Hellenic Bank on Monday announced a reduction in its reference rate for loans linked to the European Central Bank’s (ECB) base rate. Effective from December 18, 2024, the rate will decrease by 0.25 percentage points, moving from 3.40 per cent to 3.15 per cent. “This reduction will also affect loans tied to Euribor interbank rates, […]
The Commissioner of State Aid Control Stella Michaelidou on Monday approved a €3 million grant scheme to boost rural tourism. Specifically, the scheme seeks to provide support for the renovation or enhancement of hotels and tourist accommodations in rural, mountainous, and remote areas. The scheme, originally announced on December 6, will be implemented by the Deputy Ministry of Tourism. Titled […]
Capital Intelligence Ratings has upgraded Hellenic Bank’s foreign currency long-term rating to “BBB-” from “BB”, citing significant improvements in financial stability and capitalisation. This took place on the same day when S&P Global Ratings upgraded Cyprus’ long-term credit rating to “A-” from “BBB+” with a stable outlook. Regarding Hellenic Bank, the agency also upgraded its […]
CyRIC and bialoom, two Cypriot organisations, are contributing to the PhotonMed project, a major initiative in healthcare innovation, according to an official announcement. PhotonMed is a €32 million international project aimed at revolutionising medical diagnostics and therapeutic tools using photonics technology. This initiative, coordinated by Finland’s VTT, brings together 39 partners across nine countries and […]
The Cyprus Chamber of Commerce and Industry (Keve) on Monday announced the appointment of Philokypros Rousounides as its new secretary general. The chamber said that Rousounides will assume his duties on January 1, succeeding the current secretary general, Marios Tsiakkis, who is retiring. The announcement also mentioned that Rousounides holds an MBA in international business and “brings extensive experience in […]
In the first 11 months of 2024, Cambodia received approximately 6 million international tourists, an increase of 22 percent compared to the same period in 2023. This is according to a report by the Ministry of Tourism. Mr. Huot Hak, Minister of Tourism, said at the 11th Sea Festival in Kampot province on December 13, […]
Cyprus’ Ministry of Transport, Communications, and Works has announced the launch of the first urban express bus route, aimed at improving commuter efficiency and easing traffic congestion in the capital, Nicosia. Starting Tuesday, December 17, 2024, and in collaboration with the operating company Cyprus Public Transport, the new Route X13 will be operational. The route […]
The history of the island has been shaped by the occupiers who have passed through. A new exhibition looks at how Venetian culture changed what Cypriots wore The rich legacy of Venetian textiles and their enduring influence on Cypriot society and what it has historically worn is at the centre of an ongoing Nicosia exhibition […]
United States Ranked: The World’s 20 Largest Economies, by GDP (PPP) Published 4 days ago on December 10, 2024 By Pallavi Rao Graphics/Design: See this visualization first on the Voronoi app. Use This Visualization Ranked: The World’s 20 Largest Economies, by GDP (PPP) This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts […]
His Excellency Dr.(Kette Sedtha Bandet) Cheam Yeap, First Vice President of the National Assembly, said that the establishment of the Cyprus Honorary Consulate in Phnom Penh will help strengthen friendship and bilateral cooperation. His Excellency Dr.(Kette Sedtha Bandet) Cheam Yeap, First Vice President of the National Assembly, considered the establishment of the Honorary Consulate of the […]
Hem Vanndy, Minister of Industry, Science, Technology & Innovation, met here on Dec. 11 with a delegation from the Chinese Investment in Cambodia Association and 86Links Co., Ltd. The Ministry of Industry, Science, Technology & Innovation (MISTI) pointed out that the meeting focused on enhancing Cambodia’s industrial and technological development through innovative platforms and fostering […]
Cambodia’s economic growth is projected to reach 5.3 percent in 2024, up from five percent in 2023, according to the World Bank’s ‘Cambodia Economic Update: From Recovery to Resilience – Harnessing Tourism and Trade as Drivers of Growth,’ released yesterday. During a discussion on the latest update, Tania Meyer, Country Manager of the World Bank […]
An official report on Thursday said Cambodia made $568 million in revenue from exports of natural rubber latex in the first 11 months of 2024, up 26.7 percent over the same period last year. The kingdom exported 342,010 tonnes of the commodity during the January-November period this year, up 2.34 percent from 334,177 tonnes over […]
President Nikos Christodoulides has announced the establishment of the Business Activity Service Centre, a centralised hub designed to assist both Cypriot and foreign entrepreneurs. “The philosophy behind our decision is to create a central point of contact for Cypriot and foreign investors who wish to operate or expand their activity in our country, so that […]
The Cypriot economy showed robust growth across key sectors during January-October 2024, according to a report released on Thursday by the Cyprus Statistical Service (Cystat). The report showed that manufacturing output rose by 3.3 per cent during the January-September 2024 period compared to the same period in 2023. Similarly, approved building permits reached 1,627,500 square metres in […]
New business activity support centre announced President Nikos Christodoulides on Thursday reiterated the government’s commitment to bolstering Cyprus’ construction and real estate sectors. Christodoulides’ comments were delivered during his speech at the annual general assembly of the Cyprus Property Developers Association. The event was held at the headquarters of the Employers and Industrialists Federation (Oev) in Nicosia. “The construction […]