Cyta to open up Internet, Major wins in UK

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: