U.S. job creation probably picked up in August, signaling a steady pace of economic growth that would give the Federal Reserve ammunition to start scaling back its massive monetary stimulus this month. Employers are expected to have added 180,000 jobs to payrolls last month after creating 162,000 in July, according to a Reuters survey of
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China shares crept towards three-week highs early Friday, with Hong Kong markets also modestly higher, ahead of more August data that could deepen optimism that the world's second-largest economy is on a sounder growth path. Mainland Chinese share indexes were on track for a second-straight weekly gain, while the Hang Seng Index might have its
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Property sales in Cyprus fell by 46% in the first eight months of 2013 compared with the same period of the previous year, data released by the Department of Lands and Surveys show. During that period, the number of sales documents submitted to all district lands and surveys offices were 2,399 compared with 4,434 in
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The BRICS group of emerging economies will contribute $100 bln to a fighting fund to steady currency markets destabilised by an expected pullback of U.S. monetary stimulus, Russian President Vladimir Putin said on Thursday. China, holder of the world's largest foreign exchange reserves, will contribute the bulk of the currency pool. But it will be
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The European Central Bank left its key interest rate unchanged at 0.5% and said on Thursday it was ready to cut interest rates or pump more money into the euro zone economy if necessary to bring money market rates down and help the euro zone's economic recovery. But ECB chief Mario Draghi said the policymaking Governing
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Cyprus Minister of Finance Harris Georgiades has said that despite optimistic data contained in the first review of the implementation of a Memorandum of Understanding (MoU), the basis of an international rescue, the government will not issue a revised economic forecast to the better. In statements he made to the press after an Advisory Economic
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The Consumer Price Index (CPI) for August dropped marginally by 0,12 units or 0,10% to 117,92 units compared to 118,04 in July. The decrease is mainly due to drop in the cost of electricity, salaries of foreign housemaids and certain fresh fruit. Increases were recorded in the prices of certain fresh vegetables, petroleum products and
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A record 49 names are contesting the 18 board seats of the restructured Bank of Cyprus that will come out of the first consolidated shareholders’ meeting next Tuesday. Never before have so many names been put forward as candidates to the board of directors, with 12 of the current interim board members willing to stay
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European government bond yields were at near 1-1/2 year highs on Thursday and the dollar clung close to six week peaks on a combination of a better global economic outlook, nervousness about Syria and pending central bank meetings. Russia and China, meanwhile, both warned the U.S. ahead of the G23 meeting in St Petersburg that
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Egypt's interior minister survived an assassination attempt on Thursday when a bomb blew up as his convoy drove through Cairo's Nasr City district, state media and security officials said. Security sources said at least 10 people had been injured, but the minister, who lives in Nasr City, just outside the city centre, was not hurt.
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