Cyprus’ budget deficit for 2010 declined by 0.7%, whereas public debt for 2010 increased by 2.8%, figures released today by Eurostat show. Cyprus’ budget deficit for 2010 declined to 5.3% of GDP from 6.0% in 2009, which in absolute numbers corresponds to 926 million euro, compared with 1.01 million in 2009. Public debt in Cyprus
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Britain and the United States plan to step up military pressure on Muammar Gaddafi on Tuesday, as the Libyan leader's army presses its bloody siege of the rebel-held city of Misrata. More than a month of air strikes in a British and French-led NATO mission to protect Libyan civilians have failed to dislodge Gaddafi or
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The leaders of Italy and France made a joint appeal to Syria on Tuesday to end violence against demonstrators, and French President Nicolas Sarkozy said the situation in the country was "unacceptable". "Together we send a strong call to Damascus authorities to stop the violent repression of what are peaceful demonstrations and we ask all
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After several years of strong growth, outbound tourism looks like it is beginning to decline. In March the number of residents returning from a trip abroad fell by 24% to 80,388, compared with 105,805 in the corresponding month of 2009. This was after a fall of 2.4% in February and an increase of 6.3% in
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Production in the construction sector fell by 8% in 2010, according to the latest data, having dropped by 10.6% in 2009. Within this total, building construction fell by 13.5%, whereas civil engineering rose by 13.3%, thanks no doubt to roadbuilding and marina projects. In the fourth quarter alone the production index fell by 10.7% compared
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Registrations of motor vehicles dropped for the 27th consecutive month in March, falling by 17.6% compared with the year earlier to reach 3,485. In the first three months of 2011, registrations fell by 11.2% to 9,959 in January – March 2011, from 11,213 vehicles in the same period of 2010. The fall in registrations of
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The euro slipped on Tuesday after European Central Bank Governor Jean-Claude Trichet said he shares the view that a strong dollar is in the interest of United States, a comment taken by some market players as showing frustration over the dollar's relentless fall and also an attempt to talk up the currency. Trichet also told
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Publishing group Pearson said it had agreed to buy U.S. education technology firm Schoolnet for $230 million in cash to expand further its digital learning footprint. Schoolnet's data-based tools serve more than 5 million U.S. students from pre-kindergarten through to secondary education in about a third of America's largest cities, Pearson said in a statement
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Silver tumbled on Tuesday and Asian shares pulled back from recent three-year highs in a bout of profit-taking before the Federal Reserve meeting this week where investors are seeking clues on when it plans to begin exiting its ultra-easy monetary policy. The drop in silver, triggered by an options expiry later in the day, spread
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– Sony tablet to use Android operating system – Tablets will allow use of PlayStation games – Sony says tablets to go on sale from autumn this year – Provides no details on pricing – Sony shares fall 2 percent in Tuesday's trading (Adds details) Sony launched its first tablet computers in an ambitious
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