Economy and commerce

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 ...

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. ...