Economic sentiment in Cyprus improved in May 2024, with the Economic Sentiment Indicator increasing by 1.6 points compared with April. According to the Economics Research Centre of the University of Cyprus (CypERC), the increase was mainly driven by stronger business confidence in services. The increase in the Services Confidence Indicator was attributed to firms’ improved […]
The increased expectations of the Government and the great importance it attached to the visit of the Emir of Qatar, Tamim bin Hamad Al Thani, were confirmed in the clearest way during his meeting with the President of the Republic, Nikos Christodoulides. According to InBusinessNews sources, during both the private meeting and the extended talks […]
Industrial Production in Cyprus rose by an annual 3.4% in March, marking annual gains for the eleventh consecutive month. According to data published Cystat, the Industrial Production Index in March reached 107.8 units (base 2021=100). For the period January – March 2024, the index recorded an increase of 4.8% compared to the corresponding period of […]
Official data from Cypriot and Polish authorities confirms Paphos as the most popular Cypriot destination for Polish tourists. Polish tourist arrivals in Cyprus surged 45% in 2023 compared to 2022, exceeding 273,500 visitors. Notably, Paphos captured nearly half (49%) of all Polish tourists visiting Cyprus. Unprecedented air connectivity between Paphos and Poland bolsters this trend. […]
PHNOM PENH, May 31, 2024 – Prime Minister Hun Manet today announced that construction of the Funan Techo Canal is set to commence in August. He spoke about the project at the opening of the Buddhist Cultural Centre of Cambodia in Phnom Sruoch district, Kampong Speu province, describing it as “a significant national symbol and […]
Hungary is committed to further boosting investment and trade with Cambodia. The commitment was made by H.E. Tibor Baloghdi, Ambassador Extraordinary and Plenipotentiary of Hungary to Cambodia, during a meeting with H.E. Huot Hak, Minister of Inspection in Phnom Penh, on May 28. H.E. Tibor Balogdhi underlined that further promotion of economic cooperation, investment, and […]
The Council for the Development of Cambodia (CDC) recently organised a meeting to draft a roadmap and form an advisory council for the effective development of the automotive and electronic sectors in the Kingdom. Nut-Un Vaoanra, Deputy Secretary General of the Cambodian Investment Board (CIB) of CDC presided over the technical inter-ministerial meeting to establish […]
The Council for the Development of Cambodia (CDC) has approved four new industrial investment projects worth USD $25 million which are expected to create over 1,200 jobs in the Kingdom’s Southwest. These new projects located in Kampong Speu province and the surrounding regions cover a diverse range of manufacturing activities, including medical equipment, light bulbs, […]
The capital city’s infrastructure upgrades, like the Phnom Penh Autonomous Port, new airport, highways, will prove of great advantage to SME clusters of WorldBridge, said Allen Dodgson Tan, Chief Strategy Officer, WorldBridge. He said this at a meeting with diplomats from various countries at the WorldBridge i4.0 SME Cluster zone in Kandal province, hosted by […]
TOKYO — Cross-border QR code payments made through Cambodia’s Bakong digital financial system are set to boost the use of the Southeast Asian nation’s riel currency, the governor of its central bank told Nikkei Asia on Friday. Over 80% of Cambodia’s economy still operates with the U.S. dollar as part of a dual-currency system, with […]
Invest Cyprus, the state agency dedicated to promoting Cyprus as an international investment destination, on Tuesday announced that it took part in the prestigious technology event Viva Technology held in Paris from May 22 to 25, allowing it to showcase the island’s credentials as a technology and business centre. Viva Technology is a leading event in […]
Tototheo Maritime, a group of companies offering a range of services in the field of maritime satellite communication technologies, on Wednesday announced its strategic rebranding to Tototheo Global. “This significant milestone marks Tototheo’s evolution to a global leader in technology solutions,” the announcement said, noting that “Tototheo Global is now set to deliver comprehensive, innovative […]
The Cyprus Shipping Chamber (CSC) this week expressed its approval of the recent call by EU Member States for a comprehensive European Maritime Industrial Strategy aimed at bolstering the competitiveness of the maritime sector. It should be noted that this call was formally adopted through an EU Council Conclusion on Friday, May 24. In a […]
The Cyprus Research and Innovation Foundation (RIF) on Wednesday announced three new national funding programmes aimed at enhancing research excellence and increasing participation and success in the European Research Council (ERC), in the context of Horizon Europe. According to the announcement, the total budget allocated for these schemes amounts to €1.8 million. Vision ERC The foundation explained that the first […]
Increased interest income, driven by successive interest rate hikes from the European Central Bank (ECB), has significantly boosted Cypriot banks’ profits in the first quarter of 2024, which amounted to €226 million during this time. A detailed review of banks’ financial results for this quarter reveals that these interest rate hikes have led to a […]
The ten most expensive property sales in Cyprus amounted to an impressive €16.2 million in April of this year, with Limassol continuing to feature prominently at the higher end of the market, according to a report released on Wednesday by real estate analytics firm Ask Wire. The highlight of these high-profile transactions was a house in Paphos’ Kouklia, which sold for a […]