Wholesale turnover fell sharply in the first quarter of 2010 according to the latest figures from the Statistical Service. The turnover value index of wholesale and retail trade and repair of motor vehicles and motorcycles fell by 11.6% over the corresponding period of the previous year in January-March 2010. The index dropped by 2.3% compared
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Serious crime fell in 2008 according to the latest figures from the annual report, “Criminal Statistics”, published by the Statistical Service. The report includes data on crime based on information provided by the police, the courts and the prison service and has comparative data for the period 1976-2008, The number of serious offences reported to
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Retail trade slipped again in April according to provisional estimates from the Statistical Service. The figures show that retail trade turnover volume fell by 2.7% over the year earlier in April 2010 and by 2.0% compared with March 2010. Revised data for March show that the index increased by 11.1% compared with March 2009 and
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The finance minister’s rash decision to try to plop an increase the corporate tax rate from 10% to 11% on parliament will cost us for many years to come for several reasons. First, it means that Cyprus will have ceded the lowest corporate tax rate in the EU to Bulgaria, which is also at 10%.
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Deposits in commercial banks in the countries hit hardest by the euro zone debt crisis grew in May, indicating savers still have confidence in the countries' banking sectors, data showed on Monday. Deposit liabilities at Greek banks rose to 379.7 billion euros in May from 373.1 billion in April, the highest since records began in
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Stock markets perked up on Monday after world leaders failed to agree on a global bank levy and softened the timetable for new capital requirements at a do-little G20 summit in Canada which posed questions about the forum's effectiveness. Shares climbed in Europe <.FTEU3> and Asia, led by banks, after the U.S. Congress adopted a
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Worries about the fragility of global economic recovery hit financial markets again on Friday, knocking world stocks down for the fourth session in a row ahead of a summit of Group of 20 nations. Currency traders also sold higher-yielding currencies. Investors have pulled back a bit from riskier assets this week as evidence built that
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Cyprus Commerce, Industry and Tourism Minister Antonis Paschalides and Chinese Deputy Minister of Commerce Zhon Shan reviewed bilateral trade relations between Cyprus and China and looked into ways of increasing exports of Cypriot products to China. Delegations of the two countries under the two officials held talks regarding issues which concern the two Ministries. A
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Cyprus Communications and Works Minister Erato Kozakou Marcoullis expressed Cyprus’ support to a single EU approach as regards the protection of passengers’ rights and the support of the airliners which suffered a serious setback due to the Icelandic volcanic ash cloud. Marcoullis who was speaking during the meeting on Thursday of the EU Transport Ministers
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Minister of Finance Charilaos Stavrakis has pointed out that consolidation of public finances was necessary in order to achieve growth and prosperity, adding that the Government's package of measures was balanced and the public sector would be shouldering the greatest burden of efforts to reduce expenditure. Stavrakis was speaking on Thursday at Larnaca Airport on
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