Vassiliko Cement Works (VCW) reported a highly satisfactory increase in sales and profits during the first half of the year on the back of strong local demand for cement as the construction boom showed no signs of retreating. First half turnover surged 17.89% year-on-year to CYP 22.21 mln from CYP 18.84 mln a year ago

The Monetary Policy Committee of the Central Bank left interest rates unchanged following its meeting on Friday, with 3 members voting for maintaining rates at present level while 2 members voted to reduce rates. Central Bank Governor Christodoulos Christodoulou told reporters after the meeting that the key borrowing Lombard rate will remain unchanged at 4.25%,

Both euro-zone and EU25 GDP grew by 0.3% in the second quarter of 2005, compared to the previous quarter, according to first estimates released by Eurostat, the Statistical Office of the European Communities. In the first quarter of 2005, growth rates were +0.4% in both zones. The same figures show that real GDP growth in

Exports of cement rose by 19.1% year on year in the first seven months of the year, to total 95.857 tonnes, according to the latest data from the Statistical Service. In the May-July period, exports rose even faster, by 132% compared with the same period of the previous year. The boom in exports has somewhat

Prices of main input materials for the construction industry picked up again in July, rising by 4.0% compared with the same period of 2004, having risen by 3.5% in June. Construction materials prices are a key factor that affect house prices, as builders pass on the costs to end-buyers. For the year as a whole,