TTTTHHHHEEEE FFFFIIIINNNNAAAANNNNCCCCIIIIAAAALLLL MMMMIIIIRRRRRRRROOOORRRR TTTTHHHHIIIISSSS WWWWEEEEEEEEKKKK

Lombard

Airport

OTE

branch:

Lombard Natwest Bank opened its third branch, this time in Paphos.

The popular Diakopes 1993 holiday fair will be held on May 14-16 with 70% of the stands already sold, according to organiser Action Entertainment, whose Managing Director Tony Christodoulou pioneered the exhibition in 1990.

Following the deadlock in negotiations created by the bank employees’ union (ETYK) bank branches at Larnaca and Paphos airports will only operate weekdays and only 8am to 2pm. Similarly, taxi drivers also staged a strike saying that the current system at airports favoured companies or owners of more than one taxi license.

The Council of Ministers has rejected a rotating chairmanship at Cyprus Airways that would share the office between George Erotocritou of the Finance Ministry and George Hadjianastassiou of the Planning Bureau. Chairman Kikis Lazarides has said for quite some time that he plans to resign.

The Greek government is expected to announce the name of the foreign securities firm that will handle the flotation of 14% of the Greek Telecommunications Authority (OTE) on the Athens Stock Exchange that should help raise 90 bln drachmas for the state. Already, CSFB and Schroders have been appointed to place a 35% stake with institutional investors.

Holiday show:

banks:

CA headless:

privatisation:

Market review:

has

The CLR report on the Cyprus stock market said that the market continued its downtrend during the week, down 1.6%, with selling pressure mainly on banking and hotel stocks. Total trading volumes were lower at CYP 274,000 for the week. Bank of Cyprus was trading at 206.5 cents (-2c from week earlier), Popular Bank at 224.5 (-2c), Hellenic Bank at 266.5 (-10c) and Yialousa Savings at 83 (-1.5c).