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Cyprus News Agency: News in English (PM), 98-09-29

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

From: The Cyprus News Agency at <>


  • [01] Cyprus Stock Exchange
  • [02] Spokesman - Cyprus problem
  • [03] Cyprus - Uzbekistan
  • [04] President - Return - Statements
  • [05] Cyprus Airways Group - Six-month results
  • [06] Foreign Minister - meetings

  • 1515:CYPPRESS:01

    [01] Cyprus Stock Exchange

    Nicosia, Sep 29 (CNA) -- The Cyprus Stock Exchange (CSE) All Share Index closed at today's stock exchange meeting as follows:
       CSE General Index                          86.13 (-0.16)
       Traded Value            CYP 702,578
       Sectural Indices
       Banks                   CYP   405,028    100.83 (-0.26)
       Approved Investment
       Companies               CYP    44,322      59.52 ( 0.51)
       Insurance Companies     CYP    35,190      58.49 (-0.19)
       Manufacturing Companies CYP    77,759      81.86 ( 0.90)
       Tourism Companies       CYP    47,265      69.90 (-1.02)
       Trading Companies       CYP    15,422      40.44 (-0.91)
       Other Companies         CYP    28,391      76.88 (-0.14)
    The third column presents the percentage variation of the indices as compared to the last meeting.

    CNA MM/1998

    [02] Spokesman - Cyprus problem

    London, Sep 29 (CNA) -- The government believes the international community considers a Turkish Cypriot proposal for a Cyprus confederation as negative, Government Spokesman Christos Stylianides has said.

    "A joint statement by the permanent members of the UN Security Council and comments by US officials now indicate that the world community assumes a negative stance towards the unacceptable Turkish position", Stylianides told LGR, on his return to Cyprus from New York, where he accompanied the President for the UN General Assembly.

    The UN members reiterated last week that a political settlement in Cyprus should be in accordance with the Security Council resolutions, which provide for a bicommunal, bizonal federation.

    Referring to President Glafcos Clerides' meetings in New York, Stylianides said it was "an intensive week of meetings" the outcome of which will be assessed by the island's political leadership at a meeting of the National Council.

    The spokesman refrained from commenting on the purchase of Russian anti- aircraft missiles, saying any comments would only serve the purposes of Turkish propaganda on the matter but acknowledged there is some concern about the issue.

    He called on all those who want to help Cyprus to accept the President's proposal for the demilitarisation of the island.

    Commenting on reports about an arms sales agreement between Turkey and Britain (two of Cyprus' guarantor powers), Stylianides said the two countries have a trade accord on defence matters, to which Cyprus does not object.

    "What we are interested in is that Britain backs the UN resolutions and supports Cyprus' right to self-defence and Cyprus' right to move on with its accession course to the European Union", the spokesman added.

    CNA EC/MM/RG/1998

    [03] Cyprus - Uzbekistan

    Nicosia, Sep 29 (CNA) -- Uzbekistan has assured that it will continue supporting Cyprus in the implementation of UN resolutions for Cyprus.

    The assurance was given by President Islam Karimov, during Platon Kyriakides' presentation of his credentials as Cyprus' new ambassador to the country.

    Karimov pledged his country would continue offering its support to Cyprus, adding that Uzbekistan would like closer bilateral relations with Cyprus.

    Presenting his credentials Kyriakides expressed his satisfaction with the high level of relations between the two countries.

    He also thanked Karimov for his country's support for Cyprus' struggle to restore its independence, sovereignty and territorial integrity.

    Earlier Kyriakides, who is based in Moscow, held a private meeting with Karimov, with whom he exchanged views on developing bilateral relations.

    The Cypriot ambassador also had a meeting with deputy Foreign Minister, Shoislamou Shokasin and the board of the country's Chamber of Commerce,

    He also met the board of the Federation of Greek associations of Uzbekistan, discussing ways to develop relations between the two countries and tackling the problems which Greeks face in the country.

    CNA EC/GP/1998

    [04] President - Return - Statements

    Larnaca, Sep 29 (CNA) -- President Glafcos Clerides returned home from a week long visit to New York to address the UN General Assembly, pleased - for the time being - with the position adopted by the permanent members of the UN Security Council on unacceptable Turkish demands for a confederation in Cyprus but disappointed with the non-implementation of relevant UN resolutions.

    The President, who held a series of meetings with UN and US officials, said he will convene a meeting of the National Council, his top advisory body on the handling of the Cyprus question, on 9 October to assess the outcome of the New York contacts.

    He also said the US will continue their efforts to make headway towards a settlement in Cyprus and added he was surprised about press reports that Cyprus and the US may opt for a bilateral agreement leading to a postponement of the arrival of Russian anti-aircraft missiles purchased by Cyprus, to overcome Turkish objections to even discuss the missiles issue.

    The President made it clear that the Russian missiles his government has ordered would not arrive to the island unless peace talks resume and there is progress towards a negotiated settlement.

    Speaking on arrival at Larnaca airport, the President said the UN Secretary-General, Kofi Annan, is "studying some initiatives which he is not yet ready to announce".

    Asked if he had any assurances that the Turkish side will respond to calls for talks on the basis of UN resolutions, he replied: "Without saying that I have assurances, I would say that the position the Turks have adopted (to have talks only for a Cyprus confederation and to gain recognition of the breakaway Turkish Cypriot regime in Turkish occupied areas) will be maintained for quite some time."

    The President pointed out that this was not a new Turkish position and added "when they were saying they were negotiating for a federation, they were negotiating for a confederation because they have always been asking for recognition of the Turkish Cypriot regime".

    "It will depend on the international community whether it will give any cause to create the impression that there can be such a development," the President added, noting that the Foreign Ministers of the permanent members of the UN Security Council have clarified their position on the matter.

    "At present, I am pleased on this issue", he said. Replying to questions, he indicated he was not pleased with the non- implementation of UN resolutions on Cyprus.

    "How long will they (UN) continue to allow one country, not only not to implement their resolutions but also to violate them flagrantly", the President said.

    Outlining his overall assessment of the two primary objectives of his New York visit (to evaluate whether there is ground for a recourse to the UN and assess UN and US efforts on Cyprus), the President said the results of the contacts will be reviewed at a meeting of the National Council on 9 October when decisions will be taken.

    He thanked party leaders or representatives who accompanied him to New York and described their contribution to the contacts there as "productive and excellent".

    Invited to comment on continuing US efforts to rekindle the stalled peace process in Cyprus, Clerides replied "I believe the US continue to make efforts" and referred to a joint statement of Foreign Ministers of the permanent members of the UN Security Council in which they backed "a sustained process of direct negotiations between the two communities" to achieve a comprehensive political settlement "in accordance with the Security Council resolutions".

    The President pointed out that the joint statement was issued after Turkey's Premier and Foreign Minister had tried to convince UN members that the only solution for Cyprus was what they were offering, a Cyprus confederation as proposed by the Turkish Cypriot leader Rauf Denktash.

    Asked to clarify earlier statements that Denktash's return to the negotiating table would facilitate a postponement of the arrival of the missiles, Clerides said "the arrival of the missiles will only be postponed if talks start and if progress is made (towards a negotiated settlement)".

    Commenting on press reports about a possible US-Cyprus accord on the Russian missiles, he said "neither Mr. Richard Holbrooke, Presidential Emissary, nor Mr. Thomas Miller, State Department Cyprus Coordinator, had mentioned anything to me while I was in New York."

    He said he was not aware whether the US are working on any formula. Asked if he expected any developments from this week's visit to New York by Denktash, the President replied "as far as I know he will meet Annan and of course the UN Secretary-General will talk about the resumption of the talks on the basis of the UN resolutions".

    CNA MM/RG/1998

    [05] Cyprus Airways Group - Six-month results

    Nicosia, Sep 29 (CNA) -- The results of the Cyprus Airways Group for the first six months of 1998 are significantly better than those of the same period in 1997, Group Chairman Takis Kyriakides said today.

    Speaking at a press conference, to present the Group's results for period under review, Kyriakides said they were "satisfying", adding they create a climate of optimism for the future.

    Cyprus Airways Group comprises Cyprus Airways, the island's national carrier, Eurocypria, its subsidiary specialising in charter flights, and its duty free shops.

    Referring to the Group's 1998 annual results, Kyriakides predicted "considerable profits" for all of the three companies.

    He said, however, that the Group has to reduce its costs in order to secure operational profits of more than 8 per cent, which is the only way to long-term development.

    Taking into account the results of the Group's two companies, Cyprus Airways and Eurocypria, a loss of 651 thousand Cyprus pounds was recorded in the first six months of 1998, compared with a loss of 4,5 million in the same period last year (one Cyprus pound is trading at two US dollars).

    The Group's revenue increased by 12,0 per cent, reaching 62,7 million pounds, while its operational expenses increased by 4,8 per cent, reaching 63,3 million pounds.

    The total number of passengers carried in the same period by both Cyprus Airways and Eurocypria reached 737 thousand, an increase of 12,2 per cent compared with the first six months of 1997.

    The Group presented a market share of 36,9 per cent, compared with 36,4 per cent in the first half of last year.

    Kyriakides attributed the improved results to the lower increase of expenses compared with that of revenues.

    This development was the result of the partial implementation of the Group's recovery plan "Take Off 2000" and external factors such as the strong British pound, which has boosted tourism from the UK, and cheap fuel.

    Referring to the Group's duty free shops, which form its third company, Kyriakides said sales reached 12,6 million pounds, an increase of 52 per cent.

    Responding to questions, he said state shareholding in the Group will fall from around 80 per cent to less than 70 per cent by March 1999.

    He also pointed out the Group is taking measures which will safeguard its competitiveness in view of global deregulation, adding it is also seeking strategic alliances with European air companies.

    As part of these measures, the Group will not hesitate to "reduce fares where is necessary", adding that it examines jointly with Olympic Airways a cut in fares to and from Athens.

    CNA GG/MM/1998

    [06] Foreign Minister - meetings

    by Myria Antoniadou

    New York, Sep 29 (CNA) -- Foreign Minister Ioannis Kasoulides is continuing his contacts in New York with officials from various countries.

    Today he is due to have lunch with UN Secretary-General's special envoy for Cyprus, Diego Cordovez, who met Monday with US State Department Coordinator for Cyprus, Thomas Miller.

    Britain's special representative for Cyprus and envoy of the European Union Austrian presidency, Sir David Hannay, also in New York, is expected to meet Cordovez and other UN Secretariat officials on Thursday.

    Sir David may also see Kasoulides, before the latter leaves for Washington on Thursday to attend a reception for Cyprus' national day, 1 October, hosted by the Republic's Ambassador to the US, Erato Markoulli.

    CNA MA/MM/RG/1998
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