Zimbabwe's central bank revalued its dollar again on Monday, lopping another 12 zeros off its battered currency to try to tame hyperinflation and avert total economic collapse. The crisis has been worsened by political stalemate between President Robert Mugabe and his rival Morgan Tsvangirai, but the opposition last week agreed to join a coalition government,

The European Union's consumer chief will investigate the bloc's retail electricity sector this year after an EU-wide report on Monday said some energy, banking and transport companies may be ripping off customers. "I have decided to make the electricity retail market the target sector for investigation in 2009," European Consumer Commissioner Meglena Kuneva said. A

President of the Cyprus House of Representatives Marios Garoyian, heading a six-member parliamentary delegation, departs tomorrow for Prague, on a two-day official visit at the invitation of his Czech counterpart Miloslav Vlcek. During his stay in Prague, Garoyian will be received by the Czech President Vaclav Klaus and the Prime Minister of the Czech Republic

The Statistical Service has announced the publication of the annual report “Construction and Housing Statistics, 2007”. The report contains detailed data on the construction sector, pertaining, inter alia, to output, capital formation, inputs, new dwellings completed, building permits authorized, labour cost index and price indices of construction materials. The main developments in the construction sector

Total sales of petroleum products in 2008 rose by a marginal 0.4% in 2008, to 1,647,316 tonnes, compared with 1,640,012 tonnes in 2007. Stocks of petroleum at the end of 2008 were 0.5% higher, at 91,853 tonnes, compared with 91,439 at the end of 2007. There were increases in the sales of unleaded motor gasoline

Industrial output prices rose by 10% in 2008 according to the latest figures from the Statistical Service. However, there was a sharp difference in the categories. Prices of electricity, gas and water supply rose by 25.6%, as they were pushed up by high oil prices. Prices of mining and quarrying products rose by 11.3%, while

Deposits placed with Cyprus banks continued to decline by December 2008 for a second consecutive month, probably as a result of Russians taking their money out of Cyprus banks to meet other contingency needs. Total deposit growth placed at Cyprus banks was at its slowest pace seen, climbing by 6.6% year-on-year to EUR 56.01 bln