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Cyprus Mail: News Articles in English, 99-08-18

Cyprus Mail: News Articles in English Directory - Previous Article - Next Article

From: The Cyprus Mail at <http://www.cynews.com/>


A:hover {color: #800000; font-family: Arial; font-weight: bold}

Wednesday, August 18, 1999

CONTENTS

  • [01] Disillusioned Galanos quits Cyprus politicsBy Charlie CharalambousDISILLUSIONED party leader Alexis Galanos calmly turned his back on Cyprus politics for good yesterday.He told a news conference yesterday afternoon the reason for ending his career was because he felt local politics had changed for the worse.The silver-haired Galanos, who will turn 59 on August 30, has decided to step down from all political activity."It was time to make a decision because I disagreed with the mentality and the way political life was developing," Galanos said.The Cambridge graduate said he had no qualms about leaving the political arena after realising he could not change things "and I had nothing left to give".Sending a warning to others, he advised: "You cannot wait to die in your chair or for someone to kick you out."Galanos' scepticism about the future of Cyprus politics started to blossom after President Glafcos Clerides' decision to re-deploy the Russian S-300 missiles to Crete last December under intense international pressure."Maybe it was wrong not to leave when the S-300s were cancelled... to a large extent it diminished my enthusiasm because I continue to believe the cancellation gave the sense of a third invasion by Attila."Insiders have said that Galanos' political influence started to wane once he left the Diko party of House President Spyros Kyprianou in an acrimonious split during the presidential elections.Although Galanos backed the right horse in the 1998 elections he declined a ministerial position in the Clerides cabinet and decided to establish the Eurodemocratic Renewal Party.Rumours that Disy has poached many of his party members may partly explain his sudden change of heart."For those who don't want to receive free gifts from powerful protectors it's hard for them to survive," said Galanos, suggesting that his minnow of a party had been swallowed by the big fish of Disy.In a long and successful career, Galanos started out as deputy for Famagusta in 1976 to become President of the House of Representatives in 1991, a position he held until 1998.Between 1981 and 1996 he was re-elected as deputy for the Famagusta district, he was Diko's parliamentary spokesman for ten years, and he also chaired the influential House Finance Committee."The game of politics is like the stock market because it’s the anticipation of future co-operation which counts, not the past," was Galanos' parting shot yesterday.
  • [02] Seismology chief allays fears of impending quakeBy Martin HellicarCYPRUS is notnext in line for a disastrous earthquake like the one that struck Turkey yesterday, local experts insist.Coming only days after a strong quake rocked the island, news of the huge quake in Turkey, which killed more than 1,000 people, raised fears that a similar disaster might be round the corner for Cyprus.But the acting head of the Geological Survey department, Sotiris Aphrodisis, dismissed such suggestions."The earthquake in Turkey has nothing to do with the tremor we had in Cyprus. This earthquake was very far away from Cyprus, in northwest Turkey," the government scientist said.He said the Turkish quake had been generated by a totally different fault system to the one responsible for tremors here."There is no connection at all" between the quake in Turkey and Cyprus, the seismologist said.Experts say seismic activity in the Cyprus area is coming to the end of a ten-year active cycle and should peter out in the next two years.In February 1995, two people were killed when an earthquake measuring 5.7 on the Richter scale hit the Paphos area. In October the following year a quake measuring 6.3 caused little damage and no fatalities.Wednesday's quake, measuring 5.8 on the Richter scale, caused no serious injuries but did damage a large number of buildings, especially in the Limassol area -- where the epicentre of the tremor was located.The quake was followed by dozens of aftershocks, many of them strong enough to be felt in Limassol and elsewhere.Aphrodisis said yesterday these aftershocks were now waning, although yesterday evening a strong aftershock measuring 4.8 was felt at 6.03pm in Nicosia and Limassol.Repairing the damage to homes caused by Wednesday's quake is expected to cost the state about £1.5 million. Some 3,000 applications for state subsidies to carry out repairs are anticipated, with more than 2,000 submitted already.Three apartment blocks in the Yermasoyia area have been evacuated after suffering serious quake damage. The worst hit area was the village of Arkounda, which was very close to the quake's epicentre.
  • [03] Stock exchange trading resumes with a vengeanceBy Hamza HendawiTRADING on the Cyprus Stock Exchange has resumed with a vengeance following a week- long break ordered to clear a mountain of unprocessed transactions.As if making up for lost time, share prices on Monday leapt by 9.25 per cent to a record close of 317.47, then rose by another 2.27 per cent yesterday to close at 324.68.Volume on both days, however, did not quite match the ferocity with which the shares appreciated, registering £30.26 million on Monday and £33.60 million yesterday. The record for a one-day volume is £68.98 million, reached on July 28, the day share prices rose by a breath- taking 18.62 per cent.With trading in Bank of Cyprus titles suspended while its two-for-one share split is in the pipeline, focus was shifted to the Popular and Hellenic banks in yesterday's trade. Popular Bank finished the day up eight cents at £8.85 on a volume of £8.87 million, adding on to Monday's gains of £1.59. Hellenic, heading for a four-for-one split next month, notched up £1.11 to finish at £11.35 yesterday. On Monday, it rose by £1.37.The impressive showing of the past two days has cast off widespread doubts that the market's two closures -- last week's and a shorter break in late July -- would undermine investor confidence and project a negative image of the bourse's infrastructure.But, still, not all seems to be well on the market. Cyprus Stock Exchange Chairman Dinos Papadopoulos told the Cyprus Mailyesterday that brokerages have until tomorrow to clear transactions which he categorised as delayed for a month or more."Those who don't meet the deadline will not be allowed on the floor on Friday," he warned. Papadopoulos also called on investors experiencing delays in receiving documentation or certificates for their purchase of stocks to write to the Cyprus Stock Exchange with full details in order to allow the bourse's authorities to investigate their complaints.The Thursday deadline for clearing month-old transactions is likely to prolong the tug- of-war between brokerages and the market's authorities. Brokers insist that the delays would be eliminated if the market established a central depository, while the stock exchange argues that brokerage firms have failed to recruit and train new backroom staff to handle transactions.The number of transactions has rocketed from an average of 500 to about 4,000 a day since an automated trading system was introduced last May.Official sources, meanwhile, said yesterday that an investigation by the Securities and Exchange Commission (SEC) was continuing into last month's Initial Public Offering by Louis Cruise Lines Ltd.They said the investigation arose from complaints by investors and press allegations that some shares had been set aside from the IPO for certain individuals. The sources, however, said the complaints are likely to be the result of confusion on the part of some investors between the IPO and the company's private placement of shares.The SEC is also known to be investigating complaints by some investors alleging that they had not received their share certificates or were still awaiting their unused tender money.The flotation of Louis Cruise Lines was eagerly awaited by investors on the island, but the listing of the company has been mired in intense controversy since its titles hit the market on August 3. The flurry of negative publicity and allegations of sleaze began when two company executives, one of them Managing Director Stelios Kiliaris, sold tens of thousands of shares and warrants on the first day of trading, casting a cloud on the company's prospects and, according to traders, pushing the price sharply lower on August 4 and 5.It later transpired that at least two political parties -- President Glafcos Clerides' Disy and House Speaker Spyros Kyprianou's Diko -- were given large numbers of shares in the private placement, sparking serious questions on what Louis hoped to gain from such a move and calls for the establishment of binding guidelines to govern relations between big businesses and politicians.The company said the two executives did nothing wrong and defended its decision to allot shares to Disy and Diko, saying it sought no favours or preferential treatment from politicians. Its explanations, however, have failed to quieten the public furore over its actions.Louis's IPO was worth £9.5 million at 40 cents a share, while its private placement was roughly the same size. Those fortunate enough to receive shares in the private placement were spared the disappointment caused by a pro ratadistribution of shares after the IPO was over- subscribed 53 times.Louis shares closed yesterday at £2.63, up 8 cents. On Monday, it rose by 25.50 cents.
  • [04] Four remanded after drugs found in carDRUG Squad officers discovered three kilos of hashish hidden in a car they stopped on Nicosia's Acropolis Avenue late on Monday night, police said yesterday.Four men appeared before Nicosia District Court yesterday in connection with the seizure.Two of the men -- Alecos Ioannou, 35, from Strovolos, and Savvas Loizou, 31, from Anthoupolis -- were in the car when it was stopped at 11.50pm on Monday, the court heard.The other two suspects -- Loukas Kyriacou, 21, from Aradippou outside Larnaca, and Charalambos Hadjimarkou, 39, from Acropolis in Nicosia -- were arrested shortly after the drugs find.Police said Drug Squad officers intercepted the car after receiving a tip-off and placing the vehicle under surveillance. The three kilos of hashish were found hidden inside the passenger seat of the car, the court heard.Kyriacou had a small quantity of hashish on him when he was arrested and Loizou later handed over 120 grammes of the drug to officers, police added.All four suspects were remanded in police custody for eight days.In Larnaca meanwhile, the Famagusta District Court fined two holidaying British social workers £300 each for possession and use of hashish.The court heard that on August 11 police found 0.7 grammes of hashish, a cigarette end and three hand-made cigarettes in an Ayia Napa holiday flat rented by Simon Smith, 28, and Anthony Richards, 27. The suspects told police they had bought the drugs in Ayia Napa square for £16, the court heard.Before passing sentence, presiding judge Leonidas Kalogirou spoke of the "evils" of drug use. He said local courts were particularly sensitive on the issue because illegal narcotics "threaten the very existence of our people".
  • [05] Athlete drowned after hitting his head in sea-bedTHE YOUNG Omonia handballer and national guardsman who died after an early morning swim with friends at the weekend drowned after hitting his head on the sea-bed, state pathologist Sophoclis Sophocleous said after performing an autopsy.Sophocleous said he found a small cut on the head of 20-year-old George Andreas Loizides,and this indicated that he had knocked himself unconscious and then drowned.Friends of the victim who were at Vrissi beach with him at 4.45am on Saturday confirmed that Loizides had been diving in the water, he said.When they realised that he had been missing for some time, Loizides' friends searched for 30 minutes before they found him floating unconscious. They applied first aid but were unable to revive him, and he was pronounced dead on arrival at Paralimni hospital.Loizides, who was captain of Omonia's junior handball team and lived in the Nicosia suburb of Strovolos, was buried on Monday.
  • [06] Man arrested after alleged knife attack
  • [07] Woman owns up to confronting Prince CharlesBy Charlie CharalambousA CYPRIOT woman yesterday owned up to berating Prince Charles during his Greek island cruise by claiming that his mother, Queen Elizabeth II, was responsible for executing her brother.Evi Zakou denied reports that her husband directly threatened Prince Charles with a harpoon gun while swimming off the remote Greek island of Nisiros.But she did say she gave him a piece of her mind when told to leave the area by his bodyguards."I told him (Prince Charles) his mother killed my brother. He was swimming in the water and then moved to the side of his boat. He was very close," said Mrs Zakou in a radio interview with CyBC yesterday.Royal security guards started to get the jitters when the Cypriot couple refused to vacate the area.This led to a tense and potentially dangerous face-off when a harpoon gun was brandished."I shouted ‘your mother hanged my brother’... then one of his bodyguards dived into the water and tried to board the boat," said Zakou."My husband got his harpoon gun and pointed it at the bodyguard," she added.Apparently, the bodyguard then went back to his boat and "brandished" a gun."It was still in its holster but then he threateningly put it on the seat next to him," said Zakou.Her brother was executed during the 1955-59 Eoka guerrilla struggle for independence from Britain. Andreas Zakou, 25, was hanged on August 9, 1956, after being arrested for carrying out an ambush on a group of Britons.The stand-off with Prince Charles happened on August 12, only three days after the anniversary of Andreas' death.Evi and her husband were fishing in their dinghy when the royal party approached in their vessel."Charles' boat was in the area and they were shouting at us to leave but we didn't see why we should leave because he was there," said Zakou yesterday.The irate couple did finally leave without any further trouble, "but I didn't say goodbye to him (Charles)," said the woman.On Sunday Prince Charles and his long-time lover Camilla Parker Bowles flew back to London from Athens on a private jet, courtesy of Greek billionaire John Liatsis on whose luxury yacht they enjoyed their first Greek island holiday together.
  • [08] 76 accidents over the holiday weekendTHERE WERE no traffic fatalities reported over the three-day holiday weekend from August 13 to 15, police said yesterday.A total of 76 traffic accidents were reported, three less than over the same period last year.Eleven of the accidents were serious and 13 slight, while 52 resulted in material damage only.The police said that a total of 33 people were hurt this year, 13 seriously and 20 slightly.Over the corresponding 1998 period, three people were killed, six seriously injured and eleven slightly injured. Fifty-nine accidents caused vehicle damage only.Police said that they were especially satisfied that there had not been any fatal accidents this year, and attributed this to the additional measures they took over the three-day weekend.Most of the accidents (31) occurred in the Limassol district, as in 1998.These included four serious accidents, four minor accidents and 23 incidents of vehicle damage.Thirty-seven of 1998s 79 accidents were in Limassol including two fatal accidents, one serious injury, three slight injuries and 31 incidents of material damage.
  • [09] Airline denies wasting thousands on free ticketsCYPRUS Airways yesterday defended itself against allegations that the company was wasting tens of thousands of pounds by giving away free tickets.A front page story in Haravghinewspaper yesterday said that the airline’s marketing department had requested 400 tickets from the company this year, half of which were given away for free and the other half at discounts of up to 50 per cent.The paper, mouthpiece of the communist Akel party, said that government and Cyprus Airways officials were often the beneficiaries of the free or discounted tickets.Haravghialso claimedtickets were being given away while the discounts provided to people travelling overseas for health reasons had been reduced from 50 to 30 per cent "because of the company's financial difficulties".The paper cited an example of free tickets worth £3, 000 being given to right-wing Disy's youth wing (Nedisy), "while other youth organisations do not get similar benefits or services".Cyprus Airways said that the company was "shocked and surprised" by the article.It said that the company gave away very few free tickets and that these were given based on objective criteria to Cypriot organisations for lottery purposes.Cyprus Airways said that the tickets were always for off-season flights, "so the financial cost to the company is minimal".The statement said that discounted tickets were also provided in the framework of cultural or charity events provided the airline was recognised as a sponsor and received the proportionate promotion.The company said that it had given Nedisy "a number of free tickets" in September 1996, but that this had been followed by a Cyprus Airways board decision that "any organisations belonging to other political parties represented in the House, and which would in the future organise informative campaigns on our national problem, will receive the same help from the company, provided that the campaigns were supported by the Press and Information Office and/or the Foreign Ministry.""The number of free or discounted tickets offered by Cyprus Airways is small in comparison to other airlines, while the commercial gain for the Company is noteworthy, as is the help it gives in this way to philanthropic and social purposes," the airline statement said.
  • [10] Cheaper flights to Greece ‘soon ’
  • [11] ‘Delicate prodding’ needed on issue of crumbling wallU.N. SOURCES said yesterday it will take some delicate official prodding, once the new UN chief of mission arrives in Cyprus, to get the Turkish Cypriots to begin fixing the crumbling Paphos Gate section of the Venetian walls around Old Nicosia.The Turkish Cypriots "haven't refused" to help fix the Paphos Gate section, the UN source said, but they have not yet agreed to help rebuild it either, he conceded."We have brought up the topic," the source said, "and since we didn't have their co-operation on building walls before, we are trying to build some kind of relationship with them... in general for the whole Turkish Cypriot-controlled areas."Once the desired momentum is achieved, "then we would do the more difficult area... not technically difficult, but politically difficult area," like Paphos Gate, the source said.The UN source said he did not think the Turkish Cypriots were deliberately dragging their feet on repairing the Paphos Gate section, so that its weed-grown gaps might remain an eyesore to tourists visiting the Republic.The Paphos Gate area is a problem, he said, solely "because it is located in or near the buffer zone", and not because of any Turkish Cypriot animosity towards Greek Cypriots.Antiquities Department Director Sophoclis Hadjisavvas recently cautioned that pedestrians and vehicles could be at risk if the Turkish Cypriot side continues delaying to such an extent that the Paphos Gate section crumbles much further. It needs urgent attention, he said.Under a three-year US grant of $15 million and a minor UN grant, work began several years ago on the Venetian wall on both sides of the UN buffer zone, and is continuing apace. It could be completed in two or three years, the UN source said."A large chunk" of the work has already been completed in the Republic, he said, adding that work on both sides had been subcontracted to private contractors.
  • [12] Katerina ‘comes home’ in TV ratings warANT1 has struck its main rival Sigma a blow in the television ratings war -- by poaching popular presenter Katerina Vati.Vati is host of Sigma's early evening magazine show Katerina, and is seen as one of local television's liveliest personalities."This is quite a scoop for ANT1," an industry insider commented yesterday.Vati in fact first stepped into the limelight with ANT1, as a reporter and news presenter. She moved to Sigma to front talk-shows about a year ago and is now ‘coming home’ to ANT1."ANT1 announces the commencement of an exclusive collaboration with Katerina Vati as from September 1, 1999," ANT1 trumpeted.A spokeswoman for the channel said she could not yet disclose what programme or programmes Vati would be presenting for ANT1.She said Vati had not been ‘stolen’ from Sigma. "Vati had concluded her contract with Sigma," she said.The spokeswoman would not disclose what Vati was being paid to return to ANT1.Competition between ANT1 and Sigma -- the island's leading private channels -- has been hotting up in recent months.Last year, Sigma poached Dimitris Mamas -- a popular roving crime reporter -- from ANT1. Top Sigma reporter Lefkos Christou was then ‘transferred’ in the opposite direction.

  • [01] Disillusioned Galanos quits Cyprus politicsBy Charlie CharalambousDISILLUSIONED party leader Alexis Galanos calmly turned his back on Cyprus politics for good yesterday.He told a news conference yesterday afternoon the reason for ending his career was because he felt local politics had changed for the worse.The silver-haired Galanos, who will turn 59 on August 30, has decided to step down from all political activity."It was time to make a decision because I disagreed with the mentality and the way political life was developing," Galanos said.The Cambridge graduate said he had no qualms about leaving the political arena after realising he could not change things "and I had nothing left to give".Sending a warning to others, he advised: "You cannot wait to die in your chair or for someone to kick you out."Galanos' scepticism about the future of Cyprus politics started to blossom after President Glafcos Clerides' decision to re-deploy the Russian S-300 missiles to Crete last December under intense international pressure."Maybe it was wrong not to leave when the S-300s were cancelled... to a large extent it diminished my enthusiasm because I continue to believe the cancellation gave the sense of a third invasion by Attila."Insiders have said that Galanos' political influence started to wane once he left the Diko party of House President Spyros Kyprianou in an acrimonious split during the presidential elections.Although Galanos backed the right horse in the 1998 elections he declined a ministerial position in the Clerides cabinet and decided to establish the Eurodemocratic Renewal Party.Rumours that Disy has poached many of his party members may partly explain his sudden change of heart."For those who don't want to receive free gifts from powerful protectors it's hard for them to survive," said Galanos, suggesting that his minnow of a party had been swallowed by the big fish of Disy.In a long and successful career, Galanos started out as deputy for Famagusta in 1976 to become President of the House of Representatives in 1991, a position he held until 1998.Between 1981 and 1996 he was re-elected as deputy for the Famagusta district, he was Diko's parliamentary spokesman for ten years, and he also chaired the influential House Finance Committee."The game of politics is like the stock market because it’s the anticipation of future co-operation which counts, not the past," was Galanos' parting shot yesterday.

    A:hover {color: #800000; font-family: Arial; font-weight: bold}

    Wednesday, August 18, 1999

    [02] Seismology chief allays fears of impending quakeBy Martin HellicarCYPRUS is notnext in line for a disastrous earthquake like the one that struck Turkey yesterday, local experts insist.Coming only days after a strong quake rocked the island, news of the huge quake in Turkey, which killed more than 1,000 people, raised fears that a similar disaster might be round the corner for Cyprus.But the acting head of the Geological Survey department, Sotiris Aphrodisis, dismissed such suggestions."The earthquake in Turkey has nothing to do with the tremor we had in Cyprus. This earthquake was very far away from Cyprus, in northwest Turkey," the government scientist said.He said the Turkish quake had been generated by a totally different fault system to the one responsible for tremors here."There is no connection at all" between the quake in Turkey and Cyprus, the seismologist said.Experts say seismic activity in the Cyprus area is coming to the end of a ten-year active cycle and should peter out in the next two years.In February 1995, two people were killed when an earthquake measuring 5.7 on the Richter scale hit the Paphos area. In October the following year a quake measuring 6.3 caused little damage and no fatalities.Wednesday's quake, measuring 5.8 on the Richter scale, caused no serious injuries but did damage a large number of buildings, especially in the Limassol area -- where the epicentre of the tremor was located.The quake was followed by dozens of aftershocks, many of them strong enough to be felt in Limassol and elsewhere.Aphrodisis said yesterday these aftershocks were now waning, although yesterday evening a strong aftershock measuring 4.8 was felt at 6.03pm in Nicosia and Limassol.Repairing the damage to homes caused by Wednesday's quake is expected to cost the state about £1.5 million. Some 3,000 applications for state subsidies to carry out repairs are anticipated, with more than 2,000 submitted already.Three apartment blocks in the Yermasoyia area have been evacuated after suffering serious quake damage. The worst hit area was the village of Arkounda, which was very close to the quake's epicentre.

    A:hover {color: #800000; font-family: Arial; font-weight: bold}

    Wednesday, August 18, 1999

    [03] Stock exchange trading resumes with a vengeanceBy Hamza HendawiTRADING on the Cyprus Stock Exchange has resumed with a vengeance following a week- long break ordered to clear a mountain of unprocessed transactions.As if making up for lost time, share prices on Monday leapt by 9.25 per cent to a record close of 317.47, then rose by another 2.27 per cent yesterday to close at 324.68.Volume on both days, however, did not quite match the ferocity with which the shares appreciated, registering £30.26 million on Monday and £33.60 million yesterday. The record for a one-day volume is £68.98 million, reached on July 28, the day share prices rose by a breath- taking 18.62 per cent.With trading in Bank of Cyprus titles suspended while its two-for-one share split is in the pipeline, focus was shifted to the Popular and Hellenic banks in yesterday's trade. Popular Bank finished the day up eight cents at £8.85 on a volume of £8.87 million, adding on to Monday's gains of £1.59. Hellenic, heading for a four-for-one split next month, notched up £1.11 to finish at £11.35 yesterday. On Monday, it rose by £1.37.The impressive showing of the past two days has cast off widespread doubts that the market's two closures -- last week's and a shorter break in late July -- would undermine investor confidence and project a negative image of the bourse's infrastructure.But, still, not all seems to be well on the market. Cyprus Stock Exchange Chairman Dinos Papadopoulos told the Cyprus Mailyesterday that brokerages have until tomorrow to clear transactions which he categorised as delayed for a month or more."Those who don't meet the deadline will not be allowed on the floor on Friday," he warned. Papadopoulos also called on investors experiencing delays in receiving documentation or certificates for their purchase of stocks to write to the Cyprus Stock Exchange with full details in order to allow the bourse's authorities to investigate their complaints.The Thursday deadline for clearing month-old transactions is likely to prolong the tug- of-war between brokerages and the market's authorities. Brokers insist that the delays would be eliminated if the market established a central depository, while the stock exchange argues that brokerage firms have failed to recruit and train new backroom staff to handle transactions.The number of transactions has rocketed from an average of 500 to about 4,000 a day since an automated trading system was introduced last May.Official sources, meanwhile, said yesterday that an investigation by the Securities and Exchange Commission (SEC) was continuing into last month's Initial Public Offering by Louis Cruise Lines Ltd.They said the investigation arose from complaints by investors and press allegations that some shares had been set aside from the IPO for certain individuals. The sources, however, said the complaints are likely to be the result of confusion on the part of some investors between the IPO and the company's private placement of shares.The SEC is also known to be investigating complaints by some investors alleging that they had not received their share certificates or were still awaiting their unused tender money.The flotation of Louis Cruise Lines was eagerly awaited by investors on the island, but the listing of the company has been mired in intense controversy since its titles hit the market on August 3. The flurry of negative publicity and allegations of sleaze began when two company executives, one of them Managing Director Stelios Kiliaris, sold tens of thousands of shares and warrants on the first day of trading, casting a cloud on the company's prospects and, according to traders, pushing the price sharply lower on August 4 and 5.It later transpired that at least two political parties -- President Glafcos Clerides' Disy and House Speaker Spyros Kyprianou's Diko -- were given large numbers of shares in the private placement, sparking serious questions on what Louis hoped to gain from such a move and calls for the establishment of binding guidelines to govern relations between big businesses and politicians.The company said the two executives did nothing wrong and defended its decision to allot shares to Disy and Diko, saying it sought no favours or preferential treatment from politicians. Its explanations, however, have failed to quieten the public furore over its actions.Louis's IPO was worth £9.5 million at 40 cents a share, while its private placement was roughly the same size. Those fortunate enough to receive shares in the private placement were spared the disappointment caused by a pro ratadistribution of shares after the IPO was over- subscribed 53 times.Louis shares closed yesterday at £2.63, up 8 cents. On Monday, it rose by 25.50 cents.

    A:hover {color: #800000; font-family: Arial; font-weight: bold}

    Wednesday, August 18, 1999

    [04] Four remanded after drugs found in carDRUG Squad officers discovered three kilos of hashish hidden in a car they stopped on Nicosia's Acropolis Avenue late on Monday night, police said yesterday.Four men appeared before Nicosia District Court yesterday in connection with the seizure.Two of the men -- Alecos Ioannou, 35, from Strovolos, and Savvas Loizou, 31, from Anthoupolis -- were in the car when it was stopped at 11.50pm on Monday, the court heard.The other two suspects -- Loukas Kyriacou, 21, from Aradippou outside Larnaca, and Charalambos Hadjimarkou, 39, from Acropolis in Nicosia -- were arrested shortly after the drugs find.Police said Drug Squad officers intercepted the car after receiving a tip-off and placing the vehicle under surveillance. The three kilos of hashish were found hidden inside the passenger seat of the car, the court heard.Kyriacou had a small quantity of hashish on him when he was arrested and Loizou later handed over 120 grammes of the drug to officers, police added.All four suspects were remanded in police custody for eight days.In Larnaca meanwhile, the Famagusta District Court fined two holidaying British social workers £300 each for possession and use of hashish.The court heard that on August 11 police found 0.7 grammes of hashish, a cigarette end and three hand-made cigarettes in an Ayia Napa holiday flat rented by Simon Smith, 28, and Anthony Richards, 27. The suspects told police they had bought the drugs in Ayia Napa square for £16, the court heard.Before passing sentence, presiding judge Leonidas Kalogirou spoke of the "evils" of drug use. He said local courts were particularly sensitive on the issue because illegal narcotics "threaten the very existence of our people".

    A:hover {color: #800000; font-family: Arial; font-weight: bold}

    Wednesday, August 18, 1999

    [05] Athlete drowned after hitting his head in sea-bedTHE YOUNG Omonia handballer and national guardsman who died after an early morning swim with friends at the weekend drowned after hitting his head on the sea-bed, state pathologist Sophoclis Sophocleous said after performing an autopsy.Sophocleous said he found a small cut on the head of 20-year-old George Andreas Loizides,and this indicated that he had knocked himself unconscious and then drowned.Friends of the victim who were at Vrissi beach with him at 4.45am on Saturday confirmed that Loizides had been diving in the water, he said.When they realised that he had been missing for some time, Loizides' friends searched for 30 minutes before they found him floating unconscious. They applied first aid but were unable to revive him, and he was pronounced dead on arrival at Paralimni hospital.Loizides, who was captain of Omonia's junior handball team and lived in the Nicosia suburb of Strovolos, was buried on Monday.

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    Wednesday, August 18, 1999

    [06] Man arrested after alleged knife attack

    A 59-year-old Paphos hotel employee was arrested yesterday on suspicion of knifing a hotel visitor.

    Limassol man Marinos Iracleous complained to police that he had been attacked by a knife-wielding hotel employee while he was staying at the Apollon Hotel.

    According to Iracleous, 27, he got into an argument with Miltiades Charalambides, from Paphos, after the hotel employee asked him to get out of the Apollon's swimming pool at midnight on Monday. Charalambides allegedly then pulled a knife and cut him on the palm of his left hand.

    Iracleous, from Limassol, was yesterday treated in hospital for a cut hand.

    Charalambides was later arrested by police.

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    Wednesday, August 18, 1999

    [07] Woman owns up to confronting Prince CharlesBy Charlie CharalambousA CYPRIOT woman yesterday owned up to berating Prince Charles during his Greek island cruise by claiming that his mother, Queen Elizabeth II, was responsible for executing her brother.Evi Zakou denied reports that her husband directly threatened Prince Charles with a harpoon gun while swimming off the remote Greek island of Nisiros.But she did say she gave him a piece of her mind when told to leave the area by his bodyguards."I told him (Prince Charles) his mother killed my brother. He was swimming in the water and then moved to the side of his boat. He was very close," said Mrs Zakou in a radio interview with CyBC yesterday.Royal security guards started to get the jitters when the Cypriot couple refused to vacate the area.This led to a tense and potentially dangerous face-off when a harpoon gun was brandished."I shouted ‘your mother hanged my brother’... then one of his bodyguards dived into the water and tried to board the boat," said Zakou."My husband got his harpoon gun and pointed it at the bodyguard," she added.Apparently, the bodyguard then went back to his boat and "brandished" a gun."It was still in its holster but then he threateningly put it on the seat next to him," said Zakou.Her brother was executed during the 1955-59 Eoka guerrilla struggle for independence from Britain. Andreas Zakou, 25, was hanged on August 9, 1956, after being arrested for carrying out an ambush on a group of Britons.The stand-off with Prince Charles happened on August 12, only three days after the anniversary of Andreas' death.Evi and her husband were fishing in their dinghy when the royal party approached in their vessel."Charles' boat was in the area and they were shouting at us to leave but we didn't see why we should leave because he was there," said Zakou yesterday.The irate couple did finally leave without any further trouble, "but I didn't say goodbye to him (Charles)," said the woman.On Sunday Prince Charles and his long-time lover Camilla Parker Bowles flew back to London from Athens on a private jet, courtesy of Greek billionaire John Liatsis on whose luxury yacht they enjoyed their first Greek island holiday together.

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    Wednesday, August 18, 1999

    [08] 76 accidents over the holiday weekendTHERE WERE no traffic fatalities reported over the three-day holiday weekend from August 13 to 15, police said yesterday.A total of 76 traffic accidents were reported, three less than over the same period last year.Eleven of the accidents were serious and 13 slight, while 52 resulted in material damage only.The police said that a total of 33 people were hurt this year, 13 seriously and 20 slightly.Over the corresponding 1998 period, three people were killed, six seriously injured and eleven slightly injured. Fifty-nine accidents caused vehicle damage only.Police said that they were especially satisfied that there had not been any fatal accidents this year, and attributed this to the additional measures they took over the three-day weekend.Most of the accidents (31) occurred in the Limassol district, as in 1998.These included four serious accidents, four minor accidents and 23 incidents of vehicle damage.Thirty-seven of 1998s 79 accidents were in Limassol including two fatal accidents, one serious injury, three slight injuries and 31 incidents of material damage.

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    Wednesday, August 18, 1999

    [09] Airline denies wasting thousands on free ticketsCYPRUS Airways yesterday defended itself against allegations that the company was wasting tens of thousands of pounds by giving away free tickets.A front page story in Haravghinewspaper yesterday said that the airline’s marketing department had requested 400 tickets from the company this year, half of which were given away for free and the other half at discounts of up to 50 per cent.The paper, mouthpiece of the communist Akel party, said that government and Cyprus Airways officials were often the beneficiaries of the free or discounted tickets.Haravghialso claimedtickets were being given away while the discounts provided to people travelling overseas for health reasons had been reduced from 50 to 30 per cent "because of the company's financial difficulties".The paper cited an example of free tickets worth £3, 000 being given to right-wing Disy's youth wing (Nedisy), "while other youth organisations do not get similar benefits or services".Cyprus Airways said that the company was "shocked and surprised" by the article.It said that the company gave away very few free tickets and that these were given based on objective criteria to Cypriot organisations for lottery purposes.Cyprus Airways said that the tickets were always for off-season flights, "so the financial cost to the company is minimal".The statement said that discounted tickets were also provided in the framework of cultural or charity events provided the airline was recognised as a sponsor and received the proportionate promotion.The company said that it had given Nedisy "a number of free tickets" in September 1996, but that this had been followed by a Cyprus Airways board decision that "any organisations belonging to other political parties represented in the House, and which would in the future organise informative campaigns on our national problem, will receive the same help from the company, provided that the campaigns were supported by the Press and Information Office and/or the Foreign Ministry.""The number of free or discounted tickets offered by Cyprus Airways is small in comparison to other airlines, while the commercial gain for the Company is noteworthy, as is the help it gives in this way to philanthropic and social purposes," the airline statement said.

    [10] Cheaper flights to Greece ‘soon ’

    CHEAPER flights to Greece may soon be available as a first step in the liberalisation of the airline industry, the Commerce, Tourism and Industry Minister said yesterday.

    Nicos Rolandis told CyBC that the government felt it was important for flights to be liberalised "as soon as possible".

    Currently, Cyprus Airways and Olympic Airways are the only companies offering direct flights from Cyprus to Athens.

    Rolandis was commenting on reports yesterday that £50 flights to Athens would be available by the end of 1999.

    He said that one reason behind promoting liberalisation was because of EU regulations against monopolies, "and secondly because it is not right that Cypriots and tourists should be charged so much because of this monopoly".

    It was much cheaper for Greeks to buy tickets to London and other European destinations than to come to Cyprus, he added.

    Rolandis would not say which companies were interested in expanding their routes to include Larnaca to Athens, but he confirmed that Cyprus Airways was aware that a change in the status quo was imminent.

    "The staff will have to help," he said. "The company will have to defend itself perhaps with an aggressive tactic such as offering a wider range of routes."

    "Tourism has a lot to gain, the average Cypriot citizen has a lot to gain, Greeks visiting Cyprus for any reason have a lot to gain, " Rolandis said.

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    Wednesday, August 18, 1999

    [11] ‘Delicate prodding’ needed on issue of crumbling wallU.N. SOURCES said yesterday it will take some delicate official prodding, once the new UN chief of mission arrives in Cyprus, to get the Turkish Cypriots to begin fixing the crumbling Paphos Gate section of the Venetian walls around Old Nicosia.The Turkish Cypriots "haven't refused" to help fix the Paphos Gate section, the UN source said, but they have not yet agreed to help rebuild it either, he conceded."We have brought up the topic," the source said, "and since we didn't have their co-operation on building walls before, we are trying to build some kind of relationship with them... in general for the whole Turkish Cypriot-controlled areas."Once the desired momentum is achieved, "then we would do the more difficult area... not technically difficult, but politically difficult area," like Paphos Gate, the source said.The UN source said he did not think the Turkish Cypriots were deliberately dragging their feet on repairing the Paphos Gate section, so that its weed-grown gaps might remain an eyesore to tourists visiting the Republic.The Paphos Gate area is a problem, he said, solely "because it is located in or near the buffer zone", and not because of any Turkish Cypriot animosity towards Greek Cypriots.Antiquities Department Director Sophoclis Hadjisavvas recently cautioned that pedestrians and vehicles could be at risk if the Turkish Cypriot side continues delaying to such an extent that the Paphos Gate section crumbles much further. It needs urgent attention, he said.Under a three-year US grant of $15 million and a minor UN grant, work began several years ago on the Venetian wall on both sides of the UN buffer zone, and is continuing apace. It could be completed in two or three years, the UN source said."A large chunk" of the work has already been completed in the Republic, he said, adding that work on both sides had been subcontracted to private contractors.

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    Wednesday, August 18, 1999

    [12] Katerina ‘comes home’ in TV ratings warANT1 has struck its main rival Sigma a blow in the television ratings war -- by poaching popular presenter Katerina Vati.Vati is host of Sigma's early evening magazine show Katerina, and is seen as one of local television's liveliest personalities."This is quite a scoop for ANT1," an industry insider commented yesterday.Vati in fact first stepped into the limelight with ANT1, as a reporter and news presenter. She moved to Sigma to front talk-shows about a year ago and is now ‘coming home’ to ANT1."ANT1 announces the commencement of an exclusive collaboration with Katerina Vati as from September 1, 1999," ANT1 trumpeted.A spokeswoman for the channel said she could not yet disclose what programme or programmes Vati would be presenting for ANT1.She said Vati had not been ‘stolen’ from Sigma. "Vati had concluded her contract with Sigma," she said.The spokeswoman would not disclose what Vati was being paid to return to ANT1.Competition between ANT1 and Sigma -- the island's leading private channels -- has been hotting up in recent months.Last year, Sigma poached Dimitris Mamas -- a popular roving crime reporter -- from ANT1. Top Sigma reporter Lefkos Christou was then ‘transferred’ in the opposite direction.

    © Copyright Cyprus Mail 1999

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