Cyta to open up In­ter­net, Ma­jor wins in UK

Financial Mirror (Cyprus) - - FRONT PAGE -

Cyta has bowed un­der pres­sure and an­nounced it will al­low In­ter­net ac­cess com­mer­cially, as only the Univer­sity of Cyprus is cur­rently linked to the world wide web, ac­cord­ing to the is­sue 118, on July 5, 1995.

Cyta said it will al­low Cypri­ots to have ac­cess to the In­ter­net by the mid­dle of Au­gust, charg­ing about 3.1c a minute and aim­ing to be­come a lead­ing ac­cess provider as other also join the mar­ket. The aim is to pro­vide the ser­vice through

Cyta on Net:

to

al­le­ga­tions Cyta’s Public Switched Tele­phone Net­work (PSTN) and not the Cy­ta­pac plat­form. An­dreas Eleft­he­ri­ades, Di­rec­tor of the Cyprus Col­lege, was crit­i­cal of the de­lay and said that he had spear­headed a cam­paign since 1987 to con­nect Cyprus to the In­ter­net.

UK Prime Min­is­ter John Ma­jor won the Con­ser­va­tive lead­er­ship race out­right, chal­lenged only for­mer Welsh Sec­re­tary John Red­wood. The Cen­tral Bank re­sponded har­bour­ing fi­nanc­ing de­spite the

Sanc­tions bust­ing:

of

Ma­jor

wins:

con­trols im­posed on for­mer Yu­goslavia, say­ing that only one of 138 al­le­ga­tions against sanc­tions bust­ing was sub­stan­ti­ated. Also, re­gard­ing the in­flux of funds from Rus­sia, the Cen­tral Bank said the to­tal of all for­eign de­posits was $3.5 bln.

The con­struc­tion of the new Li­mas­sol-Paphos high­way is ex­pected to be com­pleted by 1999. The pro­ject will in­clude a 900m tun­nel, while Bri­tain is con­tribut­ing CYP 7.5 mln to­wards the cost as it will al­le­vi­ate pres­sure from traf­fic go­ing through the base in Episkopi.

The state-owned Hous­ing Fi­nance Cor­po­ra­tion said that it low­ered in­ter­est rates by 0.5% and raised the cap for low-in­come house­hold loans to CYP 40,000 for the pur­chase of a first home. So far, CYP 13 mln had been is­sued in hous­ing loans.

Li­mas­sol-Paphos:

Low-cost

loans:

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