Annual inflation inched up in April, according to the latest figures from the Statistical Service, recording 2.44% compared with a rise of 2.40% in March. Over the previous month, prices rose by 0.70% to 112.76. The Statistical Service said that this was mainly owing to increases in the prices of petroleum products, electricity and certain

Turkish Cypriots spent EUR 5.1 mln using credit and debit cards in the southern part of Cyprus during the first four months of the year, according to data from the credit card company JCC. In April alone, they spent EUR 1.3 mln. The most popular item was supermarkets (reaching EUR 1.1 mln), followed by clothing

Credit card spending by locals fell in April according to data from the credit card company JCC, after a run of two months in which spending sharply. Local plastic card use by Cyprus residents fell by 5% over the year earlier to EUR EUR 136,456,077 (EUR 136 mln) in April, having leapt by 20% in

German Chancellor Angela Merkel and the head of the IMF warned of financial contagion on Wednesday unless a euro zone debt crisis is stopped in Greece, while investors fled to the safe havens of the dollar and gold. Greek public and private sector workers shut down airports, tourist sites and public services in a general

Euro zone economic growth should be stronger this year than previously thought and the budget gap lower, the European Commission said, but it warned of risks to recovery from financial market tensions sparked by Greece. In its twice-yearly economic forecasts for countries of the 27-nation European Union, the bloc's executive said economic growth in the

Expenditure on health services in 2007 is estimated at EUR 959.6 mln, according to a report just published by the Statistical Service. The Report entitled “Health and Hospital Statistics” provides statistical information on the medical services of the public sector. Out of the total, EUR 458.3 mln was spent by the public sector and EUR

Authorised building permits leapt in February according to the latest figures from the Statistical Service. The number of building permits authorised by the municipal authorities and the district administration offices rose by 17.1% over the year earlier to reach 813, compared with 720 in February 2009. In January, building permits had declined by 20.5%. The

The euro hovered close to a one-year low against the dollar on Tuesday on concerns about Greek debt problems and fears of possible contagion to other vulnerable euro zone countries. The euro's weakness helped propel the U.S. dollar to a near one-year high on a trade weighted basis. At the weekend European finance ministers agreed