Cyprus has recorded one of the highest productivity growth rates in the services sector for June 2024 compared to the same period in 2023, according to data released by Eurostat on Friday. Specifically, services sector productivity in Cyprus increased by 5.5 per cent on an annual basis. However, on a monthly basis, the growth rate […]
Employment in Cyprus and hours worked rose by an annual 2.1% and 2.3%, respectively, in the second quarter of 2024, according to a provisional estimate published by CySTAT. The number of people working during the 2nd quarter of 2024 is estimated at 484,308 of whom 434,770 are employees and 49,538 are self-employed. Compared to the corresponding quarter of […]
“Cyprus, do you understand what a compatriot of ours has done?” was the cry from Cyprus’ Paralympic Committee on Friday morning after Karolina Pelendritou won a bronze medal in the SB11 category 100 metres breaststroke on Thursday night. Pelendritou’s bronze medal is her second at this year’s Paralympic Games, having won a silver medal in […]
The Nicosia Municipality on Friday announced the launch of a new two-month business accelerator programme. This initiative is specifically aimed at individuals, teams, and existing businesses in the creative and cultural sectors who are looking to develop their ideas. According to a statement from the municipality, the Nicosia HUB-IN Accelerator is “designed to support the growth of creative and cultural enterprises”. The […]
Garnering global recognition, the Kingdom was bestowed with two honours at the recent World Travel Awards in the Philippines. Cambodia was crowned the leading cultural destination in Asia in addition to Asia’s leading youth tourism destination at the awards held on Tuesday in Manila. The twin triumphs are all the more noteworthy given that this […]
Bilateral trade between Cambodia and Thailand is expected to reach $15 billion by 2025, said a release on Wednesday. The optimism was shared during a meeting between Khuon Sudary, President of the National Assembly of Cambodia and the outgoing Ambassador of Thailand Cherdkiat Atthakor. On behalf of the National Assembly, Sudary expressed her deep gratitude […]
Cambodia launched a $27 million project on Thursday to enhance the sustainability, export, competitiveness, and inclusiveness of the Kingdom’s cashew nut and pepper industries, according to a joint press release. Jointly funded by the European Union (EU) and Germany’s Ministry for Economic Cooperation and Development, the five-year project will be implemented by the German Agency […]
Cambodia’s economy is projected to grow by 5.6 % this year, up from 5% compared to last year, boosted by a rise in garment exports and ongoing tourism recovery, said an ASEAN+3 Macroeconomic Research Office (AMRO) press release on Thursday. “A rebound in the garment sector due to stronger demand in major markets and a […]
Passenger traffic at Athens International Airport took off last month, registering a 10.5% increase compared to August 2023. According to data from AIA, passenger traffic reached 3.64 million in August 2024, up 10.5% compared to August 2023 levels. In detail, both domestic and international passenger traffic exceeded the corresponding figures for last year by 6.8% […]
The Industrial Turnover Index increased by 2.6% in June 2024 on an annual basis, Cystat said. The index reached 136.6 units (base year 2021=100). For the period January to June 2024, the index recorded an increase of 2% compared to the same period in the previous year. In manufacturing, the Industrial Turnover Index for June […]
The Cyprus Information Technology Enterprises Association (CITEA) announced this week that it has signed a cooperation agreement with the Dubai World Trade Centre (DWTC). This agreement paves the way for Cypriot IT companies to participate in the prestigious GITEX technology exhibition, held annually in Dubai. This agreement marks a significant step forward for Cyprus’ growing […]
The Cyprus Chamber of Commerce & Industry (Keve) on Thursday announced that the Shorewinner project, a pioneering effort to advance skills in the offshore renewable energy sector, is set for its official launch in Cyprus. The chamber will host the event at its premises in Nicosia on September 26. It is scheduled to start at 11:00 and conclude at […]
Alessandro Camilotti joins from Swedish financial technology company Klarna Digital banking platform FINOM, which also has offices in Cyprus, announced the appointment of Alessandro Camilotti as its new chief financial officer on Thursday. The Amsterdam-based firm explained that Camilotti’s appointment aims to bolster the executive team as FINOM scales its operations across the European Union. […]
Cyprus’ Turnover Value Index for the transport and storage sector reached 139.4 units in the second quarter of 2024, marking an increase of 1.8 per cent compared to the same period last year. The Cyprus Statistical Service (Cystat), which released its latest transport and storage sector report this week, noted that 2021 serves as the base year with a value […]
A large environmental and social initiative for Paphos and its neighbouring urban areas is advancing as architectural plans are being drawn up for the Eastern Linear Park. Situated along the borders of Paphos, Geroskipou, and Konia, the park will extend from the Limassol-Paphos motorway’s terminal roundabout to the Limnaria area in Kato Paphos. The project […]
The Bay of Lights, a transformative USD 16 billion coastal township development project, took center stage at the inaugural Singapore Business Expo 2024, coinciding with Singapore’s 59th Independence Day celebrations. Showcased as the groundbreaking project, the Bay of Lights is poised to transform Cambodia’s coastal economy and create ripple effects across the Southeast Asia region. Transforming […]