PHNOM PENH: Cambodia approved 64 new investment projects and 4 production expansion projects worth in total US$748 million in January this year, generating almost 46,000 jobs for the locals, said a report of the Council for the Development of Cambodia (CDC) released on Wednesday. The number of approved investment projects rose by 112 percent while […]
Chea Vuthy, Secretary General of the Cambodian Investment Board of the CDC, on February 11, 2025, led his colleagues to meet with Daniel Spitzer, President and CEO of Mountain Hazelnuts, and Andreas Groetschel, CEO of Kamya AgriTrade, to discuss investment opportunities in the agro-industrial sector, especially the cashew industry in Cambodia. On this occasion, the […]
Charles Vann, Director of Cambodia Airport Investment Co., Ltd. (CAIC), Monday urged tourism associations and tour operators to actively promote the upcoming Techo International Airport (TIA), set to officially open in July. He encouraged them to help boost dissemination, mobilise efforts, and attract international tourists to visit Cambodia. Leading around 200 members of the Cambodia […]
The Secretary General of the CCCI, Philokypros Roussounides, expects steadily rising growth rates for Cyprus in 2025, while the Director General of OEB, Michael Antoniou, says fluid conditions in the global economy make anticipating the course of the Cypriot economy risky at this stage, while also noting, however, that Cyprus has proven that it has […]
The share of renewable energy sources used in transport in the EU increased in 2023 compared to 2022, while remaining essentially unchanging in Cyprus, according to data released by Eurostat. In 2023, the share of renewable energy sources in transport reached 10.8% at EU level, a 1.2 percentage points increase from 2022 (9.6%). Meanwhile in […]
Limassol continued to lead Cyprus’ high-value real estate market in 2024, accounting for eight of the ten most expensive property transactions, with a total value of €176.8 million, according to real estate analytics firm Ask Wire. The highest-value transaction of the year was a €39.3 million apartment development in Polemidia, Limassol. The only other districts […]
4 million visitors, €3 billion revenue in 2024 Cypriot tourism has recovered from the challenges of the previous three years, including the pandemic and the loss of the Russian market, according to president Nikos Christodoulides. Speaking during the annual general assembly of the Association of Cyprus Tourist Enterprises (Stek), the president explained that the government’s priority will now shift to […]
Eurobank announced on Tuesday that it has completed the acquisition of an additional 37.5 per cent stake in Hellenic Bank, bringing its total shareholding to 93.47 per cent. The bank has also launched a mandatory public offer to acquire the remaining shares of Hellenic Bank, aiming for full ownership. The transaction, finalised on February 10, 2025, after obtaining the […]
This afternoon, Cambodian Prime Minister Hun Manet encouraged Filipino businessmen to further explore investment opportunities in Cambodia. Speaking at the Philippines-Cambodia Business Forum in Manila, as part of his two-day official visit on February 10-11, Hun Manet stated that while Cambodia is small, it possesses a big heart and is eager to welcome all foreign […]
The Prime Minister of Cambodia, Hun Manet, has extended an invitation to global investors to explore investment opportunities within Cambodia while reaffirming the Royal Government’s dedication to facilitating a smooth and successful investment experience. He addressed attendees on Monday at the Cambodia-Philippines Business Forum held in Manila, Philippines. “I would like to extend an invitation […]
Trade and tourism will dominate the agenda during Prime Minister Hun Manet’s two-day visit to the Philippines beginning today, The Manila Times reported. Mr Hun Manet will also be discussing matters related to defence along with regional and multilateral cooperation with Philippines President Ferdinand Marcos Jr, the newspaper said, quoting an official Malacanang statement. Malacanang […]
Cambodia’s economy is projected to grow by 6.3 percent in 2025, which will raise the country’s gross domestic product (GDP) to $51.39 billion, a senior official stated on Monday. The Southeast Asian nation’s economy is primarily driven by exports of garments, footwear, and travel goods, along with tourism, construction and real estate, and agriculture. Ung […]
The Ministry of Energy has today published guidelines for its €35 million energy storage scheme, previously approved by the Council of Ministers, aimed at promoting energy storage solutions across the country. The scheme, funded through the ‘THALIA 2021-2027’ Cohesion Policy Programme and the Just Transition Fund, targets approximately 150MW of storage capacity with total storage capabilities of […]
Passenger traffic at Larnaca and Paphos airports recorded a 6.81% increase in January 2025 compared to the same month in 2024, according to a press release by the Ministry of Transport, Communications and Works on Monday, thanks to a 12.7% increase recorded in Larnaca and despite a 7.24% drop at Paphos Airport.
S&P Global Ratings has upgraded the long-term issuer credit rating of Bank of Cyprus Public Co. Ltd. (BoC) to ‘BBB-’ from ‘BB+’, reflecting improvements in the Cypriot banking sector’s funding stability. “Cypriot banks have further reduced their dependence on less stable non-resident depositors and improved their loans-to-core-deposits ratio, increasing funding stability in Cyprus’ banking system,” the credit agency stated. The outlook for […]
The Cypriot village of Pissouri will be honoured as one of the world’s best tourism villages at a celebration event on 15 February, following its recognition by the World Tourism Organization (UNWTO). The accolade, shared with fellow Cypriot village Kalopanayiotis, acknowledges Pissouri’s dedication to sustainable tourism development and promotion of local products, traditions, and natural […]