Cyprus’ refinancing needs will remain within manageable levels for the coming years, well below the ten per cent of GDP threshold. Projections estimate requirements at around three per cent of GDP in 2025 and 2026, and at approximately 4.5 per cent in 2027, according to a financial outlook report by the Finance Ministry. The report […]
The Ministry of Culture and Fine Arts, in collaboration with the Ministry of Tourism and the Khmer Artists Association, organized the second edition of the ‘Smile of Cambodia’, an initiative aiming to promote and attract tourists to Cambodia for the year-end, while also preparing for the anticipated arrival of visitors in 2025. The Smile of […]
Cambodia’s aviation sector is experiencing a significant uptick in 2024 with the country’s three international airports handling a combined 4.5 million air passengers from January to September, up 22 percent from 3.7 million recorded in the same period last year, according to a report from State Secretariat of Civil Aviation (SSCA). Cambodia has domestic and […]
The Cambodian government has approved a draft budget of more than $9.3 billion for 2025, with economic growth projected at 6.3 percent. This growth is anticipated through gains in key sectors, including industry (8.6 percent), services (5.6 percent), and agriculture (1.1 percent). Inflation is projected at 2.5 percent. Cambodia’s GDP is expected to reach about […]
The Council for the Development of Cambodia (CDC) and the International Monetary Fund (IMF) have discussed and exchanged views about improving mechanisms for collecting and compiling data on foreign direct investment flow to Cambodia. Suon Sophal, Deputy Secretary General of the CDC’s Cambodian Investment Board, and Renato Perez Davalos, Senior Economist at IMF, discussed the […]
A minister said here on Sunday evening that Cambodia reported more than 4.5 million air travelers during the January-September period of 2024, up about 22 percent from 3.7 million over the same period in 2023. Mao Havannall, minister in charge of Cambodia’s State Secretariat of Civil Aviation, said 31 international and domestic airlines had operated […]
Vietnam Airlines officially launched non-stop flights between Phnom Penh and Hanoi on Sunday, shifting from its earlier route connecting Phnom Penh to Hanoi by having a stop in Vientiane, Lao PDR. Under the new route plan, Vietnam Airlines will operate this service between Phnom Penh and Hanoi four times a week on Mondays, Wednesdays, Fridays […]
The Securities and Exchange Regulator of Cambodia (SERC) said the 23 companies listed on the Cambodia Securities Exchange (CSX) have raised $389 million fund for their business activities. Out of these 23 companies, 11 companies have issued securities and 12 companies issued bonds, including green bonds and sustainable bonds, SERC’s Director-General Sou Socheat said at […]
Deputy Minister of Shipping Marina Hadjimanolis is visiting Egypt following an official invitation from the Egyptian Minister of Transport, with whom she will discuss further strengthening cooperation between the two countries, in the field of maritime transport. According to an official press release, during her visit, she will meet with the President and CEO of […]
Invest Cyprus and the Cyprus Stock Exchange (CSE) have signed a Memorandum of Understanding (MoU), aimed at strengthening their efforts and further develop joint initiatives to actively attract investments to Cyprus. “The MoU emphasises the exchange of expertise and information, reinforcing our shared commitment to enhancing the investment landscape,” Invest Cyprus said announcing the news. […]
Cyprus this year achieved its best nine-month tourism performance on record, according to Deputy Minister of Tourism Kostas Koumis. Speaking oy at the inauguration of the Cyprus Airways Flying Academy at Larnaca Airport, Koumis expressed optimism for continued success in 2024 and beyond. “This year has marked the best nine months in the history of […]
Scope Ratings has upgraded Cyprus’ credit rating to A- from BBB+, marking the country’s first A-level rating from a major credit agency. This upgrade reflects Cyprus’ improved economic stability, positive fiscal outlook, and reduced risks in the financial sector. The upgrade is seen as a significant milestone, highlighting the country’s strengthened financial footing and forecasting […]
The Ministry of Energy, Commerce, and Industry on Tuesday approved changes to the “conserve and upgrade for businesses and other entities” grant scheme. The scheme aims to provide support for energy efficiency improvements in existing buildings and facilities. According to the announcement, this measure, funded with a budget of €19 million, will run until December […]
Limassol led Cyprus’ high-value real estate market in September, driving €29.8 million in top property sales, according to real estate analytics firm Ask Wire. The district accounted for six of the ten most expensive transactions, including a €5 million field in Yermasoyia. Its analysis shows that Limassol secured most high-value deals, accumulating €18.5 million in […]
The Deputy Ministry of Tourism is set to launch a series of initiatives in 2025 to support, promote, and enhance Cyprus as a tourist destination, according to the budget it submitted to the House. The budget outlined the ministry’s strategies to boost the tourism sector through targeted advertising, strategic partnerships, and sustainable development projects. A […]
When it comes to legislating this sector, Cyprus has some catching up to do If I ask you to say the first thing that comes to mind when I say “short-term rentals”, what would that be? Short-term rentals, or STRs for short, have become increasingly popular worldwide, thanks to platforms like Airbnb and Booking.com. STRs pose […]