Water Festival 2024 worth around 600 to 700 million dollars to Cambodian economy, say experts
Dr. Hong Vannak, an economist at the Royal Academy of Cambodia, has stated that tourists visiting the Water Festival last week made significant contributions to economic activity He added that this spending is not only for the three days of the Water Festival, but people, especially people from the provinces, have been staying in Phnom […]
Cambodia exports textiles, garments, footwear, travel goods worth $11.4 bln in first 10 months
year, a year-on-year increase of 14.5 percent, the report said, adding that garments worth 8 billion dollars were shipped to international markets, up 23.6 percent. The report added that $1.33 billion worth of footwear was exported, up 22 percent, while travel goods equivalent to $1.69 billion were sold to the international market, up 20.6 percent. […]
Cambodia, Malaysia trade rises 35%
Trade between Cambodia and Malaysia reached $715 million in the January to October period this year, a jump of 35.3 percent compared to the same period last year, according to the data of the General Department of Customs and Excise (GDCE) released recently. While Cambodia’s exports to Malaysia reached $110 million in the period, rising […]
Cyprus sees consumption boom amid rising inequality
Despite recent inflation-driven cost of living concerns, Cyprus’s middle class appears to be thriving based on consumption patterns, even as social inequalities widen, new data suggests. Key economic indicators show growth across multiple sectors, with increases in retail turnover, property sales, foreign travel, vehicle purchases, and particularly strong growth in food service and delivery sectors. However, […]
October tourist arrivals at new all-time high, as ten-month arrivals mark new record
Tourist arrivals edged close to 3.73 million in the period of January to October 2024, recording an annual increase of 4.6% as well as a small increase of 0.81% compared with the respective period of 2019, a record year for Cypriot tourism. Furthermore, based on data by CySTAT, tourist arrivals in October 2024 amounted to 459,106 […]
Bank of Cyprus executes share buyback — Wellington increases stake
The Bank of Cyprus on Tuesday announced that it has repurchased 50,000 of its ordinary shares with a nominal value of €0.10 each. The transactions were executed on November 18 on the Cyprus Stock Exchange (CSE) and the Main Market of the Athens Stock Exchange (ATHEX) through the company’s broker, the Cyprus Investment and Securities […]
IDEA Innovation Centre opens applications for startup programme
The IDEA Innovation Centre, an initiative by the Bank of Cyprus, this week announced that it is now accepting applications for the tenth cycle of its startup programme. Aspiring entrepreneurs with innovative ideas are encouraged to apply by February 14, 2025. As the largest innovation and business support organisation in Cyprus, IDEA is calling for […]
Landlords in Cyprus make three times more than depositors
Rental property investments in Cyprus are generating significantly higher returns than bank deposits, with rental yields ranging from 4 to 6 per cent compared to the average bank deposit rate of 1.98 per cent for one-year household deposits, according to October data. Property consultancy Danos International reports that Limassol, which has seen the highest rent increases in recent […]
UK Trade Mission bridges ASEAN women entrepreneurs and UK businesses in Cambodia
UK-ASEAN Trade Mission in Cambodia (18-19 Nov) connects ASEAN women entrepreneurs with UK consumers. Similar B2B events to follow in Jakarta this week. The UK-ASEAN Trade Mission, part of the UK Government-funded UK-ASEAN Collaboration on Women’s Economic Empowerment, will connect women entrepreneurs from ASEAN with UK consumers on 18 and 19 November in Phnom Penh, […]
26 Japanese investors interested in studying investment opportunities in Cambodia
A group of 26 Japanese investors has shown interest in exploring investment opportunities in Cambodian agriculture, food processing, and aquaculture. Hun Manet, the Prime Minister of the Kingdom of Cambodia, received this group yesterday at the Peace Palace. Takahashi Fumiaki, former Japanese Ambassador to Cambodia and current President of the Japan-Cambodia Association (JCA), who led […]
Newest National-Level Urban Area in Cambodia, SNC Sihanoukville New City Actively Seeking Investment
SNC Sihanoukville New City, the Kingdom’s latest cutting-edge coastal development opportunity, covers an area of 2,500 hectares and is located adjacent to Sihanouk International Airport, just a 10-minute drive from the Phnom Penh- Sihanoukville Expressway. Planned by the Tongji Design Institute of China, it aims to create a future centre for Sihanoukville through an industrial […]
Buying a house takes eight months in Greece and just four days in Cyprus
It takes around eight months to complete a house purchase in Greece, while in Italy it takes 120 days and in Cyprus only up to four days. Issuing a property identification number without the competent authorities having been digitized is the biggest problem. Almost one in two residences shows some surface discrepancy, between how it […]