Cyprus News Agency: News in English (PM), 99-07-23

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

CONTENTS

[01] UNIFICYP - Greek Cypriot man

[02] Cyprus - EU meeting - Environment (03 Cyprus Stock Exchange

[04] Cyprus Electricity Authority - Annual Report

[05] House President - Vatican

[06] Cyprus Stock Exchange - Record high

1520:CYPPRESS:01

[01] UNIFICYP - Greek Cypriot man

Sarah Russel, spokeswoman of the United Nations Peacekeeping Forces in Cyprus ( (UNFICYP) told CNA that Canadian citizen, Rogiros Georgiou, 48, was visited by "a UN civilian policeman" and is said to be "fine".

Georgiou appeared before an illegal court in the Turkish occupied north of the island and was ordered to remain in so called "custody" for three days. He will appear before the illegal court on Monday.

Russel said Georgiou told the UN civilian policeman that he would contact his family himself and refused to undergo a medical examination.

The Canadian High Commission was informed by UNFICYP about Georgiou's illegal apprehension.

Georgiou was abducted yesterday afternoon by Turkish occupied forces when he accidentally drove into the occupied areas from Piroi village, south-east of Nicosia.

According to the Turkish Cypriot press, Georgiou told the illegal court that he does not recognise so called "borders" in Cyprus, and that as a human being he is free to go wherever he wants.

He further said he intends to take the case before the European Court of Human Rights.

Cyprus has been divided since 1974 when Turkish troops invaded and occupied 37 per cent of the island's territory.

The UN Security Council in resolutions, described the regime in the occupied north as "legally invalid". It is recognised only by Ankara.

CNA FZ/EC/1999

ENDS, CYPRUS NEWS AGENCY

1530:CYPPRESS:02

[02] Cyprus - EU meeting - Environment

Issues concerning EU environmental policy with emphasis on the protection of the world climate will be discussed at the meeting.

CNA RM/EC/1999

ENDS, CYPRUS NEWS AGENCY

1535:CYPPRESS:03

[03] Cyprus Stock Exchange

      CSE General Index                         248.09 (10.86)

      Traded Value            CYP 39,364,388

      Sectural Indices

      Banks                   CYP16,985,448     333.18 (13.55)
      Approved Investment
      Companies               CYP 1,058,897     121.87 (10.87)
      Insurance Companies     CYP 1,358,757     103.17 ( 4.40)
      Manufacturing Companies CYP 1,557,566     104.32 ( 0.40)
      Tourism Companies       CYP 1,880,518     193.80 ( 0.40)
      Trading Companies       CYP 2,776,830     123.15 ( 7.32)
      Other Companies         CYP 1,832,962     206.11 ( 7.23)

CNA MCH/1999

ENDS, CYPRUS NEWS AGENCY

1715:CYPPRESS:04

[04] Cyprus Electricity Authority - Annual Report

Costas Ioannou, Director General of the EAC told reporters the authority will "be ready to liberalise the market before Cyprus enters the EU", while the President of the EAC board, Costas Constantinides said "ambitious electricity companies will find it hard to compete with the Authority".

Constantinides described the Authority's financial position as "very good", noting that although there was a significant increase of 10 per cent in sales, there was a drop in revenue by 1,8 per cent, reaching 112,7 million Cyprus pounds.

(One Cyprus pound is equal to 1,8 US dollars). The EAC President said that with the completion of all phases of the new power station at Vasiliko, on the island's southern coast, the EAC will be in a position to respond to the increasing needs in electricity supply in the next century.

Constantinides assured that the Authority is safeguarding the environment by following all relevant provisions of the EU and Cyprus legislation, noting that it has already spent four million Cyprus pounds at Vassiliko for the protection of the environment.

The EAC is a state monopoly in electricity supply but in view of Cyprus' European course, there is much speculation over its future.

Cyprus, along with other five countries, began accession negotiations with the European Union in March 1998.

CNA MK/EC/MCH/1999

ENDS, CYPRUS NEWS AGENCY

1730:CYPPRESS:05

[05] House President - Vatican

Kyprianou met Friday Archbishop Jean Luis Tauran, responsible for the Vatican's foreign relations issues and briefed him on developments on the Cyprus problem and "the bleak prospects, in the light of the continued Turkish insistence for recognition of the results of the Turkish invasion", a House statement said.

Kyprianou, who is on an official visit to Rome, appealed to the Vatican to exercise its influence and undertake an initiative to ascertain the fate of the missing persons.

Archbishop Tauran promised to raise the issue during his meeting with UN Secretary-General Kofi Annan in October, and take all necessary measures.

He also stressed that the Vatican opposes the island's division and supports its territorial integrity and a solution based on the UN resolutions.

Cyprus has been divided since 1974 when Turkish troops invaded and occupied 37 per cent of the island's territory.

The Turkish side has been refusing to participate in peace negotiations unless they aim at the establishment of a confederation of two states in Cyprus, contrary to UN resolutions and agreements, reached between the two communities stipulating for a bizonal, bicommunal federation.

CNA EC/MCH/1999

ENDS, CYPRUS NEWS AGENCY

2005:CYPPRESS:06

[06] Cyprus Stock Exchange - Record high

The all share index closed at 248.09 or 10.86 per cent and the traded value reached 39,364,388 million Cyprus pounds (one Cyprus pound is equal to 1.8 US dollars).

The unprecedented figures were welcomed by the President of the CSE, Dinos Papadopoulos.

"The CSE is satisfied with the increasing volumes", Papadopoulos told CNA, stressing that they bring along an increased workload for the CSE and brokers, "who are doing all they can to cope."

Papadopoulos said the CSE "firmly believes that investors should be careful, get professional advice, not ignore the economic facts and not to be misled by rumours, bearing in mind that the stock exchange is a market which shows increases and sometimes decreases in prices."

He told CNA that the recent interest on the CSE is due to "the euphoria in the market, and the fact that there is a good psychology, with investors seeing prices increasing they want a share of the profits."

"There is new money in the market resulting with an increasing demand, pushing prices further up," he said.

Papadopoulos added that in an effort for the bourse and brokers to cope with the massive amount of administrative work that is rapidly piling up as a result of the increasing volumes, trading will be suspended on Monday and Tuesday to clear the backlog.

Topping the sub-indices are banks, with a volume of 16,985,448 million Cyprus pounds, followed by trading companies with 2,776,830 pounds, tourism companies with 1,880,518, other companies, manufacturing companies and approved investment companies.

CNA EC/MCH/1999

ENDS, CYPRUS NEWS AGENCY

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