Imports and exports boom

On the basis of preliminary estimates for foreign trade in February 2005, total imports/ arrivals rose by 31.5% year on year to CYP 209.6 mln, of which CYP 133.3 mln were arrivals

Building permit growth slows in Feb

The number of building permits authorised by the municipal authorities and the district administration offices during February 2005 rose by just 1.7% year on year to reach 775. The total value of

UAE’s Investbank upgraded

Capital Intelligence, the international emerging markets rating agency, announced on April 27 that it had increased the foreign currency long-term rating of United Arab Emirates’ Investbank to BB+ from BB in view

Retail sales plunged in January

Retail sales, both in terms of volume and value plunged sharply in January 2005, according to the Department of Statistics. The Turnover Volume Index of Retail Trade for January 2005 decreased by

Laiki issues positive forecast

The Laiki Group (CPB) issued a positive profit forecast announcing that the financial results for the first quarter of 2005 will show an improvement compared to the corresponding period of 2004. The

Central Bank denies knowledge of ERM2

But evidence seems to mount Following the Financial Mirror’s report that the Cyprus pound could enter the Exchange Rate Mechanism (ERM2) either on Monday May 2 or on Monday May 9, the

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