Acciona Energía, an energy development industry based in Madrid, is planning to set up wind power generation projects in the Kingdom, while Insud Pharma, a pharmaceutical manufacturing factory, intends to expand operations across Southeast Asia countries. Sun Chanthol, Deputy Prime Minister and First Vice-Chairman of the Council for the Development of Cambodia (CDC), visited Insud […]
The Royal Government of Cambodia expects the country’s economy to grow by six percent this year which tallies with the projection for the country made by the International Monetary Fund (IMF) recently and is also close to the 5.8 percent forecast given by the World Bank and the Asian Development Bank (ADB). Sharing the government’s […]
According to official reports on Wednesday, Cambodia earned a total of $384.4 million from the exports of milled rice and dry rubber during the first five months of 2024. A report from the Cambodia Rice Federation indicated that the kingdom exported 302,592 tons of milled rice to 63 countries and regions during the January-May period […]
Indonesian President Joko Widodo has asked the State Logistics Agency (Bulog) to consider acquiring a rice producer in Cambodia. He argued that it was better for Indonesia to invest in one producer rather than constantly importing from neighbouring countries. Data from the US Department of Agriculture showed that Indonesia is the world’s fourth largest rice […]
Eurobank on Monday, June 10, purchased an additional 503,934 shares in Hellenic Bank at a total cost of €1.29 million, increasing its stake to 55.42 per cent, with this purchase being made at €2.56 per share. In an announcement released this week, Eurobank S.A., a subsidiary of Eurobank Ergasias Services and Holdings S.A., confirmed the […]
Cyprus’ tourism revenue soared to its highest level for the month of March in at least 23 years, achieving a robust increase of 15.5 per cent compared to the same period last year, according to a report released this week by the Cyprus Statistical Service (Cystat). The report noted that the first quarter of this […]
The Cyprus Securities and Exchange Commission (CySEC) on Tuesday announced the official release of its regulatory sandbox, with the presentation of the launch taking place during an online event. In its announcement, the commission said that “this initiative marks a significant milestone in the advancement of financial, regulatory, and supervisory technologies (FinTech, RegTech, and SupTech) in Cyprus”. During […]
The Shipping Deputy Minister to the President, Marina Hadjimanolis, visited Athens between 1-7 June, on the occasion of Cyprus’s participation in the International Maritime Exhibition “Posidonia 2024.” According to a Deputy Ministry press release, within the framework of the exhibition, Hadjimanolis participated in actions and initiatives aimed at promoting Cyprus Shipping and visited the exhibition […]
Spanish Secretary of State for Trade H.E. Ms. Maria Amparo Lopez Senovilla responds positively to Cambodia’s ‘door-knocking’ mission to bring in more investments from Europe. H.E. Sun Chanthol, Cambodia’s Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia (CDC) received a positive response when leading a delegation to meet […]
Cambodia’s insurance sector continued to expand, but at a slower pace, with the total premium reaching $96.5 million in the January-March period this year. The premiums went up nine percent year-on-year, a report by the Insurance Regulator of Cambodia (IRC) said yesterday. Cambodia’s insurance market comprises 18 general insurers, 14 life insurers, seven micro-insurance companies, […]
Cambodia on Monday proposed Spain to consider entering into a bilateral treaty aimed at facilitating investment and strengthen business interaction. Sun Chanthol, Deputy Prime Minister and First Vice-Chairman of the Council for the Development of Cambodia (CDC) told Maria Amparo López Senovilla, Secretary of State of the Ministry of Economy and Competitiveness (MINECO) of Spain […]
Hellenic Bank actively supports various initiatives to enhance financial literacy, including the ‘Financial Alphabet’ programme, the final event of which was hosted at the bank’s headquarters in Nicosia. According to a statement released on Monday by Hellenic Bank, the ‘Financial Alphabet’ educational programme was implemented in Cyprus by ActionAid Hellas, with funding from the European […]
Revenue from tourism reached an estimated €223.3m in January–March 2024, rising 11.7% compared to €200m in the first quarter of 2023, Cystat said. Based on the results of its Passengers Survey, in March, revenue from tourism reached €113m, compared to €97.8m in the corresponding month of 2023, recording an increase of 15.5%. The average expenditure […]
The share of hybrid cars rose from 26.6% to 37.3% during the period of January-May 2024, compared to the same period of 2023, according to Cystat. At the same time, the share of petrol powered passenger cars dropped to 49.3%, from 60.8% in the corresponding period of 2023. The total registrations of motor vehicles during […]
Total Employment for the first quarter of 2024 is estimated at 474,587 persons, marking an annual increase of 2.2%, data published by CySTAT show. According to CySTAT, of the total 474,587 persons, 425,090 were employees and 49,497 were self-employed. The most significant percentage increases were observed in the economic activities of Administrative and Supporting Service […]
The Deputy Ministry of Tourism has introduced the “Historic Hotels of Cyprus” label in a bid to establish the basic characteristics that a hotel or tourist accommodation business must have in order to be classified as a “Historic Hotel”. Through the action, the Deputy Ministry aims to improve the image of Cyprus as a tourist […]