The yen eased from a 15-year high on Wednesday on a report that Tokyo was considering weakening its currency, while world stocks fell for the fifth day on concerns over the global economy sliding back into recession. However, a better-than-expected German business sentiment reading from think tank Ifo helped lift European shares into the black.
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There is a rise in Cyprus’ trade deficit during the first five months of 2010, as compared to the corresponding period a year ago. Total imports from third countries and arrivals from EU member-states amounted in January-May 2010 to 2 billion 546 million, as compared to 2 billion 328,8 million euros in January-May 2009. Total
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Cyprus President Demetris Christofias has stressed that despite the Turkish side’s denial to accept proposals put forward by him, in the framework of the ongoing negotiations aiming to solve the Cyprus problem, the Greek Cypriot side will continue, in coordination with Greece, to work for their implementation. Christofias called on Turkey to make positive steps
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The 49th Wine Festival, held annually in the southern coastal town of Limassol, the main winegrowing region of Cyprus, will open its doors on Friday. The Wine Festival, to last until September 5, is hosted at the Limassol Municipal Park, as every year, with the participation of the four wineries of Limassol. Thousands of local
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Hellenic Petroleum, Greece's biggest refiner, said on Tuesday first-half profit dropped to 59 mln euros from 141 mln last year, hurt by the country's recession, taxes and the lower value of oil stocks. Net profit missed analysts' average estimate of 66.6 mln euros in a Reuters poll after a higher than provisioned one-off austerity tax
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First-half profit at Motor Oil, Greece's second-biggest refiner, dropped 81% year on year to 19.6 mln euros as austerity taxes and adverse forex moves hurt business, Greece's second-biggest refiner said on Tuesday. Motor Oil was hit by a 12.9 mln euro one-off corporate tax imposed by Greece's cash-strapped government. Results were also affected by hedging
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Government revenue rose faster than expenditure in the second quarter of 2010, according to preliminary data on the General Government accounts for the period April-June 2010. Total revenue amounted to EUR 1,656.0 mln (EUR 1.7 bln), marking a 2.7% increase over the corresponding period of 2009. Total expenditure in the same period reached EUR 1,914.7
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More people travelled abroad in July 2010 than in July 2009, according to the results of the Passengers Survey published by the Statistical Service Cystat. The survey showed that 138,801 residents of Cyprus returned from a trip abroad in July, a rise of 7.3% compared with the 129,381 recorded in the same month of 2009.
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The European Union's fisheries chief has warned that Iceland's bid to join the bloc could be damaged by an escalating "mackerel war" over fishing rights in the northeast Atlantic. Cash-strapped Iceland began talks to join the EU in July, after the collapse of its banking system persuaded it to seek the financial security of European
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European shares hit a one-month low on Tuesday in thin volumes, as worries about the sustainability of the global economic recovery dominated investor sentiment ahead of more U.S. data. Energy stocks came under intense pressure after crude oil prices fell more than 1% on a likely rise in crude oil inventories in the United States.
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