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Cyprus News Agency: News in English (PM), 99-02-09

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

From: The Cyprus News Agency at <>


  • [01] Cyprus Stock Exchange
  • [02] Athens - S-300 deal
  • [03] Turkey - European Court

  • 1700:CYPPRESS:01

    [01] Cyprus Stock Exchange

    Nicosia, Feb 9 (CNA) -- The Cyprus Stock Exchange (CSE) All Share Index closed at today's stock exchange meeting as follows:
          CSE General Index                         112.09  ( 2.12)
          Traded Value            CYP 7,758,491
          Sectural Indices
          Banks                   CYP 3,054,593     134.65 ( 3.14)
          Approved Investment
          Companies               CYP   613,955      73.57 ( 1.78)
          Insurance Companies     CYP   495,213      79.54 (-0.21)
          Manufacturing Companies CYP   219,045      99.27 ( 1.08)
          Tourism Companies       CYP   239,296      82.99 (-0.88)
          Trading Companies       CYP   681,443      52.18 ( 1.77)
          Other Companies         CYP   330,147      90.15 ( 0.06)
    The third column presents the percentage variation of the indices as compared to the last meeting.
    CNA MCH/1999

    [02] Athens - S-300 deal

    by Myria Antoniadou

    Athens, Feb 9 (CNA) -- Athens has undertaken the commitment to fully and immediately deploy Russian S-300 missile system on the island of Crete, according to the deal signed yesterday by Cypriot and Greek Defence Ministers, Yiannakis Chrysostomis and Akis Tsohatzopoulos.

    Chrysostomis said Greece has also undertaken all the responsibilities of the Cyprus-Russia deal on the missiles, and that Russian technicians and Cypriots trained on the system will go to Crete to train Greeks.

    The Cypriot Minister said that "Greece has undertaken, as a result of the deal it signed with Cyprus, to immediately deploy the S-300s on Crete, and is committed to maintain the missiles in full deployment".

    He also said that Greece "has undertaken all the commitments deriving from the deal between Cyprus and Russia".

    Regarding the forthcoming visit to Moscow, Chrysostomis said there would be no problems, since the Russian side has accepted the deployment of the missiles in Crete.

    "We are going (to Moscow) in order to amend the deal with Rozvoruzenye (the company manufacturing the missiles) in view of their deployment, possession and use of the S-300 by Greece", he said.

    Responding to questions, Chrysostomis said technicians and Cypriots trained on the missiles will go to Crete for as long as is necessary, to train Greeks.

    Chrysostomis stressed that the deployment of the system on Crete will be beneficial both for Cyprus and Greece.

    CNA sources indicated that on Thursday, Chrysostomis will present the deal at the cabinet meeting in Nicosia.

    Also, according to statements yesterday by Tsohatzopoulos, the missiles will remain the property of the Republic of Cyprus.

    The same sources said that during yesterday's meeting between Chrysostomis and Tsohatzopoulos, it was decided that Greek officials visit Cyprus on a more regular basis, beginning with the visit of Greek Defence Undersecretary, Demetris Apostolakis, at Easter.

    CNA MA/RG/MCH/1999

    [03] Turkey - European Court

    by Maria Myles

    Nicosia, Feb 9 (CNA) -- The Committee of Ministers of the Council of Europe rejected today a Turkish proposal to set up a joint commission, made up of Greek and Turkish Cypriots, to discuss and sort out issues relating to properties, Cyprus Ambassador to the Council Thalea Petrides has said.

    The proposal was presented at today's Committee meeting in a bid to give Turkey more time and possibly help it avoid payment for compensation to a Greek Cypriot, whose case the European Court of Human Rights heard and concluded last year.

    The Court ordered Turkey to pay Titina Loizidou over 400,000 Cyprus pounds (one pound is about two US dollars) for prevention of enjoyment of her property in the Turkish-occupied part of Cyprus.

    Petrides told CNA the issue will come up for discussion again on March 31, if Turkey does not comply with the Court decision.

    "We submitted a draft resolution which the Committee of Ministers should debate, possibly in one of its next meetings, and which calls on Turkey in public to pay the compensation," the Ambassador said.

    She said various countries, big and small, pointed out during the two- hour long meeting that "there is no chance that any alternative proposal can exempt Turkey from its obligation to pay Loizidou."

    During the discussion, it was stressed that the Court ruling must be implemented, irrespective of any other elements Turkey may deem are related to this case.

    "It was pointed out that there exist a forum in which Turkey's proposal can be discussed and that is the UN, which is dealing with the overall effort for a comprehensive settlement of the Cyprus question," Petrides told CNA.

    Replying to questions, she said Turkey was not given time to pay up because she had to pay when at the time of the Court ruling.

    Presenting her arguments to the Committee, Petrides said Turkey's position that Loizidou's case relates to the wider issue of properties was taken into account by the Court when considering.

    The Court, she said, rejected Turkey's position because the Court had ruled Loizidou was, is and will continue to be the legal owner of her property.

    "Turkey's proposal cannot be considered as a valid alternative proposal for the execution of the Court ruling," Petrides added.

    Loizidou was one of some 200.000 Greek Cypriots forcibly uprooted from their homes and properties by the Turkish invasion troops in 1974.

    CNA MM/GP/1999
    Cyprus News Agency: News in English Directory - Previous Article - Next Article
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