Major issues of today’s financial press are the problems faced by investors for transactions through the de-materialization system, the trade deficit and the industrial sector crisis.
The “Economy” inset of newspaper “Phileleftheros” under the title “Trade deficit to reach CYP 987.8 million” mentions that during the first six months of 2002 the total exports and imports of goods were reduced, compared to the same period of 2001 when trade deficit reached CYP 937.7 million. The report also highlights that between January and June 2002 the European Union supplied Cyprus with goods worth CYP 650.6 million or 51.6%, while during the same period EU countries ‘absorbed’ Cyprus exports of CYP 741.1 million or 57.1%, with the exception of ship and aircraft supplies.
Elsewhere, the newspaper deals with the CSE rises and reports that only 12 stocks fell.
The newspaper “Simerini” under the title “De-materialization in the spotlight” refers to stockbrokers and their standpoint that the process of transaction through the de-materialization system is difficult and prevents new investors from entering trading, as they are forced to open accounts with the Central Depository. On the other hand, the CSE supports that one out of two transactions realized concerns de-materialized titles. CSE’s listed companies reach 156, out of which 96 trades through de-materialized companies’ titles, while 60 of them trade with regular titles.
Elsewhere, the newspaper quotes that the representative of Airtours Group in Cyprus – a company that brings 30% of British tourists in the island – ensured that the Group is not to collapse.
The newspaper “Alithia” under the title “Police against uninsured vehicles” highlights that the police force it to take measures against uninsured vehicles within the next few days. According to the report, the charges announced to the Parliamentary Committee of Finance are well-grounded, while policemen that proceed to this kind of check have become even fewer.
The newspaper “Xaravgi” under the title “854 industries of clothing, footwear and suitcase manufacturing shut down” highlights that although in 1995 total exports in clothing and footwear reached CYP 51.1 million, in 2001 they fell 54% to CYP 23.7 million. According to the report, from 1995 until 2000, 854 companies of the three sectors have shut down. Specifically, from 1995 until 2000, 552 clothing industries (658 industrial estates) shut down! As far as footwear is concerned, although in 1995 industrial estates reached 162, in 2000 they declined to 88!
Elsewhere, the newspaper mentions that the Parliamentary Committee of Finance in the framework of the talks over the Budget of the Ministry of Commerce, Industry and Tourism, will discuss the issues of tourist decline, government’s ‘inexistent’ industrial policy, the fall of productivity and power policy.
The “Economy” inset of newspaper “Phileleftheros” under the title “Trade deficit to reach CYP 987.8 million” mentions that during the first six months of 2002 the total exports and imports of goods were reduced, compared to the same period of 2001 when trade deficit reached CYP 937.7 million. The report also highlights that between January and June 2002 the European Union supplied Cyprus with goods worth CYP 650.6 million or 51.6%, while during the same period EU countries ‘absorbed’ Cyprus exports of CYP 741.1 million or 57.1%, with the exception of ship and aircraft supplies.
Elsewhere, the newspaper deals with the CSE rises and reports that only 12 stocks fell.
The newspaper “Simerini” under the title “De-materialization in the spotlight” refers to stockbrokers and their standpoint that the process of transaction through the de-materialization system is difficult and prevents new investors from entering trading, as they are forced to open accounts with the Central Depository. On the other hand, the CSE supports that one out of two transactions realized concerns de-materialized titles. CSE’s listed companies reach 156, out of which 96 trades through de-materialized companies’ titles, while 60 of them trade with regular titles.
Elsewhere, the newspaper quotes that the representative of Airtours Group in Cyprus – a company that brings 30% of British tourists in the island – ensured that the Group is not to collapse.
The newspaper “Alithia” under the title “Police against uninsured vehicles” highlights that the police force it to take measures against uninsured vehicles within the next few days. According to the report, the charges announced to the Parliamentary Committee of Finance are well-grounded, while policemen that proceed to this kind of check have become even fewer.
The newspaper “Xaravgi” under the title “854 industries of clothing, footwear and suitcase manufacturing shut down” highlights that although in 1995 total exports in clothing and footwear reached CYP 51.1 million, in 2001 they fell 54% to CYP 23.7 million. According to the report, from 1995 until 2000, 854 companies of the three sectors have shut down. Specifically, from 1995 until 2000, 552 clothing industries (658 industrial estates) shut down! As far as footwear is concerned, although in 1995 industrial estates reached 162, in 2000 they declined to 88!
Elsewhere, the newspaper mentions that the Parliamentary Committee of Finance in the framework of the talks over the Budget of the Ministry of Commerce, Industry and Tourism, will discuss the issues of tourist decline, government’s ‘inexistent’ industrial policy, the fall of productivity and power policy.
3287.99
1275.09
