Economy and commerce

Pestech International Bhd’s share price rose 28 sen or 4.47% to RM6.55 today, emerging as the second top gainer across the bourse, after RHB Research upgraded its “take profit” call on the counter to “buy”, following Pestech’s announcement yesterday that it intends to list its ...

Government officials are seeking more investment from German companies, they said yesterday during a meeting with a delegation of executives from the country. ...

The outgoing CEO of ANZ Royal Bank is leaving with a note of caution about the swift growth of lending in Cambodia, while noting that the banking sector had become much more competitive and technologically advanced during his four-year tenure at the helm of one ...

Donaco International Ltd has terminated its junket deal with Macau VIP gaming promoter Heng Sheng Group, saying the arrangement proved too restrictive for the marketing of its flagship Star Vegas Resort and Club in Poipet. ...

Bolstered by a massive construction boom over the last few years, Cambodia now boasts one of the world’s fastest growing economies and was one of the few countries able to meet its Millennium Development Goals. In fact, Cambodia, which has halved its poverty rate in ...

The National Bank of Cambodia is hosting the National Summit on the Development of the Microfinance Sector in Cambodia next month, marking a decade since the government announced that 2006 was the “Year of Microfinance.” ...

The falling price of rice in Asia due to the slowing global economy and intensifying regional competition is taking a toll on Cambodian exporters and farmers even though exports jumped more than 20 percent last month compared to January last year, executives said. ...

Although over half of its rice exports were to China last year, it remains a highly competitive market amongst other rice exporters, namely Thailand, Pakistan, and Cambodia, said Bui Huy Hoang, Vietnam’s commercial counselor in China. ...

Cambodia expects to conclude a Bilateral Investment Treaty (BIT) with the United States within the next month that is set to expand trade and investment between the two countries. ...

Kasikornbank, Thailand’s fourth-largest lender by assets, plans to open its first branch in Phnom Penh by August, according to a report from Nikkei Asian Review. ...

The government will consider suspending its $50 per ton export duty on rubber following lobbying by local producers who say they are operating at a loss due to the sharp fall in global prices for the commodity, Agriculture Ministry secretary of state Eang Sophalleth said ...

Cambodia’s microfinance sector experienced another year of explosive growth, with both lending and deposits surging over 40 per cent in 2015, according to new data by an industry association. ...

Although bilateral trade between India and Cambodia remains low, investors from the subcontinent are eying the market here for its potential as a regional hub for their agricultural, machinery and industrial products, B. Sarkar, executive director of the Engineering Export Promotion Council (EEPC) of India, ...

Government officials are encouraging Japanese investors to channel more funding into the country’s booming construction and property development market, with the Ministry of Land Management, Urban Planning and Construction rolling out the red carpet for them. ...

Since its launch in 2005, ANZ Royal Bank has grown to become one of the top-end banks in Cambodia, and has increased its focus on core areas of e-banking, corporate clients and introducing efficiencies in its operations. ...

A Eurocham business confidence survey has revealed that 81 per cent of respondents – members of the business association – planned to increase investments and expand their operations in the Kingdom, but viewed transparency and the lack of skilled human resources as the major downsides ...

The International Finance Corporation (IFC) will provide a $50 million financing package to Amret Co to help the Cambodian microfinance institution increase lending to smaller businesses, particularly those in the agriculture sector and rural areas, it said in a press release. ...

A former MEC Co. Ltd shareholder was tried in absentia by the Court of Appeals yesterday morning for allegedly defaming his former company and MEC’s chairman, former Cambodian Prime Minister Ung Huot, in 2014, according to a court official. ...

Korean companies have expressed an interest in expanding into Asean, mostly in the high-tech and information technology (IT) sectors. According to a report in the Bangkok Post. ...

Total premiums for general insurance rose 16.4 percent last year to about $61.6 million, from $53 million in 2014, with property, fire, vehicle and medical insurance leading the way, the Insurance Association of Cambodia said yesterday. ...

The International Finance Corporation (IFC) will provide a $50 million syndicated loan to Acleda Bank to boost lending to small and medium enterprises, of which at least half will support women-owned enterprises, it said yesterday. ...

Thailand’s Wave Entertainment Plc will expand its steak restaurant chain to Cambodia next year, according to reports in Thai media. ...

The government of the Southeast Asian kingdom wants to increase the number of Chinese tourists, with Macau investors perceived as a major catch.   ...

Prime Minister Hun Sen yesterday made a direct appeal to businesses in the United States to increase investment in Cambodia, ahead of the US-ASEAN Summit in Sunnylands California, and just days after Deputy Prime Minister Sok An spoke with officials from the US Embassy here ...