Cyprus News Agency: News in English (PM), 97-10-08

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From: The Cyprus News Agency at <http://www.cyna.org.cy>

CONTENTS

[01] Cyprus Stock Exchange

[02] Maritime conference ends

1545:CYPPRESS:01

[01] Cyprus Stock Exchange

CSE All Share Index                    76.17 (+0.05)

Highest: 82.46 (2/1/97)
Lowest : 73.90 (30/1/97)

Sectural Indices

Banks                                  87.06 (+0.24)
Approved Investment Companies          62.96 (+0.25)
Insurance Companies                    55.92 (-0.46)
Industrial Companies                   73.68 (-0.24)
Tourist Industries                     64.51 (-0.45)
Commercial Companies                   44.37 (+0.18)
Other Companies                        58.74 (-0.47)

Trading Volume                         CYP 500575.430

ENDS, CYPRUS NEWS AGENCY

1820:CYPPRESS:02

[02] Maritime conference ends

In his closing remarks, chairman of "Maritime Cyprus 1997" conference and Permanent Secretary of the Communications and Works Ministry, Vassos Pyrgos, said the conference was "undoubtedly a most significant source of information."

It provided "feedback and advice on the basis of which to develop, review and adapt our maritime policy and direct our actions," he added.

He said speakers analysed the trends and the problems which are anticipated and are likely to influence the process into the new era of the shipping industry in which "the central element is the human factor."

Pyrgos urged all involved in the shipping industry, maritime administrations, ship-owners, underwriters, port authorities and seamen's organisations "to combine their efforts and aim to a common objective" to overcome the existing serious problems.

"The shortage of qualified seafaring personnel, the diminishing interest of young people for a career at sea, combined with a general lack of welfare facilities and uncertain social benefits result in high labour costs, lower quality, higher morbidity and labour unrest," he said.

The chairman of this biennial conference noted that international instruments have been put in place regulating the training, working and living conditions, the social benefits and the welfare of the seafarers.

"They also regulate the safety management of the ship as well as its internal operations relating to the maintenance of high safety standards," he added.

Pyrgos said "rate differentials provide an economic incentive to ship- owners to maintain their ships in good condition and to take all precautions to avoid accidents."

He said the island's ship registry will "continue to be competitive and maintain its high level standards" and that Cyprus' goal was to improve quality and not the number of its registered ships.

CNA AP/MM/1997

ENDS, CYPRUS NEWS AGENCY

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