‘Pri­va­tise SGOs to boost CSE’, HB launches web­site

Financial Mirror (Cyprus) - - FRONT PAGE -

A sem­i­nar on emerg­ing fi­nan­cial mar­kets heard calls by ex­perts for the govern­ment to pri­va­tise its util­i­ties in or­der to boost the fledg­ling stock ex­change and make Cyprus an at­trac­tive mar­ket, while Hel­lenic launched its web­site be­com­ing the third bank on the Web, ac­cord­ing to the Fi­nan­cial Mir­ror is­sue 185, on Oc­to­ber 30, 1996.

Util­i­ties for CSE:

David Bai­ley of Fins­bury As­set Man­age­ment told the ‘Emerg­ing Fi­nan­cial Mar­kets’ sem­i­nar hosted by the em­ploy­ers’ group OEV, the Cen­tral Bank and the As­so­ci­a­tion of Com­mer­cial Banks that the best way to boost the Cyprus Stock Ex­change and at­tract for­eign fund man­agers is to start pri­vatis­ing state-owned util­ity com­pa­nies and list them on the CSE. He said Cyprus should fol­low the Lux­em­bourg ex­am­ple of list­ing 10,000 stocks and funds and be­com­ing a re­gional cap­i­tal mar­ket by the year 2000.

HB web­site:

Hel­lenic Bank be­came the third Cypriot bank on the In­ter­net with its own web­site hosted by Lo­gosNet. It in­cludes a weekly CSE re­port, daily CSE per­for­mance and the HBI in­dex. For­eign ex­change rates will fol­low.

Par­lia­ment ap­proved a govern­ment guar­an­tee for a $50 mln loan to Cyprus Air­ways, but the car­rier was crit­i­cised by MPs Kikis Kaza­mias and Tas­sos

CA loan:

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