Asian shares rose on Tuesday but gains were moderated by concerns over global growth prospects, especially in the world's second-biggest economy China, and expected weak U.S. corporate earnings. The MSCI index of Asia-Pacific shares outside Japan added 0.5%, pulled higher by Hong Kong and China shares which rose 1.1% and 2%, respectively, on hopes of
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Euro zone finance ministers launched their permanent 500 billion euro bailout fund on Monday but said Spain, the country widely expected to be first to draw on it, was taking steps to overhaul its economy and did not need a bailout for now. Arriving at a meeting in Luxembourg also set to discuss Greece and
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**But civil engineering racks up prices** The construction sector recorded its steepest fall on record in the second quarter, with the production index dropping by 25.9% over the same period of 2011, having declined by 17.9% in the first quarter. Construction production has fallen in double digits now for four straight quarters and has not
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The Statistical Service of Cyprus (CYSTAT) received the “Innovation award 2011 for the public sector” on October 3 for the innovative Cyprus Blaise Integrated Census System (CY-BICS) which was developed for the population census that took place in the Republic of Cyprus in October 2011. The Cyprus Innovation Awards were established by the Employers’ and
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Euro zone economy for 2013 is poised to contract by 0.1%, avoiding recession, Economist Intelligence Unit Regional Director for Europe Laza Kekic has said. Kekic, who was addressing the first session of an “Economist” conference in Nicosia on Monday, noted that a 2% contraction for 2012 and a contraction by a few decimal points for
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The European Commission President Jose Manual Barroso has called for compromise among the government, the political parties and the social partners in Cyprus with a view to reaching an agreement between Cyprus and the Troika of the European Commission, the European Central Bank and the International Monetary Fund over Cyprus’ application for financial assistance. Conveying
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The Greek manager of a Bahamas-flagged tanker carrying more than 32,000 metric tonnes of gasoline reported the vessel missing on Monday after it left Abidjan in the Ivory Coast unexpectedly in the early hours of Saturday. The tanker Orfeas, crewed by two Greeks and 22 Filipinos, had been expected to discharge its cargo at Abidjan.
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Cyber attackers have targeted communication networks on Iranian offshore oil and gas platforms in the past few weeks, but their attacks have been repelled, a state official was quoted as saying on Monday. Iran, the world's No. 5 oil exporter, has tightened cyber security since its uranium enrichment centrifuges were hit in 2010 by the
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Air France-KLM, Air Berlin and Abu Dhabi flag carrier Etihad, plan to offer passengers access to some of each other's services from Oct. 28 in a sign of improving relations between European and Gulf carriers. A code-share deal with Franco-Dutch airline Air France-KLM will enable Etihad customers to fly on KLM's daily Amsterdam-Abu Dhabi flight,
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Venezuela's socialist President Hugo Chavez comfortably won re-election on Sunday, quashing the opposition's best chance at unseating him in 14 years and cementing himself as a dominant figure in modern Latin American history. A fist-pumping Chavez led throngs of supporters in celebration from the balcony of the presidential palace – just months after cancer treatment
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