Monthly earnings in Cyprus topped EUR 2,000 for the first time in the fourth quarter of 2009, according to preliminary estimates of the Statistical Service. The average monthly earnings of employees during the fourth quarter of 2009 were estimated at €2,154. In the fourth quarter males earned €2,335 while females earned €1,931. The gap between
More
Inflation in Cyprus moderated in March, after a rapid build-up in the preceding months, according to the latest data from the Statistical Service. The consumer price index in March 2010, increased by 2.4% compared with March 2009, having risen by 2.9% in February 2010. However, this rate of inflation remains significantly higher than the 1.1%
More
Goldman Sachs Group Inc (GS.N) said it did not intentionally "bet against" securities in the mortgage market during the financial crisis, dismissing suggestions that it unfairly made money by placing bets against its clients. "As a market maker, we execute a variety of transactions with clients and other market participants … which may result in
More
Stocks indexes futures edged lower on Wednesday as investors were cautious ahead of a speech by Federal Reserve Chairman Ben Bernanke and an auction of 10-year Treasury notes amid concerns about rising yields. Bernanke is due to speak on "Economic Challenges: Past, Present and Future" at a Dallas luncheon, and investors will scour his testimony
More
Greek banks, hit by a series of credit rating downgrades linked to the country's debt crisis, have asked the government for more financial support, Finance Minister George Papaconstantinou said on Wednesday. "The banks have asked to use the remaining funds of the support plan," he told reporters, referring to a package first agreed by the
More
Weakness in commodity issues pulled Britain's leading shares 0.1 percent lower at midday on Wednesday, countering mixed to firmer showings from banks and oil majors with most investors happy to keep to the sidelines. At 1050 GMT, the FTSE 100 index was 3.92 points lower at 5,776.43, stuck in a tight 25 point trading range.
More
The euro zone is split over the rate of interest it should charge Greece if Athens asks for emergency loans, with Germany and the Netherlands calling for higher rates to prevent moral hazard, a euro zone source said. "There is an issue of the rate of interest," the source said, but declined to name exact
More
European stocks edged down on Wednesday, pressured by weaker banks, as worries over Greece's fiscal problems resurfaced, while a downward revision to euro zone growth highlighted the fragility of an economic recovery. Losses, however, were kept in check by gains in defensive drugmakers with GlaxoSmithKline, AstraZeneca, Sanofi-Aventis up 0.6 to 0.9 percent. By 1121 GMT,
More
European stocks fell in early trade on Wednesday, led by heavyweight mining and banking shares, halting a two-session rally as renewed concerns over Greece's finances rattled investors ahead of euro zone GDP data. Renault dropped 1.4 percent, while Daimler added 0.2 percent after the two carmakers and Renault's partner Nissan Motor unveiled a partnership deal
More
World stocks inched close to 18-month highs on Wednesday on signs of improving global growth but the euro remained on the ropes due to festering worries about Greece's debt problems. Oil steadied near 18-month highs on the brightening economic outlook while copper prices pulled back from 20-month peaks as traders worried the metal's recent rally
More