Cyprus News Agency: News in English (PM), 99-06-17

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

CONTENTS

[01] Cyprus Stock Exchange

[02] Vassiliou - Finland - Estonia

[03] Foreign Office - G8 - Cyprus

[04] G8 Summit

[05] Cyprus industry - New strategy

[06] Spokesman - Ecevit - G8

[07] Kyprianou - Parties - US embassy

1700:CYPPRESS:01

[01] Cyprus Stock Exchange

      CSE General Index                         155.34 ( 1.54)

      Traded Value            CYP  8,538,636

      Sectural Indices

      Banks                   CYP 2,273,004     206.75 ( 1.39)
      Approved Investment
      Companies               CYP   243,022      77.98 ( 1.12)
      Insurance Companies     CYP   344,583      83.06 (-3.00)
      Manufacturing Companies CYP   510,376      95.24 ( 4.80)
      Tourism Companies       CYP 1,410,339     111.45 ( 0.99)
      Trading Companies       CYP   652,223      66.39 ( 2.00)
      Other Companies         CYP 1,143,145     110.35 ( 4.19)

CNA EC/1999

ENDS, CYPRUS NEWS AGENCY

1710:CYPPRESS:02

[02] Vassiliou - Finland - Estonia

At press conference today, Chief negotiator for Cyprus in talks for accession to the EU, George Vassiliou, talked about his recent visits to Finland and Estonia and described them as "useful".

He said Finnish Representative for Cyprus, Jakko Blomberg expressed disappointment over the lack of progress on the Cyprus problem but recognised that the Greek Cypriot side was not responsible for that.

Blomberg, said Vassiliou, expressed the hope that a statement formulated by the seven most industrialised countries plus Russia (G8) on Cyprus will be approved at their forthcoming summit in Cologne and will lead to a resumption of the peace talks on Cyprus.

Finland will take over from Germany the six-month EU rotating presidency, on July 1st.

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

Turkish Cypriot leader, Rauf Denktash, insists his self-styled regime in the occupied north of the island, be recognised as a state before he returns to the negotiating table.

The G8 Foreign Ministers, in their statement earlier this month, reiterated their support to UN efforts for a comprehensive settlement to the Cyprus problem on the basis of relevant UN Security Council resolutions.

They also urged the UN Secretary-General to invite the two sides in Cyprus to negotiations without preconditions.

Vassiliou also took part at a meeting in Talin, Estonia, with the negotiators of the other EU candidate member states.

The negotiators reviewed the results of the recent EU leaders' summit in Cologne and examined accession aspects.

Cyprus is one of the six countries expected to be included in the next EU enlargement. It applied for EU accession in 1990.

Referring to the cost of Cyprus' harmonisation with the acquis communautaire, Vassiliou said it ranges between 20 million Cyprus pounds per year.

CNA GG/EC/MCH/1999

ENDS, CYPRUS NEWS AGENCY

1850:CYPPRESS:03

[03] Foreign Office - G8 - Cyprus

This was stated here Thursday by the Director of the Press Department of the Foreign Office, Chris Sainty.

Asked if the G8 will talk about the Cyprus problem at their forthcoming meeting in Cologne, Sainty said there will be some discussion on Cyprus and a reference in the statement which will come out of the G8.

What the G8 will be seeking to do is not in any way to displace the UN "as the international organisation with the key interest to resolving the issue and reaching a settlement", Sainty said.

"Clearly, the role of the G8 is a supporting one. I expect it to say in a statement that it supports the efforts of the UN and the Secretary- General in promoting the process towards a settlement," the FO official added.

Invited to comment on statements made by Turkish Prime Minister Bulent Ecevit that an intervention by the G8 could lead to an ethnic conflict like in Bosnia, Sainty said that what the G8 will be seeking to "do is to help towards the efforts of the UN to reach a settlement."

This is "supported by all sides", he added. The G8 Foreign Ministers have agreed on a reference on Cyprus during their recent meeting in Cologne. The reference is subject to approval by the G8 summit this weekend.

The ministers urged their leaders to reiterate their support to UN efforts for a comprehensive settlement to the Cyprus problem on the basis of UN Security Council resolutions.

They called on their leaders to urge the UN Secretary-General to invite the two sides in Cyprus to negotiations without preconditions.

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

CNA KT/EC/GP/1999

ENDS, CYPRUS NEWS AGENCY

1915:CYPPRESS:04

[04] G8 Summit

Cologne, Jun 17 (CNA) -- Leaders of the seven leading industrial nations plus Russia started arriving here today for the three-day economic summit of the G8.

The conclusions of the previous G8 summit, which took place in Birmingham in May 1998, did not have a reference to Cyprus, but this 25th meeting is expected to adopt the statement which Foreign Ministers approved last week.

The Ministers had urged their leaders to reiterate their support to UN efforts for a comprehensive Cyprus settlement on the basis of UN Security Council resolutions and to urge the UN Secretary General to invite the Greek Cypriots and Turkish Cypriots to negotiations without preconditions.

The summit opens Friday afternoon with the gathering of the heads of state or government of the G7 countries and the Gurzenich (a special building here which hosts many grand occasions) where German Chancellor Gerhard Schroder will make a welcoming statement to his guests.

The heads of state of the G7 will then have a working meeting which will be followed by a reception for heads of the G8 countries, hosted by the German Chancellor.

This will be followed by a working dinner of the heads of the G8 but the first working session of the heads of state and government will take place on Saturday morning.

The leaders of all eight nations (Germany, Japan, Italy, Canada, Russia, France, the US and the United Kingdom) are expected here for discussions.

US President Bill Clinton is due to arrive in Cologne later today. Also attending, according to the programme, is Jacques Santer, representing the European Commission, being still its President.

The city of Cologne, which has recently hosted several high level meetings, is flooded with security officers and roads have been cut off to make the transfer of the heads of state easier.

The G8 meeting will take place at the Wallraf-Richartz museum, Ludwig museum and the main media centre is in a huge tent, with all facilities available to journalists.

Germany, the current annual president of the G8, is hosting the 25th meeting of the group of heads of state. The first one took place in Rambouillet, France, and aimed at offering an opportunity to heads to meet at a personal level.

The G8 has a variety of issues on the agenda, besides policy reactions to globalisation, which is the main issue of the Cologne economic summit.

Leaders will review the current world economic situation, monetary and financial architecture for the globalised world, crisis prevention through debt relief and sustainable development.

They will also talk about investing in education and human capital building, unemployment, nuclear safety and the environment.

CNA MM/RG/MCH/1999

ENDS, CYPRUS NEWS AGENCY

1930:CYPPRESS:05

[05] Cyprus industry - New strategy

Rolandis told a press conference that the new policy aims at tackling depression in the industrial field, whose share in the GDP fell from 18 per cent in 1982 to 11,5% in 1997.

He said a healthy economy is not possible without a strong industrial sector, adding all parties involved joined forces in drafting this strategy, approved by the Council of Ministers on June 2.

The strategy revolves around developing high-technology industries, restructuring and supporting traditional light industries, and attracting foreign investments.

The 12 chapters of the strategy include measures to promote high- technology industry, create a One-Stop Shop for foreign investors, introduce motives for light industries, and give grants to support various sectors of the industry.

CNA GG/RG/GP/1999

ENDS, CYPRUS NEWS AGENCY

2040:CYPPRESS:06

[06] Spokesman - Ecevit - G8

Invited to comment on statements made by Bulent Ecevit that an intervention by the G8 could lead to an ethnic conflict like in Bosnia, Government Spokesman Costas Serezis brushed aside the Turkish politician's comments.

"Comments on such threats will be made by those interested and involved in efforts for a Cyprus settlement," the Spokesman said.

He added that the Cyprus government would like to maintain "a climate which will lead to the start of a constructive dialogue."

The G8 foreign ministers have agreed on a reference on Cyprus during their recent meeting in Cologne. The reference is subject to approval by the G8 summit this weekend.

They called on their leaders to urge the UN Secretary General to invite the two sides in Cyprus to negotiations without preconditions.

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

CNA MK/EC/MCH/1999

ENDS, CYPRUS NEWS AGENCY

2055:CYPPRESS:07

[07] Kyprianou - Parties - US embassy

At the same time, the government announced that President Glafcos Clerides is expected to announce his position on the issue soon.

Last week, opposition parties, left-wing AKEL and centre-right DIKO expressed dissatisfaction with a US embassy statement that party members had not accepted invitations to embassy sponsored events in recent weeks, but went to the embassy to demonstrate against NATO's air raids in Yugoslavia.

House President, Spyros Kyprianou said today that he was granted the authorisation after deliberations with party leaders.

He said he will brief the President of the Republic "on the views expressed and the need to make representations and all necessary actions to protect the prestige and dignity of the Cypriot state."

Government Spokesman, Costas Serezis said President Clerides, was informed today by acting Foreign Minister, Finance Minister Takis Klerides, about the meeting he had with Kyprianou and the party leaders on the issue.

"The President will reply shortly", the Spokesman added.

CNA EC/MCH/1999

ENDS, CYPRUS NEWS AGENCY

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