Here are the top business stories in Cyprus from the week starting February 10: Cypriot banks have lowered their key interest rates, with expectations of further reductions throughout 2025, in response to decisions made by the European Central Bank (ECB). The director of retail banking at the Bank of Cyprus, Theodosios Theodosiou, stated in an interview with state […]
Strategies to boost trade and economic relations between Cambodia and Europe were discussed as Tekreth Kamrang, Secretary of State of the Ministry of Commerce, received Salah Essa, Head of delegation and Honorary Consul of Cyprus with Honorary Consuls from Austria, Italy, Sweden, and the Netherlands. They exchanged views on mechanisms to promote bilateral trade relations […]
A technical skills training program in electric vehicles could help attract more Korean investors to Cambodia, said Heng Sour, Minister of Labor and Vocational Training (MLVT), during a meeting with Kim Jin-Pyo, former Speaker of the National Assembly of the Republic of Korea and Board Chairman of Global Together on Wednesday. During the meeting, both […]
Amid clean energy becoming a massive growth opportunity, experts say that Cambodia is well-positioned to become a champion of green energy manufacturing. According to them, the decline in the sale of solar panels last year is not a major cause of worry as it followed the expiration of the US preferential tariff for solar panels […]
Cambodia is expanding rice exports to the Philippines market, exploring export partners and buyers to form partnerships on rice trade cooperation. Kim Sreyroth, Under Secretary of State at the Ministry of Commerce, led a Cambodian delegation including representatives from the Cambodia Rice Federation to take part in the Cambodia-Philippines Rice Business Matching event on Tuesday […]
A pioneering environmental programme in Cyprus is transforming used cooking oil into biofuel by enlisting schoolchildren as collection agents, achieving strides in tackling waste management. The “Tiganokinisi” (frying pan) initiative, which became part of Cyprus’s national curriculum in 2018, reaches more than 80,000 schoolchildren annually through a mobile science laboratory that visits schools across the island. […]
The Environmental Authority has approved the conversion of tourist apartments into a 480-bed hotel in Prodromi, Polis Chrysochous, in a project valued at €55 million. The development, set to become a four-star hotel with capacity for 720 guests, is expected to take 18 months to complete once necessary permits are secured and construction begins. The existing […]
Cyprus experienced growth across a number of key economic sectors, according to the state statistical service. In its latest report, which analysed monthly economic developments from January to December 2024, the service provided a comprehensive overview of the most recent economic trends in Cyprus. The report included a comparison of data from the past four […]
Hong Kong investor Balram Chanrai is steadily increasing his ownership of Agros Development Company ‘Proodos’ Public Ltd, which owns the Rodon hotel in Agros. Based on the announcements on the Cyprus Stock Exchange (CSE), since the beginning of 2025 up to February 12, he has made approximately 20 share purchases, now holding 35.96 per cent […]
Cyprus’ Deputy Minister of Innovation, Nicodemos Damianou, and UAE Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, Omar Sultan Al Olama, have signed a Memorandum of Understanding on artificial intelligence cooperation. The signing took place at the World Governments Summit in Dubai on February 12-13, highlighting the commitment of both nations […]
Bank also earns key compliance certification The Bank of Cyprus this week presented its revamped branch network model, inaugurating its newly renovated branch on Archbishop Makarios III Avenue in Nicosia. The event, held on Wednesday afternoon, was attended by the Nicosia Mayor Charalambos Prountzos, along with the city’s deputy mayors. Retail Banking Director Theodosis Theodosiou explained that in-store […]
Deputy Shipping Minister Marina Hadjimanolis visited Doha from February 4 to 6, in a move to strengthen maritime ties, according to an announcement released on Friday. Invited by Qatar’s Minister of Transport, the visit provided an opportunity for key discussions on enhancing sustainable development and expanding maritime infrastructure”, with a focus on deepening cooperation between […]
A Cypriot property developer has unveiled plans for a 1-billion-euro mixed-use development in Prastio Avdimou, which could become one of the largest private investments in the country. The project, named St Nicholas Hills, will include a hospital, private school, university, and student accommodation for 12,000, DNP Property Group announced. The development will be built on […]
The environment department has given approval for a €55 million project to convert an existing tourist apartment complex into a 480-bed, 4-star hotel in Polis Chrysochous, it emerged on Wednesday. In addition, the department noted that the approval is subject to specific conditions and input from various stakeholders. According to the environmental study submitted by […]
The Securities and Exchange Regulator of Cambodia (SERC) is collaborating with the Asian Development Bank (ADB) to establish a regulatory framework for digital assets in the country. During a virtual meeting on February 11, SERC Director General Sou Socheat, together with Deputy Director General Vin Pheakdey, Head of the regulator’s Fintech working group, engaged with […]
The Ministry of Industry, Science, Technology, and Innovation (MISTI) registered 1,292 new small and medium enterprise (SMEs) in 2024, bringing the formally registered SMEs to 43,970 as of last year. The registration processes were made through various channels including online registration which the ministry has boosted to make registering through it easy and timely. Seventeen […]