The average gross monthly earnings for employees in Cyprus reached €2,363 in 2023, a 7.3% increase from €2,202 in 2022, marking a continued rise in income levels after a 7.1% uptick the previous year. According to CySTAT, the median gross monthly earnings stood at €1,792. Significant differences are recorded based on gender, nationality, and industry, […]
Hellenic Bank and the union representing its employees, Etyk, have finalised a new collective agreement, based on the preliminary accord reached in April 2023 with the mediation of the Labour Minister. This agreement, which marks the renewal of the contract initially due in 2018, will retroactively cover the period from January 1, 2019, to December […]
Greek retail chain Jumbo Group reported robust sales growth for the first ten months of 2024 at its recent shareholder briefing. This was driven by strong demand in key markets and strategic expansion across Cyprus, Greece, Bulgaria, and Romania. In Cyprus, Jumbo shop sales experienced steady growth, with October 2024 figures rising by approximately 2 […]
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 […]
Cambodian Independence Day is celebrated annually on November 9th, marking the country’s declaration of independence from French colonisation in 1953. As a Cambodian, “Independence Day” resonates deeply with me. Growing up, I was always captivated by the vibrancy of the celebrations in my hometown. The streets were decorated with flags, music filled the air, and […]
The Ministry of Commerce (MoC), in collaboration with stakeholders in the cashew sector, held a technical meeting on “Creating the Cambodian Cashew Collective Mark” to promote Cambodian cashew products to the global market. The meeting was led by Reach Ra, Secretary of State of the Ministry of Commerce and Permanent Deputy Chairman of the Inter-Ministerial […]
A total of 30 new investment projects and one production expansion project, with a total investment of $226 million were approved by the government in October this year. Of them, nearly 54 percent of the investment capital came from Chinese investors, according to the Council for the Development of Cambodia (CDC) on Tuesday. Local investors […]
Larnaca and Paphos airports recorded a 7.14% increase in passenger traffic in October 2024 compared to the same month last year, the Ministry of Transport reported on Wednesday. “Despite escalating geopolitical tensions, we continue to see record passenger movement for the January-October period, with a 5.3% increase compared to the same period in 2023”, the […]
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,” […]