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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 [ Car imports drive UK trade deficit wider in Sept ]

Car imports drive UK trade deficit wider in Sept

Car imports drive UK trade deficit wider in Sept
November 10, 2009 - Reuters

A surge in car imports in September pushed Britain's goods trade deficit to its widest since January, surprising analysts who had expected the weakness in the pound to boost exports and narrow the shortfall.

The Office for National Statistics said on Tuesday that Britain's goods trade gap widened to 7.194 billion pounds in September from 6.073 billion pounds in August, confounding expectations for a slight narrowing in the deficit.

While exports rose 3.9 percent on the month, imports rose almost twice as fast, by 7.5 percent.

"It's very disappointing that the trade balance has deteriorated," said Alan Clarke, economist at BNP Paribas.

"This is one area we were hoping would help to drive us out of recession."

Policymakers have been hoping that sterling's 25 percent depreciation over the last two years would promote an export-led recovery, as Britain's dependence on consumer spending has made it vulnerable.

Car imports shot up 30 percent in September, the biggest rise in 13 years, according to the ONS, which said demand had been encouraged by the government's car scrappage scheme.

And the oil deficit widened to 500 million pounds, its biggest since July 2008. The ONS said higher oil imports were due to domestic production being suppressed by summer maintenance work on North Sea oil refineries extending into September.

The goods trade gap with non-EU countries also widened unexpectedly to 3.783 billion pounds from 3.060 billion pounds in August. Analysts had forecast a deficit of 3.0 billion pounds.

And Britain's total trade deficit, which includes both goods and services, increased to 3.469 billion pounds -- the biggest since August 2008.


(Source: Financial Mirror, http://www.financialmirror.com/News/Cyprus_and_World_News/18204)



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