Asian stocks rose for a fourth day on Friday on optimism that the world economic recovery was on track despite Europe's debt woes, while the euro was steady after a rally the previous day. The MSCI index of Asia Pacific ex-Japan stocks rose 1.4 percent, led by energy and technology plays. There was little impact
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President Barack Obama's flashes of anger over the Gulf of Mexico oil spill may have satisfied critics, but he may face economic and political fallout from his sharp castigation of London-based BP. Tough talk from the president and his team helped accelerate a steep fall in BP's shares, which hit 14-year lows on Wednesday, triggering
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The majority of Greeks expect the country's economy to worsen and see labour strikes intensifying in the coming months, based on an opinion poll by Public Issue published on Friday. The poll, conducted from June 2 to 7 for Kathimerini newspaper, showed the ruling socialists' approval rating had declined in June. Only 18 percent of
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Minister of Commerce, Industry and Tourism Antonis Paschalides met with Bulgarian Minister of Economy, Energy and Tourism Traycho Traykov, with whom he discussed tourism and ways to enhance the exchange of tourists between the two countries. Paschalides and Traykov reviewed bilateral relations, discussed various issues of mutual interest, and made special reference to possible cooperation
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Trade deficit in Cyprus for the period from January to March 2010 was 1,244.8 million euros, with total imports/arrivals amounting to 1,509.3 million euros, and total exports/dispatches to 264.5 million euros. According to data released by the Statistical Service of Cyprus, total imports/arrivals, covering total imports from third countries and arrivals from other member states,
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Registrations of motor vehicles continued to decline in May, falling by 11.1% over the year earlier to 3,998. In January-May, total registrations fell by 15.0% to 18,939, from 22,275 in January – May 2009. Registrations of private saloon cars decreased to 13,550 from 16,421 in January – May 2009, falling by 17.5%.
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The trade deficit widened in April, according to preliminary estimates for the month, reaching EUR 403 mln, compared with EUR 364 mln in April 2009. Total imports/ arrivals reached EUR 483.5 mln in April, of which EUR 345.1 mln were arrivals from other Member States of the EU and EUR 138.4 mln imports from third
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Cyprus actually clambered out of recession in the first quarter of 2010 according to the latest data from the Statistical Service Cystat, contrary to earlier estimates showing a sixth consecutive quarter of decline. The revised data show that GDP in the first three months of the year rose in real terms by 0.1% over the
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Greece can secure badly needed private investment for public-private partnerships (PPPs) in infrastructure despite the Mediterranean country's poor record in their procurement, its economy minister said on Thursday. Despite the launch of a 5.7 billion euro PPP programme five years ago, only one of 52 planned projects has gone through to implementation phase due to
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Oil climbed above $74 per barrel on Thursday after Chinese data showed a surge in exports in May and as the IEA revised up its estimate of global oil demand growth for this year. China's exports rose 48.5 percent in May from a year earlier, beating forecasts of a 32 percent gain and confirming a
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