The annual growth rate of the Cyprus Composite Leading Economic Index (CCLEI) is marginally positive in May 2024, halting the negative growth observed in the Index in the previous months. The Cyprus Composite Leading Economic Index (CCLEI), constructed and estimated by the University of Cyprus’ Economic Research Centre (CyERC), recorded an annual increase of 0.1% […]
FDI in Cambodia reached 197.8 trillion riels ($48.4 billion) between 2018 and 2023, the National Bank of Cambodia said. The primary source of FDI was China (including Taiwan, Hong Kong and Macao), accounting for 45.6 per cent of total inflows to the country during the period. Manufacturing and the financial sector attracted the highest FDI […]
BBF, Limassol’s top luxury residential developer, successfully sold out four Class A office buildings within the last year. Spanning a total area of approximately 20,000 sq. m., the full sale of bbf: latitude, bbf: liberty, bbf: benchmark, and bbf: summit solidifies BBF’s position as a leading name in Cyprus’s commercial real estate market as well. Due to the high […]
International credit rating agency Standard & Poor’s (S&P) this week upgraded the long-term credit rating of the Bank of Cyprus to BB+ with a positive outlook. This upgrade follows S&P’s recent upgrade of Cyprus’ sovereign credit rating last Friday, which also received a positive outlook. In addition, the agency explained that the upgrade reflects the […]
The Research and Innovation Foundation (RIF) this week announced the launch of a new programme titled “Enterprises Capacity Building in New Product Development.” According to the announcement, this initiative aims to bolster businesses with 30 or more employees, enabling them to recruit qualified personnel and innovate with new products or services. To streamline the process, […]
The Ministry of Energy, Commerce and Industry, in collaboration with the Cyprus Trade Centre London, took part in the London Tech Week exhibition by hosting an informative booth. Held June 10 to 12, 2024 at the Olympia Exhibition Centre in London, the event is widely regarded as the UK’s premier annual technology and innovation exhibition. […]
Deputy Minister of Research, Innovation and Digital Policy Nicodemos Damianou on Thursday set a forward-looking tone at the 3rd CITEA Digital Cyprus Conference, focusing on the potential and strategic importance of both Artificial Intelligence (AI) and data in shaping Cyprus’ digital future. In a virtual address from Athens, Damianou reflected on his participation in a […]
The Cabinet has approved a proposal by Finance Minister Makis Keravnos for the extension of measures to compensate the living costs of Cypriot households. They fall in the framework of targeted measures, taking into account the fiscal conditions and challenges as well as the summer climate conditions on the island, Government Spokesperson Konstantinos Letymbiotis said, following the Cabinet’s […]
The tourism industry is set for a significant boost during the upcoming Festival of the Flood (Kataklysmos) long weekend, with locals and foreign visitors alike expected to take advantage of the favourable weather and extended break. Hotel occupancy rates are projected to surpass 80% nationwide, exceeding 90% in some popular destinations, according to Philokypros Roussounides, […]
AirAsia will fly directly from Kuala Lumpur, Malaysia to Sihanoukville International Airport in July to seize the flow of tourists to Cambodia’s coastal province. According to a statement issued by AirAsia Cambodia on Thursday, the flights will be operated directly from Kuala Lumpur to Sihanoukville from July 3, with three flights per week: Wednesday, Friday […]
Minebea Cambodia, a subsidiary of MinebeaMitsumi, a Japanese precision components manufacturer, will expand its production chain in Cambodia by building its second factory in Pursat province, some 180 km north of Phnom Penh. “Minebea Cambodia will start constructing its second factory in Pursat in September this year,” said Keo Rattanak, the Minister of Mines and […]
President of Cambodia Chamber of Commerce, Kith Meng, called on Singaporean investors to invest in some other untapped potential areas to further build a strong economic tie between the two ASEAN nations. Addressing the Cambodia-Singapore Business Forum in Singapore on Wednesday, Meng, who is also the Chair of ASEAN-BAC Cambodia, said the forum serves to […]
In the near future, the Japanese giant company Minebea Mitsumi will open the construction site of its second factory in Pursat province’s Krakor district, which will create many new jobs for young people in Cambodia. This second factory invests in the power sector. On the official telegram of the Ministry of Mines and Energy on […]
The proposed maritime route linking the Cambodian islands off Sihanoukville with the nearby islands of Thailand and Vietnam may get ready for tests by November and can increase trade, tourism and investment opportunities in the destinations. The proposal has been lined up under the Cambodia, Vietnam, Thailand Economic Corridor (CVTEC) initiative, said Long Dimanche, the […]
The Central Bank of Cyprus has revised its 2024 forecast for GDP growth to 3%, from 2.8% that was expected last March, mainly due to the upward revision of domestic demand, while it maintained its forecast for growth in the years 2025 and 2026, at 3.1% and 3.2%, respectively. According to the CBC’s macroeconomic forecasts (June […]
The EU Cohesion Policy, which finances development projects and reforms in the Member States, invests significantly in the green and digital transition and should respond to its role in ensuring economic, social and territorial cohesion, Finance Minister Makis Keravnos has said. He was speaking during the General Affairs Council of the EU which was dedicated […]