Cyprus might be a small country and its honorary excellences might not be internationally known, but it is my country and the honour is extremely important for me, Nobel Prize Winner Christoforos Pissarides said accepting tonight the Grand Cross of the Order of Makarios III, Cyprus’ highest award. President of the Republic of Cyprus Demetris
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The Spanish government reached an agreement with main labour unions and business groups late on Monday to lay the way for a comprehensive package of further reforms to stimulate a weak economy. The pact between the three groups was widely expected after they agreed to pension reform on Friday that will raise the retirement age
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Israeli police questioned the chief executive of Bank Hapoalim regarding a loan given to the bank's former chairman Dan Dankner, Israel's second-largest bank said on Tuesday. The bank in a brief statement to the stock exchange said CEO Zion Kenan was questioned on Monday regarding approval of the loan, which was extended by the bank
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Support is growing in the euro zone for the idea of giving Greece more time to pay back its EU bailout in an effort to avoid a default, although details still have to be pinned down. German Finance Minister Wolfgang Schaeuble, whose country is pivotal to any solution as Europe's strongest economy, did not rule
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The indeed of industrial production slipped for a second straight month in November, falling by 1.1% over the year earlier, having dropped by 3.6% in October. The manufacturing subsector fell by 3.2% in the same period. For the period January – November 2010, industrial production fell by 0.7% compared with the same period of the
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The data are still depressing for the housing market in Cyprus, with the number of building permits authorised by the municipal authorities and the district administration offices during November 2010 falling by 4.9% compared with the year earlier to 733. Building permits constitute a leading indicator of future activity in the construction sector. The total
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Data for December have confirmed that 2010 was another bad year for car sales, with total registrations of motor vehicles falling by 12.5% to 44,025 in 2010, from 50,291 in 2009. However, this was not quite as bad as the previous year, when a drop of 25.7% was recorded. Moreover, new cars fared rather better
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Retail trade rebounded in November according to provisional figures, having slipped in October. The index for retail trade volume rose by a provisional 4.6% over the year earlier in November, having slipped by 1.5% according to final data for October. For the period January-November, retail sales volumes are provisionally estimated to have stagnated compared with
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Sales of petroleum products fell by 1.7% in 2010 according to the Statistical Service. The main decline was recorded in the provisions of Gasoil to ships (down 27.8%), sales of Kerosene (down 25.2%), Gasoil (down 16.9%) and Unleaded Motor Gasoline 98 RON (down 6.6%). By contrast, an increase was recorded in sales of Asphalt (13.1%),
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British actor Henry Cavill, will finally get to don Superman's cape in the new Man of Steel movie, its distributor said. Cavill, 27, will play the dual roles of mild-mannered newspaperman Clark Kent and his high-flying alter ego in the film, which Warner Bros. will release in December 2012. Its formal title has not been
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