The Bank of England cut interest rates by 50 basis points on Thursday to a record low of 0.5 percent, and said it would buy assets worth 75 billion pounds to help the British economy by expanding the money supply. Announcing the start of "quantitative easing" measures employed when rates get near to their minimum,

Cypriot industry spent 0.3% of gross domestic product (GDP) on environmental expenditure in 2007 according to the results of a survey carried out by the Statistical Service, compared with an EU average of 0.4%. Total expenditure for environmental protection activities in industry in 2007 is estimated at EUR 41.5 mln, or 0.27% of GDP, compared

A collapse in exports and a fall in private demand and investment produced the deepest ever quarterly euro zone economic drop in the fourth quarter of 2008, data showed, as the ECB meets on interest rates. The European Union's statistics office confirmed its earlier estimate that quarter-on-quarter gross domestic product in the euro zone shrank

The index of industrial production for December 2008 reached 122.0 (base 2000=100) in Cyprus. For December 2008, the index recorded an increase of 1.9% compared to December 2007. For manufacturing, the index for December 2008 reached 119.2, recording a rise of 1.4% compared to December 2007. For the period January – December 2008, the index

Cypriot architects had a rough ride in the fourth quarter of 2008 according to figures on turnover for the fourth quarter of 2008 but accountants and lawyers were still recording a strong increase in turnover. According to the figures, the turnover value index of “Architectural, Engineering and other related activities” fell by 16.1% compared with

Oil fell more than a dollar towards $44 on Thursday, after surging nearly 9 percent in the previous session on a surprise drop in U.S. crude stocks that could signal recovering demand in the top energy consumer. A dip in equity markets in early European trade forced the deteriorating economic outlook back to the forefront,

British house prices fell 2.3 percent in February and by a record 17.7 percent year-on-year, taking average prices back to levels last seen in August 2004, mortgage lender Halifax said in its monthly survey on Thursday. The data is further gloomy news for the Bank of England's Monetary Policy Committee, which is expected to cut

Cyprus Foreign Minister Marcos Kyprianou has expressed the belief that 2009 will be a year of decisive developments with regard to efforts to solve the Cyprus question. According to the Athens News Agency (ANA), in statements in Melbourne where he is paying a visit, March 4-11, Kyprianou expressed “reserved optimism” about the outcome of direct

There are significant differences with regard to the views of the two communities concerning the question of properties and we shall come back to it, Cyprus President Demetris Christofias has said. In statements at the Presidential Palace, before leaving for his 21st meeting with Turkish Cypriot leader Mehmet Ali Talat, in the framework of direct