Research Deputy Ministry official Georgios Komodromos on Tuesday said that digital transformation is crucial in improving the country’s competitiveness and economic growth. In a statement, Komodromos outlined the government’s vision for Cyprus to become a regional centre for technology and innovation, saying that Cyprus is currently in its strongest position to pursue this goal. “The […]
Cyprus experienced a 4.8 per cent increase in hourly labour costs during the second quarter of 2024 when compared to the same period from last year. According to a report from the Cyprus Statistical Service, which utilised preliminary data, the rise in labour costs was attributed to increases in both wages and non-wage costs. Specifically, […]
Cyprus’ competition watchdog has ruled that competition in the country’s banking market remains healthy, approving Eurobank’s acquisition of a 26.1 per cent stake in Hellenic Bank. With the transaction, Eurobank now controls 55.9 per cent of Hellenic Bank shares. The Commission for the Protection of Competition’s (CPC) decision, which was made public in the Official […]
Canopy Sands Development unveiled its USD 16 billion Bay of Lights township project at two distinguished industry events—the Australia-ASEAN Business Forum and the Hotel Investment Conference Asia Pacific Australia New Zealand (HICAP ANZ 2024), highlighting its pivotal role in fostering regional collaboration and elevating Cambodia’s profile as the next financial and tourism destination on the […]
The Ministry of Tourism has announced that five major events will take place in Siem Reap this month. First, from September 16-17, there will be the Gumball 3000, a world-famous event featuring luxury cars, celebrities, international content producers and YouTubers. The GUMBALL 3000 Rally will be held on the 16th of September in Siem Reap […]
While the construction of the new Paphos-Polis Chrysochous highway has faced delays, a parallel issue is causing concern among local residents and stakeholders. The project’s impact on land values and property prices in areas along the new highway’s route is becoming increasingly central to discussions. Landowners and developers in the construction and real estate sectors […]
In Cambodia, everybody is looking forward to Bon Om Touk. If your Khmer is a bit rusty, this means the mid-autumn New Moon Water Festival, celebrated in late October. This fervent, noisy, firework-banging festival has multiple, colourful meanings. For a start, it marks the end of the endless summer rain – which turns everyone’s laundry […]
The Kingdom’s pride and glory Angkor Wat has achieved a new pinnacle of glory, being named Asia’s numero uno pick as the most photogenic UNESCO site. Prime Minister Hun Manet made the announcement with a flourish on Sunday on his official Telegram channel. He also attached a screenshot of the list by leading UK travel […]
World famous YouTube influencer IShowSpeed – currently in Cambodia for the Gumball 3000 Rally – celebrated in front of a crowd of adoring Cambodian fans as he reached the milestone of 30 million YouTube subscribers. The star was heard to exclaim ‘”Oh my god! Five hundred subs! Three hundred subs! Oh my god! One hundred! […]
Cambodia has introduced a new online platform, Cambodia e-arrival, aimed at simplifying the arrival process for international travellers. This innovative system is expected to bolster tourism, attract investors and enhance security in the digital age, tourism insiders said. The Cambodia e-Arrival is a new system designed to make the process easier for arrival to the […]
The Council for the Development of Cambodia (CDC) Saturday announced that under the leadership of Prime Minister Hun Manet, the Royal Government of Cambodia (RGC) of the Seventh Legislature has attracted $7.5 billion of investment capital over one year period, marking a 161 percent rise compared to the same duration by the previous government. Chea […]
Cambodia’s exports of garments, footwear and travel goods (GFT) surged by 23.33 percent in the first eight months of this year, compared to the same period last year, earning the country $9.08 billion, according to the latest trade data of the General Department of Customs and Excise (GDCE). The GFT exports, the biggest export earner […]
The scale of the Cypriot economy has already exceeded the current demographic potential of the country, Minister of Labour and Social Insurance, Yiannis Panayiotou has said. He was addressing a conference in Nicosia on technical and vocational education and its connection with the labour market. “The size of the Cypriot economy has already exceeded the existing demographic […]
Total employment in the broad public sector reached 75,714 in the second quarter of 2024, marking an increase of 2,388 persons (3.3%) compared to the same period in 2023, CySTAT has announced. Employment in the General Government sector was 70,011, while Publicly Owned Enterprises and Companies employed 5,703 people. Within the General Government, which includes […]
The job vacancy rate for the second quarter of 2024 stood at 3.0%, consistent with the rate recorded in the first quarter of 2024 and slightly higher than the 2.9% rate recorded in Q2 2023. According to data released by CySTAT, the number of job vacancies in the second quarter of 2024 rose to 13,778, […]
Fitch Ratings on Monday upgraded the Shareholder Support Rating (SSR) of Hellenic Bank Public Company Limited (Hellenic Bank) to “bb” from “bb-“. According to the agency, this follows the recent upgrade of Eurobank S.A.’s Long-Term Issuer Default Rating (IDR) to “BB+” from “BB”. Eurobank, which holds a 55.9 per cent stake in Hellenic Bank, is […]