Cyprus and its president Nikos Christodoulides have officially confirmed the news that towards 2026, the country will become a member of the Schengen area, which will have massive ramifications for its people and those across Europe. Speaking at a meeting of the European People’s Party in Berlin on Saturday, January 18, the president stated his […]
Cyprus issued a Navtex on Sunday in relation to the start of drilling at the ‘Electra’ field, in bloc 5 of the Cypriot exclusive economic zone (EEZ). According to the Joint Rescue Coordination Centre (JRCC), the Navtex came into force from January 19, until June 19, 2025 with the drillship VALARIS DS-9 conducting the operations. […]
Cambodia’s Siem Reap province, home to the famous Angkor temples and Phnom Penh capital, has been named Asia’s Best of the Best Destinations 2025 by Tripadvisor, a world-known online platform for travellers. Among the 25 Best Destinations in Asia for 2025, Siem Reap’s cultural province was ranked 5th, while Phnom Penh, the heart of Cambodia, […]
The exports of the enterprises located inside the Royal Group Phnom Penh Special Economic Zone (RGPPSEZ) saw a significant increase in 2024 with a record high value of $1,880 million, up 16 percent from $1,621 million in 2023. “We take immense pride in contributing approximately 7 percent to Cambodia’s total export value of $26,664 million, […]
Senate President Hun Sen Friday said that Cambodia and Malaysia must strive to push their trade volume to $2 billion amid enhancing economic exchanges, trade, investment, and tourism between the two countries. The suggestion was made during a meeting between Mr Hun Sen and Tan Sri Dato Dr Johari bin Abdul, Speaker of Malaysia’s House […]
Cham Nimul, Minister of Commerce (MoC), Saturday encouraged the private sector to explore investment opportunities in the Kingdom’s electric vehicle (EV) sector to boost the national economy as well as address environmental concerns. The Minister noted that the development of the EV sector has brought a range of benefits, including job creation for citizens, adding […]
The National Committee for Coastal Management and Development of Cambodia, the Ministry of Land Management, Urban Planning and Construction (MLUPC), and the National Coastal Area Working Group of Preah Sihanouk, Kampot, and Kep Provinces continue efforts to enhance the 2,700-meter beach in Kep Province and promote the quality of Prek Treng Beach in Preah Sihanouk […]
Transport minister Alexis Vafeades said there is significant development potential for the former Larnaca airport site, stating the government wants to avoid letting the property remain unused for longer. The minister made the comments during a visit to the old airport facility on Friday with Larnaca Chamber of Commerce and Industry (LCCI) president Dr Nakis […]
Here are the top business stories in Cyprus from the week starting January 13: The need for enhanced collaboration between public authorities and private enterprises was emphasised during the recently held ‘Beyond Sea & Sun’ conference. This event, organised by Hermes Airports with the support of Hellenic Bank, focused on strategies to transform Cyprus into a year-round […]
Key insiders said the good progress of Cambodia’s garment, footwear, and travel (GTF) exports is a significant positive sign for the Cambodian economy, social stability, and decent work standards environment. The latest trade data from the General Department of Customs and Excise of Cambodia (GDCE) showed that GFT exports earned $13.74 billion in 2024, up […]
The government is aiming for investment at and the possible future development of the old Larnaca airport, Transport Minister Alexis Vafeades said on Saturday. Speaking during a visit to the old airport alongside Larnaca chamber of commerce and industry (Evel) chairman Nakis Antoniou, he said the visit’s purpose was “to see what prospects there are, […]
Cyprus is “in the final stage” of preparation to join Europe’s Schengen zone, President Nikos Christodoulides said on Saturday. Speaking at a meeting of the European People’s Party in Berlin, he said his government now has as its “main goal” integration into the Schengen zone, and that it has “done a lot of work to […]
Following a successful year in 2024 that saw foreign tourist arrivals exceed expectations, the Ministry of Tourism has set an ambitious target of attracting up to more than 7 million international tourists in 2025. “The ministry has set a strategic plan in targeting to attract up to 7.2 million or 7.5 million foreign tourists in […]
The World Bank’s latest Global Economic Prospects report has forecast Cambodia’s GDP growth at 5.5 percent for this year and next year — up from an estimated 5.3 percent last year. Released in Washington on Thursday, the annual report ranks Cambodia among the fastest-growing emerging markets and developing economies in East Asia—ahead of China, Indonesia, […]
The messages for tourism in 2025 are positive, with a better flow of bookings compared to last year, according to the President of the Cyprus Hotel Association, Thanos Michaelides. Speaking to the Cyprus News Agency (CNA), Michaelides said that observing the flow of bookings for 2025, it seems that there is interest in making reservations earlier, […]
Tourist arrivals in Cyprus in 2024 exceeded four million for the first time, recording a historic value with 4,040,200 arrivals, compared to 3,845,652 in 2023, marking a significant annual increase of 5.1%. The previous record for arrivals was recorded in 2019 and was 3,976,777. In addition, according to CySTAT, tourist arrivals in December 2024 set […]