The Lamda Development group announced a new record high for 2023 on Wednesday. Its consolidated operating result (EBITDA) for 2023 showed profits of 206 million euros, a 69% increase compared to €122 million in 2022. The group’s total EBITDA before asset valuations and other adjustments amounted to a profit of €132 million in 2023, compared […]
The Cyprus Securities and Exchange Commission (CySEC) has called for financial education to be included in the core curriculum in schools as it completed its rich and targeted activities program for this year’s Global Money Week 2024 (GMW 2024). The GMW campaign is an international initiative dedicated to enhancing financial literacy, especially among the youth. As pointed […]
Anexartisias in Limassol will be converted into a one-way street according to the decision of the Municipal Council, as a temporary solution and until the proper conditions for it being opened only to pedestrians are created, something considered difficult amid conditions in Cyprus. Essentially, cars will enter from Pentadromos in the direction of the sea […]
Cyprus has, in the last two years, one of the largest increases in the share of Renewable Energy Sources (RES), among the EU member states, Energy Minister George Papanastasiou has said. He was speaking during the 14th Assembly of the International Renewable Energy Agency (IRENA) in Abu Dhabi on 18 April. In the framework of […]
According to the Bangladesh-based Daily Star, Siem Reap, a cultural province of Cambodia, has been classified among the five Budget-Friendly Summer Vacation Destinations in Asia. Located in Southeast Asia, Siem Reap is a gem with breathtaking temples, vibrant cafés, and serene canals, the Daily Star commented. One of the most amazing sights in the world, […]
Cambodia exported garment, footwear and travel goods worth 20 percent more than $2.9 billion in the first quarter, as per a report from the General Department of Customs and Excise. This compared to $2.4 billion in goods sold for the same period last year. Year-to-date (January-March) there was an increase of 23 percent in exports […]
Neighbouring Vietnam has consolidated its position as the second biggest trade partner of Cambodia after China with trade volume between the two rising by 24.5 percent to reach $2.32 billion in the first three months of this year (Q1, 2024), compared to the same period last year, according to data released by the General Department […]
With the Royal Government of Cambodia emphasizing tourism as one of the key pillars for achieving Prime Minister Hun Manet’s Pentagonal Strategy, travel and tourism players are unanimous that Cambodia needs more attractions. A promising prospect in this respect is the less well-known potential of Kirirom National Park. Kirirom National Park, with its distinctive pine […]
11 high-speed locomotives from Japan will arrive in Cambodia next week. The locomotives have been purchased by Royal Railway Cambodia, a company owned by Tycoon Kith Meng. The 11 KiHa 183 Series DMU high-speed passenger locomotives will be shipped from Hokkaido to Cambodia and left Japan on April 15, 2024 and are scheduled to arrive […]
The Ministry of Finance has welcomed the new estimates for Cyprus by the International Monetary Fund (IMF) as part of the World Economic Outlook (WEO). According to the IMF estimates, the growth rate for 2024 is projected at 2.7% and for 2025 at 2.9%. The forecast for 2024 remains the same as the previous IMF […]
Ministry of Energy, Commerce and Industry Permanent Secretary, Marios Panayides, has stressed need to enhance collective planning for the development of electricity networks, particularly in regions lacking interconnections such as Cyprus. Representing Cyprus at the informal EU Energy Council held in Brussels on 15 and 16 April, Panayides stressed the importance of addressing issues related to […]
Deputy Minister of Tourism Kostas Koumis has expressed satisfaction over a 9.8% rise in tourist arrivals in March, according to figures released by CySTAT. “In the face of challenges, our country’s tourism sector demonstrates resilience,” Koumis noted in a written statement on 17 April. He added that the Deputy Ministry closely monitors every development that directly or […]
The University of Cyprus and Boltzmann Research, a team of scientists seeking to tackle the challenge of predicting financial markets, have signed a Memorandum of Understanding (MoU), according to a statement released this week. The MoU, signed by professor Konstantinos Fokianos, Head of the Department of Mathematics and Statistics at the University of Cyprus, and Chariton Christou, CEO […]
Agrotourism in Cyprus is on the rise, according to statements made by Deputy Minister of Tourism Kostas Koumis at the 18th Annual General Assembly of the Cyprus Agrotourism Society held this week in Platres. Significantly, this trend is also evident in the overnight stays recorded in agrotourism accommodations, with a total of 166,293 in 2023 […]
Egypt desperately needs a major gas discovery to shore up its declining production The submission of the updated development plan for the Aphrodite gasfield by Chevron at the beginning of April, and the subsequent statement by Energy Minister George Papanastasiou that the earlier “difficulties have been overcome” is good news not only for Cyprus but […]
Cambodia’s trade with other ASEAN countries rose by 18.64 percent to $4.32 billion in the first quarter of this year, a report from the Ministry of Commerce showed. From January to March, Cambodia exported $1.77 billion worth of goods to ASEAN, a year-on-year increase of 33.1 percent, read the report. Meanwhile, Cambodia’s import from ASEAN […]