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Cyprus News Agency: News in English (PM), 97-11-24

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <>


  • [01] Cyprus Stock Exchange
  • [02] Government accepts any UN procedure for Cyprus settlement
  • [03] DIKO continues discussions for presidential candidate

  • 1530:CYPPRESS:01

    [01] Cyprus Stock Exchange

    Nicosia, Nov 24 (CNA) -- The Cyprus Stock Exchange (CSE) All Share Index closed at today's stock exchange meeting as follows:
    CSE All Share Index                    75.62 (+0.69)
    Highest: 82.46 (2/1/97)
    Lowest : 73.90 (30/1/97)
    Sectural Indices
    Banks                                  87.45 (+1.03)
    Approved Investment Companies          59.33 (+0.87)
    Insurance Companies                    55.09 (+0.11)
    Industrial Companies                   72.11 (-0.77)
    Tourist Industries                     61.84 (-0.61)
    Commercial Companies                   39.09 (-0.58)
    Other Companies                        60.58 (+2.83)
    Trading Volume                         CYP 445414.815
    * The difference in brackets represents the percentage increase (+) or decrease (-) of the index from the previous stock exchange meeting.
    CNA AP/1997

    [02] Government accepts any UN procedure for Cyprus settlement

    Nicosia, Nov 24 (CNA) -- The government will accept any procedure the UN considers proper for a settlement to the Cyprus problem, Government Spokesman Manolis Christofides said today.

    He pointed out, however, that it is not the methodology used until now that did not bring about a settlement in Cyprus but the Turkish side's intransigence.

    Christofides also said international efforts to solve the Cyprus problem will end after UN resolutions are implemented.

    "The methodology and procedure followed during the peace talks in Troutbeck, US (in July) and Glion, Switzerland (in August) had been chosen by the Secretary-General and it's not for us to say if they were wrong," he said.

    "We are prepared to follow the procedure which the UN will propose," Christofides said, adding the government is willing to participate in any talks and negotiations for a Cyprus settlement.

    The Spokesman was commenting on statements made by Diego Cordovez, Secretary-General's Special Advisor on the Cyprus issue, that the methodology he had used in the summer peace talks was wrong.

    Cordovez was speaking at a press conference last Friday with which he concluded his first visit to Cyprus since his appointment earlier this year.

    "It is not the methodology that is to blame, but the lack of goodwill and the intransigence the Turkish side continues to show in every round of peace talks," the Spokesman said.

    What is important today, he added, is that the UN are planning to begin new and decisive negotiations immediately after the presidential elections of February 1998.

    President Glafcos Clerides and Turkish Cypriot leader Rauf Denktash accepted a proposal by Cordovez that he should visit the island again early March to discuss the peace initiative.

    Cordovez, who chaired the summer peace talks, warned that international interest in a Cyprus settlement will end if a solution is not found during next year's renewed effort.

    Invited to assess the UN envoy's position, the Spokesman said the last chance for a Cyprus settlement will be the one achieving its goal.

    "International interest should concentrate on the implementation of UN resolutions on Cyprus," Christofides said and reassured the government will participate in next year's negotiations with goodwill.

    Noting that the Cyprus problem is high in the international community's agenda, he stressed "the Cyprus resolutions can be implemented if this is the wish of the UN and influential governments."

    Turkish troops have been occupying 37 per cent of Cyprus territory since 1974, in violation of repeated UN resolutions calling for their withdrawal.

    CNA MM/MA/AP/1997

    [03] DIKO continues discussions for presidential candidate

    Nicosia, Nov 24 (CNA) -- Centre-right Democratic Party (DIKO) today decided its President's candidature for the 1998 presidential elections still stands.

    However, DIKO did not ruled out the possibility of supporting another candidate, with whom it has been holding consultations over the past few days, but whose name it did not disclosed.

    According to press reports, DIKO has been discussing with Attorney- General Alecos Markides the possibility of him contesting the elections, to be held February 1998.

    After a Central Committee meeting this afternoon, DIKO leader Spyros Kyprianou said the party rejects the possibility of supporting either Glafcos Clerides or George Iacovou.

    DIKO had supported Clerides' candidature in the 1993 elections and until recently participated in his government with five out of the cabinet's eleven Ministers.

    George Iacovou, an independent candidate, supported by left-wing main opposition party AKEL, had served as Foreign Minister for 10 years.

    He was in office for five years during Kyprianou's second term as President (1978 - 1988) and then carried on for the five years George Vassiliou, also contesting the elections, was President of the Republic.

    "We rule out the candidatures of Clerides and Iacovou and we are at an advanced stage of negotiations with another personality, who we believe could be elected," Kyprianou said.

    He expressed the view that the person his party has been holding discussions with can succeed in handling efforts for a solution to the protracted Cyprus problem.

    The DIKO President said what remains is for them to agree on a political programme, with emphasis on the Cyprus issue.

    Kyprianou also said the party has not abandoned the possibility of its President contesting the elections and added DIKO is expected to take its decisions on its presidential candidate by the end of next week. CNA MA/../1997

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