Prime Minister Hun Manet has announced a further strengthening of Cambodia-Japan relations, focusing on modernizing Cambodia’s industrial sector. This declaration was made during the inauguration ceremony of the new $36.8 million Toyota assembly plant in the Royal Group Phnom Penh Special Economic Zone on Thursday morning, May 2. Prime Minister Manet emphasised the ongoing efforts […]
The acquisition of CNP’s insurance operations in Cyprus and Greece is expected to lead to increased and more varied revenue streams for Hellenic Bank, according to a report released this week by international rating agency Fitch. Hellenic Bank has entered into exclusive negotiations and has signed a put option agreement with CNP Assurances for the acquisition of its […]
Limassol port has seen a substantial rise in wheeled cargo traffic since DP World Limassol (DPWL) took over its operation, processing around 60,000 multipurpose Ro-Ro units (Roll-on, Roll-off) in 2023 alone, according to an announcement by the port management company released on Thursday. The announcement pointed out that this number represents a nearly 75 per cent increase in volume since […]
Cyprus’ retail sector experienced a significant upturn in March 2024, according to a report from the Cyprus Statistical Service (Cystat) released on Thursday. The report disclosed a 5.5 per cent increase in the retail trade turnover value index compared to March of the preceding year, while the retail trade turnover volume index saw a rise of 5.2 […]
ENI’s discoveries in Cyprus’ Exclusive Economic Zone (EEZ) and the scenarios for the exploitation of the confirmed drillings as well as the preferred solutions to efficiently meet domestic energy priorities were discussed in a meeting the President of the Republic, Nikos Christodoulides, and ENI’s CEO Claudio Descalzi. The meeting was held at the Presidential Palaceon […]
The significant contribution of sports tourism to the tourism economy of the country is confirmed, Deputy Minister of Tourism Kostas Koumis has said. He was speaking to CNA on 1 May, explaining that this year there had been a record number of participants in the Ayia Napa Youth Soccer Festival football tournament. In his statement to […]
“Given the importance of finance in modern society, tackling this challenge is a high priority for CySEC,” Elena Karkoti, Officer A at CySEC’s Department of Strategy, International Relations and Communications notes. Speaking to CBN, the Officer in charge of the financial education of the public at the Cyprus Securities and Exchange Commission, among other things, […]
Trade and investment cooperation between Cambodia and Mexico are expected to increase after a business forum which is planned to be organized in Phnom Penh soon. The remarks were made during a meeting on Monday between Kith Meng, President of the Cambodia Chamber of Commerce and Liliana Ferrer, Ambassador of Mexico to Cambodia. Both discussed […]
According to the Ministry of Commerce, five automobile manufacturers are reportedly building production facilities in Cambodia. The five car companies, including HGB Motors Assembly, EM Automotive, GTV Motor, Toyota, and China Matrix Technology, are structuring their production in preparation for opening their assembly plants in Cambodia Ms. Cham Nimul, Minister of Commerce, said in the […]
Prime Minister Hun Manet has asked all tyre factories in the country to use domestic rubber as raw material inputs, creating a market for rubber plantation farmers even as two more tyre factory projects have received in-principle approval for investment in Cambodia. The country will attract two new tyre investment projects as some companies are […]
The robust cash buffers of the Republic of Cyprus are expected to support the government in tackling uncertainty observed in the global economy, the Finance Ministry’s Public Debt Management Office (PDMO) has said. In its annual report for 2023, the PDMO said the government’s cash reserves at end-2023 amounted to almost €2.83 billion (deposited at […]
An event will be held during the AIM Congress 2024 in Abu Dhabi next week to highlight the potential investment opportunities on offer in Cyprus to a crowd of affluent investors. In an open invitation, the Ambassador of the Republic of Cyprus to the United Arab Emirates, Meropi Christofi, extended an invitation to potential investors […]
Economic sentiment in Cyprus improved in April after two months of deterioration, as the Economic Sentiment Indicator (ESI-CypERC) increased by 0.8 points compared with March. According to the Economic Research Center of the University of Cyprus (CypERC) the increase in the ESI-CypERC was driven by gains in business confidence in all sectors. The Services Confidence […]
ENI’s discoveries in Cyprus’ exclusive economic zone (EEZ) and the scenarios for the utilization of the confirmed drillings as well as the preferred solutions to efficiently meet domestic energy priorities were discussed in a meeting of the president of the republic, Nikos Christodoulides, with ENI’s Chief Executive Officer Claudio Descalzi on Tuesday in the presence […]
Cyprus residents’ spending on travel abroad reached €1.39 billion in 2022, marking a significant bounce-back year for travel compared to 2021, when pandemic restrictions were still heavily impacting global mobility. According to data released on Tuesday by the Cyprus Statistical Service (Cystat), a total of 158,294 residents embarked on international trips for personal reasons in 2022. This figure represents […]
The Public Debt Management Office (PDMO) released its annual report for 2023 on Tuesday, stating that the robust cash reserves of the Republic of Cyprus are expected to support the government in tackling the uncertainty observed in the global economy. According to the report, the reserve of liquid assets at the end of 2023 amounted to nearly €2.83 billion […]