Island Oil Holdings, a diverse conglomerate specialising in the supply and trading of marine fuels, has released its inaugural environmental, social, and governance (ESG) report, encompassing the fiscal years 2022 and 2023. According to the announcement, the company’s comprehensive report was prepared according to the Global Reporting Initiative (GRI) Standards 2021, as well as the […]
The Ministry of Commerce (MoC) Friday organised a meeting to strengthen business interaction between the cashew enterprises and representatives of supermarkets and marts to showcase the processed cashew nuts in the local markets nationwide. Tor Pila, Secretary of State of MoC chaired a meeting theme ‘Selling Processed Cashew Nuts to Supermarkets and Marts’ aimed at […]
In the first half of 2024, Cambodia exported more than 14,800 tonnes of fresh longan to the international market, an increase of 120 percent, compared to the same period last year with 6,725.07 tonnes, the Ministry of Agriculture, Forestry and Fisheries (MAFF) reported recently. Cambodia’s principal market for fresh longan is China. Im Rachna, a […]
Vietnam Airlines has announced a plan to operate direct flights between Hanoi and Phnom Penh starting October 27. The national flag carrier will run four round-trip flights using Airbus A321 aircraft on a weekly basis on Monday, Wednesday, Friday and Sunday. Currently, passengers travelling with the airline from Hanoi to Phnom Penh need to transit […]
The Royal Government in recent years has spent billions of US dollars for the development of three major infrastructure projects with an estimated budget of US $ 5.3 billion. The three projects are: 1. Phnom Penh-Bavet Expressway Development Project: This project is Cambodia’s second expressway project after the first Phnom Penh-Sihanoukville Expressway project. The Phnom […]
Invest Cyprus, represented by CEO Marios Tannousis, participated in the ‘Cyprus as a Destination of Opportunities for Indian Businesses’ webinar, organised by the Confederation of Indian Industry (CII). The event received strong support from H.E. the High Commissioner of India in Cyprus and H.E. the High Commissioner of Cyprus in India. During the webinar, Invest Cyprus […]
PHNOM PENH: A total of 338,654 tonnes of milled rice have been exported in the first six months of 2024, a year-on-year increase of 2.7 percent, earning a total revenue of US$247 million, up 7.8 percent from the same period last year, the Cambodia Rice Federation (CRF) said in a news release on Tuesday. The Cambodian milled […]
Low-cost airline Wizz Air celebrated a significant milestone this week, marking the transportation of 8 million passengers to and from Larnaca Airport since the company commenced operations in Cyprus. “This achievement underscores Wizz Air’s steadfast commitment to providing affordable and high-quality travel experiences,” the company stated in a press release. Wizz Air also highlighted that, […]
Cypriot lender AstroBank announced on Thursday the opening of its new branch in Dali, Nicosia, marking the 15th location in its expanding network. In its announcement, the bank noted that the branch is situated centrally at 1 Archbishop Makarios III Avenue, “ensuring easy access for the public”. “AstroBank’s aim is to effectively meet the contemporary […]
The Cyprus Investment Funds Association (CIFA) on Friday expressed satisfaction with the increase in Assets Under Management (AUM) of Cypriot investment funds. According to the latest data released this week by the Cyprus Securities and Exchange Commission (CySEC), Cyprus’ total AUM reached €9.1 billion at the end of the first quarter of 2024. This represents a […]
Greek airline Aegean on Friday announced that it carried 4.4 million passengers during the second quarter of 2024, recording an 8 per cent increase in passenger traffic. Furthermore, it reached a total of 7.3 million passengers during the first half of the year, which marks a 9 per cent increase compared to last year. In […]
Government employment increased by 4.8% in the first half of 2024, compared to the corresponding period of 2023, according to Cystat. In June 2024, total government employment reached 54,153 persons. For the period January – June 2024 average total government employment reached 54,721 persons, marking an increase of 2,524 persons (4.8%) compared to the corresponding […]
An increase in all sectors of economic activity was recorded in 2022 according to the results of CySTAT’s Services and Transport Survey, while the tertiary sector of the economy registered a positive growth rate in 2022 compared to 2021. According to the results of the Services and Transport Survey, production value during 2022 showed an increase […]
Dr. Hun Manet, Prime Minister of Cambodia, presided over the opening ceremony of the three-day France-Cambodia Business Forum, held at the Sofitel Phokeethra Phnom Penh this morning. The opening ceremony also saw the exchange of a Memorandum of Understanding (MoU) between the Cambodian Chamber of Commerce and the French Chamber of Commerce and Industry in […]
Hermes Airports, the operator of Larnaca and Paphos airports, has released preliminary estimates for passenger traffic and airline market share for 2024. Destinations: Unsurprisingly, the United Kingdom retains the top spot for inbound and outbound travel, followed by Greece, a popular choice for Cypriot students and vacationers. Also, arrivals from Israel have rebounded, according to […]
The Central Bank of Cyprus (CBC) presented the benefits of the planned digital euro at a press conference on Tuesday, while also providing details on the efforts being made behind the scenes to ensure its successful implementation. Among the advantages highlighted were its wide acceptance across the EU, stringent security standards, user-friendly nature, and guarantee […]