Cyprus’s property market is showing signs of stabilisation, with apartments remaining the only sector recording consistent growth, according to the latest RICS Cyprus Property Price Index with KPMG in Cyprus for the third quarter of 2024. Apartment prices rose by 0.8 percent quarter-on-quarter, whilst other property categories remained largely stable. Retail spaces and warehouses continued to experience low demand. […]
Cyprus’ government has announced a comprehensive package of measures aimed at reversing the country’s declining birth rate and addressing its ageing population, according to the Minister of Labour, Yiannis Panayiotou. In a press conference on 6 November he presented the measures, which focus on balancing family and professional life, increasing birth rates, and improving the […]
Passenger traffic at Cyprus’ Larnaca and Paphos airports rose by 7.14 per cent in October 2024 compared to the same month in 2023, according to the Transport Ministry. This increase supports projections that 2024 will be a record-breaking year for Cypriot airports, with passenger numbers expected to exceed 12 million. Despite heightened geopolitical tensions, passenger […]
Hellenic Bank on Wednesday reported a profit after tax of €284 million for the first nine months of 2024, marking a 28 per cent increase from the same period last year. “During the first nine months of 2024, Hellenic Bank’s performance was strong, despite global challenges,” said CEO Michalis Louis. “By maintaining a strong capital […]
Cyprus is participating in the World Travel Market (WTM) conference in London this week, joined by nearly 55 co-exhibitors at the ExCel exhibition centre. According to an announcement by the Deputy Tourism Ministry, the delegation aims to showcase the country’s diverse tourism offerings through regional associations, hotel groups, and travel agencies. The event is set […]
National investment promotion agency Invest Cyprus and TechIsland, Cyprus’ largest tech association, on Wednesday announced the signing of a memorandum of understanding (MoU). According to the announcement, the agreement aims to position Cyprus as a regional technology hub, fostering a sustainable tech community to drive economic growth and job creation. Founded in 2021, TechIsland represents […]
Nestled along the pristine Pagoda Beach on Koh Rong Island, The Secret Garden Koh Rong has quickly emerged as a top destination for travellers seeking a tranquil, luxurious escape. Opening its doors in December 2019, the resort marks a new beginning after eight successful years at Otres Beach. The Secret Garden offers a refined and […]
Cambodia wants to attract more Chinese investors to its Preah Sihanouk Province for high-quality development as it transforms the coastal region into a multipurpose special economic zone by 2038. “We want to attract investors from China and other (countries) to Preah Sihanouk … and make the province like Shenzhen that can drive industrialisation and innovation,” […]
In October alone, the Council for the Development of Cambodia (CDC) endorsed 31 investment projects with a total investment capital of $226 million, generating 16,000 job opportunities for the local people. The CDC pointed out in a press release made public this evening that ten of the investment projects are located in special economic zones […]
Cambodia exported approximately 8.5 million tonnes of agricultural products in the first nine months of 2024, marking a 53 percent increase compared to the same period in 2023, said a senior official from the Ministry of Agriculture, Forestry and Fisheries (MAFF). Khim Finan, Undersecretary of State and a spokesman for MAFF, posted on social media […]
Salaries have increased in total by 12-46% over the last five years in the 20 sectors with the greatest employment, according to the Labor Ministry’s Ergani database. Employees working on a full-time contract receive 1,433 euros per month gross on average. In September 2,830,818 workers were employed with salary labor contracts (full- and part-time), with […]
The two shipping companies have formed a single entity called InterMaritime Shipmanagement Intership Navigation and Interorient Shipmanagement on Tuesday announced that they have merged to form InterMaritime Shipmanagement. The new entity, which will include Intership’s sister company Donnelly Tanker Management, will manage 170 vessels, offering comprehensive ship management services globally. Combining over 80 years of […]
The Bank of Cyprus claimed two prestigious Gold Awards at Bousias’ Cyprus HR Awards for 2023, according to an announcement released on Tuesday. The bank was awarded ‘Best Change Management Strategy & Initiative’, as well as ‘Best Partnership with Educational Institutions, showcasing its innovative approach to internal engagement and staff development. The bank’s first Gold […]
The Central Bank of Cyprus (CBC) has unveiled a new strategic framework for 2025-2026, built upon three pillars comprising specific actions aimed at institutional evolution, operational efficiency and modernisation. Central Bank Governor Christodoulos Patsalides, speaking at the “Credit Risk Management Conference – ESG Impact on Credit Risk: Navigating Through Challenges”, emphasised that rapidly changing economic, social, technological and […]
The Council for the Development of Cambodia (CDC) has promoted Cambodia’s investment potential and opportunities among Japanese businesspeople and investors through the “plus-one strategy” mechanism, at the Cambodia Investment Seminar as Thailand +1, held in Bangkok, Thailand late last week. Sun Chanthol, Deputy Prime Minister and the CDC’s First Vice President, raised Cambodia’s favourable investment […]
The National Observatory of Cyprus has been named a finalist at the 2024 World Architecture Festival in Singapore, competing against projects by leading firms including Zaha Hadid Architects and Foster + Partners. Designed by Cypriot practice Kyriakos Tsolakis Architects, the observatory in Agridia village will be presented in the ‘Completed Projects’ category by partner Elena K. Tsolakis […]