Cyprus recorded the third best performance in the EU-27 regarding unemployment, during January 2008. According to data released in Brussels by Eurostat, the Statistical Office of the European Communities, unemployment in Cyprus reached 3.6% in January 2008.Unemployment in the Euro area remained in January stable at 7.1% and in the EU27 unchanged at 6.8%. In
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Cyprus’ annual harmonized inflation for January 2008 reached 4.1%, according to Eurostat, the Statistical Office of the European Communities.Euro area annual inflation was 3.2% in January 2008, compared to 3.1% in December 2007. A year earlier, the rate was 1.8%. Monthly inflation was -0.4% in January 2008.EU annual inflation was 3.4% in January 2008, up
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President Demetris Christofias will have talks in Athens with the Greek government and the political leadership this week. The President leaves for the Greek capital on Tuesday afternoon, his first trip abroad since taking office last Thursday. President Christofias will meet President of the Hellenic Republic Karolos Papoulias and Prime Minister Costas Karamanlis and political
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Nicosia Mayor Eleni Mavrou said on Saturday that the Municipality is ready to facilitate the opening of a crossing point in Ledra Street, once a political decision has been reached by the leaders of the two communities.The Municipality is ready to open the crossing point within five days, once the political decision has been taken,
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President Demetris Christofias has said he is “more than ready†for a solution in Cyprus, if Turkey is also ready for this. The President expressed hope that Ankara will shift its policy on Cyprus and accept UN resolution, the latest UN-brokered agreement in July 2006 between the Greek Cypriot and the Turkish Cypriot communities on
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The leaders of the Greek and Turkish communities on divided Cyprus are expected to meet later this month to discuss ways to relaunch reunification talks, the top U.N. envoy said on Monday. “I will start preparations for that meeting, probably towards the end of the second half of this month,” U.N. resident representative Michael Moller
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Oil prices of more than $100 a barrel are unlikely to sway OPEC ministers meeting in Vienna this week into raising output, which they say is more than enough. Consumers, led by top fuel burner the United States, have urged the Organization of the Petroleum Exporting Countries (OPEC) to produce more oil in an attempt
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World stocks tumbled while the dollar plumbed record lows on Monday as fresh concerns about the health of the banking sector and a U.S. recession drove investors to safe-haven gold and government bonds. Emerging markets took a beating as investors dumped risky assets, while the cost of corporate bond insurance rose after last week’s weak
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Professional services in Cyprus enjoyed a bumper year in 2007, with the turnover value of “legal, accounting, book-keeping, auditing and other related activities†rising by 21.5%. Turnover in hotels and restaurants also performed reasonably strongly, rising by 11.9%, perhaps as consumer spending by locals made up for another disappointing year for tourism. Computers and related
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Moody’s Investors Service holds a stable outlook for European building materials companies for 2008. Expectations of a stable or even slightly positive market environment in the first half of 2008 are balanced by the challenges that may lie ahead in the second half when the impact of the liquidity crunch and subsequent reduced economic growth
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