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Cyprus construction activity less robust than thought

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Construction activity in Cyprus was less robust than initially thought in 2007, according to the second provisional estimate for gross domestic product (GDP) issued by the Statistical Service Cystat. Although the overall growth rate remains that same, at 4.4% compared with 4.0% in 2006, Cystat has made various adjustments to the components following the receipt

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Japan, Euro zone ministers seek G7 message on forex

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Japanese and Euro zone finance ministers called for G7 finance leaders meeting next week to seek a curb on excessive exchange-rate movements, amid growing concern over the economic effects of a sliding dollar. “It is important for the G7 members to confirm their shared understanding that excessive foreign exchange rate moves are undesirable for economic

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