Cyprus News Agency: News in English (PM), 97-04-04

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

CONTENTS

[01] Spokesman on proximity talks

[02] Cyprus to participate in Europartenariat Hellas

[03] Cyprus hosts symposium on celebrated Greek Poet

[04] Cyprus Stock Exchange

[05] Youth organisations promote rapprochement

[06] Stock Exchange - one year on

1610 CYPPRESS:01

[01] Spokesman on proximity talks

"I am not in a position to say there has been progress," Cassoulides told his daily press briefing, but noted that there was "an opportunity for a useful exchange of views."

"At present, I am not in a position to say where this exchange of views will lead to," he added.

Asked whether this exchange sets the preconditions which would enable the process to continue, the Spokesman pointed out that once these preconditions are met, the proximity talks will be over and direct negotiation can begin.

UN resident representative, Gustave Feissel, has been holding separate bi-weekly meetings with President Clerides and Denktash, for the past three weeks, to set the ground for negotiations for a solution to the Cyprus problem.

Cassoulides also said there is no deadline for the proximity talks.

Replying to questions, Cassoulides said good will measures the UN expects the two sides to take to improve the climate of the talks are still under discussion.

The Spokesman welcomed statements made yesterday by US ambassador in Nicosia, Kenneth Brill, that his country's efforts for a solution in Cyprus are on-going and mostly conducted behind closed doors.

"The American ambassador confirmed US interest and said his country is working behind the scenes so that progress can be achieved in 1997," he said, noting the government considers this interest as "important for the Cyprus problem".

CNA MA/MM/1997

ENDS, CYPRUS NEWS AGENCY

1640 CYPPRESS:02

[02] Cyprus to participate in Europartenariat Hellas

In a statement, KEVE points out that Europartenariat is the biggest business meeting worldwide, bringing together representatives of around 3.000 firms from 77 countries, who hold 12.000 separate meetings.

Europartenariat, held in a different country each year, is a European Union (EU) institution, aiming at promoting contact, transactions and cooperation between firms from various regions of the world, in view of the ongoing market globalisation, implemented by GATT (General Agreement on Tarrifs and Trade."

According to the EU itself, 60 per cent of the separate meetings result in long term cooperation between firms, 40 per cent of which, reach cooperation agreements.

Each Europartenariat participant has a number of pre-arranged appointments.

At the Piraeus Europartenariat, 400 small and medium sized Greek firms, from a wide spectrum of sectors, will represent the country's trade and industry.

This year's Europartenariat will focus on young entrepreneurs, during the start-up phase of their business and especially on the use of new technologies and the networking between firms.

Director of the Industry Department, at KEVE, Marios Tsiakkis told CNA that around 180 Cypriot companies have already expressed interest in the event.

Tsiakkis pointed out that every Cypriot firm should participate, as the resulting benefits in respect of strengthening competitiveness are enormous.

CNA GG/MM/1997

ENDS, CYPRUS NEWS AGENCY

1700 :CYPPRESS:03

[03] Cyprus hosts symposium on celebrated Greek Poet

World renowned scholars are attending the three-day event, organised by the Byzantine and Modern Greek Studies Department of the University of Cyprus in conjunction with the Ayia Napa Municipality.

The symposium was opened by Minister of Education and Culture, Claire Angelidou, who said Kavafis represents the finest of what Greek poetry has to offer, and conveys in his work his own personal struggle with his passions.

"Therefore, we won't formulate theories from his work, but rather look deep inside the man's personal drama which seeps through his poetry," Angelidou said.

Greek Education Counsellor in Egypt, Costis Moskov, also spoke at the opening ceremony.

The symposium will address the various aspects of Kavafis work, such as the theme of cosmopolitanism in his poetry, the asthetic qualities of his times conveyed through his work, his contemplation of religion and the erotic shades of his life.

Kavafis was born to Greek parents in the Egyptian city of Alexandria in 1863 and lived most of his life in that city's once thriving Greek community.

He was a student of ancient Greek literature, and used the Greek language in his poetry in a unique way. He is famed for turning his back on the poetic movement of his time, which was then dominated by patriotism and lyricism, and turning inwards into the human frailties such as self doubt, despair and lust.

CNA MH/MM/1997

ENDS, CYPRUS NEWS AGENCY

1930:CYPPRESS:04

[04] Cyprus Stock Exchange

CSE All Share Index                    80.44 (+0.25)

Highest: 82.46 (2/1/97)
Lowest : 73.90 (30/1/97)

Sectural Indices

Banks                                  90.60 (-0.49)
Approved Investment Companies          70.36 (+0.67)
Insurance Companies                    61.76 (+0.18)
Industrial Companies                   83.44 (+3.51)
Tourist Industries                     64.12 (+1.58)
Commercial Companies                   53.59 (-1.00)
Other Companies                        56.80 (+0.78)

Trading Volume                         CYP 790502.540

CNA MM/1997

ENDS, CYPRUS NEWS AGENCY

2030 CYPPRESS:05

[05] Youth organisations promote rapprochement

The leader of left-wing AKEL party youth section (EDON), Stephanos Stephanou, announced at a press conference here today that a concert with Greek and Turkish Cypriot singers, as well as singers from Greece and Turkey, will take place on April 11, in Nicosia.

Stephanou noted that it will be the first concert of its kind, since the 1974 Turkish invasion and occupation of part of Cyprus.

Similar "peace and friendship" events will also be held in August in the Greek island of Kos and the Turkish coastal town Bountroum, and in London, where thousands of Greek and Turkish Cypriots coexist peacefully, in October, this year.

Stephanou said the concert, entitled "Under the Same Sky", will be the main event in the 10-day programme, organised by EDON, for the fifth consecutive year, to promote rapprochement between Greek and Turkish Cypriots.

He stressed that even if the best possible solution to the Cyprus problem were to be achieved, it will not be able to last if the people here do not feel they are citizens of the same country.

A joint declaration signed by six Greek Cypriot, Turkish Cypriot, Turkish and Greek organisations, and the Forum for Friendship and Cooperation between Greek and Turkish Cypriots living in Great Britain, stresses the need for peace.

The declaration notes that the organisations, that met earlier this year, will "step up their efforts for joint action to put an end to the possibility of war in our sensitive region."

The organisations believe they have to "set the preconditions for the peaceful coexistence of their people and against imperialist interventions and the new world order."

They also demand "the solution of the Cyprus problem through peaceful means" and advocate respect for the internationally recognised boundaries and the independence, territorial integrity and sovereignty of Cyprus.

The youth organisations pledge to undertake all efforts to put an end to nationalism and chauvinism.

CNA MA/MM/1997

ENDS, CYPRUS NEWS AGENCY

2050 CYPPRESS:06

[06] Stock Exchange - one year on

The Minister also said the Stock Exchange has achieved remarkable results in its first year of operation.

Addressing a press conference one year after the official opening of the Cyprus Stock Exchange (CSE), Christodoulou said the first incentive refers to a change in the definition of "public company" under the income tax legislation, in order to align it, with the definition of a "listed company".

Secondly, the Minister added, the company tax will drop by five percentage points, for firms proceeding with listing, realised according to a specific time table.

Christdoulou also announced that before the end of April, development bonds will be listed and auctioned at the CSE, and reiterated the government's willingness to support the CSE in its effort to "render and establish Cyprus as a regional financial-economic and business hub."

The Minister stressed the important contribution of the Stock Exchange, to the country's efforts towards a "healthy and stable economy," and said the CSE "has already achieved remarkable results, while its prospects are auspicious."

CSE Chairman, Dinos Papadopoulos, said 87 million Cyprus pounds (about 174 million US dollars) was raised in 1996, from old and new listed companies.

Papadopoulos noted that the 1996 total market capitalisation was around 1,1 billion pounds, while the average daily volume of transactions reached 669 thousand pounds, and the corresponding amount for 1997's first three months, was 782 thousand pounds.

CSE Chairman characterised these volumes as "high, compared with the market levels of previous years".

Two Bills, one before the House and another before the Attorney General's office, will eliminate existing malfunctioning, and regulate the possession, use, and forwarding of confidential information, "harmonising the CSE's legal framework, with those of developed markets," Papadopoulos said.

Referring to the institution's promotion programme, Papadopoulos announced that the CSE has decided to hold a presentation-meeting on May 9, in Athens, to familiarise Greek investors and brokers with the island's stock market, while the possibility of direct connection with the Greek Stock Exchange, is being examined.

CNA GG/MM/1997

ENDS, CYPRUS NEWS AGENCY

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