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Cyprus News Agency: News in English (AM), 98-10-27

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

From: The Cyprus News Agency at <>


  • [01] Cyprus - Egypt - Cooperation
  • [02] Interest rates - Liberalisation
  • [03] Child dead - Transplants - UN - Government
  • [04] Mediterranean Agricultural Forum
  • [05] Cyprus Stock Exchange

  • 1200:CYPPRESS:01

    [01] Cyprus - Egypt - Cooperation

    Nicosia, Oct 27 (CNA) -- Cyprus Justice and Public Order Minister Nicos Koshis and Egyptian Ambassador in Nicosia Mohamed Fadel El Kadi exchanged here today the documents for the ratification of the agreement between Cyprus and Egypt for the extradition of fugitives.

    The agreement was signed by Koshis and his Egyptian counterpart Farouk Sayf El - Nasr, during Koshis' recent visit to Egypt.

    The Cypriot minister said the agreement would help the two countries to expand cooperation in this field.

    He added that during his visit to Egypt he also met the Egyptian Interior Minister and that he discussed with him various issues, including organised crime and drug trafficking.

    CNA MK/GP/1998

    [02] Interest rates - Liberalisation

    Nicosia, Oct 27 (CNA) -- A bill liberalising Cyprus' financial system will be tabled in the House of Representatives in about one month, Governor of the Central Bank of Cyprus Afxentis Afxentiou announced today.

    Afxentiou was speaking to the press after a meeting Finance Minister Christodoulos Christodoulou had with former Cyprus President George Vassiliou, President the United Democrats party.

    Vassiliou said the interest rates liberalisation bill, which is part of the island's harmonisation process with the (EU) acquis communautaire, "is necessary and cannot be delayed".

    Referring to the impact of the bill on interest rates, he said they were expected to fall, as this was the trend both in Europe and in the world, adding the bill would help Cyprus become more competitive.

    Christodoulou said he expected interest rates to go down, noting that the government would take measures to allay fears about rates going up when liberalisation takes place.

    Afxentiou said that according to the timetable he had in mind, the liberalisation bill would be tabled at the end of next month or the beginning of December.

    Cyprus along with Estonia, Slovenia, Hungary, Poland and the Czech Republic started accession negotiations with the European Union in March.

    CNA GG/GP/1998

    [03] Child dead - Transplants - UN - Government

    Nicosia, Oct 27 (CNA) -- Three people are given a new chance to live with the tragic death of a three-year-old girl, who was fatally injured in a riding accident as she was celebrating the UN Open Day on Saturday.

    The parents of Vergina Nicolaides, donated their child's organs, after doctors said the girl was clinically dead.

    Last night, Vergina, who was pronounced brain-dead, was taken to the Paraskevaidion Transplant Centre where her kidneys and liver were removed.

    The Centre's director, Dr. George Kyriakides, said the liver was already sent to London's Kings College hospital to be transplanted possibly to a Cypriot patient.

    The kidneys are being transplanted to seven-year-old boy, Nicos Socratous and 49-year-old Christakis Efstathiou, both from Limassol.

    Little Vergina was critically injured on Saturday when the pony she was riding on during UN Open Day celebrations at the Ledra Palace bolted, throwing her to the ground and trampled on her. She was taken to hospital in critical condition and put on life support.

    The Chief of Mission of UNFICYP, Dame Ann Hercus, in a written statement today said "it is with the deepest sorrow that the staff of UNFICYP... have learned of the death" of Vergina.

    She extended UNFICYP's "sincerest sympathy and condolences" to the parents and family of Vergina.

    Government Spokesman, Christos Stylianides, praised the child's parents for their courageous act to donate the little girl's organs.

    Extending the government's deep sorrow and sympathy, Stylianides praised the parents' decision to donate their daughter's organs.

    Vergina will be buried this afternoon.

    CNA EC/GP/1998

    [04] Mediterranean Agricultural Forum

    Nicosia, Oct 27 (CNA) -- The 3rd Mediterranean Agricultural Forum, which met in Nicosia, emphasised the urgent need for a rational and sustainable management of water resources in order to guarantee their renewal.

    The two-day Forum was organised by the Committee on Agriculture and Rural Development of the Parliamentary Assembly of the Council of Europe, in cooperation with the Mediterranean Committee of the International Federation of Agricultural Producers (IFAP) and the International Centre for Advanced Mediterranean Agronomic Studies (ICAMAS).

    The theme of the Forum, held at the invitation of the Cyprus House of Representatives, was the use of water in agriculture.

    According to a final joint statement by the co-chairmen of the Forum, Chairman of the Mediterranean Committee of IFAP Giuseppe Avolio and the Chairman of the Sub-Committee on Food Parliamentary Assembly of the Council of Europe Juhan Telgmaa, the Forum examined the situation of water resources in several Mediterranean countries.

    It also examined the use of water in agriculture and irrigation systems as well as national legislations on this issue, the statement says.

    Participants emphasised "the urgent need for a rational and sustainable management of water resources in order to guarantee their renewal and supply without endangering the sectors depending on them", it adds.

    Referring to water itself, the two co-chairmen of the Forum stress in their statement that it "must absolutely be preserved, considering the foreseeable increasing needs in the near future".

    "The Forum expressed the wish for the introduction in each country of a single water authority which, in cooperation with the World Water Council, could more easily contribute to achieving all the objectives brought up during the debates", the co-chairmen point out.

    They also note that the Forum expressed satisfaction "concerning the participation, for the first time, of parliamentarians from most Mediterranean countries, particularly from non-member countries of the Council of Europe".

    Cyprus is facing water shortages due to extensive droughts in recent years.

    CNA GG/GP/1998

    [05] Cyprus Stock Exchange

    Nicosia, Oct 27 (CNA) -- The Cyprus Stock Exchange (CSE) All Share Index closed at today's stock exchange meeting as follows:
       CSE General Index                          87.39 ( 0.39)
       Traded Value            CYP 1,062,325
       Sectural Indices
       Banks                   CYP   300,679     101.41 ( 0.36)
       Approved Investment
       Companies               CYP    27,971      60.22 ( 0.37)
       Insurance Companies     CYP   315,085      61.48 ( 2.83)
       Manufacturing Companies CYP    23,801      85.60 (-0.23)
       Tourism Companies       CYP    14,879      68.73 (-0.09)
       Trading Companies       CYP    49,794      39.29 (-0.68)
       Other Companies         CYP    48,546      81.71 (-0.48)
    The third column presents the percentage variation of the indices as compared to the last meeting.

    CNA MA/1998
    Cyprus News Agency: News in English Directory - Previous Article - Next Article
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