Swedish-based company IKEA, which specialises in the production of furniture and household items, sees Cambodia as a potential location for investment expansion. The Swedish giant already has a presence in five countries around the region. Chea Vuthy, secretary-general of the Council for the Development of Cambodia (CDC), met with a delegation from IKEA led by […]

In today’s fast-paced business world, managing financial transactions efficiently, securely, and cost-effectively is crucial. Whether you’re dealing with cross-border payments, multi-currency transactions, or corporate expenses, having the right financial partner can streamline operations and save time. This is where Moneygate comes in – a trusted electronic money institution providing businesses with cutting-edge financial solutions designed for modern enterprises. Why Businesses Choose Moneygate […]

Hydrocarbon exploration and production company Energean announced on Thursday its audited full-year results for the year ended December 31, 2024. Mathios Rigas, Chief Executive Officer of Energean, stated, “During 2024, we have continued our growth trajectory with FY 2024 Group production rising by 24 per cent to 153 kboed, of which 112 kboed came from our flagship Karish and Karish North […]

The Cyprus Association of Research and Innovation Enterprises (CARIE) has put forward a number of proposals for enhanced tax incentives and relief measures for innovative businesses. These proposals were submitted to Finance Minister Makis Keravnos and Deputy Minister of Research, Innovation and Digital Policy Nicodemos Damianou. These proposals, the association explained, seek amendments to the income tax law […]

Israeli-owned Osopil Ltd has submitted environmental impact assessment plans for a major medical and hospital complex called “Hadassah Healthcare Park” in Lakatamia, with public consultations scheduled until April 12, 2025. The proposed development, with an estimated investment exceeding €150 million, will include a five-storey private hospital, a medical university, biotechnology offices, and student dormitories, establishing what would […]

Cyprus, with its strategic geographical position, has the potential to become a key hub for seaplane routes, both domestically and across the Eastern Mediterranean, according to Nikolas Charalambous, president and CEO of Hellenic Seaplanes. Speaking on Cypriot radio Spor FM, Charalambous emphasized that the Cyprus-based company, which has been operating in Greece since 2013, is […]

Cyprus’ full connection with the European eIDAS network is underway and will allow secure cross-border transactions between the member states of the European Union. An announcement by the Deputy Ministry of Research and Innovation says that the EU regulation provides for the mutual recognition and cross-border use of national electronic identification (eID) schemes maintained by the EU […]

The implementation of the special urban planning incentives scheme for developments in primary and secondary education, approved last week by the Council of Ministers following a proposal by the Ministry of Interior, is expected to generate significant multiplier benefits for Cyprus as an investment destination. With the education sector being one of the key pillars […]

Hourly labour cost in the fourth quarter of 2024 recorded an annual increase by 5.6%, according to CyStat.  On the basis of provisional data, it said it is estimated that in the fourth quarter of 2024 hourly labour costs (total cost) increased by 5.6%, compared with the same quarter of the previous year. The two […]

The Harmonised Index of Consumer Prices (HICP) rose by 2.3% between February 2024 and February 2025, and increased by 0.3% in the month between January 2025 and February 2025, according to Cystat. Compared to February 2024, the categories Recreation and Culture (7.2%) and Restaurants and Hotels (4.7%) showed the highest increases, while the category Clothing […]

Cyprus is poised to reap significant benefits as an investment destination following last week’s approval by the Councils of a new plan to provide urban incentives for developments in both primary and secondary education sectors. Initiated by the Ministry of Interior, this plan aims to bolster the education sector—a fundamental pillar of the state’s strategy […]

Salamis Tours, originally founded by Vasos Hadjitheodosiou, remains under the firm control of his family. Recently, E.V.H. Investments Limited, a subsidiary within the family’s business structure, increased its stake in Salamis Tours from about 80 per cent to 91.19 per cent. This move followed approval by the Cyprus Securities and Exchange Commission (CySEC) on March […]

Credit rating agency Moody’s on Wednesday upgraded the baseline credit assessment (BCA) and adjusted BCA of Hellenic Bank, shifting its outlook from stable to positive. Specifically, the agency raised the bank’s BCA from ba1 to baa3, its long-term deposit rating from Baa2 to Baa1, and its senior unsecured debt rating from Ba1 to Baa3. The decision was based on a combination […]

Phnom Penh, March 12, 2025 — The Council for the Development of Cambodia (CDC) and two leading firms, RMA (Cambodia) and Minebea (Cambodia), have discussed preparations for a productive 3rd meeting of the Automotive and Electronic Sector Development Council in April. The discussion on Mar. 10 was chaired by H.E. Nut Unvoanra, Deputy Secretary General […]