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Cyprus PIO: News Update in English, 99-01-04
From: The Republic of Cyprus Press and Information Office Server at <http://www.pio.gov.cy/>
Monday, 4 January 1999
CONTENTS
- [01] Socialist Party Edek withdraws from Government
- [02] New North Korean Ambassador to Cyprus
- [03] Revocation of Inkombank's Banking Business Licence
[01] Socialist Party Edek withdraws from Government
The Cyprus Socialist Party EDEK decided on 2 January to withdraw from the
government of President Glafcos Clerides following the government's
decision not to deploy Russian S-300 anti-aircraft missiles in Cyprus,
announced on December 29.
In a statement to the press yesterday, Cyprus Defence Minister Yiannakis
Omirou who is also Edek's first Vice President said his party had to leave
the government as a matter of principle and for respect to its supporters.
He acknowledged that both Athens and Nicosia bear responsibility for the
decision not to deploy the missiles.
[02] New North Korean Ambassador to Cyprus
The new Ambassador of the Democratic People's Republic of Korea to Cyprus,
Mr Paek Yong Ho presented his credentials to the President of the Republic
Mr Glafcos Clerides on 30 December.
Presenting his credentials at a formal ceremony at the Presidential Palace,
the new North Korean Ambassador said that the friendly relations between
the two countries are developing positively. and expressed support for the
efforts of the people of Cyprus "to end the division and realise unification
and demilitarisation of Cyprus and to develop the economy and the
productive forces".
[03] Revocation of Inkombank's Banking Business Licence
The Central Bank of Cyprus under section 30 of the Banking Business Law has
proceeded on 18 November 1998 with the revocation of Inkombank's licence
dated 20 July 1993, which allowed it to establish an International Banking
Unit (IBU) in the form of a branch in Cyprus.
The revocation by the Central Bank of Cyprus was made following the
revocation of Inkombank's licence by the Central Bank of the Russian
Federation on 29 October 1998.
From the Republic of Cyprus Press and Information Office (PIO) Server at http://www.pio.gov.cy/
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