Cyprus News Agency: News in English (PM), 98-10-19

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

CONTENTS

[01] Cyprus Stock Exchange

[02] Spokesman - Holbrooke - Cyprus question

[03] Finance Minister - 1999 �udgets

[04] Turks - Greek Cypriot - release

[05] Women - Balkans - Covnention

[06] Minister of Trade - EU

[07] Denktash - UK - Cyprus

1450:CYPPRESS:01

[01] Cyprus Stock Exchange

   CSE General Index                          85.75 ( 0.21)

   Traded Value            CYP 1,596,407

   Sectural Indices

   Banks                   CYP   487,846      98.90 (-0.23)
   Approved Investment
   Companies               CYP   241,580      59.12 ( 0.90)
   Insurance Companies     CYP   142,524      58.75 ( 1.31)
   Manufacturing Companies CYP   103,401      86.63 ( 1.19)
   Tourism Companies       CYP    39,462      69.18 ( 0.19)
   Trading Companies       CYP    36,275      39.03 ( 1.04)
   Other Companies         CYP   478,618      80.98 ( 0.87)

CNA MM/1998

ENDS, CYPRUS NEWS AGENCY

1500:CYPPRESS:02

[02] Spokesman - Holbrooke - Cyprus question

"It appears that the US are apportioning blame on Turkish Cypriot leader Rauf Denktash for the deadlock in efforts to settle the Cyprus question," Stylianides said in response to comments by top US envoy for Cyprus, Richard Holbrooke.

Holbrooke is reported to have said that he does not believe that there is any chance of making progress in the Cyprus problem at this stage because the Turkish side has no intention of changing its positions.

In an interview Sunday with the Athens paper "To Vima", the US Presidential Emissary also explained that he interrupted his mediating effort in May because of this position adopted by the Turkish side but added that he would continue to be in touch with the leaders of the Greek and Turkish Cypriot communities.

"Holbrooke's comments are correct and they touch the core of the issue, " Stylianides said.

However, he added, "we would like the world community and specifically the US to exert more pressure to bring about a shift in the intransigent position of the Turkish side, which the US considers as an obstacle to a comprehensive settlement in Cyprus."

Holbrooke told a press conference in Nicosia in May that the Turkish Cypriot side had set out two conditions precedent to a negotiation.

These, he said, related to recognition of the self-styled Turkish Cypriot regime in Turkish-occupied Cyprus and the withdrawal of Cyprus' application for accession to the European Union.

Turkish troops have been occupying 37 per cent of Cyprus territory since 1974, in violation of repeated UN resolutions calling for their withdrawal.

CNA MA/MM/GP/1998

ENDS, CYPRUS NEWS AGENCY

1740:CYPPRESS:03

[03] Finance Minister - 1999 �udgets

Christodoulou, who was presenting the 1999 state budgets to the House Finance Committee, said if unpredictable negative developments do not intervene, the growth rate of the economy next year will reach 4,0 per cent.

He described the 4,0 per cent growth rate as "particularly important" as the European Union (EU) average will range between 2,0 and 2,5 per cent.

Both unemployment and inflation rates will be around 3,0 per cent, while the fiscal deficit will increase to 6,3 per cent of Gross Domestic Product (GDP), leading to a public debt of 61,7 per cent of GDP.

In order to deal with a higher fiscal deficit, public revenue must increase through adjustments in VAT and other indirect taxation, Christodoulou added.

Total revenue for the three 1999 state budgets, the Ordinary Budget, the Development Budget and the Relief Fund for Displaced and Afflicted Persons, reach 1106,7 million Cyprus pounds while expenditure is 1695,8 million pounds (one Cyprus pound is trading at 2,0 US dollars).

He said the 1999 state budgets are in line with the 1999-2003 government's Strategic Plan, which is of great importance in view of Cyprus' EU accession course.

Describing the budgets' main goals, he said they are to support the island's harmonisation process and restructure all of the economy's sectors.

The budgets also aim at modernising and technologically upgrading the island's businesses, he added.

Special effort has been made towards curbing public consumption including civil servants' wages, he added.

Cyprus along with the Czech Republic, Estonia, Slovenia, Hungary and Poland started accession negotiations with the EU in March.

CNA GG/MM/1998

ENDS, CYPRUS NEWS AGENCY

1755:CYPPRESS:04

[04] Turks - Greek Cypriot - release

Kyriakos Soteriou, 32, a refugee from the Turkish occupied town of Famagusta, on the east, and now a Larnaca resident, was apprehended last Saturday in the Turkish occupied areas when he strayed into the occupied part of the island in his car.

Police told CNA that Soteriou was set free after paying the amount of 351 Cyprus pounds (one Cyprus pound is about two US dollars). His car is expected to be given back to him within the next couple of days.

UN spokesman Waldemar Rokoszewski told CNA that "everything has been arranged smoothly".

He also said that Soteriou was handed over to the authorities of the Republic of Cyprus by the UN "and normal procedure was applied with medical assistance being granted".

Replying to questions, Rokoszewski said as far as he knew Soteriou was not abused while in detention.

"He is fine, he is OK," he said.

CNA MK/MM/1998

ENDS, CYPRUS NEWS AGENCY

1920:CYPPRESS:05

[05] Women - Balkans - Covnention

"This is one of the largest conferences in the Balkan region and we expect it to contribute a great deal towards the promotion of women in relation to the environment," Lia Georgiades, chairperson of the local women's association "Protoporia" said at a press conference here today.

She said the topic of the meeting is part of an effort to promote women's participation in decision-making centres and added "we stand to benefit a lot from this meeting if we make use of what we hear from our eminent delegates."

Georgiades backed the idea of setting up a regional information centre on environmental issues, which would send the message that Cyprus is indeed a decision-making centre in the Eastern Mediterranean in environmental matters.

The convention, organised by the UNESCO Centre for Women and Peace in the Balkans, the Women's Balkan Union of Cooperation and Protoporia, will discuss priority environmental issues in the Balkans, the role of non- governmental women's associations in the protection of the environment and hold round table discussions on health and the environment.

The UNESCO Centre was inaugurated in May 1994 in Greece and promotes programmes of cooperation in the fields of education, culture, health, international cooperation and understanding, economic development and the environment.

CNA MM/GG/1998

ENDS, CYPRUS NEWS AGENCY

2025:CYPPRESS:06

[06] Minister of Trade - EU

Rolandis was speaking at the "Trade, Enlargement and the Multilateral System" Conference in Brussels which is organised by the European Union (EU).

Ministers from all EU candidate-states participate in the Conference which to be addressed by Vice-President of the European Commission Sir Leon Brittan and EU Commissioner responsible for external relations Hans Van den Broek.

Cyprus along with Slovenia, Estonia, Hungary, Poland and the Czech Republic started accession negotiations with the EU in March.

The Conference will focus on the existing world trade system, the multilateral system and will prepare the ground for the launch of the new comprehensive World Trade Organisation (WTO) round of negotiations.

Referring to the political impact of trade, Rolandis said it "has a vital part to play in building peace as it helps to break down barriers not just between economies, but also between peoples".

"The elimination of barriers creates interdependence and mutual prosperity", he noted, adding the most striking example is the EU "where historic enemies have been transformed into partners".

Stressing that Cyprus has benefited substantially from trade, he said "we have fulfilled our WTO commitments" and "we are committed to further liberalisation initiatives as we strongly believe that economic growth can only be sustained by continual reforms".

Referring to the world economic crisis, Rolandis said: "We agree with the EU that the way out of such a crisis requires the stimulation and expansion of trade and growth and the adoption of decisive steps to reduce the risk of protectionism".

Rolandis called for support for the mechanism of "dispute settlement understanding" which "resolves a wide range of disputes" between WTO member- states.

He also called for special attention to developing countries as, due to tougher competition, "the benefits of liberalisation are not evenly spread".

CNA GG/MM/1998

ENDS, CYPRUS NEWS AGENCY

2110:CYPPRESS:07

[07] Denktash - UK - Cyprus

This position was outlined to CNA today in response to a question whether Denktash may find himself in a similar position to that of the Chilean dictator Augusto Pinochet for crimes against Greek Cypriots, if Denktash visits Britain, with whom Cyprus has an extradition treaty.

"Naturally, whether he will be actually extradited or not will depend upon the contents of the official documents that will be supplied by the Cyprus government in such an event," the spokeswoman said.

And she added "I should explain that this would apply to any other country with which the Cyprus government has an extradition treaty".

The spokeswoman was commenting on a report in the British daily "The Times" today that if Britain granted a similar extradition request in future, Denktash and other leaders would be advised to stay away.

Greek Cypriots who hold Denktash responsible for the death of Greek Cypriots during the 1974 Turkish invasion of Cyprus could apply for the extradition of the Turkish Cypriot leader, the report added.

CNA KT/MM/GG/1998

ENDS, CYPRUS NEWS AGENCY

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