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Cyprus News Agency: News in English (PM), 97-07-08

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

From: The Cyprus News Agency at <>


  • [01] Cyprus Stock Exchange
  • [02] Cyprus Stock Exchange inauguration
  • [03] EU call for outcome in peace talks
  • [04] OSCE criticised for report on Turkey
  • [05] No US plan on Cyprus problem, says Burns
  • [06] Holbrooke says accession talks facilitate Cyprus solution
  • [07] Kasoulides exchanged views with Holbrooke on Cyprus

  • 1500:CYPPRESS:01

    [01] Cyprus Stock Exchange

    Nicosia, Jul 8 (CNA) -- The Cyprus Stock Exchange (CSE) All Share Index closed at today's stock exchange meeting as follows:
    CSE All Share Index                    75.61 (-0.54)
    Highest: 82.46 (2/1/97)
    Lowest : 73.90 (30/1/97)
    Sectural Indices
    Banks                                  83.88 (-0.49)
    Approved Investment Companies          63.45 (-1.80)
    Insurance Companies                    59.25 (-1.18)
    Industrial Companies                   78.80 (-0.26)
    Tourist Industries                     63.96 (-0.70)
    Commercial Companies                   48.31 (-0.45)
    Other Companies                        61.52 (+0.08)
    Trading Volume                         CYP 458224.291
    * The difference in brackets represents the percentage increase (+) or decrease (-) of the index from the previous stock exchange meeting.
    CNA MCH/1997

    [02] Cyprus Stock Exchange inauguration

    Nicosia, Jul 8 (CNA) -- Finance Minister Christodoulos Christodoulou inaugurated today the new floor of the Cyprus Stock Exchange (CSE), expressing his optimism on its future prospects.

    Christodoulou said he is confident that the CSE will witness a better performance in the near future, as the government intends to introduce new incentives and measures, which will strengthen investment activity.

    The CSE's course and its contribution to the Republic's economic development are satisfying, the Minister added.

    Referring to the present state of the economy, he noted that the difficulties of the first three months of the year are decreasing, thanks to the measures taken by the government, for which millions of pounds have been spent for the industrial and tourist sectors, and the development strategies, implemented by the government.

    "The economy is already recovering, and this recovery is expected to continue", he added, while referring to the 1998 state budgets, he said they reflect the government's development aims, as expenditure for development and infrastructure will increase by 10 per cent, compared to that of 1997, reaching 250 million pounds (one Cyprus pound is around two US dollars).

    Speaking to the Press after the inauguration ceremony, Christodoulou noted that the CSE must be upgraded on a solid basis, in order to become the Stock Exchange of the region, and not only that of Cyprus.

    CSE Chairman, Dinos Papadopoulos, pointed out that the floor is fully equipped, reaching the level of advanced stock exchanges.

    CNA GG/MCH/1997

    [03] EU call for outcome in peace talks

    Brussels, Jul 8 (CNA) -- The European Union (EU) has called on the Greek and Turkish Cypriot communities in Cyprus to enter into direct talks with a spirit of openness and has reassured it will to everything it can to achieve an outcome.

    In an EU presidency declaration issued today, the EU "calls on the Cypriot parties to enter these talks in a spirit of openness" and hopes they will enable them "to engage in a genuine negotiating process".

    It also calls on "all other parties involved to bring all their influence to bear to enable progress to be made towards a negotiated, just and lasting solution in Cyprus."

    The five-day talks are beginning in Troutbeck, near New York, Wednesday, under the aegis of UN Secretary-General Kofi Annan.

    They will be conducted by his special representative, Diego Cordovez, while foreign government and international organisation representatives, including the EU, will be on hand to offer assistance.

    On its part, the EU Luxembourgian presidency notes that "together with the other members of the international community" it will "do everything within its power to achieve a positive outcome to those talks, with an eye in particular to the prospective opening of the process for its enlargement."

    CNA NB/MA/MCH/1997

    [04] OSCE criticised for report on Turkey

    Nicosia, Jul 8 (CNA) -- Cypriot MP Marcos Kyprianou criticised an Organisation for Security and Cooperation in Europe (OSCE) committee for only meeting with Turkish officials during a visit to Ankara to prepare a report on the human rights condition in the country.

    Speaking before the Humanitarian Affairs Committee of the OSCE Parliamentary Assembly, meeting in Warsaw, Kyprianou also pointed out that no reference was made in the report to the Turkish occupation of 37 percent of Cyprus' territory.

    He said that in their report the MPs confined themselves to recording the positions of the officials with whom they met, and did not meet with human rights' organisations or other groups, including Kurds.

    The Cypriot MP stressed that the OSCE cannot pretend that Turkey has nothing to do with a solution to the Cyprus problem and added that the delegation should have raised the issue with the Turkish officials.

    The plenary accepted Kyprianou's proposal that Turkish human rights groups are invited to attend the annual Parliamentary Assembly meeting, to be held in Denmark, next year.

    CNA MA/MCH/1997

    [05] No US plan on Cyprus problem, says Burns

    Nicosia, Jul 8 (CNA) -- State Department Spokesman, Nicholas Burns, said US Presidential Emissary for Cyprus, Richard Holbrooke, has no plan on the Cyprus question and is still at the planning stage.

    He also reiterated US support to UN efforts for a solution and the direct negotiations between President Glafcos Clerides and Turkish Cypriot leader, Rauf Denktash, beginning in Troutbeck, near New York, on Wednesday.

    "I am not aware of a Holbrooke plan," Burns said, replying to questions during his regular briefing, and added "he doesn't have a plan yet".

    The State Department Spokesman said Holbrooke and the US "very much support" the five-day UN-sponsored negotiations.

    Noting that the UN are mediating the talks, Burns added "the US is an interested party to the talks, a friend to all concerned, and that's, I think, the appropriate way to describe our respective involvements."

    The American diplomat expressed the view that "all the parties are approaching these talks in New York with an effort to cooperate with the UN and with each other".

    Asked to comment on recent intransigent statements made by Turkish officials and Denktash, Burns said he has seen no indication "of any party not wishing to be open-minded and cooperative in these talks".

    "We urge all the parties, Turkey, Greece and the Turkish as well as the Greek Cypriots to be constructive in these talks," he concluded.

    CNA MA/MCH/1997

    [06] Holbrooke says accession talks facilitate Cyprus solution

    by Maria Myles

    New York Jul 8 (CNA) -- US Presidential Emissary, Richard Holbrooke believes Cyprus' accession talks with the European Union could facilitate efforts towards a settlement of the protracted Cyprus problem.

    Calling on the Greek and Turkish Cypriot communities to "take advantage of this unique opportunity", Holbrooke pointed out that Cyprus could be "the Singapore of the Eastern Mediterranean."

    Speaking after a 90-minute long meeting with President of the Republic, Glafcos Clerides, Holbrooke repeated earlier statements that "I am not here today to negotiate", noting that "this is the UN week".

    "The US fully supports Secretary-General, Kofi Annan's efforts and I look forward to seeing the President next week at the end of the meetings at Troutbeck", he added. Asked to comment on threats by the Turkish Cypriot leader, Rauf Denktash, to turn the occupied areas of Cyprus into an autonomous part of Turkey, Holbrooke said "the US is very strongly in favour of an undivided Europe and the US strongly support Cyprus' accession talks with the EU".

    Invited to say if accession talks could facilitate US efforts to find a solution, Holbrooke replied: "I think it is a very positive thing, the US strongly supported the addition of Cyprus to the list of the countries that would be considered first and the economy of Cyprus demonstrates clearly that Cyprus is ready for membership".

    "I think Cyprus has a unique economic opportunity to be the Singapore of the Eastern Mediterranean and when I say Cyprus, I mean both communities and I hope people of both communities take advantage of this unique opportunity", he told the press.

    Asked by CNA to identify what the US would consider progress in this first round of talks, Holbrooke said he was not prepared to "comment on those things" and added, "ask President Clerides anything to do with UN talks is his business, I will not be there."

    Replying to other questions, the American envoy said he would discuss with President Clerides his plans for precise dates for a trip to Cyprus at their meeting next week.

    He also refrained from commenting on Denktash's warning that the US would fail in its efforts for a settlement in Cyprus unless it recognises the pseudostate in occupied Cyprus.

    "I did not see the interview", Holbrooke said when invited to comment on Denktash's statement to this effect in a recent interview.

    On his part, President Clerides said he did not think it was "very useful" to reply to questions and added "we are going to negotiate, we are going to talk in order to find a solution and I think any statements made before we sit around the table are not helpful".

    Later today, the President will meet Russia's envoy to the talks, Vladimir Tschisov.

    CNA MM/RG/MCH/1997

    [07] Kasoulides exchanged views with Holbrooke on Cyprus by Maria Myles

    New York, Jul 8 (CNA) -- Foreign Minister Ioannis Kasoulides today exchanged views with US Presidential Emissary, Richard Holbrooke, on his contribution in efforts for a solution to the protracted Cyprus problem.

    In statements after meeting Holbrooke in New York, Kasoulides reiterated that the Greek Cypriot side will take part in the UN-led talks for a solution, beginning Wednesday, with good will and an open mind.

    Referring to the meeting, Kasoulides said they had a "preliminary exchange of views on his (Holbrooke's) role in efforts for a solution to the Cyprus issue", but did not reveal any details about their discussion.

    Carey Cavanaugh, Director of the State Department Office of Southern European Affairs, was also present at the meeting, which Kasoulides described as an "aquaintance meeting".

    Earlier today, Holbrooke met President Glafcos Clerides and had a meeting on Monday with Turkish Cypriot leader Rauf Denktash.

    The US diplomat, who struck the Bosnian peace agreement, had asked to meet President Clerides, Kasoulides and Denktash, prior to the five-day negotiations and after the talks end on July 13.

    Invited to comment on the US Presidential Emissary's role in efforts for a Cyprus solution, Kasoulides noted that "every person who has undertaken to help efforts, wants to see political will from both sides, and Holbrooke has the political will of the Greek Cypriot side."

    The Foreign Minister also stressed that intransigent statements made by Denktash prior to the talks, "make the situation very difficult".

    Furthermore Kasoulides refrained from expressing an opinion on the outcome of the negotiations.

    Only 24 hours before the talks are scheduled to begin in Troutbeck, north of New York City, Denktash said the Greek Cypriot side has to accept separate sovereignty for the Turkish Cypriots, a demand rejected by both the Cyprus government and the UN.

    Replying to a question, the Foreign Minister said "we will go to Troutbeck tomorrow with the political will to achieve progress, with an open mind, positive and constructive".

    Asked when the US should be expected to take a more active role in efforts for a solution, Kasoulides pointed out the American initiative began the day Holbrooke was appointed and it is up to the US government to decide when to act.

    CNA MM/MA/EC/1997
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