The Ministry of Finance has welcomed the European Commission’s In-Depth Review on the Cypriot economy, stating that its results show the government’s “sound economic policy and the efforts exerted to correct the economy’s macroeconomic imbalances.” “The government’s concern is the implementation of policies which would safeguard further correction of imbalances and the strengthening of the […]
The Council of Ministers is convening for an extraordinary session on 28 March to approve a new package of targeted measures to alleviate pressures from price hikes. According to CNA sources, the government will not renew the zero excise tax on fuels which expires at the end of March, but will renew the scaled state […]
From tragic to comic, leading ballet dancers will play them all. SARA DOUEDARI meets the Principal Dancer of the Vienna State Ballet, who has journeyed from an island more often celebrated for its historical sites than its ballet traditions Born in Nicosia, a place where ballet opportunities are limited, Ioanna Avraam’s rise to the top […]
Cyprus is an important destination for investments from Estonia and there are many areas of cooperation between Estonian and Cypriot companies, said President of Estonia Alar Karis. On the first day of a three-day official visit to Cyprus, he was addressing a 27 March business forum organised by the Cyprus Chamber of Commerce and Industry […]
A large cruise ship docked at Sihanoukville Autonomous Port on March 28, 2024, carrying 1,355 multi-national tourists and crew to visit Cambodia for one day. According to the report, after docking, the team, including the authorities and all competencies, welcomed the guests and arranged security for the guests at all places that tourists visited very […]
The Cambodian Ministry of Tourism recorded 988,574 international tourists in the first two months (January and February) of 2024, marking an increase of 18 per cent from the same period in 2023. According to a report released by the Ministry of Tourism on March 21, 2024, travellers from Thailand topped the number of international arrivals […]
The United Nations Industrial Development Organisation (UNIDO) has partnered with the Ministry of Industry, Science, Technology& Innovation (MISTI) to embark on the creation of an eco-industrial park (EIPs) in Cambodia. The initiative aims to foster sustainable industrial development by integrating environmental protection, resource efficiency, and economic prosperity. This cooperation was discussed in a meeting held […]
In the first two months of 2024, imports and exports of goods by manufacturing enterprises within the Sihanoukville Special Economic Zone (SSEZ), one of the nation’s largest and longest-running industrial hubs, reached a total value of $628 million, according to a recent report by the General Department of Customs and Excise (GDCE). The achievement marks […]
The Ministry of Environment has encouraged companies and development partners to contribute to carbon investment in Cambodia for clean soil, water, and air. Eang Sophalleth, Minister of Environment, made the remarks when receiving Hoang Anh Dung, CEO of Investment and Trading Consulting Company Limited (INTRACO Holding) of Vietnam, in Phnom Penh on Mar. 26. Sophalleth […]
The 2nd National Day of Science, Technology & Innovation (STI Day 2024) was held at the Koh Pich Convention and Exhibition Centre in Phnom Penh from March 24-26 2024, with Prime Minister Hun Manet attending and outlining the key objectives to achieve the STI Roadmap 2030 goals. The STI sector will play a crucial role […]
A lavish and contemporary villa in Cyprus that sits right on sparkling waters of the Mediterranean Sea has hit the market for €3.19 million (US$3.45 million). Villa 82, as it’s known, is set in a private gated community within the island’s Paphos district alongside one of the top beaches in the region, according to the […]
Phnom Penh, March 27, 2024 – The Sihanoukville Special Economic Zone (SSEZ), a major industrial hub in Cambodia, has reported a significant increase in its import-export value, reaching US$628 million in the first two months of 2024. This marks a substantial 38.3 percent year-on-year growth compared to the same period last year, according to a […]
26 March 2024, Phnom Penh – Singapore’s The Ascott Limited (Ascott), the wholly-owned lodging business unit of CapitaLand Investment, has entered into a management agreement with Overseas Cambodian Investment Corporation (OCIC), for the management of Somerset Diamond Bay Garden Phnom Penh in Koh Pich. The agreement was signed by Ms. Serena Lim, Chief Growth Officer […]
Phnom Penh, March 27, 2024 – A delegation of 13 leading Korean companies, spearheaded by Hacheong Yun, Director General of the Korea Trade-Investment Promotion Agency in Cambodia (KOTRA Phnom Penh), is exploring new trade and investment avenues in Cambodia’s burgeoning sectors. This search for opportunities was discussed during a strategic meeting with Sun Chanthol, Deputy […]
Canadian credit rating agency DBRS Morningstar has affirmed the Republic of Cyprus’ long-term ratings, maintaining it at BBB (high) with a stable economic outlook. Amid global uncertainties, DBRS cited risks such as the Ukraine conflict and trade disruptions in the Red Sea, which could impact Cyprus’ fiscal outlook. Downgrade possibilities loom if sovereign debt worsens […]
Cyprus’ main exports for 2023 included mineral fuels and oils, halloumi and pharmaceutical products, according to CySTAT. In an infographic published on 26 March, CySTAT shows that Cyprus exported €508.39 million of domestically produced goods to EU countries and another €1.84 billion to third countries. The main products that Cyprus exported to EU countries were pharmaceuticals at […]