Kuwait and Cyprus said on Tuesday they would explore reciprocal investment opportunities, such as in energy and services, as they signed a deal to avoid double taxation of companies operating in the two countries. "We think that there are a lot of opportunities in Cyprus either with the government of Cyprus or directly with the
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Gold climbed 1.8%, its biggest one-day rise since May 11, to record highs on Tuesday as the dollar fell versus the euro and as recent volatility in the currency markets boosted demand for the metal as a safe store of value. An announcement by the Bank of Japan that it would create a pool of
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Proposed controls on mortgage lending in Britain are too restrictive and would lock out many would-be buyers from the housing market, the Council of Mortgage Lenders (CML) said on Tuesday. Half of all mortgages approved in Britain between 2005 and 2009 would have been blocked if lending curbs proposed by the financial regulator had been
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Tesco, the world's third-biggest retailer, believes the global economy is recovering strongly and growth in emerging markets will help to prevent developed economies from falling back into recession. The British group, which beat forecasts with a 14% rise in first-half underlying profit, also said on Tuesday it expected its loss-making U.S. business Fresh & Easy
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. Latvia's election last weekend showed voters can forgive — perhaps even reward — the toughest austerity measures if they are seen as necessary and voters do not blame those in power for the economic crisis. Prime Minister Valdis Dombrovskis and his coalition partners — formerly a minority government that pushed through Europe's toughest spending
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Two Russian-born scientists shared the 2010 Nobel Prize for physics for showing how carbon just one atom thick behaved, a discovery with profound implications from quantum physics to consumer electronics. Andre Geim and Konstantin Novoselov of the University of Manchester in England conducted experiments with graphene. One hundred times stronger than steel, it is a
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The official opening of Lidl Cyprus distribution centre took place on 27.09.10 at 19.00 by the Minister of Commerce, Industry and Tourism, Mr.Antonios Paschalides. The distribution centre is located on the industrial area of Aradippou II in Larnaca. A location of strategic importance for the supply of all Lidl stores. It, also, applies widely all
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The number of building permits authorised by the municipal authorities and the district administration offices during July 2010 stood at 763, according to the Statistical Service, marking a drop of 6.7% over the same month of 2009. These building permits provide for the construction of 1,028 dwelling units, a drop of 51.6% over the same
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Men in Cyprus earn more than EUR 2,000 per month on average according to the Statistical Services’ preliminary estimates for the second quarter, while women earn 25% less at EUR 1,636. The average monthly earnings of employees of both sexes during the second quarter of 2010 amounted to EUR 1,860. The data include the highly
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Industrial production continued to fare badly in July, as the index dropped by 4.8% compared with July 2009. During the period January – July 2010, the index recorded a decrease of 1.4% over the same period of the previous year. The manufacturing subsector in July recorded a decrease of 6.6% over July 2009.
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