Cambodia’s economy is projected to grow by 6.3 percent in 2025, which will raise the country’s gross domestic product (GDP) to $51.39 billion, a senior official stated on Monday. The Southeast Asian nation’s economy is primarily driven by exports of garments, footwear, and travel goods, along with tourism, construction and real estate, and agriculture. Ung […]
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 […]
Passenger traffic at Larnaca and Paphos airports recorded a 6.81% increase in January 2025 compared to the same month in 2024, according to a press release by the Ministry of Transport, Communications and Works on Monday, thanks to a 12.7% increase recorded in Larnaca and despite a 7.24% drop at Paphos Airport.
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 […]
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 […]
Cyprus may be famed for sun, sea and “sheftalia”, but it is also home to a dynamic art scene. Come late spring 2025, the Mediterranean island will open a new chapter in its creative journey: enter VIMA, Cyprus’s first international contemporary art fair. “The time has come.” This was the sentiment Lara Kotreleva heard over […]
The Bank of Cyprus on Friday announced that it has introduced a new operational model for its branch network. According to the bank, this aims to enhance customer service through a combination of modernisation, efficiency, and personalised support. The updated structure includes four distinct types of branches designed to cater to different banking needs. Under […]
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 […]
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 […]
A delegation from nine European countries has expressed serious interest in Cambodia’s investment potential. During a meeting with the leadership of the Council for the Development of Cambodia (CDC), they shared their intention to suggest that their investors consider exploring commercial opportunities in the Kingdom. Sun Chanthol, first vice-president of the CDC, met with the […]
The International World Rice Conference (WRC) – considered the world’s most prestigious rice competition – may be held in Cambodia in 2025. This comes against the background of expectations that the Kingdom’s rice exports may have experienced a slight decline in 2024. During a meeting with Cambodian Prime Minister Hun Manet in Phnom Penh on […]
The announcement that BYD Auto will establish an assembly plant in Cambodia by the end of the year has attracted widespread praise from the Kingdom’s businessmen and economists. They have pointed out that the presence of China’s largest electric vehicle (EV) manufacturer, BYD, will contribute to Cambodia’s economy at a time when global political stability […]
Hollywood star Angelina Jolie – who became a Cambodian citizen in 2005 – has stated in a recent interview that she considers Cambodia as her home. Speaking to people.com, the Tomb Raider star was asked where she considered was her home. “In my heart, Cambodia,” Jolie answered. “My first trip was Tomb Raider, where you saw me hanging […]
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 […]
The Management of Superhome Center (DIY) Limited has announced that an agreement has been reached for the company’s sale to Vasilitsi DIY Ltd. According to an official announcement to the press, the transfer of ownership is set to be completed within the month of February and “CEO, George Giovanni, and his team will continue guiding the […]
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 […]