The retail trade sector, excluding motor vehicles, recorded robust growth in June 2024, according to Cystat. It said the Turnover Value Index increased by 5.5% compared to June 2023, while the Turnover Volume Index rose by 3.2% over the same period. From January to June 2024, the Value Index showed an increase of 5.3% compared […]
Alpha Bank Cyprus announced on Friday that more than 4,000 of its borrowers received over €3 million in benefits through the bank’s reward programme. The programme, which ran from August 1, 2023, to July 31, 2024, offered reduced interest rates and protection from rate increases for customers who were up-to-date with their payments. In its […]
The government has abandoned the idea of jointly developing Larnaca’s port and marina, announcing instead that it will spend some €30 million to upgrade the marina and surrounding area, heeding the suggestions of the city’s local stakeholders. As for the expansion of the port and marina, Minister of Transport, Communications and Works Alexis Vafeades said […]
The value of cashless transactions in Cyprus reached €129 billion in the second half of 2023, with a total of 152 million transactions, reflecting an increase of 12 per cent and 15 per cent, respectively, on an annual basis. This growth rate outpaced the eurozone average, which saw a 7 per cent increase in transactions […]
For all to grow and prosper, every single entrepreneur should be ready to adapt themselves into the society’s turning point through new innovations and digital transformation since adopting changes and learning new things keep us up with situation both in the region and the world. The remarks were made by H.E. SUN Chanthol, Deputy Prime […]
Cyprus airports are operating normally despite escalating tensions in the Middle East, according to Hermes Airports. The company reported no flight cancellations or schedule changes on Thursday. Maria Kouroupi, Director of Aviation Development and Communication, emphasised the importance of maintaining uninterrupted flight schedules during the peak summer season. “At the moment, we do not […]
The Minister of Interior, Sar Sokha strongly believes that the Chief Executive of the Hong Kong Special Administrative Region (HKSAR) of China will further promote investment and economic development in Cambodia’s priority sectors as the country aims to achieve a high-income status by 2030 and 2050. He made this statement on the occasion of receiving […]
A delegation of the Hong Kong Trade Development Council probed investment opportunities in Cambodia which has recently been ranked as the most potential destination for foreign direct investments (FDI) in 2024 by the FDI Standouts Watchlist for the year. The delegation from the Hong Kong Special Administrative Region of China, led by led by its […]
A total of 584,375 international tourists had visited Cambodia’s famous Angkor Archaeological Park in the first seven months of 2024, up 33% from 439,365 over the same period last year, said state-owned Angkor Enterprise on Thursday. The park made $27.17 million in revenue from ticket sales during the January-July period this year, up 33.8% from […]
The government has approved Larnaca’s request to develop its port and marina, opting to separate the two projects and proceed with urgent improvements, Transport Minister Alexis Vafeades announced on Thursday. At a press conference, Vafeades outlined the new implementation strategy, which aims to ensure long-term sustainability and allow specialised entities to manage each aspect of the […]
Larnaca is poised for a significant urban renewal, with a series of projects totalling over €22 million set to reshape its cityscape over the next two years. At the heart of the transformation lies a dual-pronged effort to revitalise the city centre. A €5.1 million project will see the complete reconstruction of the commercial district’s remaining unpaved streets, enhancing […]
Larnaca and Paphos airports saw a 4.5 per cent rise in passenger numbers in the first seven months of 2024, compared to last year, according to Maria Kouroupi, Director of Aviation Development and Communications at Hermes Airports. Kouroupi said that July alone saw approximately 1.5 million passengers, marking a 1 per cent increase from the […]
Eurobank announced on Wednesday evening that it had successfully completed its mandatory public offer to acquire up to 100 per cent of the issued share capital of Hellenic Bank. This resulted in Eurobank increasing its direct stake in the Cypriot lender to 55.886 per cent, which was rounded up to 55.9 per cent in the CEO Fokion Karavias’ statements accompanying the […]
Eurobank this week posted an adjusted net profit of €732 million for the first half of 2024, an increase of 22.2 per cent year-on-year, while reported net profit stood at €721 million. In addition, the bank’s financial results for this period showed that earnings per share stood at €0.20, while the return on tangible book value (RoTBV) stood at 18.5 per […]
The Council for the Development of Cambodia (CDC), the Hong Kong Special Administrative Region (HKSAR) of the People’s Republic of China and the Hong Kong Trade Development Council (HKTDC) Wednesday signed two memoranda of understanding (MoUs) to diversify the economy, develop private sector and foster sustainability for common benefits. Both agreements were inked in the […]
Cambodia’s tourism industry is making a strong comeback with the sector contributing significantly to the country’s economic growth. According to a report released by the National Bank of Cambodia, the Kingdom welcomed approximately 3.1 million foreign tourists in the first half of this year, injecting an estimated $1.7 billion into the economy. This represents a […]