October 16, 1998 12:00 AM

’60s sirens Elizabeth Taylor and Sophia Loren are both in the news. La Liz is now been immortalized as a $75 Mattel doll — as part of the toy company’s Timeless Treasures celebrity collection — in her 1963 “Cleopatra” garb. In July, Mattel will issue a “Father of the Bride” Liz. (She’s the bride.) Meanwhile, the Swiss national mint, calling La Loren “the ideal image of Italy throughout the world,” honored the star this week with a diamond-studded gold coin at festivities that marked the arrival of the euro and the phasing out of the lira in her native Italy.

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