Finance Minister Makis Keravnos said the government’s goal is to create a fully digitalised state offering quality services, addressing a gathering over the weekend. The summit, entitled “The future of Business: Adapting to a Changing Landscape”, was organised by CIM, the Cyprus Business School at the Bank of Cyprus headquarters in Nicosia. Speaking about the digital transition, […]
Cyprus’ General Government surplus exceeded half a billion in the first two months of 2024 marking an increase of 34% compared with the respective period of last year. According to preliminary data released by the Statistical Service of Cyprus (CyStat), the general government fiscal results indicate a surplus of €534.8m, representing 1.7% of GDP, for […]
The Cyprus-Greece maritime passenger connection will run for a third consecutive year, subsidized by Nicosia following the European Commission approval. An announcement from Cyprus’ Deputy Ministry for Shipping is expected on April 16, regarding the resumption of the service, scheduled to commence on May 29. Ticket sales will begin shortly after the announcement. In 2023, […]
Career banker Christodoulos Patsalides was appointed governor of the Central Bank of Cyprus on Monday for a five-year term, the island’s presidency said. Patsalides, who will represent Cyprus on the rate-setting Governing Council of the ECB, takes up his duties on April 11, replacing Constantinos Herodotou. Patsalides has been an economic adviser to Cypriot President […]
The construction sector achieved remarkable growth last year with constructed area and investment showing a positive growth. The Ministry of Land Management, Urban Planning and Construction issued construction permits to 3,207 projects in 2023, a year-on-year decrease of 25 percent or 1,068 projects down from 4,275 projects approved in 2022, according to a Socio-Development Trend […]
Hong Kong-based Sunwah Group, along with a group of leading investors, have evinced interest to invest in a range of areas including financial technology to smart city development and property and energy to tourism in Cambodia. Sunwah Group Chairman Jonathan K.S. Choi made these remarks during a meeting with Prime Minister Hun Manet on Monday […]
Sunwah Group, a Chinese company based in Hong Kong, has been investing in Cambodia since 1994, especially in export seafood processing. It is now planning to extend its investment in the Kingdom to five other key areas. Jonathan K.S. Choi, Chairman of Sunwah Group, told Mr Hun Manet, Prime Minister of Cambodia, of his company’s […]
Yianna Christou explains how beverage companies are embracing ESG. This shift in consumer priorities means that brands actively engaging in ESG initiatives can build, trust, credibility and emotional connection strengthening their consumer base. Integrating Environmental, Social, and Governance (ESG) principles into marketing strategies is crucial for the beverage industry’s future,” says Yianna Christou, a marketing […]
Cambodia leads the growth projection in Southeast Asia in 2024, according to Seasia Stats based on Southeast Asia’s 2024 GDP growth projection from the IMF’s October 2023 Outlook and January 2024 update. “Cambodia tops the list with 6.1 percent, while the Philippines ranks second with 5.9 percent and Vietnam third with 5.8 percent.” For Asia, […]
On Saturday 6th and Sunday 7th April 2024, the Medical & Health Expo Cy is being held under the auspice of the Cypriot Ministry of Health. This is a brand-new exhibition that aims to fill a gap in the market by covering the medical, paramedical and pharmaceutical sectors. The first-ever Medical & Health Expo Cy […]
The Undersecretary of State and Spokesman for Civil Aviation has stated that Emirates flights from Cambodia to United Arab Emirates – connecting Phnom Penh to Dubai – should resume in May, after the stoppage due to the pandemic. Mr. Sin Chanseryvutha, Undersecretary of State and Spokesman for Civil Aviation, stated that the Royal Government of […]
The Council for the Development of Cambodia (CDC) approved 106 fixed assets investment and expansion projects worth $2.2 billion in the first three months of this year, a jump of 649 percent over the same period last year. Of the approved projects, 73 are in special economic zones and 33 others in non-special economic zones, […]
The Ministry of Commerce (MoC) is one of the busiest ministries of the Royal Government of Cambodia with too many things on its plate. Besides maintaining the momentum of the flow of export of goods and products to maintaining good relations with trading partners, the MoC is also engaged in exploring new frontiers to attract […]
Although the construction of the beach between the rainbow bridge (the old bridge) to Kampong Bay bridge (the new bridge) is not yet complete, the provincial governor said it will be open to tourists on the occasion of the upcoming Khmer New Year, while the specialised department is busy accelerating the construction of the road […]
The latest SCB EIC report expects ASEAN CLMV nations, including Cambodia, to witness accelerated economic growth in 2024 due to increasing foreign direct investment compared to prior years. The SCB EIC is the Economic Intelligence Center (EIC) unit of the Siam Commercial Bank Public Company Limited (SCB), headquartered in Bangkok, Thailand. The EIC produces regular […]
Sir Stelios Haji-Ioannou has joined the board of The Hellenic Initiative (THI), an organisation investing in Greece through philanthropic actions and programmes focused on economic recovery, according to an announcement released on Friday. As part of its mission, The Hellenic Initiative seeks to “mobilise people to address the consequences of the crisis, empower entrepreneurship, and create […]