European shares hit a three-month closing high on Monday, to finish above a key resistance level, boosted by strong results from HSBC and BNP Paribas and better than expected U.S. manufacturing data. The STOXX Europe 600 banking sector index surged 3.9%, snapping two days of losses. HSBC and BNP Paribas both jumped 5.3%, after the
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Greece launched 35 anti-corruption investigations against public employees and institutions on Monday, stepping up a much-publicised crackdown on public sector corruption to sooth popular demands for justice. The government is keen to show it is responding to calls to punish those responsible for widespread graft and tax evasion as it imposes austerity measures agreed as
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HSBC is about halfway through bulking up its equities platform to build on its strong debt position and tap into rising equity market activity in Asia, the head of its investment bank said. HSBC added about 400 staff in its global banking and markets (GBM) investment bank arm in the first half, with about 50
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Cypriots are among the most highly educated in the EU, according to the annual “Labour Force Survey” for 2009 by the Statistical Service. The report provides data on the employed and unemployed population which are analysed by gender, age, education, branch of economic activity and occupational group. Data are also presented on part-time employment as
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The Statistical Service has announced that national road transport decreased by 2% in January-March 2010 compared with the corresponding period of 2009. International road transport decreased by 3% in January-March 2010 in the same period.
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The index of industrial production fell by 0.5% over the year earlier in May according to the latest figures from the Statistical Service. The manufacturing index in the same period fell by 3.2%. For the period January – May 2010 the index recorded dropped by 1.0% compared with the same period of the previous year.
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Total sales of petroleum products in June 2010 recorded an increase of 1.3% compared with the previous month, according to the Statistical Service. There was a large increase in the sales of Unleaded Motor Gasoline, Gasoil Low Sulphur, Asphalt and Gasoil. A decrease was recorded in the sales of Heavy Fuel Oil and Gasoil for
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Temperatures soared to 46 degrees Celsius on Sunday, defying Met Office projections of 42 degrees in the capital Nicosia, forcing thousands of people to seek shelter on the beaches and in the mountains, while many others chose to stay home with their air conditioners blasting throughout the day. The heat wave conditions are expected to
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The Minister of Education and Culture has issued a decree setting out a ceiling on fees in private universities, at 0.45% of the current cost, applicable as of September 2011. This is the first time Minister Andreas Demetriou has issued such a decree. Demetriou has told a press conference that the dialogue with representatives from
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BNP Paribas, France's biggest listed bank, trumped profit expectations thanks to lower loan provisions and strong retail banking, offsetting volatile financial market conditions that hit investment banking. The second-quarter performance underlined an "improving" but "still challenging" macroeconomic environment in BNP's key euro zone markets, pointing the way to more growth in retail, Chief Executive Baudouin
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