News
Go Communications buys out Cambodian agency
Malaysia-based GO Communications Group has acquired 100 percent of a public relations agency in Cambodia as a part of its ambitious plan to control a leading PR network in Southeast Asia, chief executive officer Michael De Kretser said In terms of foreign direct investment in Cambodia, ...
http://www.nationmultimedia.com/business/Go-Communications-buys-out-Cambodian-agency-30189095.html
Cambodia-Vietnam trade nears $2 bn
Trade between Vietnam and Cambodia exceeded US$1.9 billion (Bt60 billion) in the first seven months of this year, the High Quality Vietnamese Goods Business Association said yesterday The news conference coincided with Thursday’s opening of a five-day trade fair promoting high-quality Vietnamese goods and the association’s ...
http://www.nationmultimedia.com/aec/Cambodia-Vietnam-trade-nears-$2-bn-30189110.html
PTT offers $960 mln to buy out Sakari to increase coal assets
Thailand’s top energy company, has offered to buy out Singapore-listed Sakari Resources Ltd for $960 million as the oil and gas firm expands into coal to meet rising regional demand for the fuel On Aug. 13, Sakari announced a joint venture with the Royal Group of ...
http://www.reuters.com/article/2012/08/27/sakari-ptt-idUSL3E8JR02420120827
Mekong dams put millions at risk of hunger
The economic, social and environmental consequences of the construction of dams on the Mekong River could be devastating.. ANU research suggests that millions of people are in danger of going hungry if the dams proceed. Replacing fish as a protein source with alternative food would use ...
http://theconversation.edu.au/mekong-dams-put-millions-at-risk-of-hunger-9087
MRF looks at captive rubber plantation to cut raw material cost
Tyre manufacturer MRF Ltd was looking at acquiring rubber estates to meet the company’s long-term raw material requirements and to bring down costs, a top official said. “We are scouting for acquisitions of estates abroad to meet long-term rubber needs,” said Koshy Varghese, executive vice-president, marketing, ...
ASEAN's newest look for cash
Younger Southeast Asian countries will look for a means of filling the financial gap between poorer mainland ASEAN members and more developed states this week during the 44th ASEAN Economic Ministers Meeting, which kicked off today. At the five-day meeting which Prime Minister Hun Sen was ...
Rocket Internet blames poor tax compliance for pullout
Rocket Internet, the successful German-based internet copycat, says that despite its interest in Cambodia’s e-commerce market, tax issues in the Kingdom had forced it to “reposition” its projects. In July, the company launched an online retail site, saying it planned to invest millions in the country’s ...
Millions of lobsters released into Cambodian waters
In an attempt to replenish the nation’s shellfish stocks, the Fisheries Administration has released seven million young lobsters into Cambodian rivers and the Tonle Sap Lake this year, officials said. Cambodia harvests about 100 tons of wild lobsters annually, although the market demand is for about ...
Supplier of Gap in Spotlight
Workers striking at Ocean Garment factory say they still fear for their safety after being ordered back to work on Friday, where a manager accused of sexual harassment continues to work. More than 2,500 workers at the Phnom Penh factory – which supplies retail giant Gap ...
Hey, waiter!
While tourism numbers in Cambodia are growing rapidly, visitors might increasingly have a hard time finding a restaurant to their liking since the country is experiencing a shortage of qualified personnel, especially waiters and chefs, accordingly to the Cambodia Restaurant Association. “The tourism industry needs at ...
PM gives pro-dolphin decree
Prime Minister Hun Sen on Friday approved a new sub-decree geared toward increased protection of the endangered Mekong river dolphin through a series of fishing and motorised transport restrictions in the Mekong river in Kratie and Stung Treng provinces. The Council of Minister’s sub-decree, obtained on ...
Villagers Dig for Treasure as Gold Fever Hits Takeo Province
a gold rush came to Angkor Borei district over the weekend, with dozens of villagers trying their hand at treasure hunting after word got out that there was gold to be found in the soil of a newly dug road in Prek Phtorl commune. The area ...
Sumimoto Mitsui sins agreement with Acleda
One of Japan’s biggest banks, Sumimoto Mitsui Banking Corporation (SMBC) signed agreement with Acleda Bank to share market data and banking services. The deal will give Japanese investors information on the economy and offer other banking services and is aimed at improving bilateral trade and investment. The deal would ...
Customs to get easier for certified firms
Cambodia’s General Department of Customs and Excise will begin certifying firms it deems trustworthy so that their products will have easier passage across the country’s borders, officials have said. The government is working on a program to provide “authorized economic operators” or “AEO” status on approved ...
Energy mix
At the turnoff of Sihanoukville outside Phnom Penhmetal shop owner Kuch Sareun watches the sparks fly as his emplyees join pieces of steel. This year, he installed a diesel-run generator at his business since the frequent electricity outages were hurting his bottom line. Electricity is ...
Carlsberg promises support
Danish brewer Carlsberg has vowed to improve the working conditions of Angkor and Carlsberg beer promoters in Cambodia as it tries to stamp out coerced workplace drinking. The company announced late last week it had joined forces with the Danish Confederation of Trade Unions (LO) to ...
Date Set for Mam Sonando's Court Hearing
A hearing date has been scheduled next month at the Phnom Penh Municipal Court for Beehive Radio owner Mam Sonando, who has been detained on charges related to insurrection, his lawyer said yesterday. The trial is set for Sept. 11, Mr. Sonando’s lawyer, Sok Sam Oeun, said ...
Provocative Posters Spark Renewed Protests
More than 2,000 garment factory workers protested Saturday and plan to strike today in support of union organizers who face prosecution in court for alleged “incitement” over demonstrations at the plant, a union representative said yesterday. The workers at Ocean Garment factory began demonstrating on Aug. ...
Money machines
The secong Cambodia International Textile and Garment Exhibition from August 17 to 20 aimed to boost the Kingdom’s all-important garment sector by highlighting high-tech machinery which could boost factories’ productivity and bottom lines. Over 2,700 square meters at the Diamond Island Convention and Exhibition Center, the ...
Official Arrested After Blocking Land Program
The former deputy administration director from Kratie province was arrested yesterday, accused of incitement for interfering with the work of student volunteers in Prime Minister Hun Sen’s land-titling project, an official said. Chin Hongsry, 60, is accused of undermining the volunteers by telling the villagers to ...
Sinking feeling on river's edge
About 50 villagers in Kandal province protested yesterday in an attempt to halt the activities of a Vietnamese sand-dredging company, which they said has caused a huge swath of their land to slide into the Mekong River. Residents of Kien Svay district’s Koh Prak village said ...
Stocks Slow as CSX Sees First Day Without Trades
For the first time since the bourse went alive in April, no trading took place on the Cambodian Securities Exchange on Friday. The share price of the bourse’s sole listing, the Phnom Penh Water Supply Authority (PPWSA), remained flat at 6,450 riel ($1.58) at the end ...
Improve yields while the sun shines: NGO
This year’s dry spell could be an opportunity rather than a disaster for farmers, Cambodian Center for Study and Development in Agriculture (CEDAC) officials said yesterday. Although drought has destroyed several thousand hectares of crops in the past two months, Cambodia’s largest agricultural NGO is encouraging farmers to ...