Cyprus tourism revenue fell sharply in April, according to the results of the Passenger Survey. Revenue from tourism fell by 17.1% to EUR 89.0 mln compared with EUR 107.4 mln in the corresponding month of the previous year. In the same month, tourism arrivals fell by 23%, depressed by flight delays and cancellations as a
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Total sales of petroleum products recorded a decrease of 2.9% over the corresponding period of the previous year during the period January – April 2010, according to the Statistical Service, CYSTAT. Total sales of petroleum products in April 2010 alone fell by 15.8% compared to the previous month. The Statistical Service said that a considerable
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Retail trade volume returned to growth in March, according to preliminary figures from the Statistical Service. The provisional turnover volume index of retail trade for March 2010 inched up by 0.3% over the year earlier, having declined by 5.4% in February. Compared with the previous month, the index increased by 19.0%. For the period January-February
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Greece will not restructure its debt and will restore market confidence, counting on foreign investment to turn around its debt-ridden economy, its economy minister said. The euro-zone's weakest member is imposing tough measures in an aid-for-pain deal with the EU and the IMF to cut ballooning deficits and debt amid its first recession in 16
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European Central Bank policymaker Lorenzo Bini Smaghi said on Friday the euro zone's problems were an early warning to the rest of the world and took a swipe at Germany for fanning the flames of the crisis. Bini Smaghi, one of the ECB's six-strong Executive Board, also slammed predictions that Greece will eventually default on
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France will host the 2016 European Championship after UEFA opted to play it safe on Friday, choosing the French over Turkey in a knife-edge vote after outsiders Italy had been eliminated in the first round. France, who staged the tournament in 1960 and 1984 and have also hosted two World Cups, won the vote 7-6
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Three weeks after it agreed a $1 trillion safety net to protect the euro, the European Union is struggling to convince financial markets it has got what it takes to save the currency. Since the safety net was agreed early on May 10 to appease markets worried that Greece's debt problems could be contagious, countries
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World equities rose for the third day running on Friday and the euro extended gains against the dollar as investors refrained from betting on further trouble in the euro zone's debt crisis ahead of a holiday in major markets. Crude prices advanced to above $75 a barrel, touching a two-week high, while the cost of
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Nokia sold less than 100,000 top-of-the-range N900 smartphones in its first five months on the market, researcher Gartner said, indicating it has yet to mount a serious challenge to the iPhone and Blackberry. The chunky computer-like handset — with slide-out keyboard and a touch screen — has found support among hard-core technology specialists but failed
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Apple Inc's iPad launched in overseas store shelves on Friday, with buyers storming Japanese and Australian shops to be among the first outside the United States to snap up the long awaited tablet PC. The device, which has a 9.7-inch color touchscreen for surfing the Web, watching movies, playing games and reading e-books, goes on
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