Economy and commerce

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 ...

The total value of goods imported from Thailand increased more than 14 percent in the first four months of this year compared to the same period last year, according to data released Friday by the Thai Embassy in Phnom Penh. The figures show that the total ...

Cambodia Ministry of Tourism hopes to encourage international tourists to visit coastal areas and ecotourism destinations to take pressure off Siem Reap. The ministry’s marketing & promotion department representative, Hou Sokhom, told TTR Weekly that the country needs to encourage tourists to travel more to other ...

The government’s tax revenue increased for the first five months of the year, but despite recent reforms, the growth rate is at a slower pace than for the corresponding period last year. According to data from General Department of Taxation (GDT) released on Wednesday, the state ...

In December 2011, the managing director of Megagreen Imex Cambodia, Renne Outh, proudly announced that his firm had inked a $21 million deal to be the first to ship Cambodian rice to the Philippines. Nearly two and a half years on, not a single Cambodian grain ...

Cambodia collected 444 million U. S. dollars in tax revenue during the first five months of the year, up 12 percent over the same period last year, said a press statement released by the General Department of Taxation on Wednesday. In May alone, the department ...

The owner of a printing house accused of infringing on the copyright of an author who contracted him was slapped with $12,500 in fines and damages by Phnom Penh Municipal Court yesterday. ...

Nine floors of the 32-storey BKK1 condominium project, Platinum Bay, are now completed and construction is slated to be completed by mid-2017. Platinum Bay is located on Street 282, not far from the soon-to-be-completed De Castle Royal, a part of town that property insiders see as ...

CBRE Cambodia’s latest MarketView report sees strong growth in Cambodia’s international tourism sector, with particularly strong in international arrivals resulting in growth in hotel occupancy rates and durations of stay. According to the May report, international arrivals in 2013 increased 17.5 per cent, to a total ...

Cambodia Angkor Air (CAA) will delay the launch of its planned direct flights to Beijing, Tokyo and Singapore due to unrest in neighbouring countries, the airline said yesterday. Originally slated to open the new routes before the end of the year, tensions in Thailand and Vietnam ...

Sales of the SOHO (small office and home office) component of The Bridge condominium project, which will have 54 floors and will be built with an investment of $300 million, officially launched last week. Sear Rithy, director of World Bridge Land, said he was proud and ...

Laos will push ahead with its ambition to become the “battery of Southeast Asia,” planning a Mekong River dam that has drawn opposition from neighbors and threatens to involve China and the U.S. Four Mekong River nations are scheduled to meet June 26-27 in Thailand to ...

In what looks to be a concerted push into the Southeast Asian energy sector, Japanese import and export conglomerate Marubeni Corporation has acquired a large stake of Cambodia’s power generation infrastructure. In a Tokyo Stock Exchange filing dated June 2, Marubeni announced it had purchased a ...

Being placed on consecutive short-term contracts in Cambodia’s predominantly female-staffed garment sector is forcing many women to choose between a family and a factory job, unionists and rights groups said yesterday. Ken Chenglang, acting president of the National Independent Federation Textile Union of Cambodia, said many ...