Poor local showing at Phnom Penh’s agro fair
Cambodia’s biggest agriculture industry event of the year received a cool response on its first day as turnout from local agro-businesses was low and overseas suppliers struggled to find potential buyers for the latest agricultural products. ...
Cheng Sokhorng
http://www.phnompenhpost.com/business/poor-local-showing-phnom-penhs-agro-fair
Bitter harvest for rice farmers
It’s almost 10 in the morning in Battambang province’s Bavel district and the blazing sun would deter anyone from venturing too far from the cool comfort of their thatched huts in this rice-growing area. But for many families whose livelihoods depend on rice farming, braving the ...
Chea Vannak
http://www.khmertimeskh.com/news/29992/bitter-harvest-for-rice-farmers/
Minister confirms purchase of shares in China-led Development Bank
The government will spend $62.3 million to buy 623 shares of the China-led Asian Infrastructure Investment Bank (AIIB), paving the way for it to obtain funds from the Bank for infrastructure development, Minister of Economy and Finance Aun Porn Moniroth confirmed during a meeting at ...
May Kunmakara
http://www.khmertimeskh.com/news/19054/minister-confirms-purchase-of-shares-in-china-led-development-bank/
IDs are not ‘sufficient guarantee’ for loans
Cambodia’s central bank has asked all financial institutions, especially rural lenders, to refrain from accepting personal identity cards, residential records and family books as a guarantee while giving out loans to consumers. ...
Sor Chandara
http://www.phnompenhpost.com/business/ids-are-not-sufficient-guarantee-loans
Royal group seals $10 million loan for Koh Rong project
The Royal Group conglomerate has signed off on a $10 million loan from the Bangkok-based Export-Import Bank of Thailand (EXIM Thailand) for the construction of a five-star hotel and resort in Koh Rong Island. ...
May Kunmakara
http://www.khmertimeskh.com/news/23401/royal-group-seals--10-million-loan-for-koh-rong-project/
Payment card gains traction
MasterCard, the plastic payment-card brand of global financial services firm MasterCard Worldwide, has been present in the Kingdom since 2001, but until recently it was relatively unknown to most Cambodians. However, there are signs its signature debit and credit cards are poised for robust growth ...
Cam McGrath and Hor Kimsay
http://www.phnompenhpost.com/business/payment-card-gains-traction
Maybank introduces mobile banking app to Cambodia
Malayan Banking Bhd (MayBank) has introduced its mobile Banking app in Cambodia that integrates augmented reality capabilities and a QR code reader for customers to easily locate the nearest MayBank branch. ...
The Star Online Team
http://www.thestar.com.my/business/business-news/2016/07/05/maybank-introduces-mobile-banking-app-to-cambodia/
World bank loans prompt credibility questions
The World Bank’s decision earlier this month to resume lending to Cambodia after a five-year moratorium has drawn criticism from development experts. ...
Sok Khemara
http://www.voacambodia.com/a/world-bank-loans-prompt-credibility-questions/3347308.html
Wing makes vehicle payments easy
The Ministry of Public Works and Transport yesterday signed a memorandum of understanding with Wing Limited Specialized Bank to make it easier for the public to pay vehicle registration, inspection and driving license fees. ...
Sum Manet
http://www.khmertimeskh.com/news/26322/wing-makes-vehicle-payments-easy/
PM orders another logo change
Prime Minister Hun Sen yesterday ordered microfinance institute (MFI) Prasac, one of the largest in Cambodia, to change its logo immediately for fear that the public may confuse it as representing the government. ...
Sok Chan
http://www.khmertimeskh.com/news/35753/pm-orders-another-logo-change/
ADB funds solar project
Cambodians will soon have access to more affordable power if the agreement signed on Monday between Electricite Du Cambodge (EDC) and the Asian Development Bank (ADB) to set up a 100 megawatt national solar park programme goes according to plan. ...
May Kunmakara
http://www.khmertimeskh.com/news/39750/adb-funds-solar-project/
World Bank: Cambodia business climate improves
Cambodia continued to improve its business environment over the past year, according to the World Bank’s “Doing Business 2017” report that measures the regulations that enhance business activity and those that constrain it in 190 countries. The World Bank made this assessment despite the Kingdom’s ...
Sum Manet
http://www.khmertimeskh.com/news/31306/world-bank--cambodia-business-climate-improves/
Decline in transfers linked to rice prices
International fund transfers to Cambodia through Acleda Bank, which claims to handle a quarter of all inbound fund transfers to the country, decreased slightly last year as a result of lower rice prices, a Bank executive said yesterday. ...
Hor Kimsay
http://www.phnompenhpost.com/business/decline-transfers-linked-rice-prices
Parliaments share auditing experience
The Cambodian, Laos, and Vietnam parliaments have shared a stage to discuss their expenditure experiences and improve transparency and auditing of public investment in areas such as infrastructure. ...
Sum Manet
http://www.khmertimeskh.com/news/36507/parliaments-share-auditing-experience/
Electricity access is growing, but divide persists
Cambodia has been quickly turning on the lights for more households, but access to electricity remains significantly lower in rural areas than in cities, according to a new report from the World Bank. ...
Matt Surrusco
https://www.cambodiadaily.com/news/electricity-access-is-growing-but-divide-persists-127606/
Official exchange rate launched for yuan, riel
The National Bank of Cambodia (NBC) and the People’s Bank of China in the autonomous Guangxi region of southern China have launched an official yuan-riel exchange rate that allows businesses and individuals to conduct trade settlement activities without using the US dollar as an intermediary ...
Hor Kimsay
http://www.phnompenhpost.com/business/official-exchange-rate-launched-yuan-riel
China order lifts rice imports for 2017
Cambodian rice exports in 2017 increased 17 percent by volume compared to the year before, with exporters pushing to fill orders under China’s expanded import quota while shipments to European markets remained steady, according to Agriculture Ministry figures. ...
Cheng Sokhorng
http://www.phnompenhpost.com/business/china-order-lifts-rice-imports-2017
National economy experiencing robust growth: WB
The bank’s Cambodia Economic Update Report released yesterday said that Cambodia’s real growth of Gross Domestic Product (GDP) is forecast to decelerate to 7 percent in 2019, down from 7.5 percent in 2018. ...
Sok Chan
https://www.khmertimeskh.com/50664637/national-economy-experiencing-robust-growth-wb/
CRF: $200M in emergency loans needed for rice sector
The Cambodia Rice Federation (CRF) has asked the state-owned Rural Development Bank (RDB) to provide $200 million in emergency loans to buy paddy from farmers during the ongoing post-monsoon harvest season as falling prices threaten their livelihoods. ...
Thou Vireak
https://www.phnompenhpost.com/business/crf-200m-emergency-loans-needed-rice-sector
ADB lowers Cambodia’s economic growth to 6.4% in 2012 due to weak global demand
The Asian Development Bank (ADB) slashed Cambodia’s GDP growth to 6.4 percent this year, 0.1 percentage point lower than its April’s forecast of 6.5 percent, according to the Bank’s Outlook 2012 Update released on Wednesday The Bank predicted that Cambodia’s gross domestic product to grow by ...