On the basis of the results of the Passenger Survey, revenue from tourism reached EUR 33.9 mln in February 2010 compared to EUR 36.3 mln in the corresponding month of the previous year, recording a de....

On the basis of preliminary estimates for foreign trade in January 2010 total imports/ arrivals reached EUR 441.6 mln, of which EUR 275.2 mln were arrivals from other member states of the EU and EUR 1....

The Cyprus economy shrank by 1.7% in 2009, according to the latest full figures on the national accounts, despite government efforts to prop up the economy. The main reason for the fall was househol....

Oil market tightening, OPEC may not need to act-Saudi

There are signs of increasing demand for oil, Saudi Oil Minister Ali al-Naimi said on Tuesday, which could mean OPEC does not have to take any action on supply this year. "We have been sailin....

EU executive to put Greek plan to finance ministers

The European Union's executive said on Monday it was ready to propose a framework that could be used to aid Greece, despite signs of continuing reluctance from France and Germany to make concrete....

Lawmakers press for action on China currency

A bipartisan group of 130 U.S. lawmakers on Monday urged top Obama administration officials to take immediate action to address China's "currency manipulation." "The impact of ....

OPEC to urge compliance, keep output target steady

OPEC ministers due to arrive here for their meeting on March 17 say there is no need to change output targets with oil prices above their preferred range, but soft demand is prompting calls to curb ov....

UK must cut spending fast to stay credible -Osborne

Any delay in tackling Britain's ballooning deficit risks undermining the country's credibility, opposition Conservatives said on Monday, drawing an electoral battle line ahead of the Labour ....

Euro zone Q4 employment falls, points to weak growth

The euro zone lost 347,000 jobs in the last quarter of 2009, data showed on Monday, as the 16-country area's economic recovery remained beset by fragility. The number of employed fell 0.2 per....

Baghdatis qualifies to Indian Wells' third round

Cypriot tennis player, Marcos Baghdatis secured a spot in the third round of the ATP Masters 1000 series Indian Wells tournament, after beating France's Arnaud Clement, 76th in ATP rankings, with....

Cyprus leaders to hold new meeting on Tuesday

A new meeting between Cyprus President Demetris Christofias and Turkish Cypriot leader Mehmet Ali Talat will take place on Tuesday, in the framework of direct negotiations with a view to reach a settl....

Cyprus MEP concerned over Turkish Cypriot aid fraud

Democratic Party (Diko) and S&D MEP Antigone Papadopoulou has expressed her deep concern over press reports that allege fraud in the distribution of the 259 mln euros in aid to the Turkish Cypriot....

Elena Ambrosiadou heads 50 Leading Women in Hedge Funds

Elena Ambrosiadou, once described as the highest-paid and wealthiest woman in Britain, heads The Hedge Fund Journal's survey of ‘50 Leading Women in Hedge Funds’, sponsored by Pricewa....

EC wants to slash gender pay gap

The European Commission plans to use a series of measures aimed at significantly reducing the pay gap between men and women over the next five years. The average gender pay gap in the EU currently sta....

Cyprus cdbbank opens branch, reports ’09 profits

The cdbbank (formerly Cyprus Development Bank) opened its first branch in Nicosia and hosted a reception where the bank’s president, Rena Rouvitha Panou, announced that 2009 was a year of profit....

CFAs eager to restore investor confidence in capital markets

Cyprus Society hosts regional meeting The CFA Institute, the global association for investment professionals with nearly 100,000 members, is spearheading a campaign to restore investor confidence ....