Outbound tourism fell in November whereas inbound tourism continued to record a healthy increase, according to the Passengers Survey. In November 69,768 residents of Cyprus returned from a trip abroad, which was 5.1% less than the 73,541 recorded in November 2010. Shrinking business with Greece might be a factor, as there was a drop of
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**Registered unemployment also up** The unemployment rate climbed to a record 7.6% in the third quarter of 2011 from 5.8% in the same quarter of 2010, according to the latest Labour Force Survey. The unemployment rate was higher for females (7.9%) than males (7.4%). Youth unemployment remains stubbornly high, with the unemployment rate for young
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Cyprus’ economic sentiment decreased in December 2011, mainly due to the deterioration of the business and consumers’ climate. The business climate in Cyprus deteriorated in December 2011 since the Economic Sentiment Indicator (ESI) decreased by 1.7 points, compared to November 2011. According to the Economic Research Centre (ERC) of the University of Cyprus, ESI has
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China launched a super-rapid test train over the weekend which is capable of travelling 500 kilometers per hour, state media said on Monday, as the country moves ahead with its railway ambitions despite serious problems on its high-speed network. The train, made by a subsidiary of CSR Corp Ltd, China's largest train maker, is designed
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A large group of U.S. doctors on Monday gave the green light for pediatricians to offer vaccines to close family members of babies who are too young to get shots themselves. The strategy, known as cocooning, is meant to block diseases from reaching the infant in the first place and is backed by the U.S.
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From floods that crippled countries, to mega cyclones, huge blizzards, killer tornadoes to famine-inducing droughts, 2011 has been another record-breaker for bad weather. While it is too early to predict what 2012 will be like, insurers and weather prediction agencies point to a clear trend: the world's weather is becoming more extreme and more costly.
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Europe faces another year of dismal economic performance in 2012 that will weigh on global growth, but emerging markets and the United States should at least keep the world economy moving in the right direction. There are several reasons why next year may be nothing to look forward to, according to Reuters polls from the
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Asian shares eased on Tuesday as investors squared positions in thin volume before U.S. markets reopen after a long weekend and investors see fresh data that could offer clues about prospects for the world's largest economy. MSCI's broadest index of Asia Pacific shares outside Japan slipped 0.3%. It is down 17% for the year, far
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Greece's fourth-largest lender Piraeus Bank decided on Friday to raise 400 million euros in fresh capital and hired Barclays Capital to arrange the sale of its Egyptian unit, as it scrambles for cash to cope with a debt crisis at home. Piraeus is the second Greek lender this week whose shareholders approved the sale of
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Cyprus and Russia have signed a bilateral deal for a 2.5-billion-euro loan to the Mediterranean island on Friday, the Cypriot finance ministry said, to help it refinance debt maturing next year. Russian Deputy Finance Minister Sergey Storchak and Cypriot Finance Minister Kikis Kazamias signed the agreement in Moscow. Disbursement of the first tranche of the
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