Poland's foreign minister has appealed to Germany, the European Union's most powerful economy, to show leadership and avert the collapse of the euro zone. "There is nothing inevitable about Europe's decline. But we are standing on the edge of a precipice. This is the scariest moment of my ministerial life but therefore also the most
More
Former world champion Kimi Raikkonen will make his return to Formula One in 2012 after signing a two-year contract with Lotus Renault, the team said on Tuesday. The 32-year-old Finn won the world championship with Ferrari in 2007 but quit Formula One two years later and switched to rallying. "I'm looking forward to playing an
More
* Washington urges quick and decisive action * S&P may soon cut France's rating outlook to negative-report * Moody's says may cut EU banks' subordinated ratings * Italy's PM to explain reform plans; focus on debt auction Euro zone finance ministers are to agree on Tuesday the details of bolstering their bailout fund to help
More
EU Economic Affairs Commissioner’s Spokesperson Amadeu Altafaj described as “encouraging” the messages from Cyprus, Malta and Belgium regarding the austerity measures to be taken in order to constrain public expenditure and consolidate public finances. Last week Commissioner Olli Rehn said that the EU had sent warning letters to five member states, including Cyprus, that risk
More
On the basis of the results of the Passengers Survey, 99,601 residents of Cyprus returned from a trip abroad in October 2011 compared with 109,956 in the corresponding month last year, recording a decrease of 9.4%. In October 2011 there was an decrease of 5.7% on the trips of residents to Greece (27,816 in October
More
More than 50% of the enterprises with computers say that they have policies for reducing the amount of paper used in printing or copying according to the annual Statistical Service survey entitled Information and Communication Technologies Usage and E-Commerce in Enterprises 2011. The survey covered 1,430 enterprises with 10 or more employees in specific categories
More
The price index of construction materials reached 126.43 (base year 2005=100.00) in October, recording an increase of 0.24% over the previous month. For the period January – October 2011 the index rose by 4.17% compared with the same period of last year. Thus, the cost of construction is rising even while the prices of property
More
The industrial turnover index reached 111.7 in August 2011 (base 2005=100), recording an increase of 2.8% compared with August 2010, despite the explosion in July that led to four weeks of daily power cuts. The manufacturing subindex rose by 3.1% compared with August 2010. For the period January-August 2011, the index recorded an increase of
More
The euro zone's debt crisis has become the biggest threat to the global economy and a break up of the currency zone can no longer be ruled out, the OECD said on Monday, slashing its forecasts and urging the ECB to play a bigger role in defusing the crisis. The euro zone has already entered
More
Germany and France stepped up a drive on Monday for coercive powers to reject national budgets in the euro zone that breach EU rules, as a market rout of European debt eased temporarily on hopes of outside help for Italy and Spain. The OECD rich nations' economic think-tank said the European Central Bank should cut
More