Australia's central bank raised its key cash rate by 25 basis points to 3.25 percent on Tuesday and heralded more to come, saying it was safe to row-back on stimulus now that the worst danger for the economy had passed. The Australian dollar jumped to a 14-month high and interbank futures slid as investors rushed
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Britain will push for its toughest public sector pay deal for at least 30 years by seeking a pay freeze or minimal rise for the 750,000 best paid staff on the state payroll, the Treasury said on Monday. The government, struggling to reduce massive state borrowing, will recommend to pay review bodies there should be
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The dollar fell across the board on Tuesday while world stocks rose after Australia became the first developed economy to raise interest rates in more than a year and data showed the U.S. services sector expanded for the first time since 2008. The dollar trimmed losses after Saudi Arabia, Russia, Japan and other policymakers denied
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Local credit card spending in the Republic of Cyprus fell by 3% compared with the year earlier in the first eight months of 2009, according to data from the credit card company JCC. Local plastic card use by Cyprus residents was EUR 1,361,189,668 (EUR 1.4 bln) in January-September, having risen by 16% for the whole
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Turkish Cypriots spent EUR 12.5 mln using credit cards in Greek Cypriot shops in the first nine months of this year, according to the latest data from the credit card company JCC. JCC recorded the amount spent in the south using credit and debit cards issued by Turkish banks. Since the number of Turkish tourists
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The Spring 2009 Eurobarometer has indicated that people living under the control of the Republic of Cyprus are satisfied with their lives (35% very satisfied and 50% fairly satisfied) and describe the economic situation as good (58%), making this the third highest percentage recorded in the EU, where the average is 20%. The survey, taken
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The newly elected government in Greece, under PASOK President George Papandreou, is taking over the leadership of the country at a very crucial period as regards the Cyprus problem, as well as Turkey’s European future, Foreign Minister Markos Kyprianou has said, adding that during this period closer cooperation and coordination between Cyprus and Greece is
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President Demetris Christofias has congratulated, in a telephone conversation, George Papandreou, PASOK leader, on his victory in Sunday’s national elections in Greece. According to the Athens News Agency, President Christofias was amongst the first state leaders who congratulated Papandreou on his election victory. Papandreou also received a phone call from US President Barack Obama, who
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The U.S. job market strengthened in September for the first time since January of last year, suggesting a slow and rough road to recovery, a research group said on Monday. The Conference Board, a private research group, said its Employment Trends Index edged up to 88.5 in September from an upwardly revised 88.2 in August,
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The U.S. service sector expanded in September at a faster pace than expected, according to a report released on Monday. The Institute for Supply Management's services index rose to 50.9 last month from 48.4 in August, above economists' median forecast for a rise to 50.0. The dividing line between growth and contraction is 50. The
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