House prices in England and Wales rose for the first time in more than two years, adding to a raft of data suggesting conditions are levelling off as the economy regains its footing, a survey showed on Tuesday. The Royal Institution of Chartered Surveyors said its seasonally adjusted balance of surveyors reporting a rise in
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Asian stocks drifted back near one-year highs on Tuesday as investors looked past a trade spat between the United States and China, with exporter shares in Japan getting a lift as the yen's surge relented. The Nikkei average edged up 0.1 percent as companies such as Canon Inc bounced back from a slide sparked by
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The Statistical Service of Cyprus has announced the publication of the monthly report “Intra-Extra E.U Trade Statistics (Summarised Data)” for June 2009, showing that the trade deficit fell to EUR 3 bln in the first half of 2009 , compared with EUR 2.3 bln in the same period of 2008. The main developments in Cyprus
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Cyprus motor vehicle registrations tumbled by 32.4% in August, to 3,221, compared with 4,762 in the same period of 2008. Private saloon registrations were down 36.3%, while light goods vehicles were down 31.7%. For the period January-August, total registrations of motor vehicles fell by 23.7% to 35,921, from 47,065 in January – August 2008.
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Tourism arrival figures for August have confirmed what everyone in the sector already knew, namely that 2009 was a dreadful year for the tourism sector. On the basis of the results of the Passengers Survey, arrivals of tourists reached 291,583 in August 2009 a fall of 11.1% compared with the 328,100 recorded in August 2008.
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“Green shoots” appeared to be sprouting in the Cyprus construction sector in June, as building permits rose over the year earlier for the second straight month. The Statistical Service reported that the number of building permits authorised by the municipal authorities and the district administration offices during June 2009 stood at 818. This was 11.7%
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The economic situation has improved markedly since the second quarter, pointing to a better growth outlook for the second half of the year. But as economic activity at the end of 2008 and beginning of 2009 was worse than initially estimated, GDP is still expected to fall by 4% overall this year in both the
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The British banking sector's creditworthiness is set to remain under pressure for the next 12-18 months, as rising bad debts on the back of a weak economy weigh on lenders' profits, credit rating agency Moody's said. "Moody's maintains its negative outlook for credit conditions for the UK banking sector," Moody's said in a report published
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Stock markets slid on Monday and the dollar firmed against major currencies due to fears that a burgeoning U.S.-China trade row could damage the world economy just as it was getting back on track. U.S. President Barack Obama announced safeguard duties on tyre imports from China on Friday and China responded by signalling anti-dumping investigations
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The euro zone is emerging from recession, the European Commission said on Monday, although it kept a gloomy forecast for 2009 despite an improved outlook for the second half of the year. In its interim forecast, the European Union's executive said the economy of the 16 countries using the euro would contract by 4.0 percent
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