The Bank of Cyprus on Friday announced an immediate reduction in its reference rate for loans linked to the European Central Bank’s (ECB) base interest rate. According to the bank, the rate will drop from 4.25 per cent to 3.65 per cent, effective from September 18, 2024. The bank explained that this move is a reaction to the ECB’s decision […]

Deputy Minister of Shipping Marina Hadjimanolis recently highlighted the importance of maritime education while speaking at the ceremony of the Merchant Marine Academy of Chios. During her speech, which took place on September 7, Hadjimanoli said that “our seafarers are the backbone of global shipping,” and stressed that “the main aim of the Deputy Ministry […]

Larnaca Marina’s berthing fees are “considered very competitive” compared to other commercial marinas on the island, according to the transport ministry. The ministry made the statement as part of its preparations for the end of the contract concerning the integrated development of Larnaca Port and Marina, which terminates on May 27, 2024. In a bid […]

The Cyprus Chamber of Commerce and Industry (Keve) this week announced the establishment of the Cyprus-Baltic States Business Association. According to an announcement from the chamber, this initiative was implemented “in the context of its continuous effort to open new roads and prospects for Cypriot companies”. The chamber explained that the new association was created […]

Visitor numbers at restaurants, cafes and bars in Cyprus reached 90 per cent of their total capacity in August, according to Neophytos Thrasyvoulou, president of the Federation of Leisure Centre Owners (Osika). Speaking to the Cyprus News Agency (CNA), Thrasyvoulou noted that “August was a positive month for the sector, although some areas, such as […]

The Central Bank of Cyprus (CBC) this week released detailed interest rate data for deposits and loans from individual credit institutions. This marks the first instance of this report being published, with the CBC saying that these will be published on a monthly basis from now on. In addition, the CBC said that this initiative, which began with data […]

The Republic of Cyprus’ airports recorded their largest ever passenger numbers during the first eight months of the year. In total, exactly 8,179,421 passengers passed through Cyprus’ two airports between January and August – a 4.7 per cent increase compared to the same period last year. This figure was bolstered by the fact that more than […]

The period between January-August 2024 recorded the highest ever passenger traffic at the Larnaka and Pafos airports, the Ministry of Transport, Communications and Works has said. The Ministry noted in a press release that airport traffic during that period reached 8,179,421 passengers, showing an increase of 4.67% compared to 2023. The steady upward trend in […]

Approximately one in four employees, estimated to number 122,315 people, are expected to work in sectors contributing to the green economy, according to Cyprus’ Human Resource Development Authority (HRDA). The European Union (EU), through its European Green Deal, has set ambitious targets that include implementing policies and measures to achieve climate neutrality by 2050. A […]

My quest for great coffee continued in Siem Reap, Cambodia, though my hotels really came through and diminished my need to seek coffee outside. Best Coffee In Siem Reap, Cambodia One of my favorite parts of travel is finding the best coffee shop in each city. I look forward to doing it, and it has […]

Government employment in Cyprus recorded a 3.9 per cent increase in the first eight months of this year compared to the same period in 2023, according to a report released this week by the Cyprus Statistical Service (Cystat).  According to the report, the total number of people employed by the government reached 52,452 in August […]

The Cambodian tyre market is set to witness a significant boost as two new tyre factories with a combined investment capital of nearly $700 million enter the country. The two tyre factory investment projects were approved by the Council for the Development of Cambodia (CDC) in August 2024. According to the CDC, the investment project […]

The Deputy Ministry of Social Welfare has announced the commencement of a one-off grant of €150 as part of the support package for families with school-aged children for the 2024-2025 school year. This one-off grant amounts to €150 per family and will be paid directly into the bank accounts of families eligible for the child allowance, […]

Larnaca and Paphos airports experienced their busiest month ever in August 2024, with a total of 1.6 million passengers passing through. This marks a significant increase of 5.7% compared to the same period last year. According to ACI EUROPE, the top markets for Cypriot airports were the United Kingdom, Greece, Israel, Poland, and Germany. The most popular […]

Work on the Cyprus-Greece electrical interconnection (Great Sea Interconnector-GSI) project is continuing, Greek Environment and Energy Minister Theodoros Skylakakis said after the end of the GSI meeting at the Presidential Palace. He also noted that the negotiations will continue “also at the political level”. “As the President of the Republic said, this meeting was constructive. […]

Hellenic Bank successfully completed a €100 million Senior Preferred bond issuance under its €1.5 billion Euro Medium-Term Note (EMTN) programme, according to an announcement released on Wednesday by the bank. The bond was issued after meeting the customary conditions, with the total order book exceeding €370 million, representing a 3.7-fold oversubscription. The bond will be […]