European stocks and German bond prices fell on Wednesday as robust U.S. economic data fanned speculation the Federal Reserve may taper its bond-buying programme. But analysts said the weakness in equity markets could prove short-lived as the growth momentum implied by Tuesday's figures for home prices and consumer confidence encouraged investors to focus on the
More
* How and why Russian 'big business' is using Cyprus as an Offshore Zone * By Makis Georgiou The Cypriot financial crisis has revealed profound problems not only in our country in particular but also in the European Union as a whole. Our small island has suddenly turned into an indicator of all of Europe’s
More
– France, Spain, Germany, Italy want plan for youth jobs crisis – Spain's Rajoy wants special deficit exemptions, more funds German Finance Minister Wolfgang Schaeuble warned on Tuesday that failure to win the battle against youth unemployment could tear Europe apart, and dropping the continent's welfare model in favour of tougher U.S. standards would spark
More
Chinese scientists have developed the first vaccine to protect children against a virus called enterovirus 71, or EV71, that causes the common and sometimes deadly hand, foot and mouth disease. The new inactivated EV71 vaccine, made by Beijing Vigoo Biological, was developed for use in the Asia-Pacific region, which accounts for most of the serious
More
Nike Inc is dropping its partnership with the Livestrong Foundation, the cancer charity founded by disgraced cyclist Lance Armstrong, the latest repercussion from the doping scandal that last year stripped him of his titles. Nike said on Tuesday it would end production of its Livestrong gear and apparel after the 2013 holiday line, concluding a
More
The sale of Greek branches of Cypriot banks to Piraeus Bank was set out by Nicosia’s international lenders as a precondition for the approval of Cyprus’ aid package, Central Bank of Cyprus Governor Panicos Demetriades said here on Tuesday. Speaking during a closed session of the House Committee on Institutions, Demetriades said that the cost
More
As if the Cyprus construction sector was not beleaguered enough, further difficulties came in April with a rise of input prices. The price index of construction materials rose by 0.49% in April 2013 to reach 124.65 (base year 2005=100,00). On the other hand, the index recorded a decrease of 1.51% compared with the same period
More
Sales of petroleum products dropped by 12.8% over the year earlier in the first four months of the year to 401,472 tonnes in January-April compared with 460,155 in the same period of 2012. In April, the first full month after the banking crisis, total sales fell by a less mild 7.1% to 29,201 tonnes. This
More
The decline in motor vehicle registrations deepened in April, with total registrations dropping by 36.8% over the year earlier, having fallen by 35.7% in March. The declines in March and April are the steepest on Sapienta Economics records going back to 2003. The number of motor vehicle registrations reached 6,135 in January – April 2013,
More
Cypriot households pay the most expensive electricity in the EU, according to figures by Eurostat, the statistical office of the European Union. In the EU27, household electricity prices rose by 6.6% between the second half of 2011 and the second half of 2012, after an increase of 6.3% between the second half of 2010 and
More