The Paphos-Polis highway is the fourth public project this government has terminated because of major disputes with the contractor. Last year it pulled the plug on the waste treatment plant in Pentakomo, while earlier this year it ended the contract for the Larnaca port and marina with Kition Ocean Holdings followed by the termination of […]

What they are, why we should care and what we can do about the problems they cause The term invasive alien species (IAS) is used to describe organisms that are introduced accidentally or deliberately into a natural environment where they are not normally found, and which have severe negative consequences for their new environment. Alien […]

Wall Street firms are expected to pay heftier bonuses for this year, the first increase since a bumper year in 2021, according to a report by compensation consultancy Johnson Associates. Payouts will probably rise after financiers benefited from several factors in recent months: a recovery in dealmaking, the Federal Reserve cutting interest rates and equity […]

British wage growth excluding bonuses fell in the third quarter to its lowest in over two years, official data showed on Tuesday, potentially boosting the Bank of England’s confidence that inflation pressures will continue to ease. Average weekly earnings, excluding bonuses, were 4.8 per cent higher in the three months to the end of September […]

The Bank of Cyprus (BoC) on Tuesday reported a profit after tax of €401 million for the first nine months of 2024, representing a 15 per cent increase year-on-year. According to the bank’s latest financial results, €131 million of this amount was generated during the third quarter. “We continue to generate strong financial and operational […]

Wednesday will be mainly sunny in most areas with a chance of isolated afternoon rains, mainly in the mountains and in the south. Temperatures will rise to 25C inland and on the coasts and 14C in the higher mountains. Winds will be mainly south-to north-westerly, light to moderate, up to 4 Beaufort. The sea will […]

U.S. President-elect Donald Trump on Tuesday named Elon Musk to a role aimed at creating a more efficient government, handing even more influence to the world’s richest man who donated millions of dollars to helping Trump get elected. Pete Hegseth, a Fox News commentator and veteran has been picked for the post of secretary of state. […]

A 15-year-old was seriously injured while riding a moped overnight in the Famagusta district. According to the police, the accident happened around 9pm on Tuesday in Xylophagou, when a 35-year-old woman driving on Anastassi Manoli Street, under circumstances that are being investigated, ran over and injured the 15-year-old boy. The 15-year-old was initially taken by […]

Foreign Minister Constantinos Kombos met his Azeri counterpart on the sidelines of COP29, the first such contact from the state. Kombos had a bilateral meeting with Azeri Foreign Minister Jeyhun Bayramov, in Baku, Government Spokesman Konstantinos Letymbiotis posted on X. Letymbiotis said the two ministers had discussed issues of mutual interest in a frank exchange […]

The United States stressed at the United Nations that “there must be no forcible displacement, nor policy of starvation in Gaza” by Israel, warning such policies would have grave implications under U.S. and international law. The remarks by U.S. Ambassador to the U.N. Linda Thomas-Greenfield came just hours after Washington said its ally Israel was […]

“Cyprus has gone from zero to over 330 licensed investment entities managing €9 billion in assets in just a decade,” according to Maria Panayiotou, president of the Cyprus Investment Fund Association (CIFA). Speaking at the 5th Fund and Asset Management Conference in Athens, Panayiotou attributed this growth to “relentless effort and strategic vision.” She added […]

Police on Wednesday are investigating the theft of a large number of gold items after a search at a Nicosia gold shop. The owner of the property, aged 78, has been arrested and taken into custody for questioning. According to the police, the search happened as part of an ongoing investigation into a spate of […]

By Danielle Broadway Actor and director John Krasinski was named People magazine’s “sexiest man alive” for 2024 on Wednesday, taking over the mantle from “Grey’s Anatomy” actor Patrick Dempsey. “Just immediate blackout, actually. Zero thoughts,” Krasinski told People in reaction to the news. The actor is perhaps best known for his sardonic nice guy role […]

ADB’s Country Partnership Strategy for Bhutan for 2024-2028 aims to enable inclusive, sustainable, resilient, and job-creating growth.

Opening remarks by Scott Morris, ADB Vice-President (East Asia, Southeast Asia, and the Pacific), at the East Asia Forum 2024, 19 September, Beijing, People’s Republic of China

The Asian Development Bank has launched a new country partnership strategy (CPS) to support the Philippines’ transformation in the next 6 years. It is designed to ensure sustainable, inclusive and resilient growth in the face of climate challenges.

Uncovering crucial gaps in climate change data systems reveals how these deficiencies hamper our understanding of climate impacts on vulnerable populations in developing Asia. How can we empower national statistical systems in collecting and analyzing data they need to effectively tackle climate change?

Opening remarks by Roberta Casali, ADB Vice-President for Finance and Risk Management, at the 2024 Asian Regional Forum on Investment Management of Foreign Exchange Reserves, 25 September 2024, Japan

Understanding the roots and complexities of fragility helps ADB meet the challenges facing many countries in Asia and the Pacific.

Remarks by Masatsugu Asakawa, President, Asian Development Bank, at the 21st Annual Meeting of the Independent Accountability Mechanisms of Multilateral Banks and International Financial Institutions, 1 October 2024, ADB headquarters, Manila, Philippines

The Mortgage Market Sector Development Program aims to transform the government’s housing financing approach to a market-based mortgage system that can provide long-term and affordable housing loans to low- and middle-income households, with specific consideration to home ownership by women.

The Asian Development Bank is ramping up investment in technical and vocational education and training in Bhutan, which is helping to train thousands

Decision makers need to analyze, exchange, and disseminate statistical information effectively in today’s data-driven world. See how Statistical Data and Metadata eXchange (SDMX) standards are helping create robust data links across the globe.

ADB sought to understand what improving transport meant for the community. Prior to project design, consultations were conducted with residents in Ulaanbaatar’s ger areas. Design decisions were tested back to ensure that mobility pain points were addressed.

A sovereign exposure exchange is a cost-effective risk management tool used by multilateral development banks (MDBs) to reduce sovereign portfolio concentration risks. It provides capital relief for MDBs by exchanging loan guarantees on credit exposure from borrowing countries where an MDB is highly concentrated for exposure to countries where the MBD’s exposure is lower or nonexistent.

The Innovative Finance Facility for Climate in Asia and the Pacific, or IF-CAP, is a multi-donor financing partnership facility with the goal of scaling-up finance for accelerated action against climate change in Asia and the Pacific.

This video introduces a new publication presenting five case studies of projects in the People's Republic of China that illustrate how effective solutions to environmental and social problems have been applied in different contexts.

ADB recently launched the Georgia Public–Private Partnership (PPP) Monitor. Helen Steward, Principal Markets Development Advisory Specialist in ADB’s Office of Markets Development and Public–Private Partnerships, explains what the PPP Monitor is all about.

Developing Asia’s outlook remains upbeat, with falling inflation and solid growth driven by strong domestic demand and exports. But risks remain, including geopolitical tensions and rising protectionism. How can the region remain resilient?

Mongolia's nomadic herders, reliant on fragile ecosystems, are facing increasing challenges from climate change. The Asian Development Bank is empowering these communities with small grants and targeted initiatives to build climate resilience.

Remarks by Masatsugu Asakawa, President, Asian Development Bank, at the 8th Greater Mekong Subregion Summit, Plenary Session, 7 November 2024

This infographic examines how extreme heat disproportionately impacts women in Asia and the Pacific, presenting data on health and economic vulnerabilities shaped by intersecting factors like age, hormonal influences, caregiving roles, and limited cooling access.

Remarks by Masatsugu Asakawa, President, Asian Development Bank, at the 8th Greater Mekong Subregion Summit, Leaders’ Retreat, 7 November 2024

Remarks by Masatsugu Asakawa, President, Asian Development Bank, at the 30 Years of Kazakhstan-ADB Anniversary Reception, 8 November 2024

Climate change is accelerating the melting of glaciers, threatening the essential services glaciers provide--such as water supply for drinking, hydropower, and agriculture--and increasing the risks of flooding and drought. As Asia and the Pacific's climate bank, ADB is working to protect ecosystems and communities, and enhance livelihoods and opportunities, amid accelerated glacial melt.

Keynote address by Masatsugu Asakawa, President, Asian Development Bank, at the 23rd Ministerial Conference of the Central Asia Regional Economic Cooperation Program, 8 November 2024

Bamboo value chain can be developed and scaled up to support climate action, create green jobs, resilient businesses, and financial health, especially for the region's rural communities.

With ADB’s support, Azerbaijan is investing heavily in renewable energy to encourage sustainable growth and diversify the country’s energy supply.

Intervention by Masatsugu Asakawa, President, Asian Development Bank, on behalf of the multilateral development banks at COP29, World Leaders Summit, 12 November 2024

Remarks by Masatsugu Asakawa, President, Asian Development Bank, at the Innovative Finance Facility for Climate in Asia and the Pacific Kick-Off Event, 12 November 2024

The Federal Reserve’s monetary policy has become increasingly data-dependent, with inflation and employment figures driving the nascent easing cycle. What does this mean for Asia’s financial markets?

ADB has a vacancy for the position of Experts Pool: Senior Disaster and Climate Risk Financing Specialist in the Sustainable Development and Climate Change Department. The deadline for submitting applications is on 11 January 2022.

ADB has a vacancy for the position of Senior Ombuds Programs Officer in the Office of the Ombudsperson. The deadline for submitting applications is on 13-NOV-2024.

ADB has a vacancy for the position of Senior IT Officer (Change Lead) in the Information Technology Department . The deadline for submitting applications is on 13-NOV-2024.

ADB has a vacancy for the position of Senior Compliance Review Officer in the Office of the Compliance Review Panel. The deadline for submitting applications is on 21-NOV-2024.

ADB has a vacancy for the position of Senior Secretariat Assistant in the Office of the Secretary. The deadline for submitting applications is on 18-NOV-2024.

ADB has a vacancy for the position of Principal Integrity Specialist in the Office of Anticorruption and Integrity. The deadline for submitting applications is on 19-NOV-2024.

ADB has a vacancy for the position of Associate IT Officer (Technology Operations Governance and Service Management) in the Information Technology Department . The deadline for submitting applications is on 19-NOV-2024.

ADB has a vacancy for the position of Senior Financial Control Assistant in the Controller's Department. The deadline for submitting applications is on 21-NOV-2024.

ADB has a vacancy for the position of Senior/Principal Planning and Policy Specialist in the Strategy, Policy and Partnerships Department. The deadline for submitting applications is on 22-NOV-2024.