Bad weather depresses U.S. housing starts in Feb

U.S. housing starts fell last month as winter storms in some parts of the country disrupted home construction, and another drop in building permits pointed to underlying weakness in the near-term. ...

Cyprus tourism revenue down 6.4% in February

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...

Cyprus trade deficit shrinks in Jan 2010

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...

GDP growth in 2009 - analysis

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...

Banks push European shares higher; Fed in focus

European shares bounced back on Tuesday after slipping in the previous session, with banks advancing ahead of the outcome of the U.S. Federal Reserve's policy meeting later in the session. At...

Stocks advance, dollar steady ahead of Fed

World stocks climbed on Tuesday while the dollar was corralled as investors bet the U.S. central bank will repeat its vow of keeping interest rates low for an extended period after its monthly meeting...

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...

Minister of Cyprus: Three more consulates in Russia to facilitate tourism

The government of Cyprus will soon open three more consulates in Russia, in the framework of its policy to facilitate Russian tourists who wish to visit the Mediterranean island, Minister of Commerce,...

Cypriot leaders to continue economy discussion

Cyprus President Demetris Christofias and Turkish Cypriot leader Mehmet Ali Talat will meet here Tuesday, in the framework of the direct negotiations with a view to reach a settlement of the problem o...

Euro ministers say have Greek aid plan if needed

Finance ministers from the 16-country euro zone agreed on Monday to mobilise financial aid for Greece rapidly if needed but revealed little of how their standby plan for the debt-stricken nation would...

China concerns weigh on shares as banks eyed

Stocks fell slightly on Monday on persistent concerns the Chinese government may tighten credit, which could hinder the global recovery from recession. Bank shares dipped, with the KBW bank index ...

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...

European shares fall; China concerns hurt miners

European shares fell on Monday, as miners were pressured by lingering worries over monetary tightening in top commodities consumer China, while uncertainty over banking reform in the United States hur...