Switzerland's deep recession unexpectedly eased in the second quarter thanks to an increase in private and public spending, while a drop in imports outstripped the decline in exports. Gross domestic product (GDP) fell by a seasonally-adjusted 0.3 percent in real terms compared with the first quarter, the State Secretariat for Economic Affairs (SECO) said on
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China's vast manufacturing sector kept up its steady recovery last month, ignoring the gloom engulfing the Shanghai stock market, a pair of surveys showed on Tuesday. The two indexes, compiled from polls of executives charged with purchasing materials, rose to a 16-month high as companies continued to benefit from the stimulus imparted by a 4
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Walt Disney Co <DIS.N> on Monday agreed to buy Marvel Entertainment Inc <MVL.N> for $4 billion in the year's biggest media deal, banking on Marvel's pantheon of superheroes to broaden its lineup of movie franchises that appeal to boys. Disney adds Spider Man, Iron Man and Thor to its roster of classic characters like Mickey
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In its annual report on Azerbaijan, Moody's Investors Service said the country's Ba1 credit rating — the highest level in the non-investment-grade range — reflects low GDP per capita and weak institutional strength set against very high government financial strength and low susceptibility to event risk. "Azerbaijan's challenges lie mainly in the areas of efficient
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. The Risk Watch Column DR ALAN WARING Many people are pondering the outcome of the huge turmoil in Iran following the recent presidential elections. From nearly 40 years’ Iran experience, I have learned of the near futility of making predictions. Always expect the unexpected in Iran. This article focuses instead on a risk analysis
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. By Patrick D. Heuchenne The basis of this outlook on Cyprus was stimulated by recent declarations made by Central Bank Governor Athanassios Orphanides who, in defence over responsibilities said, 'here we are talking about legislation which has essentially served us well for 40 years', with regards to the political row over announcements by Marfin
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Ticket sales “doing well” on Friday, Saturday The medieval castle in Paphos harbour has been closed to visitors in order to allow for workers to erect the stage and stands of this year’s opera, Lakme, to be performed by the National Opera of Sofia on September 4, 5 and 6. Ticket sales, according to promoters,
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Among Top 10 in purchasing power The most expensive cities in the world are Oslo, Zurich, Copenhagen, Geneva, Tokyo and New York, but Nicosia is not too far off, according to a purchasing power survey by Swiss banking giant UBS. The Cypriot capital ranks halfway at 37th among the 73 cities surveyed, just a notch
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. Once the Paphos opera is out of the way next weekend (the last major event to attract foreign tourists this year), Cyprus will be pushed off the travel radar screens and won’t return until next spring. And then only if we’re lucky. So, what do we do until then? Judging from the poor turnout
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The 9.5% drop in Cyprus tourist arrivals in the second quarter has been reflected in figures for accommodation services (hotels), where the Statistical Service reported a decline in turnover of 12.6% over the year earlier in the period April-June 2009. The broader sector of accommodation and food service activities (hotels and restaurants) recorded a milder
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