Based on the remarkable achievement in Cambodia’s aviation sector last year, the State Secretariat of Civil Aviation (SSCA) anticipated more growth in air passenger movement this year as well. Addressing the closing ceremony of the SSCA’s annual meeting on Wednesday, Mao Havannall, Minister in charge of the SSCA, said that the SSCA has placed strategic […]
President Christodoulides on Wednesday announced a reduction in VAT on electricity prices for domestic consumption from 19% to 9%. He mmade the announcement while reviewing the government’s work for 2024. President Christodoulides stated, “As part of our policy for cheaper energy and broader tax reduction, as presented in our proposal for tax reform, I announce […]
The business world has given a vote of confidence to the under development new tax model for Cyprus, with business entities finding that the tax reform proposed by the University of Cyprus’ Economics Research Center (CypERC) is a move in the right direction and strengthening the country’s competitiveness. The positive lens through which the local […]
President Nikos Christodoulides announced that he will be visiting three US states in the immediate future, with a focus on attracting investments and strengthening diplomatic and economic ties through new diplomatic missions in selected countries. He revealed the news at a meeting with a delegation from Alpha Bank Greece and Cyprus at the Presidential Palace, […]
Cyprus’ tourism ministry this week launched the application process for a grant scheme aiming to enhance the qualitative and aesthetic appeal of Cyprus’ beaches. This initiative, according to the ministry, seeks to position Cyprus as a “destination accessible to every visitor.” In the statement, the ministry clarified the scheme’s objective to promote projects aimed at […]
Eurobank has outlined its strategic objectives following the acquisition of 100 per cent of Hellenic Bank in its public offer document, which details the roadmap for the acquisition process. The bank intends to proceed with the necessary steps to delist Hellenic Bank’s shares from the Cyprus Stock Exchange (CSE) upon completion of the offer. The public offer aims to secure the remaining […]
Cyprus has one of the lowest rates of online shopping complaints in the European Union, as only 14.7 per cent of its consumers reported issues, according to data released by Eurostat on Wednesday. Moreover, lowest shares were also reported in Portugal (4.3 per cent) and Latvia (13.7 per cent) In contrast, around one-third (33.1 per cent) of EU consumers faced challenges, with Luxembourg (55.5 per […]
Cambodia has taken a bold step towards enhancing its coastal appeal as Say Samal, Deputy Prime Minister and Minister of Land Management, Urban Planning, and Construction, and his spouse, led the groundbreaking ceremony for the upscale public beach resort “Prek Treng Beach” yesterday. Held in Village 3, Sangkat 1, Sihanoukville, the event attracted provincial leaders, […]
Cambodia welcomed 611,894 international tourists in the first month of this year, up 13.3 percent compared to the 540,023 tourists recorded during the same period in 2024, said a report from the Ministry of Tourism (MoT) yesterday. The rise of international tourists, mainly from Thailand, Vietnam and China, were announced by the Tourism Statistics Department […]
Korea Expressway Corporation (KEC) yesterday evinced interest in Cambodia’s highway projects, a statement issued by the company said. The KEC statement follows a meeting held between top company management and Kampong Thom Governor Nuon Pharat at the KEC ex-Smart Centre in Sujeong-gu, Seongnam, Gyeonggi province in South Korea, on Friday. The discussion focused on mutual […]
Prime Minister Hun Manet yesterday said that Cambodia can now produce and export processed products to other countries, a significant shift from the past when it was solely an importer of raw materials. He attributed this progress to the country’s strong human resources. Speaking at the graduation ceremony at the Vanda Institute in the Koh […]
Cambodia approved fixed-assets investment projects worth $1,069 million in the first two months of 2025 with a total number of projects of 104 projects, a Council for the Development of Cambodia (CDC) report showed yesterday. The approved investment projects would generate some 71,000 jobs for local people, said the report. Outstanding projects included an electronics […]
Cyprus recorded in January a general government surplus of 566.9 million euros (1.6% of GDP) according to the preliminary fiscal data by the Statistical Service (CyStat). The service said on Monday that the corresponding surplus for January 2024 amounted to €476.5 million (1.4% of GDP). Total revenue in January increased by €194.3 million (+14.3%) to […]
Total employment for the fourth quarter of 2024 is estimated at 500,606 persons, of which 448,007 are employees and 52,599 are self-employed. According to CySTAT, compared to the corresponding quarter of 2023, total employment increased by 1.7% for the 4th quarter of 2024. The most significant percentage increases were observed in the economic activities of […]
The interest rates of Cypriot banks for both deposits and loans are showing increased alignment with eurozone averages, according to data published by the Central Bank of Cyprus for December. The initiative aims to enhance market transparency and consumer awareness by providing detailed breakdowns of rates offered by individual financial institutions, enabling households and businesses to make more informed financial […]
Cyprus has implemented new restrictions on licensing solar farms on agricultural land, following recommendations from the Audit Office, Interior Minister Konstantinos Ioannou told the House Agriculture Committee on Tuesday. The committee continued discussions on protecting agricultural land from solar installations, with the Energy, Commerce and Agriculture Ministers attending alongside representatives from the energy regulator CERA, transmission system […]