Monthly Archives: May 2000

Archives May 31, 2000 posted by

Cyprus set to ban tobacco advertising

THE CABINET is today expected to approve legislation bringing Cyprus’ anti-smoking laws in line with EU norms and putting an end to cigarette advertising.

Health Minister Frixos Savvides outlined the anticipated changes during a World No-Tobacco Day news conference yesterday.

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Archives May 31, 2000 posted by

Louis and Globalsoft falls drag the market down

SHARE prices fell marginally yesterday as slight gains in most sectors were offset by a one percent slide in the sector representing blue chips Louis and Globalsoft.com.

The CSE all-share index was down 0.71 points, or 0.13 per cent to a close of 528.69. There were thin fluctuations, with an intraday high and low difference of just two points.

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Archives May 31, 2000 posted by

Moody’s downgrade follows IMF report

MOODY’S ratings agency yesterday cut Cyprus’s A-2/P-1 foreign debt and deposits ratings outlook to negative from stable, citing lack of timely fiscal reform.

The effective downgrade comes hard on the heels of a damning IMF report last week which warned the government to shore up its economy ahead of European Union accession scheduled after 2003.

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Archives May 31, 2000 posted by

Tourists dive for safety after boat blast

A PLEASURE cruiser went up in flames yesterday, injuring the captain and sending 41 tourists diving for their lives into the sea.

The glass-bottomed Lady Diana from Ayia Napa harbour had anchored about 500 metres off the beach at Konnos bay near Cape Greco in the Famagusta District to allow the passengers to have a swim.

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Archives May 30, 2000 posted by

Consumers hammered by soaring electricity bills

THE METEORIC rise in the cost of electricity is the latest burden to hit the consumer, spurred forward by increasing oil prices and a rising dollar.

Fixed since 1983 on the basis of £50 per metric tonne, but fluctuating according to the price of oil, Electricity Authority oil tariffs had enjoyed a record low in recent years.

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