Cyprus News Agency: News in English (PM), 98-01-09

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

CONTENTS

[01] Bank of Cyprus in London Stock Exchange

[02] Cyprus Stock Exchange

[03] Ceremony for building of Russian church

[04] President Clinton outlines US interest in Cyprus settlement

[05] UNFICYP not allowed to visit Greek national apprehended

1440:CYPPRESS:01

[01] Bank of Cyprus in London Stock Exchange

Speaking at a press conference, Triantafyllides said the Croup decided to proceed with the London Stock Exchange listing through "Salomon Smith Barney", the internationally famous House.

The listing will be in the form of Global Depositary Receipts (GDRs) while 15 per cent of the Bank's issued shares could be traded, he noted.

Triantafyllides pointed out that this is the first time a Cypriot company is being listed in a foreign stock exchange.

Referring to the impact of the listing on the share's price, he said an increase is expected, as a new market for the share is emerging.

On the other hand, demand for the Bank's share in Cyprus itself, would be strengthened, he added.

Triantafyllides pointed out that the London Stock Exchange listing is part of the Bank's vision "to become an international bank".

The Group Chairman also announced the Bank's new make-up, which is expected "to lead the Group in the 21st century more effectively."

CNA GG/GP/1998

ENDS, CYPRUS NEWS AGENCY

1530:CYPPRESS:02

[02] Cyprus Stock Exchange

CSE All Share Index                    77.11 (+1.19)

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

Sectural Indices

Banks                                  88.61 (+1.90)
Approved Investment Companies          59.22 (+1.40)
Insurance Companies                    56.82 (-0.40)
Industrial Companies                   75.17 (-0.09)
Tourist Industries                     61.67 (+0.49)
Commercial Companies                   39.77 (-0.77)
Other Companies                        65.75 (+0.18)

Trading Volume                         CYP 894261.980

CNA MCH/1998

ENDS, CYPRUS NEWS AGENCY

1610:CYPPRESS:03

[03] Ceremony for building of Russian church

Education and Culture Minister, George Hadjinicolaou, Russian Ambassador to Cyprus, Gerogi Muratov, Limassol Metropolitan Bishop Chrysanthos, and Archbishop of Moscow, Sergius, attended the ceremony.

The land where the church, dedicated to St Nicholas, will be constructed, was donated to the Russian Orthodox Church by the Orthodox Church of Cyprus.

Speaking at the ceremony Muratov said the building of the church symbolises the friendship between the people of Russia and Cyprus and described it as an historic event since this is the first Russian church to be build on the island.

The Russian Ambassador also pointed to the hospitality and friendship shown by the people of Cyprus to his compatriots living here.

CNA CS/RM/MCH/1998

ENDS, CYPRUS NEWS AGENCY

1730:CYPPRESS:04

[04] President Clinton outlines US interest in Cyprus settlement

In his bi-monthly report on Cyprus to Congress, President Clinton notes US opposition to threats by the Turkish side to attack the missiles if they are deployed.

The report covers the period August - September 1997 and mainly outlines meetings American officials had with the two sides in Cyprus as well as Greece and Turkey.

It makes note to the second round of direct talks between President Glafcos Clerides and Turkish Cypriot leader Rauf Denktash, in Switzerland, a trip to the region by US Special Cyprus Coordinator Thomas Miller and US success in convening direct talks between the two leaders on security issues.

Secretary of State, Madeleine Albright, had announced the agreement during a stop over in Cyprus in September. After a meeting between President Clerides and Denktash, the two leaders decided to discuss the issue during separate meetings with the UN resident representative in Cyprus.

On the negotiations held in August, which followed talks in the US the previous month, President Clinton points to a statement made by the UN Security Council President.

Sir John Weston praised President Clerides for his "flexibility and cooperation" while expressing "some concern and disappointment" over the conditions brought to the table by the Turkish Cypriots.

Regarding US concern over the S-300, Clinton mentions four different occasions during which US officials had discussed the issue, as well as the Turkish threats, during meetings with both sides in Cyprus, and also Greece and Turkey.

Referring to a meeting between Albright and her Cypriot counterpart, in the US, Clinton says she "emphasized the US commitment to the settlement process and encouraged the Greek Cypriot leadership to demonstrate flexibility".

"The Secretary reiterated concern about the Cyprus government's plans to purchase S-300 missiles from Russia and discussed Cyprus' prospects for accession to the European Union (EU)". EU accession talks with the Cyprus Republic are scheduled to begin in spring this year.

The US President also says US officials had "pressed for an extension of the moratorium on overflights of Cyprus by Greek and Turkish combat aircraft".

He notes an agreement between Denktash and Turkish Foreign Minister, Ismael Cem, to advance partial integration to Turkey of the areas occupied since it invaded the island in 1974.

The American President also notes US support to a bicommunal event held here in September and the fact that the two sides undertook the implementation of an agreement they reached in July to exchange information on missing persons in Cyprus.

CNA MA/MCH/1998

ENDS, CYPRUS NEWS AGENCY

1920:CYPPRESS:05

[05] UNFICYP not allowed to visit Greek national apprehended

UN Spokesman, Waldemar Rokoszewski, told CNA George Kantarakis, from the island of Santorini, "is still in the hands of the military" and has not been passed over to the illegal Turkish Cypriot police.

"Despite all our efforts all day long, we were not able to see him, talk to him and secure our doctor's attention," he said.

Rokoszewski added UNFICYP will make another attempt early tomorrow.

Kantarakis, 32, was visiting the island as a guest of a Greek Cypriot.

Replying to questions, Rokoszewski admitted UNFICYP concern with the recent increase in the number of people who have strayed into the occupied areas and have been apprehended.

Only 19 days ago another Greek national, Spyros Lilles, was apprehended by Turkish troops, when he accidentally entered the occupied areas after a drinking spree with his friends.

"We are very much concerned, but the first question is what were these people doing in the buffer zone and why they were crossing," he said.

Rokoszewski added that "the recent frequency is a matter of concern of ours. It should be a matter of concern to the Cyprus Police and the National Guard."

He pointed out that the area through which Kandarakis crossed into the Turkish-occupied territories, in the northeastern outskirts of Nicosia, is a "forward military position of the National Guard".

Therefore, he noted, there should be constant surveillance.

Asked if UNFICYP personnel had seen these men entering the UN- controlled buffer zone, Rokoszewski said they had seen Lilles but were "not able to stop him".

The UNFICYP Spokesman warned that such incidents "may lead to an unnecessary and regretful tragedy."

An illegal court in the occupied areas has ordered Lilles detention until January 13.

Rokoszewski said UNFICYP personnel saw him today and he is well.

Meanwhile, according to Reuters an illegal military court in the Turkish-occupied areas remanded Kandarakis in custody for three days.

CNA MA/MCH/1998

ENDS, CYPRUS NEWS AGENCY

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