The Deputy Ministry of Shipping will participate in the ‘Sea Japan’ international shipping exhibition in Tokyo, from April 10 to 12. In an announcement, it said that ‘Sea Japan’, an international maritime exhibition, which is held every two years, has established itself among the most important such exhibitions in Asia. The exhibition, first held in 1994, […]
The Cyprus Statistical Service (Cystat) has released a report ‘Registration of Motor Vehicles’ for January-March 2024, highlighting a market where electric and hybrid cars, along with motor coaches, buses, and cargo-carrying vehicles are on the rise, while petrol and diesel cars, rental cars, and passenger saloon cars are experiencing a decline. In March 2024, the total registrations of motor vehicles slightly […]
Banking and FinanceBusinessCyprusCyprus Business News Keravnos targets enrichment of economic model By Souzana PsaraApril 9, 20240 Comments76SHARE0 The enrichment of Cyprus’ economic model is of vital importance, said the finance minister, Makis Keravnos, stressing that “the bet is to maintain the investment level” which was objective of the government’s economic policy. Speaking at the 14th Nicosia […]
Intership Navigation will be investing in digital ship management solutions following a management buyout which led to a strategic partnership with MariApps Marine Solutions Through this partnership, Limassol-based Internship, which manages a fleet of 100 ships, will implement MariApps’ smartPal suite, covering various operations. MariApps Marine Solutions is a maritime digital solutions company focused on […]
The profitability of the Cyprus banking sector remarkably spiked by an annual 644 per cent in 2023, reaching €1.27 billion. This significant increase was fueled by the high-interest environment, according to data released by the Central Bank of Cyprus (CBC). According to the aggregate Cyprus banking sector data published by the CBC, net interest income for […]
Real estate transactions hit an all-time high in Cyprus last year, Deloitte has said in a report, noting that interest was focused on the residential market and on the seaside city of Limassol. It also said that it expects interest to remain strong this year, though luxury condos in high-rise developments may see a decline. […]
The government’s main concern is to improve businesses’ access to funding, which is something that has been discussed with the newly-appointed Central Bank Governor, President Nikos Christodoulides said addressing the 14th Nicosia Economic Congress. The President also revealed that the action plan for the establishment of the National Development Agency will be revealed to the […]
Amid the rising trend of renewable energy demand and the use of electric vehicles (EVs) in the Kingdom, the Royal Government of Cambodia (RGC) asked businessmen to seize the opportunity by investing in the EV-related industry that comes with a range of benefits for both the consumers and the environment. Presiding over the ‘RMA Cambodia […]
Kampot province is even more attractive to tourists after the statue of the “sea horse” spraying water in the garden in front of the old provincial hall was completed. This 8-metre-tall sea horse statue has water spraying from its mouth and is decorated with coloured lights. Many national and international tourists visit and take souvenir […]
Cambodia’s economic growth is forecast to strengthen in 2024 with continued moderating inflation, said an ASEAN+3 Macroeconomic Research Office (AMRO)’s regional economic outlook released on Monday. The report said Cambodia’s economy is expected to grow at 6.2 percent this year, up from 5.3 percent last year. It added that inflation is projected to accelerate to […]
CHN Energy Investment Group Co. LTD, a state-owned mining and energy company in China, has proposed energy investment focusing on renewable power sources – solar PV and hydropower dams. In a meeting held on Monday between representatives of CHN Energy and Suon Sophal, Deputy Secretary General of Cambodian Investment Board at the Council for the […]
The Kingdom of Cambodia ranked first in ASEAN and third among the 20 fastest growing economies in Asia with a growth rate of 6.1% in 2024. According to Pen Bona, spokesperson of the Royal Government of Cambodia, the ranking of economic growth published by the Indonesian statistics firm SeasiaStats is based on the forecasts of […]
Many resorts in Kampong Cham province are ready to welcome national and international tourists on the occasion of Khmer New Year with colourful decorations, strengthen security, and order to provide safety to create fun and attract more tourists to visit than in previous years. Sean Sokun, Director of Kampong Cham Provincial Department of Tourism, said […]
The services sector performed very well in 2023 said the Employers and Industiralists Federation (Oev), with significant improvements registered in several key areas. Notably, the indicators for accommodation and catering services saw an impressive increase of 18.9 per cent, administrative and support services grew by 15.5 per cent, professional, scientific, and technical activities by 2.7 […]
Kedipes has announced a new repayment plan for non-performing loans (NPL) that would be secured by a primary residence, with a market value of up to €350,000. In a detailed statement, Kedipes said that this initiative is part of its long-term commitment to finding consensual solutions tailor-made for the specific circumstances of each borrower. Working […]
Minister of Energy, Commerce and Industry George Papanastasiou has departed for Tokyo, Japan, where he will participate as head of a business delegation in the Cyprus-Japan Business Forum on 9 April. The event is being co-organised by the Ministry of Energy, the Cyprus Chamber of Commerce and Industry and the Republic of Cyprus Trade Centre […]