17/09/2002 08:52
Major issue of today’s financial press is the investigation undertaken by the Parliamentary Audit Sub-committee to examine whether the amount of 181 million pounds liquidated and drawn abroad during 1999-2000 by foreign investors, companies and individuals, indeed belonged to foreign investors. In addition, particularly interesting is the revealing evidence about the humiliating levels of the Stock Exchange trading volumes. A striking example is the share of a listed company, whose volume from the beginning of 2002 until the 13th of September just reached the amount of 14 pounds.
The “Economy” inset of newspaper “Alithia” under the title “New Investigation: Were they really the foreign companies that drew abroad the 181 million pounds?” reports that the Parliamentary Audit sub-committee examines whether the above amount of 181 million pounds did belonged to foreign investors. The president of the sub-committee confirms the information, adding that all companies’ Board of Directors will be asked to give explanations next week.
Ealsewher, the newspaper also mentions that the American authorities have informally asked for the extradition of Lykourgos Kyprianou, president of Globalsoft, a request rejected by the Cypriot government.
The “Economy” inset of newspaper “Phileleftheros” under the titles “Investors remain uninvolved” and “ The volume of ten shares totaled 130,000 pounds during 2002” deals with CSE’s volumes. It reports that the daily volume of the twenty less marketable shares reached 250 pounds, while, this low volume is not only related to the lack of investors’ interest but primarily to the great decline of prices. The report contains interesting data, including the specific listed company, whose stricking volume totaled 14 pounds.
Then, the inset refers to the interim dividend that will be submitted by the Cyprus Forest Industries and Vasilikos Cement Works.
The “Economy-Stock Exchange” inset of newspaper “Simerini” under the title “Price hike in basic goods” quotes that the results of the market research carried out by Cyprus Consumers Association in Nicosia and Limassol are expected to come out by Thursday. The main aim of the research was to indicate price hikes in Cyprus and the phenomenon of profiteering. The report also refers to the 4-day boycott in fruit and vegetables that takes place in Greece.
The inset underlines the issue of the Pancyprian Association of Securities and its request for the settlement of the estimated 500 million pounds investment debts.
The “Economy” inset of newspaper “Alithia” under the title “New Investigation: Were they really the foreign companies that drew abroad the 181 million pounds?” reports that the Parliamentary Audit sub-committee examines whether the above amount of 181 million pounds did belonged to foreign investors. The president of the sub-committee confirms the information, adding that all companies’ Board of Directors will be asked to give explanations next week.
Ealsewher, the newspaper also mentions that the American authorities have informally asked for the extradition of Lykourgos Kyprianou, president of Globalsoft, a request rejected by the Cypriot government.
The “Economy” inset of newspaper “Phileleftheros” under the titles “Investors remain uninvolved” and “ The volume of ten shares totaled 130,000 pounds during 2002” deals with CSE’s volumes. It reports that the daily volume of the twenty less marketable shares reached 250 pounds, while, this low volume is not only related to the lack of investors’ interest but primarily to the great decline of prices. The report contains interesting data, including the specific listed company, whose stricking volume totaled 14 pounds.
Then, the inset refers to the interim dividend that will be submitted by the Cyprus Forest Industries and Vasilikos Cement Works.
The “Economy-Stock Exchange” inset of newspaper “Simerini” under the title “Price hike in basic goods” quotes that the results of the market research carried out by Cyprus Consumers Association in Nicosia and Limassol are expected to come out by Thursday. The main aim of the research was to indicate price hikes in Cyprus and the phenomenon of profiteering. The report also refers to the 4-day boycott in fruit and vegetables that takes place in Greece.
The inset underlines the issue of the Pancyprian Association of Securities and its request for the settlement of the estimated 500 million pounds investment debts.
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