the exhibition, the Romanian Charge d'Affaires Florian Unchiasu, said this is a great opportunity for improving business and bilateral relations between the two countries.

    Cyprus Commerce, Industry and Tourism Minister Kyriakos Christofi expressed the wish that IMC would become an international business centre for promoting exhibited products in Cyprus as well as Cyprus itself.

    The Cypriot Minister thanked the government of Romania for choosing Cyprus as an exhibiting centre and wished success to the exhibitors.

    On behalf of Romexpo Exhibitions Centre Mrs Carmen Mihaia told the press that the aim of this exhibition is to introduce Romanian goods to the Cyprus market.

    On display in the first Romanian Products Week in Cyprus are products of seven companies, three of which are famous furniture manufacturers whilst others include electric motors and automobile parts, fabrics, ladies garments, sanitary fittings, locks and security systems. CNA/AZK/GP/1997

    ENDS, CYPRUS NEWS AGENCY
    2000:CYPPRESS:05

    [05] Russian officials arrive on a fact-finding mission

    Larnaca, Jan (CNA) -- Head of the Third Directorate for European Affairs at the Russian Foreign Ministry, Vladimir Tchizhov, arrived here this evening for a fact-finding mission.

    On arrival from Athens, Tchizhov said his visit to Cyprus is part of a fact-finding mission in a three-nation tour, that included visits to Ankara and Athens, as a special envoy of Russian Foreign Minister Yevgeni Primakov.

    He noted that along with his deputy Alexander Orlov ''we are having detailed talks on Cyprus and the ways to push forward the solution of the Cyprus problem.''

    The Russian official referred to his talks in Ankara and Athens earlier this week and said tomorrow he will start his meetings with the party leaders in Cyprus.

    Tshizhov said he will meet with President Glafcos Clerides, after his Sunday return from Davos, Turkish Cypriot leader Rauf Denktash and the UN Secretary-General's Special Representative for Cyprus, Han Sung Joo, currently on a week-long visit here.

    The Russian official reaffirmed his country's interest in assisting efforts towards a just and lasting Cyprus settlement and noted Russian desire for ''international collective efforts'' in this direction.

    Tshizhov noted that all parties concerned recognise the lack of progress in Cyprus and they accept that further efforts should be made to break the current deadlock.

    Asked to comment on the purchase by Cyprus of the Russian-made anti- aircraft missiles S-300, Tshizhov said Ankara raised the issue but Russia's view is that the arms deal is a ''commercial deal.''

    He noted that Russia, and the former USSR, had always been involved in the efforts to resolve the Cyprus question, but he pointed out the problem ''can only be solved by the Cypriots themselves.''

    Tshizhov noted the complexity of the problem, pointing out its international and internal aspects, and said the role of the international community is ''supportive'' in order to create the proper conditions to make this effort a success.

    He also said Russia supports President Clerides' proposal for the demilitarisation of the island and considers it a ''basic factor'' that will facilitate efforts for a solution.

    Tshizhov and Orlov will stay on the island for five days and their three-nation tour has been described by Moscow sources, earlier this week, as a fact-finding mission to pave the way for a visit by a Russian Deputy Foreign Minister, expected to take place in about a month.

    Tshizhov, who had served for many years in the former Soviet Embassy in Nicosia, is newly-appointed to his post as Head of the Third Directorate for European Affairs at the Russian Foreign Ministry. CNA TA/EC/AP/MCH/1997

    ENDS, CYPRUS NEWS AGENCY
    2015:CYPPRESS:06

    [06] Christodoulou says Stock Exchange operates smoothly

    Nicosia, Jan 30 (CNA) -- Finance Minister, Christodoulos Christodoulou expressed today satisfaction with the way the Cyprus Stock Exchange (CSE) operates and said the drop in share prices was a ''corrective move''.

    Speaking to the press after a meeting with the President and members of the CSE Board, Christodoulou said he had no reservations to state in public that the Stock Exchange operates satisfactorily.

    The Minister pointed out however, that the conditions under which the Stock Exchange operates ''had been particularly difficult in 1996 and during the first month of 1997.''

    Asked to comment on a report by Reuters that shares on Cyprus' Stock Exchange hit an all time low and that investors are concerned about the unstable political climate on the island, Christodoulou dismissed it as ''a matter of interpretation''.

    He explained that the decline in share prices was a corrective move following their artificially inflated level at the launch of the exchange.

    Christodolou said during the meeting with the CSE Board, views were exchanged about the feasibility of introducing specific tax-incentive measures to help boost the interest of investors.

    He also said bills on insider trading and mergers and acquisitions were also discussed and will be soon tabled in the House of Representatives.

    CNA GY/MK/MCH/1997
    ENDS, CYPRUS NEWS AGENCY

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