The Bank of Cyprus on Friday outlined a range of initiatives designed to ease the financial strain on customers in the face of market interest rate volatility. In its announcement, the bank detailed key measures such as interest rate reductions and a customer rewards programme, aimed at reducing loan servicing costs to borrowers. “We have […]
By Frederic Pralus The importance of Foreign Direct Investment (FDI) for national economies is undeniable. For countries like Cyprus, with an outward-oriented economic approach, the ability to attract businesses and capital is a critical driver of economic growth and employment opportunities. Cyprus, for several reasons, has caught the attention of companies choosing either to expand […]
Cambodian Prime Minister Hun Manet outlined that Cambodia’s era of full peace is nearly 26 years old, marking the longest period of peace the country has experienced in almost 500 years. The premier spoke on Saturday (Dec. 7) during the opening of the 20th General Assembly of Regional Islamic Da’wah Council of Southeast Asia and […]
In November, the Council for the Development of Cambodia (CDC) endorsed 40 new investment projects and 3 production expansion projects with a total investment capital of $940 million, generating some 39,000 job opportunities for the locals. The CDC pointed out in a press release this afternoon that 11 of the approved investment projects are located […]
Cambodia’s construction sector attracted nearly $80 billion of investment capital over 24 years from 2000 to 2024, according to the annual report from the Ministry of Land Management, Urban Planning and Construction (MLMUPC), released in late November. MLMUPC’s report said, that from 2000 to 2024, the ministry has issued construction permits for 67,696 projects with […]
President Nikos Christodoulides is expected to announce new projects during a visit on Saturday, in Tylliria and Polis Chrysochous, on the northwestern coast of Cyprus, while continuing the dialogue with civil society, Government Spokesperson Konstantinos Letymbiotis has announced. In a written statement, Letymbiotis says that the Saturday, 7 December visit is part of the government’s policy […]
The EY Attractiveness Forum 2024, held on 4 December in Limassol, highlighted the international investment community’s perception of Cyprus as an attractive investment destination while addressing the challenges and opportunities shaping the country’s economic future. The event brought together key stakeholders, including investors, government officials, and business leaders. Address by President of the Republic President […]
Y Cyprus on Friday announced that its recently held forum highlighted the international investment community’s view of Cyprus’ investment appeal. The EY Attractiveness Forum also addressed key economic challenges and opportunities, bringing together a number of influential stakeholders. This included investors, government officials, and a number of business leaders. In his opening remarks, the President […]
The Energy Ministry is offering a second chance for small and medium-sized enterprises (SMEs) and non-profit organisations to secure funding through the ‘Save – Upgrade’ scheme. This initiative, backed by the EU Recovery and Resilience Plan, seeks to promote energy-saving investments with a total budget of €24 million. Applications will open on a date yet […]
The Research and Innovation Foundation (RIF) on Friday announced the launch of ‘Boost,’ a new blended finance scheme. The new scheme is designed to support certified innovative companies in Cyprus by providing grants of up to €300,000. The initiative aims to bolster innovation and enhance the entrepreneurial ecosystem by incentivizing equity-based investments. Under the Boost scheme, certified companies […]
The turnover index for Cyprus’ industrial sector rose by 1.3 per cent in September 2024, when compared to the same month in 2023, according to the state’s statistical service. Over the first nine months of 2024, the index recorded a cumulative increase of 2.2 per cent compared to the corresponding period in 2023. In September 2024, the Industrial […]
The European Union (EU) and Cambodia officially launched the EU Twinning Project with the National Institute of Statistics (NIS) titled “Enhancing the Quality of the Statistics System in Cambodia in Phnom Penh yesterday. The event was attended by EU Ambassador to Cambodia Igor Driesmans and the Minister of Planning (MoP), Bin Trachhey, with Team Europe […]
The lighting of the Paphos Christmas tree took place on Wednesday night at Kennedy square. The Paphos municipality decorated the streets with festive ornaments and lit the Christmas tree for the holidays in the presence of a large crowd. Paphos mayor Phedonas Phedonas lighted the Christmas tree after he wished everyone happy holidays. A parade […]
Trade activity between Cambodia and Laos is expected to grow after the two governments signed a double taxation agreement (DTA) aimed at addressing income tax issues and preventing tax evasion, despite the currently modest trade volume between the neighbouring countries. The agreement was signed on December 4 in Phnom Penh by Minister of Economy and […]
Krama Khmer (Cambodian scarf) was inscribed on the UNESCO Representative List of the Intangible Cultural Heritage of Humanity during the 19th session of the Intergovernmental Committee for the Safeguarding of the Intangible Cultural Heritage, being held in Asunción, Paraguay tonight (Cambodian time). This is another new pride for the 7th-mandate Royal Government for having attained […]
The bloc is actively working as an organisation to remove barriers to intra-regional trade WHILE the world debates the next chapter of globalisation, it’s a case of full steam ahead in Asean markets. Investors are flocking to the region, drawn by its trade links, digital transformation and the demand for sustainable infrastructure. Less visible, but […]