European shares turned lower in early afternoon trade on Tuesday after U.S. Conference Board employment data fell in August, with losses in the European banking sector overshadowing gains in mining stocks. By 1406 GMT, the pan-European FTSEurofirst 300 index of top shares was down 0.2 percent at 974.13 points after being up as much as
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The EU-harmonised consumer price inflation rate fell for the second month in a row in August, dropping by 0.9%, having fallen by 0.8% in July. In 2008, the harmonised inflation rate in August was much higher, at 5.1 %, having peaked at 5.3% in July.
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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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Turkish Cypriots spent EUR 10.7 mln in Greek Cypriot shops in the first eight months of this year, according to the latest data from the credit card company JCC. JCC recorded the amount spent in the south using credit and debit cards issued by Turkish banks. Since the number of Turkish tourists arriving in Larnaca
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Moody's Investors Service has downgraded the bank financial strength rating (BFSR) of Bank of Kuwait and the Middle East (BKME), the sixth largest bank in the country, to D+ from C-. The D+ rating maps to a Baseline Credit Assessment (BCA) of Baa3. Consequently, BKME's long-term global local currency (GLC) and long-term foreign currency deposit
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Local credit card spending in Cyprus fell by 2% compared with the year earlier in the first eight months of 2009, according to data from the credit card company JCC. Local plastic card use by Cyprus residents was EUR 1,220,539,412 (EUR 1.2 bln) in January-August, having risen by 16% for the whole of 2008. In
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The outlook for the global beverage industry is stable, mainly due to producers' resiliency amidst the economic downturn, as well as Moody's belief that cash flow will be sustained in the near term in spite of weaker demand, Moody's Investors Service said in a new report. "Beverage producers have exhibited the resiliency amidst the economic
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Oil prices rose above $69 a barrel on Tuesday ahead of an OPEC meeting, which analysts said would see more target compliance rhetoric but no change in output limits. NYMEX crude for October delivery stood at $69.50 a barrel by 1005 GMT, up $1.48 from Friday's close. There was no settlement price on Monday because
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British bank Barclays Plc was fined 2.45 million pounds ($4 million) on Tuesday for failing to provide accurate transaction reports and flaws in its reporting procedures. Companies need to submit data for reportable transactions and failures by investment bank arm Barclays Capital could have damaged the Financial Services Authority's (FSA) ability to detect and investigate
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U.S. gold futures hit a six-month high of $1,000 and spot gold also rose to six-month high on Tuesday as the dollar's weakness, concerns about the sustainability of the global economic recovery and worries about inflation underpinned sentiment. Some market players were cautious about prices sustaining $1,000, however, saying the rally had been driven by
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