The average gross monthly earnings of employees in Cyprus rose by 5.3 per cent in 2024, reaching €2,487, according to provisional data released on Wednesday by the state statistical service. In terms of the fourth quarter of 2024 specifically, gross monthly earnings stood at €2,813, up from €2,680 in the same quarter of the previous year. This represents a 5 per cent year-on-year increase. When […]
Marking 26 years in the Association of Southeast Asian Nations (ASEAN), Cambodia reflects on its journey from post-conflict member to active regional contributor. On April 30, 1999, Cambodia joined the ASEAN family and became the 10th member of the bloc, and ever since, the association has always been an integral part of Cambodia’s foreign policy. […]
In recent developments across Southeast Asia, it was reported that eco-tourism and community-based travel initiatives had gained significant momentum entering 2025. It was emphasized by regional tourism boards that a new breed of travelers — increasingly conscious about their environmental impact — was seeking experiences that combined luxury with sustainability. Observers noted that locations such […]
Private sector leaders are optimistic that electric vehicle (EV) usage in Cambodia will surge, as construction of a local assembly plant of Chinese EV giant BYD (Build Your Dream) got underway. The facility is scheduled to officially start operations in early November 2025. The groundbreaking ceremony for BYD Cambodia Co., Ltd., a subsidiary of BYD […]
The requirements which Cyprus must fulfil to be admitted to the Schengen zone have been outlined, with the island said to be five steps away from being able to join. Joining the Schengen zone will effectively abolish border checks between the Republic of Cyprus and 29 European countries, with air and maritime passenger transport to […]
The Ministry of Agriculture, Forestry and Fisheries (MAFF) and the Korea International Cooperation Agency (KOICA) Monday signed a $12 million grant agreement to boost climate-resilient farming by empowering Commune Agriculture Officers (CAOs). The signing ceremony was presided over by Dith Tina, Minister of Agriculture, Forestry and Fisheries (MAFF) and Choi Moonjung, Country Director of KOICA […]
Cambodia Monday took a major step forward in its climate and energy ambitions with the launch of a new project aimed at accelerating energy efficiency in the building sector. The Ministry of Mines and Energy (MME), together with the United Nations Capital Development Fund (UNCDF) and UNDP Cambodia, officially unveiled the ‘Accelerating Energy Efficiency in […]
Cambodia’s current account balance as a share of GDP for the current year has been projected at 2.26 percent, as per the latest report released by the International Monetary Fund (IMF). The current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording […]
How energy communities are an integral part of the renewable storage solution By Natasa Ioannou Cyprus is experiencing a critical juncture in its transition to renewable energy. While renewable energy generation continues to grow, recent curtailments – even among households with photovoltaic (PV) systems – highlight serious limitations in the island’s outdated grid and lack […]
Foreign investors have officially notified Cypriot authorities this week of plans to establish a new coastal ferry link between Cyprus and Lebanon, according to the announcement. The proposal, confirmed by information obtained by Philenews on Tuesday, sets out a passenger-only connection from the port of Larnaca to Jounieh, a coastal town just north of Beirut. Initial contacts […]
The Central Bank of Cyprus (CBC) will publish a revised directive on the prevention of money laundering and terrorist financing on May 2, according to an announcement released on Tuesday. The updated framework aims to strengthen compliance obligations for banks and other supervised entities. It will also help to ease procedures where feasible for citizens and businesses interacting with the financial system. The CBC stated […]
Tourism revenues in Cyprus reached €79.7 million in February 2025, marking an increase of 22.4 per cent compared with the same month last year (€65.1 million), according to an announcement issued by the statistical service this Tuesday. Moreover, for the first two months of the year, revenues rose by 35 per cent, with total earnings estimated at €148.9 million, compared with €110.3 […]
Salamis Tours (Holdings) Public Ltd on Tuesday posted a robust financial performance for 2024, marked by double-digit revenue and profit growth across its business units, while also undergoing a major change in ownership structure. The company’s consolidated financial statements, approved by the board and audited by Ernst & Young Cyprus Ltd, show a profitable year, driven largely by maritime operations […]
Cambodia and the United Nations on Monday launched a new project, aiming to advance energy efficiency in Cambodia’s building sector, said a joint press release. The project, titled “Accelerating Energy Efficiency in Cambodia’s Building Sector,” was funded by the UN Joint SDG Fund, the press release said. It was designed to address behavioral, regulatory and […]
The National Assembly of Cambodia (NA) and the Royal Thai Embassy in Phnom Penh yesterday agreed to enhance cross-border commercial and investment activities, as well as improve transport infrastructure aimed at boosting bilateral trade volume to over $10 billion by the end of this year. An agreement was reached during the meeting between Khuon Sudary, […]
The potential accession of Cyprus to the Schengen Zone can act as a powerful growth driver, as Stelios Demetriou, Partner and Head of Strategy and Transactions at EY Cyprus, explains. In an interview with InBusinessNews, he also notes that such a development can mark a decisive step towards the country’s European integration and send positive […]