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Cyprus News Agency: News in English (PM), 98-09-14

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

From: The Cyprus News Agency at <>


  • [01] Kyprianou - Arab ambassadors
  • [02] Cyprus Stock Exchange
  • [03] Stock Exchange - Annual Report
  • [04] Interior Minister - Athens - Bonn
  • [05] House President - Primakov
  • [06] Stolen icon returned - Greek ministers

  • 1450:CYPPRESS:01

    [01] Kyprianou - Arab ambassadors

    Nicosia, Sep 14 (CNA) -- Arab diplomats have expressed concern about the military alliance between Israel and Turkey.

    Egyptian Ambassador to Cyprus, Mohamed Fadel Al-Kadi, expressed the Arab diplomats' opposition to such an alliance, after a meeting today of the Arab ambassadors accredited to Cyprus with the island's House of Representatives President, Spyros Kyprianou.

    Invited to comment on the Israeli-Turkish military alliance, Al-Kadi said "I don't think the area needs such alliances in the time being here when we are looking for a peaceful solution for all the problems of the area".

    The Egyptian ambassador said "we cannot deny that we are worried about it".

    Referring to the delegation's meeting with Kyprianou, Al-Kadi said "a very good explanation for the recent developments in Cyprus and the Middle East" took place.

    On his part, the House President said that during the meeting, special emphasis was given on the Israeli-Turkish alliance, as well as the possible repercussions it might have on Cyprus.

    CNA KN/EC/GP/1998

    [02] Cyprus Stock Exchange

    Nicosia, Sep 14 (CNA) -- The Cyprus Stock Exchange (CSE) All Share Index closed at today's stock exchange meeting as follows:
       CSE General Index                          87.76 (-0.49)
       Traded Value            CYP 1,141,702
       Sectural Indices
       Banks                   CYP   675,808     103.26 (-0.71)
       Approved Investment
       Companies               CYP    22,365      58.08 (-0.60)
       Insurance Companies     CYP    45,917      58.73 ( 0.26)
       Manufacturing Companies CYP    40,389      83.43 (-0.80)
       Tourism Companies       CYP   102,718      72.17 ( 0.35)
       Trading Companies       CYP    23,965      40.84 ( 0.42)
       Other Companies         CYP   145,160      76.52 ( 0.34)
    The third column presents the percentage variation of the indices as compared to the last meeting.

    CNA MM/1998

    [03] Stock Exchange - Annual Report

    Nicosia, Sep 14 (CNA) -- The Cyprus Stock Exchange (CSE) has shown an increasing activity in many sectors in its first two years of its operation but it would be unrealistic to expect miracles because of the small size of the Cypriot economy, CSE Chairman Dinos Papadopoulos said here today.

    Presenting the annual report for 1997, he said the volume of transactions surpassed 170 million pounds and the average daily volume was around 700.000 compared with 670.000 the year before (one Cyprus pound is about two US dollars).

    "The Cyprus Stock Exchange saw intense activity in 1997 and achieved its initial goals as planned. We are now moving on to fully computerise the Stock Exchange, hopefully by the end of September, and attract new companies, local and foreign, as well as foreign investors," the chairman told a press conference.

    However, Papadopoulos pointed out that "we must accept that the size of the Cypriot market is small and we must not expect miracles".

    The local Exchange cannot be expected to become comparable to the Athens or the London Exchange because the economies of these countries are far bigger.

    Referring to tax incentives offered to trading companies, Papadopoulos said newcomers have reduced tax rates, offshore companies can invest in the Stock Exchange without losing their offshore status and any profit they make through the Exchange is not taxable.

    Commenting on developments in 1998, he said the general price index shows a 14 per cent increase since the beginning of the year with an average daily volume of transactions of about 1.330.000 pounds.

    CNA AA/MM/RG/1998

    [04] Interior Minister - Athens - Bonn

    Nicosia, Sep 14 (CNA) -- Interior Minister Dinos Michaelides left today for talks in Athens with his Greek counterpart Alecos Papadopoulos on a range of issues, including European Union matters and local administration.

    Michaelides will also have talks with Demetris Reppas, Government Spokesman and Press and Media Minister.

    From Athens, Michaelides will go to Bonn to attend a meeting of EU interior ministers with those of candidate countries to discuss passport control within the Union itself and the adoption of a common policy on the control of the external boundaries.

    While in Bonn, Michaelides will meet his German counterpart Manfred Kanther and visit Frankfurt airport for an on the spot briefing on procedures.

    CNA MM/RG/1998

    [05] House President - Primakov

    Nicosia, Sep 14 (CNA) -- Cyprus can expect to have Russia's continuous support and solidarity in the future as it has enjoyed in the past, House President Spyros Kyprianou has said in a congratulatory message to Yevgeny Primakov, new Russian Premier.

    Kyprianou notes that Russia has shown in practice its adherence to the UN Charter, the UN decisions and the principles of international law.

    "I firmly believe that the Republic of Cyprus can continue to rely on the solidarity, the consistent and firm support of Russia," Kyprianou said in his message.

    Conveying his warm and sincere congratulations, the House President said people in Cyprus watched with anxiety and keen interest recent developments in Russia and wished that the country will overcome these serious problems.

    Kyprianou expressed the conviction that Primakov's indisputable integrity will contribute decisively to creating those conditions that would guarantee political stability, economic recovery and social coherence.

    CNA MM/RG/1998

    [06] Stolen icon returned - Greek ministers

    Nicosia, Sep 14 (CNA) -- Politicians, clergy and hundreds of people gathered here in a ceremony where they welcomed the return of an icon, stolen from a church in the Turkish occupied areas of Cyprus.

    The icon was returned to the Orthodox Church by the Greek Culture Minister, Evangelos Venizelos and Foreign Under-Secretary, Yiannos Kranidiotis.

    The icon, depicting Virgin Mary, was stolen from the 12th century church of Antifonitis in Agios Ambrosios village in the Turkish occupied Kyrenia district.

    It was sold by Turks in the international black market and was bought by a Greek selector. The icon remained in the Byzantine Museum of Athens and was repatriated this afternoon by the Greek government.

    Speaking at the ceremony, the Primate of the Orthodox Church in Cyprus, Archbishop Chrysostomos, said the return of the "august icon strengthens our faith and expectation that soon we shall take back our occupied holy churches".

    The Archbishop reiterated the hope that the Turkish occupied areas will be freed, and that the "human rights of Greek Cypriots and Turkish Cypriots will be restored". Greek Culture Minister, Venizelos, said Cyprus is a "cradle of culture", noting that the return of the icon was an immensely symbolic gesture.

    Venizelos said that what takes place in Cyprus since 1974 is the "rape of international law and the rape of cultural heritage".

    On his part, Kranidiotis said today's ceremony marks "the reassurance that Hellenism is fighting to restore" the island's cultural heritage.

    "Among the victims of the Turkish invasion are Cyprus' antiquities", Kranidiotis added and said that in its efforts to save its cultural heritage, Cyprus will always have the support of Greece.

    Earlier today, the Cyprus government, through its Spokesman, Christos Stylianides, thanked the Greek government for the return of the icon.

    "We hope that its stay in Nicosia will be brief and that it will end up where it belongs, the church of Antifonitis", Stylianides added.

    The Church of Cyprus has fought a long and hard legal battle in the past years to successfully regain stolen mosaics and icons.

    A number of art treasures from Cyprus were last year retrieved in Munich.

    In November, a Turkish national in Germany was arrested after 14 cases of pillaged works, plundered from the church of Antifonitis and the Panagia Kanakaria church in the Karpass peninsula were found in his apartment. All treasures were returned to Cyprus.

    CNA DG/EC/MM/1998
    Cyprus News Agency: News in English Directory - Previous Article - Next Article
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