Industrial production fell 1.2% compared with the year earlier in June. For the period January – June 2010. the index dropped by 1.0% compared with the same period of the previous year. For manufacturing, the index for June 2010 fell by 2.1% compared with June 2009. Meanwhile, the industrial turnover index for May 2010 increased
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The general turnover value index for the period April – June 2010 recorded an increase of 3.8% compared with the corresponding period of 2009, according to the latest figures from the Statistical Service. The general turnover value index covers specific divisions and does not refer to the whole services sector of Cyprus economy. Accommodation and
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. By James Regan, Reuters The formation of Australia's Labor minority government, supported by independent and Green MPs, will see iron ore and coal miners hit by a new resource tax, but there is uncertainty over how much they will have to pay. * Gillard's proposed 30% tax on mining profits is due to start
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The total sales of petroleum products in July 2010 recorded an increase of 2.6% compared with the previous month. There was a large increase in sales of Unleaded Motor Gasoline, Liquefied Petroleum Gas, Aviation Kerosene and Gasoil for Marine use. A decrease was recorded in the sales of Asphalt, Light Fuel Oil and Gasoil for
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Australian Prime Minister Julia Gillard clung onto power on Tuesday, securing support from independent lawmakers to form a minority government after her Labor Party lost its majority at elections last month. Labor now has a one-seat majority in the 150-seat parliament after winning the support of three of the independents and one Greens MP. KEY
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Oil extended losses on Tuesday as the dollar strengthened and Tropical Storm Hermine showed no signs of disrupting crude or refining output around the Gulf of Mexico. U.S. crude for October tumbled as much as 1.2% to $73.73 and was down 60 cents at $74 a barrel at 0255 GMT, having extended losses in a
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The euro fell on Tuesday from a three-week peak against the dollar hit the previous day, as rekindled worries about the European banking sector prompted investors to cut risks. The euro fell 0.6% on the day to $1.2797 after triggering stop-loss orders in the $1.2850-60 area, as a Wall Street Journal report stoked fears about
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Barclays is expected to appoint Bob Diamond as its new chief executive in a shake-up at the British lender, media reports said on Tuesday. Diamond, who heads the group's investment banking arm Barclays Capital, will take over from John Varley at its annual meeting next March, the Financial Times said on its website. The 59-year-old
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President Barack Obama, scrambling to spur job creation, proposed a six-year plan on Monday to rebuild U.S. infrastructure with an initial $50 bln investment and prepared new business tax cuts. "We are going to rebuild 150,000 miles (240,000 km) of our roads — that's enough to circle the world six times. … We're going to
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Greek Prime Minister George Papandreou reshuffled his cabinet early on Tuesday to try to better deal with the debt crisis and signalled he would stay the fiscal course by leaving his finance minister unchanged. Less than a year since coming to power, Papandreou switched several ministers around in an effort to improve ministries dealing with
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