GBP has been in a currency “sweet spot” over the last several years. Europe, the UK’s largest trading partner, has been growing robustly, as has the financial sector in the UK. With City of London bonuses high and new immigrants moving in, demand for housing at all levels of the income scale surged, causing real

Cyprus will host on December 16-17 the 5th Euro Mediterranean Ministerial Meeting on energy issues. An official press release issued here said that the Republic of Cyprus in cooperation with the EU Portuguese Presidency and the European Commission would organize the Meeting in the southern coastal town of Cyprus Limassol. The Meeting will be attended

Moody’s Investors Service has upgraded the long-term global scale local currency deposit and senior unsecured debt ratings of Bank NRB Ukraine to Ba2 from B2. The rating agency also upgraded the bank’s long-term national scale rating to Aa1.ua from A1.ua. Moody’s affirmed Bank NRB’s E+ bank financial strength rating, B2 foreign currency deposit rating and

Brother Gulf announced it has achieved a 19% increase in its revenues – the highest growth rate in the regional printer, copier and multifunction products (MFP) market in the first half of 2007. Findings compiled by IDC indicate that Brother’s share in the EMEA printer, copier and MFP market has increased significantly, which the company

China Mobile Group Beijing Ltd. (CMBJ) has selected Nokia Siemens Networks to expand its General Packet Radio Services (GPRS) core network. The solution will enable CMBJ to increase its packet core network capacity in a cost-efficient way and launch new mobile data applications. Millions of additional visitors will use their mobile phones in Beijing during

Epson has announced the Middle East launch of the Perfection V500 Photo scanner, designed to meet the needs of the advanced amateur photographer. It is the first Charged-Coupled Device (CCD) scanner to use white LED as a light source, and delivers fast scanning speeds with low power consumption to ensure it is Energy Star compliant.

Higher foreigners employed than expected   The reported real GDP growth rate for Cyprus in the third quarter of 2007 was revised up to 4.6% over the  year-earlier period compared with a flash estimate a few weeks ago of 4.3%. Real GDP growth in the first nine months of 2007 is estimated at 4.4%, compared

Standard & Poor’s Ratings Services said that its ratings and outlook on Hellenic Telecommunications Organization S.A. (OTE; BBB+/Negative/A-2) are unaffected by the increasingly vocal role being taken by Greek investment holding company Marfin Investment Group Holdings S.A. (MIG; BB/Negative/B) as a shareholder of the company. “Despite the significant 18.46% stake that MIG has built up

Signs of weaker construction activity One in four employed are non-Cypriots   The reported real GDP growth rate for Cyprus in the third quarter of 2007 was revised up to 4.6% over the  year-earlier period on Tuesday, compared with a flash estimate a few weeks ago of 4.3%. Real GDP growth in the first nine