By George Psyllides
THE BANKS and the Cyprus Stock Exchange (CSE) yesterday reported a smooth transition into 2000 with no Y2K-bug problems.
The banks and the CSE remained closed yesterday to test all their systems.
“So far, there has been complete absence of trouble. Banks have been testing their systems from January 1 and nothing untoward has come to light, ” said Andreas Phillipou, Chief Senior Manager at the bank supervision and regulation division of the Central Bank of Cyprus.
Systems were working so well that the banks had decided to give staff Monday afternoon off, he added.
The CSE, which had shut its server down on December 31 and restarted it on January 1, reported no problems either.
Tuesday’s hour-long session will go ahead as scheduled, a bourse official said.
The Telecommunications Authority (CyTA) and the Electricity Authority announced on Saturday that the New Year had rolled across the island smoothly and without problems.
A CyTA statement said its staff continued to be on standby carrying out tests to secure the normal operation of its network.
The Electricity Authority (EAC) reported that there had been absolutely no Y2K bug problem, either to the production, transfer, or distribution of power.
In its statement, the EAC said it had invited foreign experts, who, in cooperation with its own technicians, had carried out checks to all the equipment and certified it was Y2k compliant.
The EAC had began checking and upgrading its systems since 1997 so as to be fully prepared for the transition into the year 2000.
Cyprus Airways on Saturday successfully carried out two test flights.
The tests were conducted using both types of aircraft — Airbus 310 and 320 — currently in service with the airline.
On board the first flight, which flew over Beirut and Paphos, were company officials, including chairman Haris Loizides, and press covering the flight.
Loizides praised the company’s employees for working for almost four years to prepare the equipment for the Y2K.
“The results certify the high professional standard of Cyprus Airways’ staff, which has made the company one of the safest airlines in the world,” he said.
