PHNOM PENH, August 27, 2024 — The establishment of the Honorary Consulate of the Republic of Cyprus in Phnom Penh marks a significant step in strengthening diplomatic, cultural, and economic relations between Cyprus and Cambodia. This new consulate is poised to become a hub for bilateral exchanges, offering a gateway to enhanced cooperation and understanding […]
Sun Chanthol, Deputy Prime Minister and First Vice-Chairman of the Council for the Development of Cambodia (CDC) said that the CDC plans to launch an online investment application form to make it easier for investors to apply online. CDC will present this project to Prime Minister Hun Manet as well as the Council of Ministers […]
The Energy Ministry has expressed satisfaction over the response to its ‘’photovoltaics for all’’ scheme from consumers. A press release says that by July the Ministry received 6,000 applications which were budgeted for the first phase of the scheme in the framework of a wider project which aims to sponsor the use of RES in […]
Τhe year-over-year growth rate of the Cyprus Composite Leading Economic Index (CCLEI) remained positive in July, the Economics Research Centre (CypERC) of the University of Cyprus says in a press release. The Index, it is added, recorded a year-over-year increase of 0.8% in July 2024, following the year-over-year increases of 0.9% and 0.8% recorded in […]
The economy is advancing positively and shows resilience, Minister of Finance Makis Keravnos has said. Keravnos submitted the six-month fiscal report and briefed the cabinet on the course of the economy, on 23 August. In statements after the cabinet meeting, Keravnos said the aim of the report is to ascertain whether the economic fundamentals lie […]
The Cyprus regional finals of the Startup World Cup 2024 are set to take place on Thursday, August 29, at the BrainRocket premises in Limassol. The event will spotlight the region’s most promising startups, culminating in a chance for the winning team to compete at the Grand Finale in San Francisco. The Startup World Cup is a prestigious global event […]
Demand for modern office spaces in Cyprus, particularly in Limassol, remains strong in 2024, as companies pursue energy-efficient buildings, according to a report released on Monday from property consultants Danos. The company reported that office prices continue to rise, despite an increase in supply, following a significant low in early 2022 with rents now approximately 14 per cent […]
Country is on track to meet Maastricht debt threshold by 2026 Cyprus has seen its debt-to-GDP ratio drop to 72.3 per cent, marking a substantial decrease of nearly 10 percentage points over the past year. According to a report released on Friday from the Cyprus Statistical Service (Cystat), the total general government debt was recorded at €22.81 billion at […]
PHNOM PENH, July 10, 2024 — The latest data from the Ministry of Public Works and Transport reveals a significant increase in the registration of electric vehicles (EVs) in Cambodia, signaling a shift towards more sustainable transportation options. In the first half of 2024 alone, 2,968 electric vehicles were registered, encompassing 914 motorcycles, 440 tricycles, […]
Minister of Industry, Science, Technology, and Innovation Hem Vanndy presided over the official launch on Friday of RMA Cambodia’s latest electric vehicle (EV) models, the Chang An Deepal LO7 and SO7, a step forward in Cambodia’s EV journey and technological innovation. According to the Ministry of Industry, Science, Technology and Innovation (MISTI), in his opening […]
A Tokyo-based startup has opened in Cambodia a Japanese-style kindergarten amid a shortage of teachers in the country. Wonderfy Inc, known for its cognitive development apps for young children with over three million users in more than 150 countries, launched the school in Phnom Penh and plans to later expand operations nationwide. In a ceremony […]
A total of 391 investment projects with a combined capital of about $7.6 billion were endorsed by the Council for the Development of Cambodia (CDC) between September 2023 and July 2024. The figures were shared by Prime Minister Hun Manet in his special statement on the “One-Year Achievements of the Royal Government of the 7th […]
The Kingdom’s rice export target of 1 million tonne by 2025 appears viable. While the achievement will bolster the confidence of current production systems down the line, it will also become a potent factor in Cambodia attaining a high-middle-income country status by 2030 and a high-income one by 2050. The growing clout of Cambodian rice […]
Here are the top business stories in Cyprus from the week starting August 19: A total of 6.6 million passengers traveled through Cyprus’ airports between January and July this year, according to airport operator Hermes Airports. Looking ahead, the company said that it expects the figures for August to exceed 1.5 million passengers, similar to […]
Cyprus has seen its debt-to-GDP ratio drop to 72.3 per cent, marking a substantial decrease of nearly 10 percentage points over the past year. According to a report released on Friday from the Cyprus Statistical Service (Cystat), the total general government debt was recorded at €22.81 billion at the end of June, a reduction from […]
United Luck Consortium has purchased Outfit7, the maker of the wildly popular Talking Tom mobile app, for $1 billion. The buyer is not actually the previously rumored acquirer, Chinese chemical firm Zhejiang Jinke Entertainment Culture. Rather, Outfit7 Investments Ltd. (Outfit7) said in a press release that its shareholders have sold 100 percent of the company to a consortium […]