In February 2009 the industrial turnover index in Cyprus is provisionally estimated to have reached 112.2 (base 2005=100), recording a decrease of 7.6% compared with February 2008. For manufacturing, the index for February 2009 recorded a decrease of 7.3% compared with February 2008. During the period January-February 2009, the index recorded a decrease of 6.6%
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Construction materials prices in Cyprus have been falling as metallic and electromechanical product prices decrease. In April the price index of construction materials reached 116.52 units (base year 2005=100), recording a decrease of 0.61% over the previous month. For the period January – April 2009, overall construction materials prices fell by 0.13% over the corresponding
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Investors head into the new week increasingly anxious for firm evidence of real economic revival yet hanging on to most of the gains they have made in the equity market rally that began in March. The strength of the rally has petered off somewhat but there is little sign to date of a correction. Indeed,
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The leadership of the Cyprus Chamber of Commerce and Industry (KEVE) has expressed to Syrian Minister of Economy and Commerce Amer Husni Lutfi the interest for Cypriot investments in Syria and especially the promotion of the participation of a Cypriot joint venture in a large tourist development in coastal Latakia worth 18 billion EUR. The
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The newly-elected right-wing government of northern Cyprus said on Friday it was pessimistic that peace talks to unify the island would succeed. Turkish Cypriots recently elected a government backing a two-state arrangement, anathema to Greek Cypriots. Turkey is the only country to recognise northern Cyprus as a state. Greek and Turkish Cypriots launched peace talks
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The United Nations has urged leaders of divided Cyprus to accelerate unity talks, warning that a settlement will be harder to reach the longer negotiations drag out, a report released on Thursday said. "While the parties have made steady progress, I see a need for an increase in the pace of the talks as the
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Optagius Ltd, Stario Portfolio Investments Public Co Ltd, Yiannos Cassoulides, Alexis Charalambides and Michael Ioannou (Offeror) announced that on May 20, 2009, they jointly proceeded with the purchase of 3,121,437 shares of Empire Capital Investments Public Ltd, which corresponds to 52.32% of its issued share capital. The transaction was made at the price of EUR0.62
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The dollar fell to a 2009 low on Friday as fears intensified that the United States could lose its triple-A rating, supporting dollar-priced commodities and boosting resource related shares. The dollar's latest decline started when ratings agency Standard & Poor's cut its ratings outlook on Britain to negative from stable, stoking fears other AAA-rated countries
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Britain's economy shrank at its sharpest pace since 1979 in the first three months of the year with households slashing spending at the fastest rate since 1980 and firms using up stocks at a record pace. With analysts arguing the worst is probably now over for British GDP figures, debate has turned to when growth
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Europe's biggest bank HSBC Holdings said on Friday it intended to continue to pay quarterly interim dividends but added that business would remain challenging during much of 2010. "Turning to the outlook. The rest of 2009 and probably much of 2010 will be challenging," Chief Executive Michael Geoghegan said at the bank's annual shareholder meeting.
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