The industrial production in November 2012 reached 79.7 (base 2005=100), recording a decrease of 11.3% compared with November 2011 according to the Statistical Service. The manufacturing subindex fell in the same period by 10.0%. In the period January – November 2012 industrial production fell by 9.1% compared with the same period of the previous year.
More
**Sleight of hand in EUR 1.2 bln deduction for cocos** By Fiona Mullen, Director, Sapienta Economics Ltd Digging into the figures reported by Monday’s Phileleftheros (full story in hard copy only) reveals that there is a sleight of hand in the figure being reported on Pimco’s worst case scenario. Phileleftheros reported, no doubt in good
More
– Nissan shifts focus from EVs to hybrids – Toyota considers hydrogen fuel cells – EV demand falls far short of expectations – Are electric cars running out of juice again? Recent moves by Japan's two largest automakers suggest that the electric car, after more than 100 years of development and several brief revivals, still is
More
Two Russians and an Italian have been freed in Syria in exchange for three captured rebels after being held hostage for nearly two months, the Russian Foreign Ministry said on Monday. The ministry said Viktor Gorelov, Abdessattar Hassun and Mario Belluomo, who were taken hostage by rebel forces on Dec. 12, had been released on
More
Ferrari president Luca Di Montezemolo will have more than a moment's hesitation in answering his mobile if Felipe Massa rings on Tuesday. The memory of last year, when the Brazilian Formula One driver called him from the Jerez test track to give his first impressions of Ferrari's new car on day one, is still painful
More
European shares edged up but the euro fell and German bonds trimmed their losses on Monday as a resurgence of worries about Europe undermined positive sentiment stemming from stronger U.S. and Chinese economic data. However, the rising confidence in the global economic recovery underpinned oil and copper, although prices moved in narrow ranges at the
More
Government Spokesman Stephanos Stephanou called on Sunday for the termination of terrifying scenarios and speculations concerning the amount needed for the recapitalisation of the banking sector, maintaining that in any case the Cypriot public debt will be sustainable. Stephanou`s remarks came one day after the delivery of the final report by US investment consultancy firm,
More
Analysis of data from the plastic card company JCC Payment Systems show that the beleaguered retail sector earned EUR 18 mln from Turkish Cypriots (not including cash payments) in 2012, up from EUR 17.1 mln in 2011. The biggest winner was DIY stores, with spending up 12.1% to EUR 2.7 mln, followed by supermarkets, with
More
The Central Bank of Cyprus announced on Saturday that the Steering Committee of Cyprus has now received the final report on the diagnostic test for the capital needs of financial institutions in Cyprus from Pimco and Deloitte. However, the results will not be made public for over a month. “The results of the report will
More
There seems to be a link between the Greek economic crisis and an improvement in air quality, according to research published in the New Scientist magazine. The results of the study conducted by the Cyprus Institute (www.cyi.ac.cy ) on “Greek economic crisis has cleared the air”, suggests that there is a decline in air pollution
More