Cyprus-flagged MV CYMONA OCEAN, a new Kamsarmax bulk carrier built by Japan’s Oshima Shipbuilding, has been delivered to the fleet of shipowner Nicolas Hadjioannou and will be managed by Athens-based Alassia NewShips Management Inc. The 82,000 DWT vessel, registered in Limassol, is powered by a MAN B&W 5S60ME-C10.5-EGRBP main engine and classed by a member of the […]
Revenue from taxes and social contributions climbs, but spending also accelerates Cyprus recorded a general government budget surplus of €557.6 million (1.6 per cent of GDP) in the period from January to June 2025, according to preliminary figures released by the state statistical service on Monday. This marked a slight increase from the €550.7m (also 1.6 per cent of […]
Local businesses embrace AI but face skills gap challenges Cyprus is steadily emerging as a regional player in digital innovation, technology adoption and artificial intelligence, transforming itself into a competitive hub in the Eastern Mediterranean. At the core of this evolution is a growing recognition among policymakers, business lead ers and technologists that the digital […]
Greece’s four systemic banks have posted strong profitability in the second quarter, with projections indicating that total earnings could reach €4.7 billion by the end of 2025. According to Greek news outlet Newmoney, the robust performance is largely driven by sustained credit activity, with full-year estimates for net credit expansion projected at €13 billion or […]
ABA Bank, Cambodia’s largest commercial bank, has been named Best Bank in Cambodia by the international Euromoney magazine for the twelfth consecutive year. This prestigious award recognises the Bank’s continued excellence and leadership in both physical and digital banking, reinforcing its role as a benchmark in the Cambodian and regional financial landscape. Digital innovation driving […]
Synopsis: The proposed plant will focus on producing high-quality, safe, and sustainable vehicles for both domestic and regional markets. Cambodia has been selected as the only country in ASEAN to be granted exclusive rights by General Motors (GM) to assemble Chevrolet vehicles, marking a major milestone in the Kingdom’s automotive industry. The announcement was made […]
Cyprus’ real estate market remains resilient and in high demand, with a strong start to 2025 confirming last year’s momentum, according to Cyprus Real Estate Agents Registration Council president Marinos Kyneyirou. In a statement released on Monday, Kineyirou said that demand remains high from both local buyers and foreigners, particularly from third countries such as […]
TUI BLUE Angkor Grace, a new five-star resort located just minutes from the iconic Angkor Wat Temple complex, officially opened its doors on July 30, setting a new benchmark for wellness-focused luxury in Cambodia’s premier tourist destination. The grand opening ceremony brought together high-ranking government officials, global travel industry leaders, media representatives and distinguished guests, […]
Cambodia’s renowned Angkor Archaeological Park earned $28.6 million from ticket sales in the first seven months of 2025, a year-on-year increase of 5.3 percent, said an official report released on Friday. The UNESCO-listed Angkor attracted 618,771 international tourists during the January-July period this year, a year-on-year rise of 5.8 percent, said the state-owned Angkor Enterprise’s […]
Synopsis: The new 19 percent import duty allows Cambodian products to compete fairly with regional countries, and attract more foreign direct investment, helping the Kingdom advance its economic growth ambitions, says Sun Chanthol, Deputy Prime Minister. With the new 19 percent import duty on Cambodian products entering the US market, the Royal Government expects to […]
Synopsis: The new routes will forge new economic bonds among Cambodia, China, and Japan, greatly facilitating travel for Cambodian and Japanese tourists. Air Cambodia (K6), the national flag carrier, will launch new routes between Cambodia and Japan starting from October this year, facilitating travel for Cambodian and Japanese tourists. The new route between Phnom Penh […]
Mr. Sin Chansereyvutha, Secretary of State and Spokesperson for Civil Aviation, announced details of the B737-8 MAX (Boeing 737-800 MAX) aircraft that Cambodia plans to purchase from the United States in 10 units, each of which costs between 90-120 million US dollars, depending on the type and options of each aircraft. Mr. Sin stated that […]
Household financial assets in Cyprus amounted to €61.9 billion at the end of March 2025, while household debt stood at 58% of Gross Domestic Product (GDP), according to the Central Bank of Cyprus (CBC). The debt of non-financial corporations reached 120% of GDP. The data is included in the CBC’s publication Quarterly Financial Accounts for […]
The Vice-President of the European Investment Bank (EIB), Kyriakos Kakouris, pays an official visit to Cyprus on Thursday, 31 July. According to a press release issued by the Ministry of Finance, the purpose of the visit is to sign the second tranche of a €100 million loan under the €200 million Loan Agreement between the […]
Synopsis: The safety and well-being of all tourists is, and will always be, the nation’s highest priority, says Ministry of Tourism. The Ministry of Tourism Friday has issued an announcement, reassuring the public and international community that the country remains a “safe and friendly welcoming destination” for tourists. The announcement comes in the wake of […]
The energy cooperation between Cyprus and Egypt for the development of the “Cronos” natural gas field is moving to the next phase, with the completion of significant technical and commercial agreements expected in the coming weeks. Cypriot Minister of Energy, Commerce and Industry Giorgos Papanastasiou referred to important developments following his meeting with Egypt’s Minister […]