Cyprus unveils €35m scheme to boost energy storage capacity

Cyprus unveils €35m scheme to boost energy storage capacity

The Ministry of Energy has today published guidelines for its €35 million energy storage scheme, previously approved by the Council of Ministers, aimed at promoting energy storage solutions across the country. The scheme, funded through the ‘THALIA 2021-2027’ Cohesion Policy Programme and the Just Transition Fund, targets approximately 150MW of storage capacity with total storage capabilities of […]

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S&P raises Bank of Cyprus rating to ‘BBB-’, outlook stable

S&P raises Bank of Cyprus rating to ‘BBB-’, outlook stable

S&P Global Ratings has upgraded the long-term issuer credit rating of Bank of Cyprus Public Co. Ltd. (BoC) to ‘BBB-’ from ‘BB+’, reflecting improvements in the Cypriot banking sector’s funding stability. “Cypriot banks have further reduced their dependence on less stable non-resident depositors and improved their loans-to-core-deposits ratio, increasing funding stability in Cyprus’ banking system,” the credit agency stated. The outlook for […]

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Pissouri village wins global tourism excellence award

Pissouri village wins global tourism excellence award

The Cypriot village of Pissouri will be honoured as one of the world’s best tourism villages at a celebration event on 15 February, following its recognition by the World Tourism Organization (UNWTO). The accolade, shared with fellow Cypriot village Kalopanayiotis, acknowledges Pissouri’s dedication to sustainable tourism development and promotion of local products, traditions, and natural […]

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First developer joins Cyprus affordable housing scheme

First developer joins Cyprus affordable housing scheme

Cyprus’s new housing incentive programme has secured its first developer, with CYFIELD signing an agreement to build an apartment complex in Strovolos, the Cyprus Land Development Corporation (CLDC) announced on Friday. The project will utilise the Special Housing Incentive for Affordable Housing Production, which allows developers to exceed standard building coefficients by 45 percent. Under […]

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Cambodia’s foreign reserves set to rise to $22.5 billion in 2024, according to the governor of the central bank

Cambodia’s foreign reserves set to rise to $22.5 billion in 2024, according to the governor of the central bank

Cambodia’s international reserves increased to $22.5 billion in 2024, representing a year-on-year rise of 12.6 per cent, the National Bank of Cambodia’s Governor Chea Serey stated on Saturday. International reserves under the NBC’s control include foreign currencies, gold, and SDR (Special Drawing Rights). “Cambodia’s level of international reserves is considered high and can secure the […]

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Cyprus airport expansions receive green light

Cyprus airport expansions receive green light

The environment department has officially approved the expansion plans for both the Larnaca and Paphos international airports, it emerged on Thursday. The approval follows an agreement signed on December 23, 2024, extending Hermes Airports’ management until 2033, a move that paved the way for major infrastructure upgrades. The deal resolved long-standing financial disputes and facilitated the launch of Phase 2 […]

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Ministry of Tourism engages in discussions with the SDC regarding cooperation in the field of tourism

Ministry of Tourism engages in discussions with the SDC regarding cooperation in the field of tourism

On February 5, Cambodian Minister of Tourism Hout Hak received a courtesy visit from Mr Reto Grueninger, Director of Cooperation at the Swiss Agency for Development and Cooperation (SDC), to discuss potential collaborative opportunities in the field of tourism. During the meeting, Minister Hak and Mr Grueninger deliberated on various initiatives to foster vocational training […]

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