Economy and commerce

After a five-month IPO process steeped in anticipation, Grand Twins International ended its first day on the Cambodia Securities Exchange (CSX) with results many observers found disappointing. GTI shares opened yesterday’s session at 9,700 riel ($2.41), with a ceremonial bell ringing at the CSX’s head office. ...

Prominent tycoon and ruling party senator Ly Yong Phat has now set his sights on the media landscape. Phat, the head of LYP Group, on Friday confirmed plans that he is seeking to set up a television station. The entry of an LYP channel, proposed as part ...

It may not have all the glitter, adrenaline or the iconic tolling bell of Wall Street, but today, the usually deserted Cambodian Stock Exchange (CSX) will be a hive of activity. After first hinting at an initial public offering more than two years ago, garment manufacturer ...

Workers at the Beautiful Spring Footwear factory in Takeo province refused to end a two-day protest on Saturday after management ceded to most of their demands but refused to raise their good-attendance bonus. The factory’s roughly 1,000 workers started protesting outside the building on Friday, two ...

About 400 monks and villagers protested Sunday outside Wat Koh Puthivong pagoda in Phnom Penh’s Sen Sok district to protest what they say is a real estate company’s encroachment onto the pagoda’s land, including an island that monks consider sacred. During the protest, dozens of young ...

In an effort to bring stability back to the country’s embattled but crucial garment industry, the Ministry of Labor has joined forces with the International Labor Organization (ILO) and Swedish clothing giant H&M in a campaign for unions and factories to sign direct agreements to ...

Thailand’s capital market should aim to be a funding base for Cambodia, Laos and Myanmar to gain the full benefit from high growth in the Greater Mekong Subregion and a more integrated region through the Asean Economic Community (AEC), panellists at a Euromoney Conferences forum ...

Residents in the vicinity of Kab Ko market in Phnom Penh’s Chamkarmon district found themselves fumbling in the dark yet again yesterday on the second consecutive day of hours-long power outages. According to locals, electricity to the street failed around noon on Wednesday and was restored ...

Cambodian government officials yesterday appealed to gem and jewellery industry representatives to improve design quality at the opening of the 6th Gem and Jewellery Fair on Koh Pich. Seun Sotha, director of the trade promotion department at the Ministry of Commerce, said while Cambodia’s gemstones are ...

Canadia Bank said on Thursday it was investigating how two fake $100 notes were allegedly given to a customer who cashed a check. The customer, Eam Sopheap, a human resources manager at The Cambodia Daily newspaper, said he received two fake $100 notes from a teller ...

Union officials and the garment sector’s factory association said yesterday they supported a new program meant to enhance relations between employers and employees, but remained sceptical of how effective it would be. In a ceremony yesterday, the Ministry of Labour inaugurated the program, which entails training ...

Italy plans to lobby the European Union to halt duty-free imports of rice from Cambodia to protect local rice growers and millers, an industry source says. In a report Thursday, oryza.com said Italy was preparing to submit a report to Brussels saying that Cambodian rice was ...

Mixed security forces led by Kratie province’s court prosecutor yesterday arrested six people in a huge illegal logging bust, confiscating more than 100 cubic metres of protected luxury-grade timber. The arrests of both Cambodian and Vietnamese nationals were the culmination of a three-day crackdown by prosecutor ...

Two years ago, a ceremony was held in Rovieng district, a remote area in the northern province of Banteay Meanchey, to herald the construction of a major steel plant here. The much-touted plant would make use of iron ore found here. It was to be a ...

Cambodia’s salt production rose sharply at the end of this year’s harvest season thanks to more favourable weather conditions enhancing yields. Salt production in Kampot and Kep provinces – home to Cambodia’s salt fields – reached 147,000 tonnes this year, nearly double the 80,000 tonnes recorded ...

Formation of the National Silk Board (NSB) has been delayed due to a lag in coordinating ministries to create the industry body, according to the spokesman of Ministry of Commerce. The former minister of commerce, Cham Prasidh, said in June last year that he was aiming ...

With the World Cup set to kick off in Brazil today, gamblers in Phnom Penh are preparing to place their bets, while city authorities are warning that unauthorised wagers will not be tolerated. Dara*, a seasoned gambler who regularly bets on football matches, told the Post ...

US credit ratings agency Standard & Poor’s has ranked Cambodia’s economy and creditworthiness as the most vulnerable to the effects of climate change. Of 116 nations measured by S&P as part of a vulnerability index published last month – with a number 1 ranking being the ...

Workers at a Kampot province cement factory began striking yesterday, protesting late payment of their salaries for May. The 224 employees of Cambodia Cement Chakrey Ting Factory in Kampot’s Teuk Chhou district said the company was supposed to pay them at the end of May but ...

Chamroeun Microfinance Limited and Prevoir Kampuchea Micro Life Insurance PLC (PKMI) on Wednesday joined efforts to provide insurance to those on lower incomes. The partnership will provide health insurance to its clients at about $0.51 per month for adults and $0.26 per month for those aged between ...

The fifth edition of a Malaysian trade exhibition kicked off here on Tuesday, aiming to further promote bilateral trade and investment ties, officials said. The three-day event, held at the Diamond Island Exhibition Center, features 62 Malaysian companies from diverse sectors including construction, business services, industrial ...

Bilateral trade between Cambodia and Malaysia increased during the first quarter this year by 17.6 percent compared to the same period last year, a Malaysian official said Tuesday. Trade increased from $89.63 million to $105.4 million, Rasazlan Abdul Rashid, the Malaysian ambassador to Cambodia, told a ...

Lending by Cambodia’s commercial banks rose by 6 percent while deposits grew by 10 percent in the first quarter of this year, a National Bank of Cambodia (NBC)’s report said Tuesday. The report said the country’s 34 commercial banks had lent a total of 7.87 billion ...

Union members of the Ministry of Labour’s Labour Advisory Committee (LAC) will meet on Monday for a garment industry wage discussion focusing on ideas raised at a workshop in April. The invitation from Labour Minister Ith Sam Heng was sent to the seven LAC unions on ...