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 […]
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. […]