The Techo International Airport in Phnom Penh, the capital of the Kingdom of Cambodia, stands out among the 11 architectural projects set to shape the world in 2025, according to the Cable News Network (CNN). Cambodia is replacing its capital, Phnom Penh’s international airport, with one capable of handling six times as many visitors. The […]

Cambodia reported a 48 percent increase in the number of Chinese tourists to the UNESCO-listed Angkor Archaeological Park in 2024; an official report showed on Saturday. Located in northwest Siem Reap province, the ancient site welcomed 82,675 Chinese visitors last year, up 48 percent from 55,689 the year before, according to the state-owned Angkor Enterprise’s […]

The Cabinet has decided to increase the basic part of the Social Insurance Fund’s pensions by 5.94%. In statements after the end of the 3 December meeting, the Minister of Labour, Yiannis Panayiotou, stated that “following a Cabinet in accordance with the provisions of the Legislation, the pensions of the Social Insurance Fund will increase […]

Industrial turnover in Cyprus increased by 1 per cent in October 2024 compared to the same month in 2023, according to the Cyprus Statistical Service (Cystat). In its latest industrial turnover report, released on Friday, Cystat also reported that there was a 2.1 per cent rise recorded during the first ten months of 2024. Moreover, […]

The government approved a 5.94% increase in basic pensions, President Christodoulides announced Friday. The cabinet met today to discuss several key measures, including a nearly 6 per cent increase in basic pensions, the establishment of an artists’ registry, mandatory mediation for disputes up to €10,000, strengthening the government’s advisory council, and modifications to the Rent-versus-Installment and Amalthea schemes. […]

The mixed community of Pyla iσ experiencing unprecedented growth due to surging property demand despite its unique administrative status. Community Council President Simos Mytides told Phileleftheros that “Pyla currently has one of the highest development rates across Cyprus”. He revealed that more than 1,000 residential units are under construction, with permits pending for an equal […]

The Cyprus Chamber of Commerce & Industry (Keve) on Thursday released a statement congratulating Thomas Kazakos, the director general of the Cyprus Shipping Chamber (CSC), on his appointment as secretary-general of the International Chamber of Shipping (ICS). The appointment was originally announced on December 18, 2024, with Kazakos’ term coming into effect on April 1, 2025. “Kazakos’ appointment to this prestigious position […]

Cyprus’s business landscape underwent significant transformation in 2024, marked by major acquisitions across banking, insurance, healthcare, retail, and energy sectors, totalling over €1.5 billion in deals. In the banking sector, Eurobank completed its largest acquisition in Cyprus, securing a 93.47% stake in Hellenic Bank for over €1 billion. The Greek group paid a premium price of […]

Consulting and advisory firm PwC Cyprus on Thursday announced that it has published its new tax guide for 2025. “The guide serves as an important source of information on all tax-related matters in Cyprus and is available as of January 1, 2025, on the organisation’s website only in English,” the company said. The announcement also noted that this marks the 33rd […]

In 2024, the Cypriot economy demonstrated notable resilience and positive developments, achieving an estimated growth rate of 3.7%. This performance was bolstered by increased domestic demand and a stable labour market, with significant contributions from sectors such as tourism, construction, and wholesale and retail trade. The unemployment rate hovered around 5%, indicating near-full employment conditions. […]

The Cypriot economy demonstrated remarkable resilience in 2024, achieving a growth rate of 3.7 per cent despite persistent geopolitical and internal challenges. Tourism, construction, and the wholesale and retail trade sectors have made significant contributions to economic activity, benefiting from increased investment activity. Meanwhile, unemployment, which hovered at around 5 per cent, indicated conditions of […]

Tourism revenue reached €407.9 million in October Tourism revenue in Cyprus reached €407.9 million in October 2024, marking a 17.7 per cent increase compared to the €346.5 million recorded in October 2023, according to the Cyprus Statistical Service. For the January-October 2024 period, tourism revenue totalled €2.983 billion, a 6.5 per cent rise from the €2.803 billion in the same period of 2023. This growth was supported by increased […]

The Association of Cyprus Banks on Monday announced that interbank and cross-border transactions will soon be completed in just 10 seconds, with the service being available round-the-clock. The new service will come into effect on January 9, 2025 and cover all banks in Cyprus and the single euro payments area (SEPA). “Customers will be able […]

Paphos on Saturday night hosted a Christmas classic car parade, with cars making their way from the town hall square around the local streets. The municipality said the parade “filled the town’s neighbourhoods with warmth and Christmas magic”, and that it “combined the tradition of classic cars with the spirit of the holidays, offering residents […]

A total of 1.6 million cubic metres of water flowed into Cyprus’ reservoirs in the last four days, water development department representative Yianna Economidou said on Friday. Speaking to the Cyprus News Agency, she said the Kouris reservoir in Limassol saw the largest inflow, with a total of 377,000 cubic metres of water running into […]