British fund manager New Star Asset Management said on Monday it had requested that its shares be suspended pending the outcome of talks with its banks. "New Star announces that it is in advanced and constructive discussions with its banking syndicate," the group said. New Star, hit by fund outflows as clients spooked by the
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By Chris Buckley (Reuters) The public cheeriness that usually accompanies summits between China and the European Union is on ice this year after Beijing called off the annual meeting, exposing rifts that go well beyond their tiff over Tibet. China last week pulled out of the summit scheduled for Lyons on Monday, blaming French President
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High OECD oil stocks show the oil market is oversupplied and OPEC will likely cut supplies when it meets later this month in Algeria, the organisation's secretary general said on Monday. "The market is oversupplied because we are seeing stocks as very high, about 55 to 56 days," Abdullah al-Badri told reporters on the sidelines
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Asian stocks dipped on Monday to snap a six-day winning streak, with investors caught between aggressive steps by central bank to alleviate the sharp global downturn and increasingly grim economic data. Higher-yielding currencies such as the Australian dollar fell ahead of rate cuts expected this week, while oil prices shed more than a $1 after
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The industrial production index reached 129.2 in September 2008, recording an increase of 2.6% compared with September 2007. For the period January – September 2008, the index recorded a rise of 3.4% compared with the same period of the previous year. For manufacturing, the index for September 2008 reached 117.5, recording an increase of 3.3%
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The turnover value of the “Hotels and Restaurants” sector for the period July-September 2008 recorded a decrease of 1.2% compared to the corresponding period of 2007, in keeping with falling tourism arrivals. “Architectural, Engineering and other related activities” recorded an increase of 4.6% in the same period. This was in sharp contrast to the 24.3%
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Fewer than 7% of Cypriots shop online according to the annual survey by the Statistical Service covering households and enterprises. The household survey covered 1,599 households and 3754 individuals 16 – 74 years old. It covered all the government controlled areas of the Republic of Cyprus, urban and rural. The data were collected with personal interviews.
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Revenue from tourism in Cyprus fell by 3.7% year on year in October, even steeper than arrivals which dropped by 2.6% in the same month. On the basis of the results of the Passenger Survey, revenue from tourism reached EUR 198.6 mln in October 2008 compared to EUR 206.3 mln in the corresponding month of
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The production of cows’ milk for August decreased to 11,710 tonnes from 11,960 tonnes in the previous month. Compared to the same month of the previous year, however, it increased by 4.18%. Milk products produced in June reached 6,420 tonnes of drinking milk, 300 tonnes of cream, 510 tonnes of acidified milk, 10 tonnes of
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Euro zone inflation plunged in November and unemployment jumped more than expected, boosting the chances that the European Central Bank will make its largest ever interest rate cut next week to help a shrinking economy. Consumer price inflation in the 15-country bloc fell 1.1 percentage points, the biggest drop since the euro zone was created
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