The trade balance of Cyprus during the period of January – November 2008 recorded a deficit of 5.7 billion euro according to data released today by Eurostat. Total exports of Cyprus between January and November 2008 were 1 billion euro (7% increased in comparison to 2007) whereas total imports amounted 6.7 billion euro (16% increased

The Cyprus Stock Exchange General index tumbled to a fresh five year low of 861.54, taking its losses since the start of the year to 21.8% as banks remained under heavy selling pressure, in tandem with a major decline in Greek stocks, which saw the XA General declining to levels not seen since March 2003.

Oil in New York fell to around $37 a barrel on Tuesday as bleak economic indicators turned the focus back to the worldwide slump in demand, outweighing lower supplies due to OPEC cutbacks. A Reuters poll showed confidence among Japanese manufacturers remained near record lows. That came a day after data showing the country's economy

The dollar rose broadly while the euro hit a more than two-month low on Tuesday, pressed by concerns over a recession in eastern Europe and the knock-on effect on European banks. However, the single currency pared some losses after data showed a surprise pick up in the German ZEW economic sentiment survey in February. The

The Statistical Service has announced the publication of the annual report Hotels and Restaurants Statistics for the year 2007, showing that the total sector is worth EUR 1.9 bln in gross output terms. The report provides data on the number of establishments, employment, labour costs and other expenses, gross output, value added and data for

The EU-harmonised consumer price inflation rate dropped to 0.9% over the year earlier in January 2009, having recorded an increase of 1.8% in December and 4.1% in January 2008. The consumer price inflation rate in January was 1.1%. The biggest increase was recorded in the price of food and non-alcoholic beverages, which rose by 9.9%