Cyprus managed to increase the proportion of GDP spent on research and development in 2007, but it still falls well below the EU target of 3% of GDP by 2010. On the basis of the results of the ad hoc survey carried out by the Statistical Service for the collection of data on scientific research
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The annual harmonised consumer price inflation (HICP) rate continued to fall in Cyprus last month, with prices rising by just 0.1% in June 2009 compared with June 2008. The consumer price index in the same period rose by 0.2%. However, the fall masks big changes across the different categories. Whereas oil-related prices have fallen steeply,
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Second thoughts about the U.S. economy's ability to recover soon hit global stocks on Monday, set Wall Street up for likely losses at the open and gave the dollar a boost. Investors were shaken late last week by a dismal U.S. payrolls report which put a question mark over the recovery in the dominant economy,
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Declining oils and miners pushed Britain's top share index down 1.3 percent by midday Monday, on the back of weaker crude and metals prices as economic jitters intensified, but losses were capped by stronger defensives. By 1033 GMT, the FTSE 100 index was down 56.23 points at 4,180.05, after gaining 0.1 percent on Friday. Falling
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Oil fell to around $64 a barrel on Monday and touched a five-week low, pressured by doubts over the prospects for a global economic recovery. The U.S. jobless rate reached a 26-year high and Euro zone unemployment is at the highest in a decade, reports showed last week. Oil fell even after militants attacked oil
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The Group of Eight nations should not presume a global economic recovery is near, World Bank President Robert Zoellick said in a letter to G8 host Italian Prime Minister Silvio Berlusconi obtained by Reuters on Monday. The letter, dated July 1 and copied to all G8 leaders, said interventions by central banks and governments appeared
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The XVI Mediterranean Games in Pescara, Italy, concluded on Sunday evening with the closing ceremony starting from the “Stadio del Mare” continuing in the streets of Pescara, and ending with a beach party. The Cypriot team, which comprised 69 athletes, secured 12th position in the medals table of the Games among 23 countries. Cyprus won
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Sterling tumbled broadly on Monday, hitting a one-month low against the dollar, as wariness over the economy and expectations the Bank of England would increase its asset buying programme weighed on the UK currency. Sterling fell to $1.6100, its weakest since early June. At 0814 GMT, it was down 1.3 percent at $1.6116. Traders cited
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Britain's top share index fell 1.1 percent early on Monday on concerns about the global economic outlook, with heavyweight oils, miners and banks leading the market lower. By 0821 GMT, the FTSE 100 index was down 45.01 points at 4,191.27, after gaining 0.1 percent on Friday. The index fell through the 4,200 level for the
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Trade volumes may rebound "quite quickly" when the global economy recovers, and U.S. exports are likely to rise first and buoy worldwide flows, the head of the International Monetary Fund said on Monday. "Trade can start up quite quickly, as quickly as growth, once the recovery starts in developed countries," IMF Managing Director Dominique Strauss-Kahn
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