Cyprus News Agency: News in English (PM), 99-03-03

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

CONTENTS

[01] Cyprus Stock Exchange

[02] Cyprus Women - Anti-occupation activities

[03] Minister - AGM Offshore Association

[04] Foreign Minister - Turkey - Cyprus

1545:CYPPRESS:01

[01] Cyprus Stock Exchange

      CSE General Index                         119.06  (-1.03)

      Traded Value            CYP 5,142,824

      Sectural Indices

      Banks                   CYP 2,096,710     146.88 (-0.92)
      Approved Investment
      Companies               CYP   265,789      74.16 (-1.79)
      Insurance Companies     CYP   251,923      78.16 (-0.12)
      Manufacturing Companies CYP   397,721     106.48 (-1.55)
      Tourism Companies       CYP   232,663      81.52 (-1.50)
      Trading Companies       CYP   255,729      52.48 (-1.43)
      Other Companies         CYP   196,734      90.28 (-1.71)

CNA MM/1999

ENDS, CYPRUS NEWS AGENCY

1625:CYPPRESS:02

[02] Cyprus Women - Anti-occupation activities

The activities signal the start of a series of events in Europe and around the globe to protest the continuing occupation of part of Cyprus by Turkish troops, which invaded Cyprus in 1974.

According to the organisers, the activities seek to condemn Turkey which "without any shame violates the rights of the people of Cyprus and is seeking to present itself to the international community as the victim instead of the perpetrator."

Organisers also hope to rally support for an enlightenment campaign to promote Cyprus' just cause in Europe and to strengthen links between women's groups.

The activities are organised by the Coordinating Committee of Women's Associations of Famagusta, the Women's Group of Kyrenia, Morfou and Kythrea.

On Monday, the women will hand a petition to the Turkish embassy in Athens and meet with Greek women deputies and Greek Euro MPs.

On Sunday March 7 wreaths will be laid at the memorial of missing persons and a church service will be held at the Athens Cathedral.

CNA FZ/MM/1999

ENDS, CYPRUS NEWS AGENCY

1900:CYPPRESS:03

[03] Minister - AGM Offshore Association

He also said the services sector accounted for about 73 per cent of the GDP (Gross Domestic Product) in 1997 and pointed out the sector is increasingly becoming export oriented.

In his address to the Annual General Meeting of the Cyprus Offshore Enterprises Association, the minister noted its "impressive" success since the introduction of fiscal incentives in the mid-70s.

"More than 37.000 permits have been issued by the Central Bank for the registration of international business companies," he said, noting that currently 1.050 companies operate with fully fledged and fully staffed offices.

Many other offshore units manage their affairs through the offices of lawyers and accountants.

In 1998, 4.846 new international companies were registered. The major activities carried out from Cyprus include regional headquarters, trading re-packaging, holding and investing, engineering and construction, third party financial services, banking and maritime services.

Rolandis said the government is taking all necessary measures to enhance and further expand the offshore sector and added "the existence of a strong and dynamic business sector is the prerequisite for the creation of a healthy and competitive economy fully integrated into the international environment."

He noted that the increasingly export oriented sector is successfully counterbalancing the major restricting factors of a small local market.

In 1997, the sector accounted for 70 per cent of total receipts from the export of goods and services, compared to 50 per cent in 1980.

The minister expressed the hope that the constructive cooperation between the government and the Association will continue "for the mutual benefit of your members and Cyprus' status as a leading regional and international business centre."

Cyprus, Poland, Hungary, Slovenia, Estonia and the Czech Republic started substantive accession negotiations with the European Union in November 1998.

CNA MM/GG/1999

ENDS, CYPRUS NEWS AGENCY

2045:CYPPRESS:04

[04] Foreign Minister - Turkey - Cyprus

He noted that Turkey is arrogant at present but expressed the view that it is not that foolish as to attempt to create any incident on the island and expect such behaviour to be tolerated.

Speaking to the press after he briefed the House Foreign Affairs Committee on developments in the case of the PKK leader Abdullah Ocalan, he said the Ocalan affair has already had some repercussions on Cyprus.

He referred to Turkey's position that it would not negotiate with those backing terrorism, a clear reference to Cyprus as well.

The minister also pointed out that Turkey's premier Bulent Ecevit, who adopts very extreme views on the Cyprus question, appears to have more backing in the wake of the Ocalan case.

Commenting on Europe's stand on the Ocalan affair, Kasoulides said "it is a waste of time and utopia to talk about a fair trial and I would not hesitate to say that Europe has acted like Pontius Pilate on this case, as it has refused to accept Ocalan, irrespective of what they think of him, knowing that at the end of the day, if he ended up in Turkey he would end up facing what Italy has feared all along, and for this reason it has refused to extradite him."

CNA MM/GG/1999

ENDS, CYPRUS NEWS AGENCY

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