The IMF also praised Cyprus’ economic resilience, projecting steady growth in the coming years. The International Monetary Fund (IMF) on Wednesday praised Cyprus for its strong economic recovery and fiscal discipline, while also recommending continued efforts to reduce public debt and address long-term needs following the latest Article IV consultation with the country. The executive board approved the […]
The Cambodia Chamber of Commerce (CCC) and the French Chamber of Commerce and Industry in Cambodia (CCIFC) have joined forces to strengthen investment cooperation between the two nations and unlock new opportunities for French businesses in Cambodia’s growing economy. The commitment was made at a meeting co-chaired by CCC President Kith Meng and Cyril Girot, […]
The Asian Development Bank (ADB) has launched a new country partnership strategy for Cambodia, spanning the period 2024–2028. The new strategy, closely aligned with the first phase of the national Pentagonal Strategy for the same period, aims to strengthen pathways for a sustainable, inclusive, and resilient economy in Cambodia. According to a press release issued […]
Cyprus witnessed a marginal rise in its ship management revenues in the latter half of 2023, which climbed to €638 million, up from €623 million in the preceding half-year. However, this represents a slight dip from the €648m recorded in the latter half of 2022, according to data released by the Central Bank of Cyprus. […]
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 the technology […]
Chief Scientist Demetris Skourides recently visited the Cyprus Institute of Neurology and Genetics (CING) where he praised the Department of Bioinformatics (C-BIG) for its exceptional expertise and diverse specialisations. According to a CING press release, Skourides emphasised the importance of developing multi-disciplinary scientific teams, highlighting the transformative impact of artificial intelligence on value creation and […]
In response to the rapid advancements in financial, regulatory, and supervisory technology (FinTech, RegTech, and SupTech), the Cyprus Securities and Exchange Commission (CySEC) on Tuesday announced the launch of its Regulatory Sandbox. This initiative represents the evolution of its previous Innovation Hub and is designed to offer a controlled environment for the testing of innovative solutions, under […]
The president of the Republic of Cyprus, Nikos Christodoulides, and the emir of Qatar, Sheikh Tamim bin Hamad Al Thani, on Tuesday expressed their mutual commitment to enhancing bilateral relations during the emir’s first official visit to Cyprus. The emir arrived at the Presidential Palace accompanied by several Qatari ministers. He was greeted by Christodoulides. […]
The Council for the Development of Cambodia (CDC) has given the greenlight to four new industrial investment projects to be launched in Kampong Speu province, marking the continued growth trajectory of the region’s booming industrial economy. The official approval for the new factories was confirmed during a meeting between Chea Vuthy, Secretary General of the […]
Setting its sights on wider horizons, the tourism ministry held preliminary talks virtually with the world’s second largest cruise liner at the Ministry of Tourism in the capital Phnom Penh on Monday. Interacting with the delegation from Silversea Cruises, a subsidiary of Royal Caribbean Group was Chuk Chumnor, Director General of Tourism Department and International […]
World Lin Chamber of Commerce (WLCC) is seeking investment potential in Cambodia in various areas, such as construction, real estate, agriculture, green energy, health, and so on. The information was shared by visiting WLCC World President Mr. Tan Sri Dato Lim Soon Peng, who led a delegation to pay a courtesy call to Hun Manet, […]
Limassol Municipality is expected to issue a building permit by the end of May for the Aura project, which will become Cyprus’s tallest building at 181.5 metres with 44 floors. The skyscraper will be constructed on the former site of the ERA Olympia shopping centre. Investors are finalising agreements to comply with compensatory measures set […]
Deputy Minister of Tourism Kostas Koumis pointed out the imperative of preserving tourist hotspots, particularly beaches, at the Cyprus Sustainable Tourism Initiative (CSTI) event titled ‘Beach without Plastics’. The gathering took place at Kampouri Beach in Ayia Napa, drawing attention to the ongoing efforts to reduce plastic use in these vital areas. “Beaches are undoubtedly […]
Transport Minister Alexis Vafeades underlined the government’s commitment to safeguarding public interest during his speech at the 29th annual general assembly of the Federation of Building Contractors Associations of Cyprus. Representing the President of the Republic, Minister Vafeadis highlighted the delicate balance between strong governmental partnerships and the upholding of public interest. In his address, […]
Cyprus is revising its current national industrial policy to align with the European approach, stated Marios Panayides, Permanent Secretary at the Ministry of Energy, during a recent EU Competitiveness Council meeting held in Brussels. According to an official announcement, the council adopted the conclusions “on a competitive European industry as a driver of our green, […]
The Cyprus Stock Exchange (CSE) and the Hellenic Energy Exchange (HEnEx) will sign a Memorandum of Understanding (MOU) governing negotiations on the secondary market of Guarantee of Origin certificates from renewable energy sources, it emerged on Monday. The signing ceremony is scheduled for Thursday, May 30, 2024, at the Presidential Palace. According to a statement released on Monday […]