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Cyprus News Agency: News in English (PM), 98-06-12

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

From: The Cyprus News Agency at <>


  • [01] Cyprus Stock Exchange
  • [02] European Socialist delegation to visit Cyprus
  • [03] Revenue reduction from abolition of duties
  • [04] House President meets Italian counterpart
  • [05] Russian assurances about missiles delivery to Cyprus

  • 1550:CYPPRESS:01

    [01] Cyprus Stock Exchange

    Nicosia, Jun 12 (CNA) -- The Cyprus Stock Exchange (CSE) All Share Index closed at today's stock exchange meeting as follows:
       CSE General Index                          87.13 ( 1.06)
       Traded Value            CYP 1,408,340
       Sectural Indices
       Banks                   CYP   445,075     100.44 ( 0.88)
       Approved Investment
       Companies               CYP    55,089      61.33 ( 0.71)
       Insurance Companies     CYP   156,878      64.61 (-0.31)
       Manufacturing Companies CYP    60,967      80.89 ( 2.64)
       Tourism Companies       CYP   144,233      71.76 ( 2.30)
       Trading Companies       CYP   146,531      49.00 ( 1.41)
       Other Companies         CYP   129,829      73.90 ( 1.03)
    The third column presents the percentage variation of the indices as compared to the last meeting.

    CNA MM/1998

    [02] European Socialist delegation to visit Cyprus

    Nicosia, Jun 12 (CNA) -- A delegation from the European Socialist Party's Special Committee for the Enlargement of the European Union is expected to visit Cyprus in the Autumn, to be briefed on the island's preparation course for accession of the European Union.

    The delegation will also submit a report to the presidency of the European Socialist Party.

    The visit was decided today at a Committee meeting, with Cyprus Defence Minister, Yiannakis Omirou, who was also assigned the duty to prepare a comprehensive report to the Committee by October, on the Republic's course for full membership.

    CNA RG/MM/1998

    [03] Revenue reduction from abolition of duties

    Nicosia, Jun 12 (CNA) -- The abolition of duties on produce originating from the European Union will result in a 130 million Cyprus pounds (260 m. US dollars) loss in revenue, Finance Minister Christodoulos Christodoulou said here today.

    This, he explained, amounts to three per cent of the public deficit. The Minister also pointed out that prospects for a rise of revenue from value added tax in 1998 "are good" and added that there will be an increase of seven per cent, from 224 m. in 1997 to 238 m. this year.

    Speaking during a visit to the Department of Customs and Excise, Christodoulou said it stands to lose the 130 m. because of the implementation of the first stage of the customs union agreement Cyprus has with the European Union.

    CNA MM/RG/1997

    [04] House President meets Italian counterpart

    Nicosia, Jun 12 (CNA) -- The President of the Italian Parliament, Louciano Violante, denied allegations in Turkish newspaper "Hurriyet" that Italian MPs officially visited the so-called "parliament" in the Turkish occupied areas of Cyprus.

    Violante reassured Cypriot House President, Spyros Kyprianou, that such visits do not take place.

    The assurances were given during a meeting the two men had in Stockholm, on the sidelines of the Meeting of the Presidents of European Parliaments.

    Violante also responded in writing, on behalf of the Italian Parliament, to the Ambassador of Cyprus in Rome, stressing that the Italian House has not and does not intend to visit officially the illegal regime in Turkish occupied Cyprus.

    Kyprianou expressed gratitude for the steady and continuous support of the Italian Parliament for Cyprus.

    CNA RG/MM/1998

    [05] Russian assurances about missiles delivery to Cyprus

    Brussels, Jun 12 (CNA) -- Russian Defence Minister Igor Sergueiev has assured that the anti-aircraft missiles the Republic of Cyprus bought from his country will be delivered to Cyprus as agreed.

    The Russian Minister gave the assurances to his Greek counterpart Akis Tsohatzopoulos here today on the sidelines of a NATO meeting with former Soviet Union and Central and Eastern European countries.

    Tsohatzopoulos said Sergueiev told him Russia will not, under no circumstances, give in to pressure from anybody about non-delivery of the S- 300 missiles.

    He also said the Russian Minister assured that Moscow will fulfill the terms of the agreement and deliver the missiles to Cyprus.

    The two men also discussed developments in the Cyprus question and efforts towards a negotiated settlement.

    CNA NB/MM/DP/1998
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