17/10/2002 09:15
The major issue that dominates today's financial press is the verdict of Nicosia High Court over the detention (or not) of GLC's president, Lykourgos Kyprianou.
The financial insets of the newspapers focus on the acquisition of 70 BP petrol stations by the company Hellenic Petroleum (ELPE), an agreement that needs the approval of the Minister of Commerce and the Competition Protection Committee.
The newspaper "Phileleftheros" under the title "The Court is to reach a decision today" highlights that the police insists on Mr Kyprianou's detention to avoid further communication with his partners, while his advocate rejects the specific request. On the other hand, the Public Prosecutor claims that million of pounds were lost during Kyprianou's presidency at Globalsoft.
The newspaper "Simerini" under the title "Court fight for Lykourgos" mentions that the procedure before the Provincial Court was quite unusual, while the representative of the Public Prosecutor, Maria Malachtou-Pampali and the counsel for the defense, Loukis Papaphilippou, "have done their best to cope with this sharp marathon procedure". Also, according to the investigating magistrate of the Financial Crime Department, the Central Bank did not approve the export of $3.6 million in the context of Comsyst A.D acquisition, as it had already requested company's evaluation by an international firm. Also, the Public Prosecutor disputes that the acquisition cost of Comsyst A.D was $8.2 million as mentioned in the documents presented to the Central Bank .
The newspaper "Alithia" refers to the export of currency and the involvement of GLC president, Lykourgos Kyprianou. According to the report, the police investigator proceeded to significant disclosures concerning companies' names and other data, as well as Central Bank's permission to export currency with false representations.
The financial insets of newspapers "Phileleftheros", "Simerini" and "Alithia" concentrate on the acquisition of 70 BP petrol stations and its other related operations in Cyprus by the company Hellenic Petroleum (ELPE), an agreement that needs the approval of the Minister of Commerce and the Competition Protection Committee.
The financial insets of the newspapers focus on the acquisition of 70 BP petrol stations by the company Hellenic Petroleum (ELPE), an agreement that needs the approval of the Minister of Commerce and the Competition Protection Committee.
The newspaper "Phileleftheros" under the title "The Court is to reach a decision today" highlights that the police insists on Mr Kyprianou's detention to avoid further communication with his partners, while his advocate rejects the specific request. On the other hand, the Public Prosecutor claims that million of pounds were lost during Kyprianou's presidency at Globalsoft.
The newspaper "Simerini" under the title "Court fight for Lykourgos" mentions that the procedure before the Provincial Court was quite unusual, while the representative of the Public Prosecutor, Maria Malachtou-Pampali and the counsel for the defense, Loukis Papaphilippou, "have done their best to cope with this sharp marathon procedure". Also, according to the investigating magistrate of the Financial Crime Department, the Central Bank did not approve the export of $3.6 million in the context of Comsyst A.D acquisition, as it had already requested company's evaluation by an international firm. Also, the Public Prosecutor disputes that the acquisition cost of Comsyst A.D was $8.2 million as mentioned in the documents presented to the Central Bank .
The newspaper "Alithia" refers to the export of currency and the involvement of GLC president, Lykourgos Kyprianou. According to the report, the police investigator proceeded to significant disclosures concerning companies' names and other data, as well as Central Bank's permission to export currency with false representations.
The financial insets of newspapers "Phileleftheros", "Simerini" and "Alithia" concentrate on the acquisition of 70 BP petrol stations and its other related operations in Cyprus by the company Hellenic Petroleum (ELPE), an agreement that needs the approval of the Minister of Commerce and the Competition Protection Committee.
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