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Cyprus News Agency: News in English (PM), 99-01-26

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

From: The Cyprus News Agency at <>


  • [01] Chartered flights - New licence
  • [02] Kasoulides - Britain - EE
  • [03] Cyprus Stock Exchange
  • [04] Finance Minister - Industrialists - Service sector
  • [05] Institute for Eurodemocracy - International Conference

  • 1535:CYPPRESS:01

    [01] Chartered flights - New licence

    Nicosia, Jan 26 (CNA) -- One of the island's major companies in the tourist business has obtained an initial permission to begin chartered flights to the Republic in the new millennium.

    "Capital L Airlines", a subsidiary of Louis Tours, is expected to begin chartered flights as from January 1st 2000 if it satisfies the Air Traffic Licensing Authority regulations.

    Permanent Secretary at the Communications and Works Ministry Vasos Pyrgos told CNA today that according to the law the licence will be issued for a year and if Authority is satisfied with the company's performance it will thereon renew its license every five years.

    Pyrgos said about 42 European companies and an equal number from Russia and former Soviet Union countries have permission to carry out chartered flights to Cyprus.

    According to Louis Tours spokesman George Michaelides the chartered company will rent three 170-passenger aircraft.

    He told CNA that "a company operated by Cypriots will be to the benefit of the island's tourism as it will handle any problems differently to foreigners."

    Until today the only Cypriot company that carries out chartered flights to the island is Eurocypria, a subsidiary of the national carrier Cyprus Airways.

    Speaking to CNA, Cyprus Airways press spokesman Tasos Angeli expressed concern with the new licence given and said the company had asked the government not to further liberalise air transport until the Republic joins the European Union.

    Cyprus opened substantive talks with the EU in 1998 and is expected to join the Union during the first phase of enlargement.

    "Cyprus Airways and Eurocypria will have to compete with the new company," Angeli noted.

    Pyrgos said it is natural for Cyprus Airways to be concerned, but pointed out it already has to compete with the 84 foreign companies that carry out chartered flights to Cyprus.

    CNA MA/GP/1999

    [02] Kasoulides - Britain - EE

    Nicosia, Jan 26 (CNA) -- Foreign Minister Ioannis Kasoulides has said the government expects Britain to make the next move, in the aftermath of comments by British envoy for Cyprus Sir David Hannay which caused a storm of protest and prompted President Glafcos Clerides to send a letter of complaint to High Commissioner David Madden.

    "We would prefer a more clear stand on the part of Britain on two counts. I think it needs to be repeated that the Cyprus problem must be solved on the basis of UN resolution and the bicommunal, bizonal federation, " Kasoulides said, after a meeting at the Presidential Palace.

    He pointed out that it must be repeated that the parties in Cyprus are obliged to comply with the latest UN Security Council resolutions.

    President Clerides took great offence over Hannay's insinuation that he was making manoeuvres to get something in return from Turkey with his decision not to deploy anti-aircraft missiles in Cyprus, in compliance with UN resolutions calling for a reduction in tension and progress towards a negotiated settlement.

    The British envoy also referred to the Swiss Confederation, saying that labels do not matter, at a time when the Turkish Cypriot side insists on two separate states under a confederal umbrella while the UN resolutions provide for a bicommunal, bizonal federal Cyprus with a single sovereignty and single citizenship.

    "The President acted wisely and his move was approved by the political leadership because what counts is the impressions that are created in public opinion, which we must take into account," Kasoulides told the press.

    Commenting on Hannay's statement about the Swiss Confederation, Kasoulides explained the President has expressed his opposition to three issues relating to the Swiss Confederation, namely confederation, rotating presidency and equal representation.

    "The President believes that if the Turkish Cypriot leader Rauf Denktash wishes to implement in full the Swiss model, let it be implemented in its totality. Denktash rejected such a suggestion," the Minister noted.

    Meanwhile replying to a question on Cyprus' process of accession to the European Union, Kasoulides expressed the view that technical problems arising as result of Turkish occupation of the northern part of the island should not reduced to political issues.

    Distinguishing between technical difficulties and political will for accession negotiations, Kasoulides stressed that "there is political will on the part of Europe for the process to proceed".

    CNA RM/MM/MCH/1999

    [03] Cyprus Stock Exchange

    Nicosia, Jan 26 (CNA) -- The Cyprus Stock Exchange (CSE) All Share Index closed at today's stock exchange meeting as follows:
          CSE General Index                         102.05 ( 2.15)
          Traded Value            CYP 5,737,092
          Sectural Indices
          Banks                   CYP 2,338,820     117.66 ( 1.28)
          Approved Investment
          Companies               CYP   216,100      62.46 ( 1.40)
          Insurance Companies     CYP   745,706      81.84 ( 5.00)
          Manufacturing Companies CYP   537,019      98.31 ( 4.95)
          Tourism Companies       CYP   414,495      80.45 ( 3.63)
          Trading Companies       CYP   317,976      46.47 ( 0.61)
          Other Companies         CYP   476,080      88.44 ( 0.59)
    The third column presents the percentage variation of the indices as compared to the last meeting.
    CNA MCH/1999

    [04] Finance Minister - Industrialists - Service sector

    Nicosia, Jan 26 (CNA) -- Minister of Finance Christodoulos Christodoulou today briefed industrialists on the government's plans to turn Cyprus into a service hub.

    Speaking to the press after a meeting with the leadership of the Organisation of Employers and Industrialists (OEV) Christodoulou said he briefed them on the plans to turn Cyprus into a centre of higher education, medicine and software.

    OEV is Cyprus' second largest employers' organisation. Stressing the importance of the service sector to the island's economy, he noted he presented to OEV a plan recently approved by the Cabinet which aims to turn the island into a higher education centre.

    He explained that the plan, which includes a number of incentives, "will focus on higher education of the private sector".

    Christodoulou said he briefed OEV's leaders also on the Cabinet's decision to turn the island into a centre of software and medicine, particularly heart surgery.

    The contribution of the service sector to the island's economy is around 70 per cent.

    Referring to the island's economy, he said last year macroeconomic indicators with the exception of fiscal deficit were satisfying, with a growth rate of 5,0 per cent and inflation at 2,2 per cent.

    Referring to 1999, Christodoulou said "prospects are good", provided no unforeseen developments intervene.

    On his part OEV Chairman Andreas Pittas expressed satisfaction with the government's plans to support Cyprus' service sector.

    He announced that the government will contribute 250 thousand Cyprus pounds to OEV's promotion of the island's industrial goods through advertising (one Cyprus pound is trading at 2,0 US dollars).

    Cyprus along with Estonia, Hungary, Slovenia, Poland and the Czech Republic started substantive accession negotiations in November 1998.

    CNA GG/MCH/1999

    [05] Institute for Eurodemocracy - International Conference

    Nicosia, Jan 26 (CNA) -- A two-day international conference on privatisation starts Thursday in Nicosia with the participation of speakers from top European and American institutes.

    The international conference "Privatisation of Public Enterprises: The Prospects Ahead" is coorganised by the Nicosia-based Institute for Eurodemocracy and the Constantine Karamanlis Institute for Democracy of Greece.

    The conference will focus on the adaptation of the public sector to recent developments in the world and the definition of its new role.

    The list of speakers includes members of top European and American institutes such as the CATO Institute, The Heritage Foundation, the Institute of International Relations, the American Enterprise Institute and the National Centre for Policy Analysis.

    It also includes eminent politicians and economists from Cyprus and Greece such as the President of the Republic Glafcos Clerides, the Greek opposition leader Costas Karamanlis, Democratic Rally (DISY) President Nicos Anastasiades and the Head of the Delegation of the European Commission in Cyprus, Ambassador Donato Chiarini.

    CNA GG/MCH/1999
    Cyprus News Agency: News in English Directory - Previous Article - Next Article
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