Economy and commerce
A Year On, Cambodia’s Role as Asean Chairman a Bitter Memory
Resentment is still simmering toward Cambodia for its handling of the contentions South China Sea issue last year, which fractured the unity of Asean, analysts from around the region said Thursday. During the first day of a two-day regional conference in Phnom Penh organized by the ...
Hul Reaksmey and Dene-Hern Chen
http://www.cambodiadaily.com/news/a-year-on-cambodias-role-as-asean-chairman-a-bitter-memory-42812/
First hedging deal transacted
ANZ Royal Bank has transacted a landmark commodities hedging deal with a local oil importer, officials at the bank said yesterday. The deal allows the company, whose name ANZ Royal would not disclose, citing confidentiality agreements, to lock in an agreed price for the future sale ...
Daniel de Carteret
http://www.phnompenhpost.com/business/first-hedging-deal-transacted
Parkson's Cambodia expansion seen boosting earnings in the long term
Parkson Holdings Bhd (PHB)’s expansion into Phnom Penh, Cambodia, via its proposed Parkson Mallwould provide it with a steady income stream in the long term, mainly from rental yield, according to Affin Investment Bank. The proposed location of the mall – directly opposite the Phnom Penh International ...
Cambodia's rice exports up 107 pct in 8 months
Cambodia has seen a remarkable rise in the exports of milled rice in the first eight months of the year due to increasing demand on international markets, official figures showed Wednesday. The data, from the single window secretariat for facilitating milled rice exports, recorded that the ...
Xinhuanet News Staf
http://news.xinhuanet.com/english/world/2013-09/18/c_132731824.htm
Cambodia, US Extend Artifacts Trade Agreement
Cambodia and the U.S. have signed an extension to a memorandum of understanding (MoU) that imposes strict import restrictions on artifacts dating from the Bronze Age to the end of the Angkor Empire. Hab Touch, director-general for tangible heritage at the Ministry of Culture and ...
Simon Henderson
https://cambodia.opendevelopmentmekong.net/wp-admin/post.php?post=34061&action=edit&message=1
IBBM Launches Chartered Banker Qualifications In Cambodia
The Institute of Bankers Malaysia (IBBM) has launched the Chartered Banker qualification for the Cambodian banking industry to develop talents in the banking industry in that country. The launch of the Chartered Banker qualifications was officiated today by the National Bank of Cambodia Deputy General ...
Bernama News Staff
http://www.bernama.com.my/bernama/v7/bu/newsbusiness.php?id=978465
EU Under Fire for Policy Linked to Land Grabbing in Cambodia
KAMPONG SPEU PROVINCE— Three years ago, Pao had a farm and a charcoal stove near a stream in a community called Omlaing in western Cambodia. The farm gave her rice, charcoal sales gave her extra income and the nearby forest provided edible and medicinal plants. Pao ...
The Irrawaddy News Magazine Staff
http://www.irrawaddy.org/archives/44202
Tuk-tuks to be solar-powered
Australian green energy company Star 8 has designed a solar-powered tuk-tuk and is in the process of building a factory in Cambodia to make the vehicles, according to a report in Australian newspaper The Age. The vehicles’ makers said the tuk-tuks will cost between A$2,000 (US$1,865) ...
Daniel de Carteret
http://www.phnompenhpost.com/business/tuk-tuks-be-solar-powered
Cambodia reports 1.41 bln USD trade deficit in first eight months
Cambodia has witnessed a trade deficit of 1.41 billion U.S. dollars in the first eight months of the year, according to figures from the Ministry of Commerce on Monday. The country’s total import and export volume was valued at 10.45 billion U.S. dollars during the January-August ...
Xinhuanet News Staff
http://news.xinhuanet.com/english/business/2013-09/16/c_132725537.htm
Barriers block streets, customers
Security barricades and razor-wire installations set up around Phnom Penh yesterday were supposed to maintain order as the opposition Cambodia National Rescue Party kicked off what it promised to be three days of mass protests. But the show of force and control had more of an ...
Post Staff
http://www.phnompenhpost.com/business/barriers-block-streets-customers
Siem Reap hotel gets new owner
Minor Hotel Group Ltd (MHG), a wholly owned subsidiary of Thailand-listed Minor International Public Company Limited (MINT), has acquired majority ownership of Siem Reap-based Sothea Boutique Resort to strengthen MINT’s presence in Southeast Asia. After the $6.4 million deal, the Sothea Resort will be rebranded ...
Post Staff
http://www.phnompenhpost.com/business/siem-reap-hotel-gets-new-owner
Deal sends milled rice to Chinese
State-owned Green Trade Company has signed an agreement with China’s Shandong Meijing Rice Co Ltd to export 100,000 tonnes of Cambodia’s milled rice. The deal was signed between Chinese and Cambodian officials on September 4 at the China-ASEAN summit in the southwest Chinese city of Nanning, ...
May Kunmakara
http://www.phnompenhpost.com/business/deal-sends-milled-rice-chinese
Economy Should Do Well, Despite China Slowdown: Experts
Although China has undergone an unprecedented economic slowdown, Chinese and Cambodian officials believe it will not seriously affect Cambodia’s economy. Over the past nine months, China’s GDP grew slightly above 7 percent, its slowest pace in 13 years, and some economists expect poor performance for the ...
Khoun Theara
http://www.voacambodia.com/content/economy-should-do-well-despite-china-slowdown-experts-cambodia-khmer/1748785.html
Landmark Hopeful of Future Retail Agreements
A 20-story retail and office building development opposite Phnom Penh’s Freedom Park by U.K.-based Hongkong Land Ltd. (HKL) is being built without pre-existing rental agreements, the company’s general manager, Daniel Parkes, said Thursday. Land Management Minister Im Chhun Lim last Friday hosted the groundbreaking of the ...
Alex Willemyns and Hul Reaksmey
http://www.cambodiadaily.com/business/landmark-hopeful-of-future-retail%E2%80%88agreements-42254/
A protest economy emerges
By 10am, Siv Lin, the owner of a mobile food stall facing Phnom Penh’s Freedom Park, had prepared all the rice, pork, eggs and vegetables needed to serve yesterday’s regular lunch crowd. It was a normal day. But on September 7, when thousands of opposition Cambodia ...
Hor Kimsay and Anne Renzenbrink
http://www.phnompenhpost.com/business/protest-economy-emerges
Insurance Sector Sees Growth in First 6 Months
Revenue generated by the country’s insurance firms increased 25 percent to $22 million in the first six months of this year compared to the same period last year, according to data released Tuesday by the General Insurance Association of Cambodia (GIAC). Engineering insurance has become the ...
Hul Reaksmey
http://www.cambodiadaily.com/business/insurance-sector-sees-growth-in%E2%80%88first-6-months-42216/
Tata moves in on agriculture
India-based Tata International Ltd announced yesterday that it would import and distribute its Farmtrac Tractors in Cambodia to profit from the country’s growing agricultural sector. Speaking at the launching ceremony at the Koh Pich exhibition centre, Jitendra Manghinani, country manager of Tata South East Asia (Cambodia), ...
Hor Kimsay
http://www.phnompenhpost.com/business/tata-moves-agriculture
OZ takes Renaissance scrip for cash
OZ Minerals has emerged with 16 per cent of Cambodia-focused Renaissance Minerals after agreeing to push back a deal that could have forced the gold explorer to stump up a $10 million payment on its Okvau deposit in the South-East Asian nation. Renaissance’s purchase of the ...
The West Australian News Staff
http://au.news.yahoo.com/thewest/business/a/-/wa/18874668/oz-takes-renaissance-scrip-for-cash/
Taiwanese bank now owns 70 pct of UCB
Taiwan’s E. Sun Commercial Bank has purchased a 70 per cent stake in Cambodia’s Union Commercial Bank. The deal, planned for months but announced yesterday at a press conference at the Sofitel hotel in Phnom Penh, will bring technology upgrades and more loan capital to the ...
Kimsay Hor
http://www.phnompenhpost.com/business/taiwanese-bank-now-owns-70-pct-ucb
Singapore Invests in New Cambodian Bank
An investment company owned by the Singaporean government is a minority partner in a fully licensed commercial bank set to open later this month in cooperation with Canadia Bank PLC and the country’s postal service, a source familiar with the deal confirmed Tuesday. Fullerton Financial Holdings, ...
Joshua Wilwohl and Hul Reaksmey
http://www.cambodiadaily.com/business/singapore-invests-in-new-cambodian-bank-42137/
Damage control for Dumex
While New Zealand dairy giant Fonterra is working overtime to restore its damaged brand in the wake of a contaminated baby milk scare that triggered a global recall, local distributors whose products included the suspect ingredient are defending their own reputations. Local supplier Dumex Cambodia ...
Daniel de Carteret
http://www.phnompenhpost.com/business/damage-control-dumex
Newspaper threatened over child labour story
A Thai-owned sugar company has threatened legal action against a newspaper that ran a story and video depicting the use of child labour at its Koh Kong province plantation, but advocates on the ground there say the children are indeed used as employees. The Bangkok Post yesterday reported ...
Sean Teehan and Cheang Sokha
http://www.phnompenhpost.com/national/newspaper-threatened-over-child-labour-story
Cambodia's tax revenue up 17 pct in 8 months of 2013
Cambodia’s General Department of Taxation said Monday it had collected 606 million U.S. dollars of tax [sic] in the first eight months of the year, up 17 percent compared with the same period last year. The revenue came from tax on profit, withholding tax, tax on ...
Asean-China Center News Staff
http://www.asean-china-center.org/english/2013-09/10/c_132708061.htm
SBC Bank Signs JCB Card Issuance MOU in Cambodia
Singapore Banking Corporation Ltd. (SBC Bank), a leading commercial bank in Cambodia, signed a memorandum of understanding with JCB International Co., Ltd. (JCBI), the international operations subsidiary of JCB, for the issuance of JCB cards in Cambodia. A ceremony to commemorate the milestone moment was held ...
The Cambodia Herald
http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=YWI4OTU3NmNkYmR#sthash.uvnJElMQ.dpuf