The education sector was worth just over EUR 880 mln in 2008, according to the latest figures from the annual report of the Statistical Service, Economic Statistics On Education. The value added in the sector rose by 11.2% over the previous year to EUR 880.2 mn compared with EUR 791.9 mln in 2007. Its contribution
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Sales of petroleum products in September 2010 recorded an increase of 14.5% compared with the previous month according to the Statistical Service. It said that a “considerable increase” was noted in the sales of Asphalt, Kerosene, Gasoil, Light and Heavy Fuel Oil and Gasoil Low Sulphur, while a decrease was recorded in the sales of
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Industrial production grew in the holiday month of August but performance has been uneven in recent months. The index of industrial production for August 2010 rose by 6.0% compared with August 2009, having fallen by 4.8% in July and 0.5% in June. The strongest growth rate was recorded by mining and quarrying, up 36.6%, followed
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The European Union will only sign up to a second phase of the United Nation's climate treaty if loopholes are closed and other big economies make deeper cuts to greenhouse gases, EU leaders agreed on Friday. "The European Union stands ready with an ambitious approach as regards emissions, provided other major emitters also take their
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The cost of insuring Greek and other peripheral bonds against default rose on Friday as higher-yielding euro zone issuers suffered with investors continuing to fret over fiscal problems. Five-year credit default swaps (CDS) on Greek government debt rose by 60 basis points to 815 bps, according to data monitor Markit. This means it costs 815,000
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The event putting investors' positions most at risk in the coming week is the very opposite of what they feared back in January. Then it was the "exit strategy" central bankers would employ to unwind the liquidity they had pumped into the world's economy to get it running again after the financial crisis. Now it
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Shortly after the passing of the world's beloved eight-legged soccer soothsayer, a Chinese film called "Kill Octopus Paul" is challenging the truth behind the oracle octopus who correctly predicted World Cup results. Director Xiao Jiang's fictional thriller follows a group of Chinese soccer enthusiasts who travel to South Africa to uncover an international betting cartel
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The Economic Sentiment Indicator (ESI) has improved further in both the EU and the Euro area in October 2010, however in Cyprus, after five months of continuous improvement, it has dropped. According to a report published by the EU Directorate General for Economic and Financial Affairs, the indicator increased by 0.5 of a point in
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President of the European Central Bank Jean-Claude Trichet called on Wednesday for prudence and cautiousness as regards the economic crisis. ''We never declare victory (on the economy),'' Trichet told a news conference at a Euromed meeting of central bankers from the euro zone and countries surrounding the Mediterranean Sea, taking place in Paphos, a coastal
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Piraeus Bank announces 1.05 bln euro capital boost Piraeus Bank <BOPr.AT>, Greece's fourth-largest lender, announced a 1.05 billion euros ($1.5 billion) cash call to better deal with stricter capital adequacy conditions and the recession. Hurt like other Greek banks by the country's debt crisis, Piraeus is aiming to reduce counterparty worries, regain access to wholesale
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