Cyprus Broadcasting Corporation: News in English, 00-03-24

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From: The Cyprus Broadcasting Corporation at <http://www.cybc.com.cy/>

CONTENTS

FRIDAY 24 MARCH 2000

[01] HEADLINES

[02] FERHOYGEN

[03] MARKET

[04] STOCKS

[05] FINANCE

[06] FIGHTERS

[07] RUSSIA

[08] WORLD

[09] ANDREAS

[10] CELEBRATIONS

[11] WEATHER

[01] HEADLINES

The stock exchange rebounded encouragingly from yesterday's nosedive, but angry investors are suggesting greedy brokers and investment companies are to blame for the slide,

Moscow is willing to get more involved in Cyprus solution efforts,

President Clerides is impressed with the fighting skills of national guardsmen,

And Greek Independence day celebrations kick off across Cyprus and Greece.

[02] FERHOYGEN

He added that everyone in Cyprus agrees that they must take advantage of the window of opportunity that has now been opened by the Helsinki summit.

Mr. Ferhoygen said that the House President briefed him on the past and present situation and on what cannot be done.

On his part, Mr. Kyprianou said that he tried to give the European Commissioner a general picture of the Cyprus issue, explaining that the past cannot be brushed aside.

Mr. Ferghoygen met later with President Clerides, but the Commissioner did not wish to make any statements.

He also met with the EU accession negotiation chief, George Vassiliou.

Following that meeting, Mr. Ferhoygen said that Cyprus' accession course is not facing any problems.

On his part, Mr. Vassiliou said he was satisfied with what he called a constructive meeting, noting however, that pre-emptive measures must be taken to avoid problems in accession talks.

Mr. Ferhoygen also met with the President of the House Foreign and European Affairs Committee, Tassos Papadopoulos.

Mr. Papadoupolos said the European Commissioner conveyed the EU's steadfast position that separate accession negotiations with the occupation regime are totally out of the question.

Mr. Ferhoygen also met with the UN Secretary General's special representative in Cyprus, James Holger.

Later, the European Commissioner will travel to the occupied areas where he will meet with Turkish Cypriot party leaders.

He will also meet with Rauf Denktash later tonight.

[03] MARKET

The index closed at 470 points, up 6.23 percent from yesterday's dismal performance, while volume closed at 26,8 million pounds.

According to broker Kostas Hadjigabriel, signals of a healthy rebound are positive, but that the situation is still volatile.

He credited today's index rise to mass investor purchases who were rewarded with decent profits.

Prior to today's session, dozens of investors held a peaceful protest outside the exchange building.

They stressed the need for putting an end on the situation created after the price nosedive.

Police were out in force outside the exchange to prevent any unfortunate incidents.

[04] STOCKS

Calling it a criminal act, Mr. Argyrides said the drop was planned ahead and pointed a finger of blame on investment companies and brokers.

He dismissed the view that the drop in share prices is due to psychological reasons, because companies which have been posting positive results, should nudge the price index upwards.

At the same time, Mr. Argyrides called for the complete separation of roles between broker and investor in order to secure the proper functioning of the exchange.

He called on investors who have purchased shares from companies not yet listed on the exchange, to demand that these companies be dissolved and to get their money back.

[05] FINANCE

Committee Chairman Markos Kyprianou said the law is now in the hands of the Companies Registrar and the Attorney General's office for its final drafting.

He also said the Committee will have a final draft of the law by Monday which will be assessed and presented before plenum for a vote next Thursday.

Mr. Kyprianou said the Committee had yet to receive a bill by the government.

[06] FIGHTERS

Speaking in Stavrovouni following the graduation of reservists officers from the National Guard's Fighter's School, President Clerides said that he was impressed by the officer's skills.

The President said that it's a great feat for skills to be honed to such a degree in only four weeks.

On his part, Defence Minister Socratis Hasikos said the National Guard is on a very high level of preparation and ability.

National Guard chief of staff Brigadeer General Dimitrios Dimou said the Fighter's School has produced outstanding results.

[07] RUSSIA

This from new Russian Ambassador to Cyprus, Vladimir Pavlinov as he presented his credentials to President Clerides yesterday.

The Russian Ambassador welcomed President Clerides proposal for demilitarization, which Mr. Pavlinov said falls in line with Russian proposals.

[08] WORLD

Lee's departure followed calls for his resignation by angry protesters and party lawmakers worried about possible defections that could wipe out their parliamentary majority.

- - - -

Pope John Paul said Mass for the multitudes at the Sea of Galilee site where Jesus gave his "blessed are the peacemakers" Sermon on the Mount.

In a rare occurrence on a papal trip, the frail, 79-year-old Pope sat on a throne flanked by two clear glass bulletproof screens for the biggest event of his pilgrimage, an indication of the intense security Israel has laid on for the Pontiff.

- - - -

Pakistan's military rulers prepared for tough talks with U.S. President Bill Clinton a day after statements from the two sides showed a gulf in their stances on democracy and troubled Kashmir.

U.S. officials said Mr. Clinton would push hard for military ruler General Pervez Musharraf to back down in the conflict with India over the Himalayan region of Kashmir, and urge him to go further to restore democracy after last October's bloodless coup.

- - - -

Austria's 14 EU partners spurned an appeal by Vienna for an end to political sanctions they imposed after the far right entered a coalition government.

Speaking on behalf of the 14 states at a summit meeting of the bloc, Portuguese Prime Minister Antonio Guterres said bilateral relations would remain frozen until there was political change in Austria.

[09] ANDREAS

Andreas is suffering from leukaemia and needs to have an immediate bone marrow transplant.

Andreas' plight has brought to the surface 40 more cases of adults and children also waiting for bone marrow transplants in Greece.

In Cyprus, Turkish Cypriots have expressed their willingness through UNFICYP to donate blood to locate a match for Andreas.

[10] CELEBRATIONS

In a message, Education and Culture Minister Ouranios Ioannides said the generation of 1821 took on the Ottoman Empire knowing full well the consequences of their actions and being totally aware of their responsibilities.

He added that the vanguard of Hellenism are Greek Cypriots who have an historic future because they never allowed chance to determine their course.

Mr. Ioannides also stressed the consequences of the Turkish invasion are not immutable, because the only immutable thing is justice which always prevails at the end.

He also called upon Cypriot youth to cultivate their fighting spirit to make manifest the values of justice and freedom in Cyprus.

[11] WEATHER

Winds will be westerly to northwesterly moderate, 4 beaufort, with moderate seas in windward areas.

Tonight will continue to be mainly fine with light winds out of the northwest at 3 beaufort, with slight seas.

The temperature will drop to five degrees inland, seven along the coasts and two over the higher altitudes.

Snow accumulation on Mount Olympus is 25 centimetres and 15 in Troodos Square.

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