Fitch Ratings has upgraded the Long-Term Issuer Default Rating (IDR) of the Bank of Cyprus (BoC) to BBB- from BB+, assigning a positive outlook. This marks a significant milestone for the bank, reflecting its strengthened financial position and the broader stability of the Cypriot banking sector. “The upgrade mainly reflects BoC’s improved asset quality from a reduced stock of legacy problem assets […]
Alpha Bank Cyprus this week presented its future strategy during a corporate event held at at the Four Seasons Hotel in Limassol. According to an announcement released on Tuesday, the bank said that it is “shaping the country’s banking landscape, strengthening the national economy, and solidifying its position as a rising force in the sector“. It added that the […]
Kykkos monastery is expected to proceed with a major new development on land it owns in Engomi, according to reports released on Tuesday. Spanning 331,450 square metres, the plan includes a five-star hotel, residential units, commercial spaces, office buildings, medical facilities, and educational institutions. In addition, it involves green areas and a large section reserved for parking spaces. According to […]
The Royal Government of Cambodia (RGC) yesterday organised a meeting to gather input for the draft of the National Strategic Development Plan (NSDP), a five-year roadmap aimed at promoting socio-economic development, sustainable growth, public welfare and resilience against emerging challenges. Presiding over the meeting, Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance […]
The listed-Phnom Penh Autonomous Port (PPAP) reported an increase in its business operations in January this year, reflecting the improving economic conditions of the Cambodian economy. An unaudited revenue report for two months of 2025 filed to the Cambodia Securities Exchange on March 14 showed the port’s revenue increased by more than 28 percent to […]
Sun Chanthol, the Deputy Prime Minister and First Vice Chairman of the Council for the Development of Cambodia (CDC), encouraged the Chinese side to examine the possibility of expanding the flight destinations of Air Cambodia to promote People to People (P2P) connectivity, especially Business to Business (B2B) connectivity, to attract one million tourists from Henan […]
Keo Rattanak, the Minister of Mines and Energy, received a courtesy call from the Australian Ambassador to Cambodia Derek Yip today. Over the past 70 years, Cambodia and Australia have developed a partnership that has evolved from maintaining peace to promoting economic growth. This partnership has continued to provide even greater opportunities in the future. […]
The 4th tournament of the FIDE Women’s Grand Prix 2024–2025 series began with the opening ceremony on Friday, March 14, in Cyprus’ capital Nicosia. Organised under the auspices of the International Chess Federation (FIDE) and the Cyprus Chess Federation, the event is supported by its main sponsor, Freedom24. Ten of the world’s top female chess players will […]
The Holy Synod will convene in an extraordinary session on 24 March to consider approval for a substantial development project in Engomi on land owned by the Kykkos Monastery. The proposed development spans a total area of 331,450 square metres, with construction planned across 324,855 square metres of the site. Kykkos Bishop Nikiforos will present the proposal […]
The Central Bank of Cyprus has upwardly revised its forecast for Cyprus’ GDP growth rate for 2025 by 0.1% to 3.2% compared to its December 2024 projections. At the same time, it has maintained its forecast for GDP growth in the period 2026-2027 at 3.1% annually.
Many hotels across Cyprus’ tourist areas have undertaken partial or extensive upgrades in recent years, despite challenges facing the tourism sector. Hotel industry representatives highlight that Cyprus relies on its high-quality hotel facilities and services to maintain competitiveness in the region. Christos Angelides, general director of the Cyprus Hoteliers Association (Pasyxe), told Stockwatch that there is “cautious optimism” for 2025, noting that […]
Cypriot citizens are one step closer to the dream of hassle-free travel to the United States, as final approvals near for Cyprus’ inclusion into the US Visa Waiver Program (VWP). The Cypriot authorities have already done all the necessary groundwork to secure the final green light from the US. A team of experts from the […]
PHNOM PENH, Cambodia — A genetic study of Asian elephants in northern Cambodia published Thursday reveals a larger and more robust population than previously thought, raising hopes the endangered species could slowly recover. Researchers from the Fauna & Flora conservation group collected samples from elephant dung in Cambodia’s northern plains and extracted DNA. From the […]
Cambodia’s public finance system is progressing in the right direction, said Aun Pornmoniroth, Deputy Prime Minister, Minister of Economy and Finance (MEF), terming it as realistic, achievable, and aligned with international standards to ensure efficiency, effectiveness, transparency, and accountability in the Cambodian context. Speaking at the opening session of the ‘2024 Annual Review of the […]
The Digital Economy Forum 2025 focussed on Cambodia’s advancing digital landscape by fostering digital literacy and promoting the importance of digitalization. The forum was organized recently at Oakwood Premier Hotel in the capital by the Digital Economy and Business Committee with the support of the Capacity Building Research and Development Fund of the Ministry of […]
Malaysia’s trade performance in 2024 continued to deliver outstanding performance, recording another milestone with trade reaching new heights. Trade, exports and imports rebounded in 2024 with trade amounting to RM2.879 trillion, an increase of 9.2 percent year-on-year, surpassing the RM2 trillion mark for four consecutive years. Similarly, exports exceeded RM1 trillion for four consecutive years, […]