Cyprus Business Now

Cyprus Business Now

International credit rating agency Standard & Poor’s (S&P) this week upgraded the long-term credit rating of the Bank of Cyprus to BB+ with a positive outlook. This upgrade follows S&P’s recent upgrade of Cyprus’ sovereign credit rating last Friday, which also received a positive outlook. In addition, the agency explained that the upgrade reflects the […]

Read More
RIF launches €930,000 programme to fuel new product development

RIF launches €930,000 programme to fuel new product development

The Research and Innovation Foundation (RIF) this week announced the launch of a new programme titled “Enterprises Capacity Building in New Product Development.” According to the announcement, this initiative aims to bolster businesses with 30 or more employees, enabling them to recruit qualified personnel and innovate with new products or services. To streamline the process, […]

Read More
Cyprus showcases tech and innovation potential at London Tech Week

Cyprus showcases tech and innovation potential at London Tech Week

The Ministry of Energy, Commerce and Industry, in collaboration with the Cyprus Trade Centre London, took part in the London Tech Week exhibition by hosting an informative booth. Held June 10 to 12, 2024 at the Olympia Exhibition Centre in London, the event is widely regarded as the UK’s premier annual technology and innovation exhibition. […]

Read More
Damianou highlights strategic importance of AI and data at CITEA conference

Damianou highlights strategic importance of AI and data at CITEA conference

Deputy Minister of Research, Innovation and Digital Policy Nicodemos Damianou on Thursday set a forward-looking tone at the 3rd CITEA Digital Cyprus Conference, focusing on the potential and strategic importance of both Artificial Intelligence (AI) and data in shaping Cyprus’ digital future. In a virtual address from Athens, Damianou reflected on his participation in a […]

Read More
Cabinet approves extension of measures to compensate high living costs

Cabinet approves extension of measures to compensate high living costs

The Cabinet has approved a proposal by Finance Minister Makis Keravnos for the extension of measures to compensate the living costs of Cypriot households. They fall in the framework of targeted measures, taking into account the fiscal conditions and challenges as well as the summer climate conditions on the island, Government Spokesperson Konstantinos Letymbiotis said, following the Cabinet’s […]

Read More
Tourism gets boost from Flood holiday weekend

Tourism gets boost from Flood holiday weekend

The tourism industry is set for a significant boost during the upcoming Festival of the Flood (Kataklysmos) long weekend, with locals and foreign visitors alike expected to take advantage of the favourable weather and extended break. Hotel occupancy rates are projected to surpass 80% nationwide, exceeding 90% in some popular destinations, according to Philokypros Roussounides, […]

Read More
AirAsia to fly directly from KL to Sihanoukville

AirAsia to fly directly from KL to Sihanoukville

AirAsia will fly directly from Kuala Lumpur, Malaysia to Sihanoukville International Airport in July to seize the flow of tourists to Cambodia’s coastal province. According to a statement issued by AirAsia Cambodia on Thursday, the flights will be operated directly from Kuala Lumpur to Sihanoukville from July 3, with three flights per week: Wednesday, Friday […]

Read More
Minebea to build second factory in Pursat

Minebea to build second factory in Pursat

Minebea Cambodia, a subsidiary of MinebeaMitsumi, a Japanese precision components manufacturer, will expand its production chain in Cambodia by building its second factory in Pursat province, some 180 km north of Phnom Penh. “Minebea Cambodia will start constructing its second factory in Pursat in September this year,” said Keo Rattanak, the Minister of Mines and […]

Read More

CCC asks Singaporean investors to invest in Cambodia

President of Cambodia Chamber of Commerce, Kith Meng, called on Singaporean investors to invest in some other untapped potential areas to further build a strong economic tie between the two ASEAN nations. Addressing the Cambodia-Singapore Business Forum in Singapore on Wednesday, Meng, who is also the Chair of ASEAN-BAC Cambodia, said the forum serves to […]

Read More

Japanese giant company to expand investment in Pursat province

In the near future, the Japanese giant company Minebea Mitsumi will open the construction site of its second factory in Pursat province’s Krakor district, which will create many new jobs for young people in Cambodia. This second factory invests in the power sector. On the official telegram of the Ministry of Mines and Energy on […]

Read More
Plan to get CVTEC maritime route test-ready by November

Plan to get CVTEC maritime route test-ready by November

The proposed maritime route linking the Cambodian islands off Sihanoukville with the nearby islands of Thailand and Vietnam may get ready for tests by November and can increase trade, tourism and investment opportunities in the destinations. The proposal has been lined up under the Cambodia, Vietnam, Thailand Economic Corridor (CVTEC) initiative, said Long Dimanche, the […]

Read More