The European Commission has adopted on 5 September a Communication entitled “Promoting young people’s full participation in education, employment and society”. The document, prepared jointly by Commissioners Ján Figel’ and VladimÃr Å pidla, has become an example of cross-sectoral approach to youth policy in the EU, covering a broad range of issues from education through to
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…Foreigners seen buying 6000 housing units in Cyprus  The property market in Cyprus has seen strong price appreciation in recent years, with high end prices in Nicosia, Limassol and Larnaca doubling in the past four years and tripling in Paphos. The property market has been supported by the recovery in the Cypriot economy in
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The banking system in the Republic of Serbia (BB-/Stable/B) is considered to be riskier than its neighboring countries, the Republic of Bulgaria (BBB+/Stable/A-2) and the Republic of Croatia (foreign currency, BBB/Stable/A-3; local currency, BBB+/Stable/A-2), due to political and macroeconomic uncertainties, Standard & Poor’s Ratings Services noted in a report published entitled, “Bank Industry Risk Analysis:
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The Cyprus Council of Ministers approved the Draft 2008 State Budget, which will be submitted to the House of Representatives for a final approval before the end of 2007. The Draft 2008 State Budget provides for total revenue of CYP 3.27 bln compared to CYP 3.11 bln in 2007 and for expenditure of CYP 3.85
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The Statistical Service has produced its first full breakdown of real GDP growth in the second quarter, showing real GDP growth of 3.7% on the back of very strong growth of financial services, as well as tax-induced purchases of cars. For the first six months of the year, real GDP growth was put at 3.84%
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Nonfarm payrolls unexpectedlyfell by 4.000 in August as opposed to expectations for a 108.000 growth raising the prospect of a rate cut by the FOMC on September 18, 2007, which sent the dollar sharply lower. Employers cut 4,000 workers from payrolls, compared with a revised gain of 68,000 in July that was smaller than previously
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The number of unemployed in Cyprus registered at the District Labour Offices on the last day of August 2007, reached 11,783 persons, down from 12,191 persons in July 2007, marking a decrease of 408 persons. Cystat reported that the decrease was mainly recorded in the sector of education. In comparison with August 2006 a decrease
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On the basis of the results of the Passenger Survey, revenue from tourism reached CYP 121.4 mln (EUR 207.4 mln) in June 2007 compared with CYP 117.7 mln (EUR 201.1 mln) in the corresponding month of the previous year, recording an increase of 3.2%. For the period January – June 2007 revenue from tourism is
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Cyprus recorded a small fiscal surplus in the first half of 2007 according to preliminary data on the general government accounts for the period January-June 2007, compiled in accordance to EU concepts and definitions. Total revenue amounted to CYP 1,834.4 mln (17.8% increase compared to the corresponding period of 2006), while total expenditure reached CYP
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The dollar fell to a fresh low of $1.3799 against the euro following the surprise and unexpected 4.000 decline in US non-farm payrolls in August for the first time in four years, while gold traded above $700 per ounce, a new 16-month high. Analysts had expected a gain of 108.000 in non-farm payrolls and were
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