A decrease in the revenue from tourism was recorded in February 2010 compared to the corresponding month in 2009. According to data by the Statistical Service of the Republic of Cyprus, the decrease reached 6.4%. The Statistical Service notes that on the basis of the results of the Passenger Survey, revenue from tourism reached
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Asian stocks hovered near a two-month high on Thursday, with expectations for continued low global interest rates and modest inflation expected to support equity markets in the near term. Wall Street stocks finished at 17-month highs overnight and government bond yields fell after the U.S. February Producer Price Index fell more than expected, reflecting benign
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The euro dropped on Thursday on a report that Greece is not hopeful of aid from the European Union, while Asian stocks hovered near a two-month high, supported by solid growth expectations for the region. Major European stock markets were seen slipping as much as 0.3 percent after a steep two-day rally, with lower oil
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The British bases in Cyprus are to reduce their military and civilian personnel as part of the Ministry of Defence efforts to keep support services in-house and not contract them out to the three bidders who had applied. As a result, some 166 jobs are expected to go, a British Forces radio report said Wednesday.
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The credit outlook for the Lebanese banking sector is stable, reflecting the buoyant performance of the local economy in 2009, improvement in Lebanese politics and relative stability in the region, Moody's Investors Service said in a new report. However, this outlook could weaken rapidly if the recent political posturing in the wider region deteriorates into
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Wall Street rose in early trading on Wednesday as a renewed promise of extended low interest rates from the Federal Reserve and its relatively positive view of the economy enticed investors into risky assets. Government data showed the decline in producer prices in February was steeper than expected, pointing to scant inflation pressure and further
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Stock index futures held gains on Wednesday after data showed producer prices fell more than expected in February as energy costs tumbled. * S&P 500 futures rose 2.6 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones
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The Bank of England's Monetary Policy Committee voted unanimously to keep monetary policy unchanged this month, but some members noted an increase in upside inflation risks due to the fall in the pound. Minutes of the MPC's March 3-4 meeting, published on Wednesday, showed all nine members agreed to keep interest rates at a record
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Britain's top share index gained 0.4 percent around midday on Wednesday, lifted by strength in commodity issues and banks as investors welcomed the Federal Reserve's pledge to hold interest rates near zero. By 1153 GMT, the FTSE 100 index was up 22.21 points at 5,642.64, just off an intraday 21-month peak of 5,657.70, after the
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Producer prices fell more steeply than expected in February, posting their biggest drop in seven months as energy costs tumbled, according to a government report on Wednesday that pointed to scant inflation pressures. The Labor Department said the seasonally adjusted index for prices paid at the farm and factory gate fell 0.6 percent, the largest
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