Cyprus News Agency: News in English, 02-07-27

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

CONTENTS

[01] Cyprus trade mission to visit Saudi Arabia

[02] Central Bank refutes Financial Times allegations

[01] Cyprus trade mission to visit Saudi Arabia

1230:CYPPRESS:01

Cyprus trade mission to visit Saudi Arabia

Nicosia, Jul 27 (CNA) - Cyprus Chamber of Commerce and Industry (KEVE) in cooperation with the Ministry of Commerce, Industry and Tourism is organising a trade mission to Saudi Arabia and another arabic country, in January 2003.

A KEVE press release said the mission to take place during the second fortnight of January, would visit Riyadh, Jeddah and one of the three following countries: Kuwait, Bahrain or Dubai.

[02] Central Bank refutes Financial Times allegations

1330:CYPPRESS:02

Central Bank refutes Financial Times allegations

Nicosia, Jul 27 (CNA) - The Central Bank of Cyprus has refuted allegations in a "Financial Times" report, published on July 25, that knowingly it was involved in sanctions busting and money laundering, during the years when UN santions against Yugoslavia were in force.

A Central Bank press release issued here today stressed that "Cyprus had scrupulously adhered to the implementation of sanctions against Yugoslavia as contained in the relevant Security Council Resolutions and as a result of this aderence, more than 400 million US dollars, of Yugoslav state funds with banks in Cyprus, were subjected to freezing action."

Meanwhile Cyprus Attorney General Alecos Markides said yesterday that that "if someone, somewhere tricked Cyprus and its services that is the question and investigations on this are under way".

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