Flex­i­ble out­put, a need to mod­ernise and re­struc­ture

Financial Mirror (Cyprus) - - FRONT PAGE -

Pres­i­dent Clerides has called for flex­i­ble pro­duc­tiv­ity in or­der to be meet the Euro­pean chal­lenges ahead, while in a sim­i­lar tone, em­ploy­ers called for a need to mod­ern­ize and re­struc­ture, ac­cord­ing to the Cyprus Fi­nan­cial Mir­ror is­sue 109, on May 3, 1995.


Pres­i­dent Glaf­cos Clerides said in his ad­dress to the Em­ploy­ers Fed­er­a­tion (OEV) an­nual meet­ing that more spe­cial­ized and flex­i­ble pro­duc­tiv­ity, bet­ter mar­ket­ing and im­proved tech­nol­ogy is needed to meet the chal­lenges of the EU ac­ces­sion ac­quis com­mu­nau­taire. He said that a growth rate of 5% in 1994 and a 5.9% rise in ex­ports must not cre­ate il­lu­sions as Cyprus has a dif­fi­cult path of ad­just­ment and har­mon­i­sa­tion.



OEV Chair­man Micha­lakis Zi­va­naris said that dras­tic changes were re­quired in view of the lib­er­al­i­sa­tion of world trade and ser­vices, with both the pri­vate and public sec­tors re­al­is­ing their weak­nesses and striv­ing to cor­rect them. He added that the ris­ing costs of the civil ser­vice must be halted and rad­i­cal mod­erni­sa­tion in­tro­duced in all sec­tors. He pre­sented the an­nual Euro­pean Busi­ness Awards to Yianno­plast, Chris­tis Dairies, Bio­gena Phar­ma­ceu­ti­cals, AMI Knit­ting and Cloth­ing, and Finia Knitwear.

The friendly takeover by Paneuro­pean In­sur­ance of Phi­liki in a deal worth CYP 7.73 mln was the big­gest take-over in re­cent his­tory, said Ni­cos Sha­co­las. Sha­co­las and other in­vestors had se­cured a 59% stake and an op­tion to buy an­other 12%.





All cit­i­zens of Cyprus ap­ply­ing for a pass­port will now get one sim­i­lar in shape and colour to the smaller Euro­pean doc­u­ments, with 200,000 printed.

Ste­lios Kil­iaris re­signed as Trade Min­is­ter, cit­ing per­sonal rea­sons, through ru­mors sug­gested he had of­fers from the pri­vate sec­tor. Pres­i­dent Clerides swiftly ap­pointed Trans­port Min­istry Direc­tor Kyr­i­a­cos Christophi as the new Min­is­ter.

Kil­iaris quits:

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