What is the common bond between the Greek words "Phoenician" and "phoenix"?

The Greek word ["phoinix"] is first attested in the Mycenaean Greek po-ni-ke, which probably meant "griffin", though it might have meant "palm tree". That word is probably a borrowing from a West Semitic word for madder, a red dye made from Rubia tinctorum. The word Phoenician appears to be from the same root, meaning "those who work with red dyes". So phoenix may mean "the Phoenician bird" or "the purplish-red bird".