Cyprus News Agency: News in English (PM), 98-07-16

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

CONTENTS

[01] Cyprus Stock Exchange

[02] New York Council condemns illegal occupation

[03] Seminar on women in politics

[04] Moves to avert air strike underway

[05] Cyprus - Israel

[06] NATO - No-fly zone over Cyprus

[07] Cyprus Airways - AGM

1500:CYPPRESS:01

[01] Cyprus Stock Exchange

   CSE General Index                          84.82 ( 0.33)

   Traded Value            CYP     938,572

   Sectural Indices

   Banks                   CYP   393,061      99.43 ( 0.50)
   Approved Investment
   Companies               CYP     9,952      58.82 (-0.10)
   Insurance Companies     CYP    85,252      59.35 ( 0.41)
   Manufacturing Companies CYP    39,479      77.70 (-0.77)
   Tourism Companies       CYP    57,369      70.14 ( 0.27)
   Trading Companies       CYP    70,507      43.13 ( 1.51)
   Other Companies         CYP   113,548      71.33 ( 0.00)

CNA MM/1998

ENDS, CYPRUS NEWS AGENCY

1610:CYPPRESS:02

[02] New York Council condemns illegal occupation

This position is outlined in a proclamation handed yesterday by the Speaker of the Council, Peter Vallone to Cyprus' Consul in New York, Pantia Eliades.

Handing the proclamation, Vallone condemned the Turkish invasion and the continued violations of international law in Cyprus by Turkey and expressed the hope that there will soon be a settlement.

Replying, Eliades said that all efforts to find a just, viable and peaceful solution have confronted the intransigence and lack of political will by Turkey.

"Despite our disappointment, we will continue our efforts until justice prevails in Cyprus", Eliades added.

The proclamation notes that in July 1974 Turkey "violated international law when it invaded the sovereign Republic of Cyprus".

It also stresses that over 200 million dollars worth of American equipment has been deployed by the Turkish government in its illegal occupation of Cyprus and the expense of maintaining Turkish troops in Cyprus equals half of America's more than 500 million dollars of annual foreign aid to Turkey.

The Turkish Cypriot leadership, it adds, with the encouragement and backing of the government of Turkey, has refused to respond in a positive manner to the UN Secretary-General, frustrating all efforts for a negotiated settlement.

Furthermore, it notes that the US has "strongly opposed Turkey's continuing occupation of Cyprus which is in contravention of numerous UN resolutions."

Reference is also made to the destruction of historical monuments and places of worship in the Turkish occupied part of Cyprus and the displacement of some 200,000 persons.

CNA EC/MM/1998

ENDS, CYPRUS NEWS AGENCY

1625:CYPPRESS:03

[03] Seminar on women in politics

The three-day event, organised by the Department of Women's Affairs of the Ministry of Justice and Public Order, the British Council and the Commonwealth Secretariat, is entitled "Men and Women together in politics", and is addressed to women who are seeking an active involvement in politics.

A team of British experts will lecture at the seminar, to be attended by around 50 women and men representatives of political parties and various organisations.

The training part of the seminar will be held at the mountain resort of Platres.

Cyprus President Glafcos Clerides has placed the seminar under his aegis and will open the seminar in Nicosia.

The opening will also be addressed by political party leaders, women deputies, the Director of the British Council in Nicosia, Robert Ness, the Director of the Women's Department at the Commonwealth Secretariat and Lesley Abdela, who will chair the British team of experts.

CNA EC/MM/1998

ENDS, CYPRUS NEWS AGENCY

1850:CYPPRESS:04

[04] Moves to avert air strike underway

"Tomorrow we may have a more positive picture of the issue at hand," he told a press conference here today.

Kyriakides said the company stands to lose millions of pounds if the three-day strike, scheduled for 23-26, goes ahead and warned that "the cost to Cyprus and the tourist industry will be a lot higher than any financial cost the company may have to bear."

He pointed out that Cyprus Airways "will not remain idle with its hands tied behind its back as it has a responsibility towards its passengers and tourist agents."

Kyriakides expressed the hope that the strike will be called off and called for an end to this issue "today or tomorrow."

"If the strike goes ahead, we shall have to proceed with air liberalisation," he said, noting that CY is already making arrangements with foreign companies.

The company intends to hire aircraft and foreign pilots to carry passengers scheduled to travel with CY.

He said the pilots have made a "big mistake" in announcing a strike, which he described as "inexcusable and odd", and stressed the need for collective effort to help the national carrier move ahead.

"If we do not operate as a team, the company will not be able to move on and will fail to implement its strategic plan," he said.

"The board is in touch with the government at all times," Kyriakides told the press.

CNA EC/MM/1998

ENDS, CYPRUS NEWS AGENCY

2000:CYPPRESS:05

[05] Cyprus - Israel

His comments come in the wake of press reports in the Turkish Cypriot press that Turkish aircraft have trained in Israel in intercepting and bombing anti-aircraft missiles and that Israel is concerned about Cyprus' increased defence capability.

"Israel does not see Cyprus as a country that causes any kind of problem," Kasoulides said.

He remarked that the official position of the Israeli government is that "the boosting of our defences, with any type of weapons system, neither bothers Israel nor affects our neighbouring country."

Cyprus has ordered the Russian S-300 anti-aircraft missile system to boost its air defences and offer the country a defensive weapons system against any possible fresh Turkish offensive.

CNA RG/MM/EC/1998

ENDS, CYPRUS NEWS AGENCY

2010:CYPPRESS:06

[06] NATO - No-fly zone over Cyprus

Washington, Jul 16 (CNA) -- NATO Secretary-General Xavier Solana said the Alliance is prepared to monitor, if necessary, a no-fly zone over Cyprus.

Solana made the statement when asked by CNA to outline NATO's position on the Russian S-300 anti-aircraft missile system which Cyprus intends to deploy and whether NATO is prepared to play a role in implementing a no-fly zone over Cyprus.

"We do not think the S-300 is a good decision", Solana said, noting that formulas have to be found to make unnecessary the deployment of the system.

He said at this point there are several ideas but he did not want to be specific. "Some are public, some others not public, and belong to the negotiating procedure", the NATO chief said.

Regarding the no-fly zone, Solana said "yes, we will be able to - we are prepared if we can help to - in particular, to monitor, if necessary, a no-fly zone or something in that nature".

He stressed that negotiations are just beginning on the issue but not at NATO but in other fora. "And in that case NATO would be just, if necessary, implementing some of the ideas that may be discussed in other fora, in particular at the UN", he added.

Invited by CNA to comment on the progress in the proposed confidence building measures between Greece and Turkey over the Aegean, Solana said he would like to continue working on the measures which he has been working to construct with both countries.

He said the confidence building measures are in place and described them as "very important", noting that "they work not only for the stability of the region and for the good of the region, but also for NATO".

CNA DA/EC/GP/1998

ENDS, CYPRUS NEWS AGENCY

2035:CYPPRESS:07

[07] Cyprus Airways - AGM

Speaking before the group's annual General Meeting, he said total revenue reached 135,2 m. in 1997 compared with 126,2 m. the year before, registering a 7.1 per cent increase.

Cyprus Airways increased its revenue by 7 per cent in 1997, to 120,9 m. against 113 m. in 1996, but because of rising labour costs operating profits dropped from 7 m. in 1996 to 5,2 m. in 1997.

Kyriakides explained that the company's registered increase in revenue was due to a 5.4 per cent rise in the number of passengers it carried, from 1,226,000 in 1996 to 1,292,000 in 1997.

More passengers have travelled on the routes to and from Greece, the Middle East and the Gulf, Germany, Amsterdam, France, Moscow and Rome.

"The 1997 3.2 m. loss at a time when other airlines are making their biggest profits should put us on the alert and should encourage us to intensify our efforts to improve productivity, increase revenue and reduce costs," he stressed.

Labour costs increased by two m. pounds or 5.3 per cent in 1997 because of pay increases.

Eurocypria, a CY sister company, increased its revenue to 21,7 m. compared with 18,7 m. in 1996, a 16 per cent rise.

Duty Free Shops, a CY associated company, reached 22,4 m. in 1997 compared with 13,2 m. in eight months of operation in 1996.

"Cyprus Airways have to reduce their costs to the level of charter flights and should take seriously into account competition by other companies such as Easyjet," he said.

CNA EC/MM/1998

ENDS, CYPRUS NEWS AGENCY

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