The Deputy Ministry of Tourism and the Cyprus Hospitality Association this week held the Cyprus Hospitality Awards, an event that sought to honour exceptional people and businesses from the tourism and hospitality sectors. The event, which was held in Limassol on Thursday evening, was attended by Deputy Minister of Tourism Kostas Koumis, who highlighted the ongoing efforts to […]
The Central Bank of Cyprus (CBC) announced this week that it expects a 2.2 per cent increase in the country’s Gross Domestic Product (GDP) for the year 2023, following a substantial 5.1 per cent expansion in 2022. Looking ahead to the years 2024-2026, the CBC projects GDP growth rates of 2.6 per cent, 3.1 per cent, […]
The Central Bank of Cyprus (CBC) said it expects GDP growth of 2.2% in 2023, compared to significant growth of 5.1% in 2022, while for the years 2024-26 it expects GDP growth of 2.6%, 3.1% and 3.2%, respectively. CBC Governor Constantinos Herodotou has stressed that “the implementation of reforms and the emphasis on sustainable growth […]
The Cambodia-Laos-Vietnam (CLV) Trade, Investment and Tourism Fair, taking place in Laos’ southern Attapeu province from Monday to Friday, got off to a fun start with a colourful concert that portrayed the artistic talents of the three countries. The fair aims to bolster cooperation in trade, investment and tourism in the Development Triangle Area, broaden […]
Wing Bank, WingCommerce, Amru Rice (Cambodia) Co., Ltd, and Cambodia Agricultural Cooperative have formed a strategic collaboration to enhance rice production and promote sustainable agriculture in Cambodia. A Memorandum of Understanding (MoU) on the collaboration was inked during the 4th Sustainable Agriculture Summit in Phnom Penh on Feb. 28. Under the MoU, agricultural cooperative members […]
Emirates airline will restart its daily service to Phnom Penh starting from May 1 via Singapore, boosting the airline’s Southeast Asian connectivity to and from Dubai, and linking two trade and leisure centres in the region. “The resumption of our Phnom Penh services demonstrates our commitment to strengthening our Southeast Asian network, as we continue […]
In-depth Discussion on the Cambodia Malaysia Business Forum 2024 with Malaysian Business Chamber in Cambodia President Oknha Tan Khee Meng Khmer Times: Welcome, Oknha Tan Khee Meng. The recent Cambodia Malaysia Business Forum 2024, held on February 27th in Kuala Lumpur, has garnered significant attention. Having the Cambodian Prime Minister, Samdech Thipadei Hun Manet, preside […]
The Royal Government of Cambodia (RGC) assured the American companies keen on investing in the Kingdom to work closely with the Council for the Development of Cambodia (CDC) through the Qualified Investment Project Registration (QIP Online), an online platform created to enable investors to submit investment proposals. The assurance was given by Sun Chanthol, Deputy […]
During the recent 12th Annual General Assembly of the Cambodian Water Supply Association (CWA), Cambodia’s clean water sector insiders convened in Phnom Penh to celebrate ongoing achievements in Cambodia’s clean water supply sector, along with future prospects for the industry. Presided over by Minister of Industry, Science, Technology & Innovation (MISTI), Hem Vanndy, and Australian […]
Dr Chea Serey, Governor of the National Bank of Cambodia (NBC) met with the US-ASEAN Business Council (US-ABC) on Thursday and exchanged views on the business ventures and investment potential of large US companies. The executives who attended the meeting included representatives from VISA, Mastercard, Ford and many other US companies. The meeting discussed business […]
Minister of Finance Makis Keravnos and Deputy Minister of Research, Innovation and Digital Policy Nicodemos Damianou, discussed ways of productive cooperation between the two institutions in order to promote the digital transition. In statements after the meeting, the Minister of Finance said that the digital transition is a “basic political direction” of the Government, which […]
Lending in Cyprus last year by the European Investment Bank (EIB) Group rose to €257 million, up 3% compared with 2022. The new financing went towards increasing economic competitiveness, mitigating climate change and improving everyday life for residents. The EIB committed €130 million to support a programme called THALIA that targets smart and green investments […]
Industrial production in Cyprus increased by 2.4% in 2023 compared to 2022, according to data released by Cystat. The Industrial Production Index reached 136.1 units (base year 2015=100) in December 2023, marking a 2.3% increase compared to the same month in 2022. Overall, during the year 2023, the index showed a 2.4% increase compared to […]
After lengthy tender procedures, the Electricity Authority (EAC) has awarded the tender for the installation of smart meters to the Cyprus Telecommunications Authority (Cyta), it emerged on Wednesday. The decision to award the tender for the supply and installation of 400,000 meters was made by the EAC’s new board of directors on Monday, as reported by Phileleftheros. The […]
Consulting and advisory firm Deloitte Cyprus on Thursday announced the release of the organisation’s Global Human Capital Trends report for 2024, which examines the most important issues for organisations, leaders and workers. This year’s report, based on surveys from over 14,000 business and human resources leaders across many industries and sectors in 95 countries, including Cyprus, “Thriving Beyond Boundaries: […]
Cyprus’ tourism revenue amounted to €74.3 million in December 2023, compared to €57.6m in the corresponding month of the previous year, marking an increase of 29 per cent, according to a report released on Thursday by the Cyprus Statistical Service (Cystat). According to the report, which is based on the results of the service’s Passenger Survey, […]