Local credit card spending with cards issued in Cyprus rose over the year earlier by 15% in October to EUR 186 mln, compared with an increased of 16% in September. JCC said that the increase was mainly owing to the use of JCC Smart, the online payment system. For the period January-October, local credit card
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**HICP also rises** After three months of decline, the consumer price inflation rate rose to 3% in October, from 2.4% in September. The main reason was an increase in housing, water, electricity and gas prices, which rose by 2.1% compared with the previous month and by 13.8% compared with the previous year. The Electricity Authority
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Tour operators organising trips to Britain are seeing an average 90 percent downturn in bookings during the London 2012 Olympics, a survey by an industry group said, with sports fans failing to compensate for those wanting to avoid a packed city. The warning has sparked a debate about the immediate impact on tourism of the
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Italian Prime Minister Silvio Berlusconi, under massive pressure to resign, faces a crucial vote on public finances in parliament on Tuesday which could sink his government if enough party rebels desert him. Berlusconi has denied reports that his resignation is imminent as he struggles to hold his centre-right coalition together, but the increased political uncertainty
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Asian shares wiped earlier gains and fell on Tuesday, weighed by concerns that surging bond yields could stifle debt-ridden Italy's fund raising ability and throw the euro zone deeper into financial turmoil, while Greece struggled to pick a new leader. MSCI's broadest index of Asia Pacific shares outside Japan fell 0.3%, reversing course after gaining
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Australia passed landmark laws on Tuesday to impose a price on carbon emissions in one of the biggest economic reforms in a decade and injecting new impetus into December's global climate talks in South Africa. Tuesday's vote in the upper house Senate made Australia the second major economy behind the European Union to pass carbon-limiting
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The deadly armaments blast that knocked out the main power station on July 11th and led to four weeks of power cuts took its toll on the retail sector in July, with volumes down 4.2% compared with July 2010. However, volumes recovered in August, with sales volumes increasing by 2.5% compared with August 2010, according
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After three months of decline, the consumer price inflation rate rose to 3% in October, from 2.4% in September. The main reason was an increase in housing, water, electricity and gas prices, which rose by 2.1% compared with the previous month and by 13.8% compared with the previous year. The Electricity Authority of Cyprus, which
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Unemployment rose again in October, with the number of registered unemployed rising by 6,101 compared with October 2010, or by 29.3% to 26,947. Unemployment also increased on a seasonally adjusted basis, to 31,022 persons compared with 30,108 in September. The Statistical Service said that the increase compared with the year earlier was mainly in the
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Europe has a new informal leadership directorate intent on finding a solution to the euro zone's debt crisis, but it has yet to prove its ability to come up with a lasting formula. Forged in the fire of a bond market inferno, the shadowy so-called Frankfurt Group has grabbed the helm of the 17-nation currency
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