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By Peter Stevenson MEMBERS of Volunteer Doctors Cyprus have treated around 350 people at their free clinic in Nicosia since it opened three months ago, while two more, one in Paphos and one in Polis are due to open today. Limassol also has a free clinic, which was opened only last month, and plans have been drawn ...
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SOME 10 days ago, foreign minister Ioannis Kasoulides raised expectations by announcing the possibility of a deal with Turkey for the opening of the fenced off area of Famagusta, for the return of its inhabitants. In exchange the Cyprus government would agree to the opening of Tymbou airport to direct flights. ...
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By George Psyllides PRIVATE auditors have expressed doubt the electricity authority (EAC) could be considered a going concern and have asked its board to draft a credible plan to tackle the problem, according to the auditor-general’s 2012 report on the semi-state company. Among other issues, ...
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Cyprus Internet Directory [ Euro zone inflation holds at 0.6 pct, jobless up ]

Euro zone inflation holds at 0.6 pct, jobless up

Euro zone inflation holds at 0.6 pct, jobless up
April 30, 2009 - Reuters

Euro zone inflation remained at a record low of 0.6 percent year-on-year in April, a first estimate showed on Thursday, as unemployment continued to climb quickly amid the worst European recession since World War Two.

Data from the European Union's statistics office showed consumer inflation in the 16 countries using the euro remained unchanged from March levels, as expected by markets.

No monthly data or a detailed breakdown were available.

The European Central Bank, which meets on interest rates on May 7, wants inflation to be just below 2 percent and has signalled it will cut its main refinancing rate by 25 basis points to 1.0 percent.

It is also likely to announce other ways of monetary policy easing, such as lengthening the maturity of its refinancing operations to 12 months from six or buying corporate or bank bonds, economists said.

Eurostat also said euro zone unemployment rose to 8.9 percent in March from an upwardly revised 8.7 percent in February, taking the number of people without jobs to 14.158 million, up 419,000 from the previous month.

The euro zone's biggest economy, Germany, saw unemployment increase to 7.6 percent of the workforce in March from 7.4 percent in February, while joblessness in France rose to 8.8 percent from 8.6 percent.

Spain saw the steepest jump in unemployment, to 17.4 percent from 16.5 percent, with Ireland not far behind with a rise to 10.6 percent from 10.0 percent.

(Source: Financial Mirror,

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