Economy and commerce

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 ...

About 400 garment workers arrived for their shifts and monthly pay at Phnom Penh’s Hongkong Yufeng factory Tuesday only to find it shuttered and its owner nowhere to be found, workers’ representatives said. “Today is payday for the workers and since the employer did not have ...

Protesting workers at Ocean Garment factory say they are worried the manufacturer, which has suspended operations for one month, will close altogether. About 20 per cent of Ocean’s 1,300 workers demanding full payment during the break have found work elsewhere, while longtime employees are literally praying ...

For the first time in the event’s 37-year history, Cambodia is to host the annual Pacific Asian Tourism Association Travel Mart (PTM), an annual tourism trade fair organised by the multinational tourism body. So Visothy, director of marketing and information at the Ministry of Tourism, said ...

A private clinic aiming to provide medical care to factory workers in the Phnom Penh Special Economic Zone (SEZ) will open this month, the health centre’s managing director said yesterday. ...

Cambodia’s fledgling stock market is set to receive the second listed company next Monday after operating with a single listed firm for more than two years, officials said Tuesday.     Hong Sok Hour, Chief Executive Officer of the Cambodian Securities Exchange (CSX), said the bourse had approved ...

Private equity firm Leopard Capital announced Monday that it is putting its controlling interest in Cambodian beer company Kingdom Breweries up for sale as part of the fund’s requirement to exit its investments before a 2016 expiry. Leopard Cambodia Fund, an investment fund managed by Leopard ...

Union representatives stormed out of negotiations and continued a strike yesterday when managers at T&K Garment factory said workers would never receive the 2,000 riel ($0.50) daily lunch allowance allegedly promised to them. A week after they walked off the job, T&K workers at Por Sen ...

ANZ Royal Bank and local microfinance institution Hattha Kaksekar Limited (HKL) on Monday entered into the first partnership of its kind in Cambodia in a bid to bring together clients from either side of the financial spectrum. Following the signing of a Memorandum of Understanding at ...

When Cambodia’s most prominent forest activist, Chut Wutty, was gunned down in April 2012, the community network he created to sabotage the rampant deforestation of this vast forest fragmented. The forest patrols that he organised nearly ground to a halt. Without money to fund large-scale expeditions, ...

Fabled luxury car maker Rolls-Royce will soon be marketing its goods in one of the world’s poorest countries: Cambodia. Rolls-Royce Motor Cars announced Monday that it has joined with a Cambodian business partner to open a showroom in the Cambodian capital next month. ...

New Zealand will offer US$3.7 million in aid to Cambodia to support a five-year Angkor Wat preservation project. Accoriding to local media reports, the funding was signed, last week, between Bun Narith, Cambodia’s Apsara Authority and Brent Rapson the first secretary of New Zealand Embassy to ...

Cambodian Prime Minister Hun Sen received a foreign guest at the capital’s Peace Palace on Monday morning, ending rumors that he had suffered a severe stroke. ...

The Cambodian Stock Exchange (CSX) has approved Grand Twins International’s (GTI) final submission of IPO documents and issued an official listing date of June 16. “Cambodia Securities Exchange has a great honor to inform the public that Grand Twins International (Cambodia) Plc is approved to be ...

Amid complaints from union and labour rights officials of illegal firings over the years, Cambodia’s garment factory association is holding a course on the termination process in Preah Sihanouk province today. ...

A Ministry of Labour official yesterday vowed to go after any of his “corrupt” colleagues that deal with the garment and footwear sector, and urged workers to file complaints about substandard working conditions. ...

ORO Financecorp Plc held its official launch on Friday, joining the growing ranks of microfinance institutions in the Kingdom. ORO Financecorp started providing business, agricultural and tractor loans in January with a $4 million capital investment from Seng Enterprise Co Ltd of Cambodia and Creed Asia ...

At Chraing Chamreh wholesale fish market in Phnom Penh’s Russei Keo district, men frantically scoop dark, snake-like Trey Phtok fish out of a huge steel tank and into a wicker basket. The flickering pile of tails and gaping mouths is placed on a scale and weighs ...