Cyprus News Agency: News in English (AM), 98-09-25

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

CONTENTS

[01] Security Council - Foreign Ministers - Cyprus problem

[02] Clerides - General Assembly - Secretary-General

[03] Clerides - inauguration of Bank of Cyprus' branch - New York

[04] Cyprus Stock Exchange

1035:CYPPRESS:01

[01] Security Council - Foreign Ministers - Cyprus problem

New York, Sep 25 (CNA) -- The Foreign Ministers of the five permanent members of the Security Council expressed their support to an early resumption of negotiations for a settlement in Cyprus, based on UN resolutions.

In a joint communique issued Thursday after a working lunch with the UN Secretary-General, during which international issues were discussed, the Foreign Ministers call on the two sides to work constructively with the UN and others who support the peace effort in Cyprus.

The communique says "the Ministers reaffirmed that the status quo in Cyprus is unacceptable and reminded the parties involved of the need to achieve a comprehensive political settlement in accordance with the Security Council resolutions".

They also supported "an early resumption of a sustained process of direct negotiations between the two communities with full commitment to securing such a settlement and to cooperate actively and constructively with the Secretary-General and his special adviser on Cyprus, and others, in support of the UN efforts to that end".

The five Foreign Ministers called on all parties concerned "to create a climate of reconciliation and genuine mutual confidence on both sides, and to avoid any actions which might increase tension".

CNA MA/GG/MCH/1998

ENDS, CYPRUS NEWS AGENCY

1040:CYPPRESS:02

[02] Clerides - General Assembly - Secretary-General

New York, Sep 25 (CNA) -- President Glafcos Clerides will today address the 53rd session of UN General Assembly and is expected to call on the Turkish side to return to the negotiating table to find a settlement in Cyprus, based on UN resolutions.

Before his address, Clerides will have a courtesy meeting with the General assembly President, Uruguay Foreign Minister Didier Opertti and immediately after he will meet Armenian President Robert Kocharian.

President Clerides will also meet UN Secretary-General Kofi Annan, who is expected to clarify what he intends to do in the Cyprus peace process.

The two men had met recently in South Africa on the sidelines of the Non-Aligned Movement summit, where Annan told the President he intended to pursue the Cyprus problem and UN efforts to reduce tension in New York.

President Clerides will also hold a press conference at the UN headquarters.

CNA MA/GG/MCH/1998

ENDS, CYPRUS NEWS AGENCY

1120:CYPPRESS:03

[03] Clerides - inauguration of Bank of Cyprus' branch - New York

Praising the "enviable progress" and "dynamism" of the Bank of Cyprus, Clerides remarked that it "has contributed significantly to the rapid development of the Cyprus economy".

He said with the further internationalisation of its activities, the Bank has shown it has perceived and understood in good time the signs of the times, "which are characterised mainly by the liberalisation of trade and capital transactions and the continuously increasing competition."

Clerides said the government policy on the expansion of activities of Cypriot enterprises abroad has changed to adapt to present-day realities.

"The government is promoting a specific plan of action for upgrading the role of Cyprus as an international centre for high quality services," he said, adding that the expansion of Cypriot businesses' activities abroad will also be encouraged.

He expressed the confidence that "many benefits will be derived from this new approach, both economic and political".

CNA MCH/GG/1998

ENDS, CYPRUS NEWS AGENCY

1500:CYPPRESS:04

[04] Cyprus Stock Exchange

   CSE General Index                          86.70 ( 0.07)

   Traded Value            CYP 1,290,719

   Sectural Indices

   Banks                   CYP   685,813    102.27  ( 0.09)
   Approved Investment
   Companies               CYP    18,183      58.90 (-0.24)
   Insurance Companies     CYP   222,864      58.24 ( 0.50)
   Manufacturing Companies CYP    24,389      81.25 (-0.02)
   Tourism Companies       CYP    49,973      69.54 (-0.23)
   Trading Companies       CYP    27,451      39.90 (-0.03)
   Other Companies         CYP   166,594      76.59 ( 0.07)

CNA EC/1998

ENDS, CYPRUS NEWS AGENCY

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