Consumer price inflation rose for the second straight month in July, as prices rose by 2.6% over the year earlier, up from 1.9% in June and 1.6% in May. The clear culprit is petroleum, with prices up 20.1% over the year earlier in July and 16.0% in June. The government increased petrol taxes in June
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Unemployment measured on a seasonally adjusted basis fell for the first time in seven months in July, reaching 23,218, compared with 23,555 in June. Non-seasonally adjusted unemployment was up 27.3% over the year earlier at 22,899 in July. Nevertheless, the pace of increase has been decreasing and this was the lowest increase over the year
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Turkish Cypriots spent EUR 9.8 mln using credit and debit cards in the southern part of Cyprus during the first seven months of the year, according to data from the credit card company JCC, up from EUR 9.4 mln in the same period of 2009. In July alone, they spent EUR 1.7 mln. The most
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Credit card spending by locals leapt in July according to data from the credit card company JCC. Local plastic card use by Cyprus residents increased by 5% over the year earlier to EUR 179,407,869 (EUR 179 mln) in July, having also risen by just 1% in both May and June. In the period January-July, credit
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Turkey's staunchly secular military named a new head of the armed forces and army chief on Monday, ending days of uncertainty caused by allegations of plots to undermine Prime Minister Tayyip Erdogan's government. Chairing a promotion panel dominated by military top brass last week, Erdogan had reportedly blocked the general in line to become army
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European shares rose on Monday, above key resistance levels, rebounding from the previous session's sharp losses, with commodity stocks leading the risers supported by stronger metal and oil prices. Growing speculation the U.S. Federal Reserve will have to buy bonds sooner rather than later, to bolster the sagging economy also lent support, ahead of the
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Former Wimbledon finalist David Nalbandian made the most of his first tournament since April by turning aside eighth seed Marcos Baghdatis from Cyprus 6-2 7-6 to win the $1.2 mln Washington Classic on Sunday. The Argentine captured the first five points of the tiebreaker before winning 7-4 to claim his 11th career title and first
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The woman whose sexual harassment accusation against Mark Hurd led to his ouster as chief executive of Hewlett-Packard came forward on Sunday, saying she never intended for Hurd to lose his job. Jodie Fisher, a former actress who appeared on an NBC reality TV show in 2007, revealed her identity for the first time through
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Asian stocks edged higher on Monday on growing speculation the Federal Reserve will have to buy bonds sooner rather than later to bolster the sagging economy, which is keeping the U.S. dollar under pressure. Major European stock futures were up as much as 1.5%, reacting positively to a late session rally on Wall Street on
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Oil prices hovered just below $81 a barrel on Monday, as a weaker dollar supported prices that had fallen for three straight days last week, in part on poor U.S. economic data. Analysts said the dollar, which is slipping towards a 15-year low against the yen, could, along with rumblings of geopolitical tensions in the
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