Economy and commerce

Union boss grilled on incitement allegation

The president of the Cambodian Confederation of Unions Rong Chhun appeared in Kandal Provincial Court for nearly three hours yesterday, fielding questions stemming from accusations of incitement and defamation, the union boss said. According to Chhun, his appearance was related to a complaint alleging that he had incited ...

http://www.phnompenhpost.com/index.php/2012092858972/National-news/union-boss-faces-charges-for-inciting-strike.html

Million-tonne goal still a challenge

It has been more than two years since the Cambodian government issued a rice export policy in June 2010, aiming to export a million tonnes of milled rice by 2015. However, a shortage of capital to buy unmilled rice, known as “paddy”, together with high ...

http://www.phnompenhpost.com/index.php/Special-Reports/million-tonne-goal-still-a-challenge.html

New ADB-Cambodia director vows to focus on inclusive growth, boosting partnership

Newly-appointed Asian Development Bank’s director for Cambodia Eric Sidgwick said Wednesday that promoting inclusive and environmentally sustainable growth that will help improve the quality of life of Cambodians, especially those who are most vulnerable, are his key focus areas. “This is an exciting time to be ...

http://news.xinhuanet.com/english/business/2012-10/10/c_131897620.htm

Mind the wage gap

Most mornings, garment worker Vicheka buys food from the street vendors outside her factory in Kampong Chhnang province. The beef and pork dishes, she says, have a tendency to give workers a stomach ache – a reputation forged long before Vicheka and her co-workers at ...

http://www.phnompenhpost.com/index.php/2012092858979/National-news/mind-the-wage-gap.html

Stirrings from B Kak developer

After months of inactivity that has fueled questions about the company’s future, Boeung Kak lake developer Shukaku Inc has launched a recruitment drive, calling for at least half a dozen architects, engineers and other employees. When contacted yesterday, Sok Heng Ly, an administrative employee listed in the ...

http://www.phnompenhpost.com/index.php/2012092858978/National-news/boeung-kak-lake-developer-makes-moves.html

Tiger goes terminal, and adds India and Cambodia cities

Tiger Airways reverses its ‘terminal’ thinking at long last in Singapore, and adds new cities in Cambodia and India. .. Tiger Airways is adding Hyderabad, India (tomorrow) and Phnom Penh, Cambodia (next Monday) to its reach only days after shifting up market into Singapore’s main terminal ...

http://blogs.crikey.com.au/planetalking/2012/09/27/tiger-goes-terminal-and-adds-india-and-cambodia-cities/

Foreign tourists to Cambodia likely to reach 3.3 million in 2012: PM

Cambodia is expected to receive 3.3 million foreign tourists this year, a 15 percent rise year-on-year, Prime Minister Hun Sen said Thursday. “The country’s cultural and eco-tourism has seen remarkable development, there is steady growth from year to year,” he said in a message to mark ...

http://news.xinhuanet.com/english/world/2012-09/27/c_131876653.htm

KBank sees potential for bancassurance in Laos, Cambodia

Kasikornbank aims to expand its bancassurance business into neighbouring countries after finding that customers in Laos and Cambodia incur higher medical expenses. Pakorn Partanapat, executive vice president, said that the bank has prepared business plans to cope with the Asean Economic Community (AEC), and bancassurance is ...

http://www.nationmultimedia.com/business/KBank-sees-potential-for-bancassurance-in-Laos-Cam-30191178.html

Cambodia lures foreign investors in Thailand

Cambodia is trying to attract foreign investors with manufacturing bases in neighbouring countries, with promises their factories would be safer from flooding. The Phnom Penh Post reported that Commerce Minister Cham Prasidh is appealing to foreign investors with production bases in neighbouring countries, particularly Thailand, to ...

http://www.bangkokpost.com/news/asia/314346/cambodia-tempts-investors-from-neigbours

Locals Pay Almost Double for iPhone Amid High Demand

Cambodian customers eager to buy Apple Inc.’s newest iPhone are paying almost double the company’s asking price in the U.S., phone vendors in Phnom Penh said yesterday. At about a dozen phone shops near Phnom Penh’s Central Market, vendors were doing a steady trade in the ...

Negotiations Planned to Improve Relations in Garment Sector

Negotiations between the Garment Manufacturers Association in Cambodia (GMAC) and unions over a landmark agreement aimed at reducing strike action will be held on October 3, representatives said yesterday. The original agreement on improving industrial relations in the garment sector was signed in October 2010 by ...

Transport costs remain high

Cambodia’s transport costs remain high compared with those in neighbouring countries, according to a 10-container shipment comparison conducted between Cambodia, Thailand and Vietnam by a Korean-owned company, Pan Continental Freight (PCF). The comparison found Cambodia’s free on board (FOB) costs were US$35 a tonne, whereas Thailand ...

http://www.phnompenhpost.com/index.php/2012092758948/Business/transport-costs-remain-high.html

Looking for a flood of investment

Cambodia’s Commerce Minister Cham Prasidh said foreign investors with production bases in Thailand ought to consider Cambodia for future expansion because of the Kingdom’s greater resistance to floods. Speaking at Phnom Penh Honda’s 20th anniversary yesterday, the Commerce minister said that while Cambodia faces floods each ...

http://www.phnompenhpost.com/index.php/2012092758951/Business/flood-resistance-leverage-for-foreign-investment.html

UN Says Cambodia 'Food Secure' Thanks to Gov't Policies

While the global economic crisis weakened the ability of Cambodian households to purchase food, the government’s focus on agricultural production and other policies have since helped alleviate food insecurity in the country, the U.N. Conference on Trade and Development said in a new report. Between June ...

Cambodia receives $3m grant

Cambodia will receive a grant of US$3.3 million from the World Trade Organisation to support rice milling, silk production and development of the Department of International Cooperation, according to Heng Sovannarith, communication officer for Trade Wide Sector Approach. Sovannarith said the Ministry of Commerce would receive the grant from ...

http://www.phnompenhpost.com/index.php/2012092758950/Business/cambodia-granted-3m-for-development.html

Locked-out toy makers left in lurch over wages

Employees at the First & Main cuddly-toy company arrived at work yesterday expecting to be paid outstanding wages – instead, a notice on the gates told them all equipment inside the Phnom Penh factory would be auctioned off, because the company was closing for good. The ...

http://www.phnompenhpost.com/index.php/2012092758945/National-news/locked-out-toy-makers-left-in-lurch-over-wages.html

China is promoting the yuan for settling trade deals with the Kingdom

Due to the expansion of economic and business activities between Cambodia and China, since early August the Bank of China has been negotiation with National Bank of Cambodia (NBC) on the promotion of business transactions in Chinese yuan. It is part of a larger but quiet ...

More R'kiri Journalists Threatened Amid Illegal Timber Trade

Just two weeks after a journalist’s bludgeoned corpse was discovered in Ratanakkiri province, a human rights group yesterday identified two more recent cases of violence or intimidation against reporters in the northeastern province. The report from Adhoc said the pressure from local journalists has occurred alongside an increase ...

The Week at the CSX - Sept 12-19, 2012

The price of Phnom Penh Water Supply Authority stock over the Sept 12-19 period remained very stable, falling early on from KHR 6,350 (US $1.57) to KHR 6,300 (US $1.56) where it stayed. Trading volumes over the five days varied from around 4200 to 13,600 ...

http://etmcambodia.com

LG looks to introduce Optimus G soon

One of the top three manufacturers of mobile phones for the Cambodian market, LG, is likely to roll out its new flagship product, the Optimus G, by the end of the year. Success in the smartphone market would signal a successful turnaround for LG. Prior ...

http://www.phnompenhpost.com/index.php/2012092758949/Business/lg-optimus-g-coming-soon.html

AOS to extend reach with Cambodia, Singapore offices

MALAYSIA’S leading inbound tour operator Asian Overland Services (AOS) Tours & Travel has unveiled plans to expand regionally to provide customer support for its online B2B portal, aosclick.com, which has been recording double-digit growth since its 2009 launch. Two overseas offices will be established in Cambodia ...

http://ttgasia.com/article.php?article_id=4481

GO Communications snaps up Cambodia's Active Event Management

Malaysia-based GO Communications Group has acquired Active Event Management, one of the leading public relations and events agencies in Cambodia. The 100-per-cent buy-out follows the group’s signing of a partnership agreement with leading Thai PR agency DC Consultants in May. Danai Chanchaochai, CEO of DC Consultants, said ...

http://www.nationmultimedia.com/business/GO-Communications-snaps-up-Cambodias-Active-Event--30191090.html

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