The Statistical Service published full national accounts data for the third quarter last week, showing that some sectors of the economy are well past recession, while others remain in crisis. Overall real GDP grew by 1.6% compared with the same period of 2009, posting its best performance for almost two years. The agricultural sector was
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Industrial turnover rose rapidly in September according to the Statistical Service, rising by 9.6% over September 2009. Industrial production in the same period rose by 2.3%. In the manufacturing subsector, the turnover index rose by 3.6% in September 2010 compared with September 2009. For the period January-September 2010, the turnover index recorded an increase of
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A hospital in Israel has begun using Apple's iPad to enable medical staff to help treat patients, provide consultations and study X-rays and CT scans from afar. The Mayanei Hayeshua Medical Center, located in the largely ultra-orthodox Tel Aviv suburb Bnei Brak, said on Tuesday it is the first hospital to program the high-resolution, touch-screen
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The European Union stands ready to do more if needed to ensure the stability of the euro zone area, the president of the European Council, Herman Van Rompuy, said during a visit to Budapest on Tuesday. Van Rompuy said EU leaders have taken an impressive series of decisions to stabilise the euro, such as strengthening
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British public sector net borrowing unexpectedly surged in November to its highest on record, due to higher health, defence and EU spending, official data showed on Tuesday. The Office for National Statistics said public sector net borrowing, which smooths some of the monthly volatility in government revenue and spending, came in at a record 22.774
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Moody's Investor Service warned on Tuesday it may downgrade Portugal's A1 rating by one or two notches after a review, citing weak growth prospects and high borrowing costs. Lisbon has moved into the eye of the storm in Europe's debt crisis, with markets worried it will be next to take a bailout after Ireland and
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Snow and freezing temperatures grounded flights across northern Europe on Tuesday, while retailers fretted they would struggle to make up sales lost due to bad weather with just four shopping days to Christmas. Eurocontrol, the umbrella group for air-traffic control across 38 countries, said more services would likely operate on Tuesday after more than 22,000
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The European Commission has published a Communication which outlines the most serious tax problems that EU citizens face in cross-border situations and announces plans for solutions. According to a press release, issued on Monday, the Communication announces plans in some areas such as cross-border income, inheritance taxes, dividend taxes, car registration taxes and e-Commerce. The
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More residents of Cyprus traveled abroad in November this year, compared to last year’s figures. According to data from the Statistical Service of Cyprus, 73.541 residents of Cyprus returned from a trip abroad in November 2010 compared to 72.612 in the corresponding month last year, recording an increase of 1,3%. In November 2010 there was
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Government Spokesman Stepahnos Stephanou said that the Board of Directors of Cyprus Airways is working on a plan to restructure the company. The government expects to be informed about the plan and then it will be able to say more about this issue, the Spokesman said.
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