Tourist arrivals set a new all-time record in August, reaching 554,923, exceeding the corresponding arrivals of August 2019, the record year for Cypriot tourism, by 0.20%. According to Cystat, for the period of January – August 2024, tourist arrivals totaled 2,758,627 compared to 2,648,795 in the corresponding period of 2023, recording an increase of 4.1%. […]
Cambodia exported 209,733 tonnes of rubber and earned over $328.3 million in revenue during the January-August period this year, an increase of 15.5 percent from $284.1 million during the same period last year, according to a report by the General Directorate of Rubber released yesterday. Khun Kakada, Acting-Director General of the General Directorate of Rubber […]
Day three of the celebrity-infested Gumball 3000 Rally saw the parade of 102 luxury cars accelerating star-studded glamour in Siem Reap yesterday at the historic Angkor Wat, which is set to create a new Guinness World Record for the maximum number of supercars to assemble in front of a world heritage monument. Expressing gratitude to […]
Eurobank and the Indian Chamber of Commerce (ICC) this week signed a Memorandum of Understanding (MoU) at the Indian Embassy in Athens. The agreement, signed on September 16, aims to establish the India-Greece-Cyprus Business Council (IGC), marking a significant step towards strengthening trilateral business ties. The MoU was signed in the presence of the ambassador […]
The Cyprus Borrowers Association (Syprodat) and Central Bank of Cyprus (CBC) governor Christodoulos Patsalides on Tuesday discussed the need for sustainable loan restructurings, as well as the issue of lending rates. In a statement to the Cyprus News Agency (CNA), Syprodat president Costas Melas described the meeting as constructive. He said that both sides agreed […]
United Kingdom remains key source of tourism, followed by Israel, Poland Tourist arrivals to Cyprus reached 554,923 people in August 2024, an 8.5 per cent increase compared to 511,387 in August 2023, according to a report released on Tuesday from the Cyprus Statistical Service (Cystat). From January to August 2024, a total of 2,758,627 tourists […]
Eurobank’s recent acquisition of a majority stake in Hellenic Bank, Cyprus is set to enhance its credit profile and geographic diversification, according to a statement by credit rating agency Moody’s. Moody’s noted that Eurobank’s newly acquired 55.9 per cent stake in Hellenic Bank, the second-largest bank in Cyprus, adds to its existing presence in the […]
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! […]