Economy and commerce
Acleda adds $40M to expand operations
Cambodia’s largest bank, Acleda Bank, announced yesterday that it was infusing $40 million to add to its current capital of $226 million, as it looks to expand domestic and foreign operations and keep up with the rising demand for credit in the Kingdom. ...
May Kunmakara
http://www.phnompenhpost.com/business/acleda-adds-40m-expand-operations
Financial firms defend validity of investment scheme
A Cambodian company that encouraged clients to pour money into a Hong Kong-based investment firm, which is linked to an alleged ponzi scheme here, on Wednesday held a conference in Phnom Penh to reassure its investors that the scheme is legitimate. ...
Kang Sothear
https://www.cambodiadaily.com/news/financial-firms-defend-validity-of-investment-scheme-86498/
ACMECS countries reiterate commitment to supporting ASEAN community building
Leaders of Ayeyawaddy-Chao Phraya Mekong Economic Cooperation Strategy (ACMECS) incorporating Cambodia, Laos, Myanmar, Thailand and Vietnam reiterated their commitment Tuesday to supporting the ASEAN Community building in 2015 and beyond. ...
The Cambodia Herald News Staff
http://bit.ly/1BC5Ehy
Thailand pushes for more connectivity ahead of AEC
Thailand has made great strides to adjust its rules and regulations to work seamlessly with the ACMECS member nations and their plan of action, Prime Minister Prayut Chan-o-cha said Tuesday. The success of the Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS) grouping was setting the pace for ...
The Cambodia Herald News Staff
http://thecambodiaherald.com/world/thailand-pushes-for-more-connectivity-ahead-of-aec-13182
RTB Technology to refocus on connected devices
RTB Technology, an IT-gadget distributor, is gearing up to cash in on the emerging market for connected devices as it aims to grow revenue this year by 10 per cent to Bt450 million. However, apart from expanding its line of products to cover the two ...
Asina Pornwasin
http://www.nationmultimedia.com/business/RTB-Technology-to-refocus-on-connected-devices-30262946.html
Myanmar hosts summit with Cambodia, Laos and Vietnam
The 7th annual Cambodia-Laos-Vietnam-Myanmar (CLMV) summit took place in Naypyitaw on Monday at the Myanmar International Convention Centre 1. According to a joint statement released at the CLMV summit, the appointees from all participating countries reviewed the progress of projects agreed upon in the previous CLMV ...
The Cambodia Herald News Staff
http://thecambodiaherald.com/cambodia/myanmar-hosts-summit-with-cambodia-laos-and-vietnam-8709
Thai business seeks openings in Cambodia
In anticipation of increasingly adverse export conditions, entrepreneurs from six northeastern provinces of Thailand are trying to strengthen ties with their counterparts here. ...
Naomi-Collett Ritz
http://www.khmertimeskh.com/news/12544/thai-business-seeks-openings-in-cambodia/
Cambodia-China trade to top $5 billion by 2017
Bilateral trade between China and Cambodia will be worth more than $5 billion by 2017, up from $3.75 billion last year, according to estimates made public by the Ministry of Commerce on Monday. ...
Tsz-kwan Ho and Kang Sothear
https://www.cambodiadaily.com/business/cambodia-china-trade-to-top-5-billion-by-2017-86222/
Daimler India exports trucks to Cambodia from Chennai facility
Daimler India Commercial Vehicles Pvt. Ltd. (DICV), a 100 per cent wholly owned subsidiary of Daimler AG, Stuttgart, Germany along with Mitsubishi Fuso Truck and Bus Corporation, Japan (MFTBC), a Daimler Company, started exporting its DICV-made FUSO trucks to Cambodia, making it the 13th market ...
Business Standard News Staff
http://bit.ly/1K93glr
Reporters briefly held for filming at crossing
Two SEATV reporters were allegedly detained for several hours on Saturday by border police officials in Banteay Meanchey after capturing photos and footage of the flow of illegal workers and smuggled goods at the Cambodia-Thailand border checkpoint in Poipet town’s Kbal Koh village. ...
Khouth Sophak Chakrya
http://www.phnompenhpost.com/national/reporters-briefly-held-filming-crossing
Thai entrepreneurs enjoy high street-food sales in Cambodia
This month numerous Thai entrepreneurs came to Sihanoukville, in Cambodia to privately organize a week long Street Food Fair. They were invited to set up along the Sopheak Mongkol road or Happiness Road in the seaside city. The event started on 12th June and ends ...
NNT News Staff
http://thainews.prd.go.th/CenterWeb/NewsEN/NewsDetail?NT01_NewsID=WNFOR5806170010001
PPSEZ shores up land deal prior to CSX listing
Phnom Penh Special Economic Zone, the Kingdom’s most-developed SEZ, says the land deal for its planned SEZ in Poipet will be concluded before PPSEZ lists on Cambodia’s stock exchange. Hiroshi Uematsu, CEO of PPSEZ, said that 53 hectares of land near the Thai border had already ...
Charles Rollet
http://www.phnompenhpost.com/business/ppsez-shores-land-deal-prior-csx-listing
Bangkok Bank returns to Cambodia with opening of Phnom Penh branch
The Phnom Penh branch, which will serve customers from all over Cambodia, is BBL’s 29th international branch and the third in Cambodia of a Thai bank. The bank resumed operations on December 30 as the 45th commercial bank in Cambodia and held the grand opening yesterday. ...
Sucheera Pinijparakarn
http://www.nationmultimedia.com/business/Bangkok-Bank-returns-to-Cambodia-with-opening-of-P-30262367.html
Philippines re-invites bids for 100,000 tons of rice import
The National Food Authority (NFA) of the Philippines has re-invited bids for the remaining 100,000 tons from the June 5 tender, BusinessworldOnline quoted Reuters. The NFA has reportedly invited governments of Thailand, Vietnam and Cambodia, with which the Philippines has bilateral agreements, to send their bids ...
Oryza News Staff
http://oryza.com/22917/philippines-re-invites-bids-100000-tons-rice-import
Police seize 73 tons of illegally imported sugar
Police have seized some 31 tonnes of refined sugar illegally imported from Cambodia, while investigating a rubber farm in the southeastern province of Tay Ninh’s Chau Thanh district. ...
Viet Nam News Staff
http://vietnamnews.vn/society/271758/police-seize-73-tons-of-illegally-imported-sugar.html
Men questioned in ‘fraud’
Takeo provincial police yesterday sent seven men arrested for disturbing the peace – but suspected of fraud – to the provincial court, after they were arrested on Friday in Kiri Vong district’s Kiri Chung Koh commune where they had been trying to persuade people to ...
Kim Sarom
http://www.phnompenhpost.com/national/govt-rebukes-hrw-director
Q1 investments zoom
Recent data for the first quarter show that $2.87 billion was invested in Cambodia during the first three months, a staggering 573 per cent increase from the same period last year, according to data released by the Council for Development of Cambodia on Friday. The Kingdom ...
May Kunmakara
http://www.phnompenhpost.com/business/q1-investments-zoom
Asia-Pacific negotiators end talks without free trade goal
Negotiators from 16 Asia-Pacific countries ended their eighth round of talks to promote a deal that would free up their trade early Sunday, falling short of setting any ambitious goal of eliminating tariffs. ...
The Mainichi Daily News Staff
http://mainichi.jp/english/english/newsselect/news/20150614p2g00m0bu014000c.html
PPWSA profits up three-fold during Q1
Revenue for the state-owned water utilities firm Phnom Penh Water Supply Authority increased 33 per cent for the first three months of 2015, compared to the same period last year, while net profit almost tripled. ...
Charles Rollet
http://www.phnompenhpost.com/business/ppwsa-profits-three-fold-during-q1
NBC, JFSA to extend supervisory support
The National Bank of Cambodia and the Japan Financial Service Agency agreed yesterday to extend their cooperation on sharing experience and expertise in the areas of banking and financial sector supervision in the Kingdom. ...
May Kunmakara
http://www.phnompenhpost.com/business/nbc-jfsa-extend-supervisory-support
Special tax on QIP rolled back
The Ministry of Economy and Finance last week did away with a special tax on imported products that were being used for re-export, after Japanese businesses said that it undermined their status as Qualified Investment Projects. Under the Qualified Investment Projects (QIP) scheme, firms can ...
Charles Rollet
http://www.phnompenhpost.com/business/special-tax-qip-rolled-back
Inflation down as global oil prices ease off
Cambodia experienced low inflation of around 1 per cent over the last three months thanks to a decline in oil prices, according to the latest data from the National Institute of Statistics. Inflation went from 0.8 per cent in January to 1.2 per cent in February, ...
May Kunmakara
http://www.phnompenhpost.com/business/inflation-down-global-oil-prices-ease
Cambodian, Japanese financial bodies sign cooperation deal on bank supervision
The National Bank of Cambodia ( NBC), or the Central Bank, and the Japan Financial Services Agency (JFSA) signed a cooperation agreement on Wednesday, aiming at exchanging experience and expertise in the area of bank supervision, according to a news statement. ...
Beach property prices soar
Land prices behind Ocheateal and Otres beaches have – in some areas – doubled over the last year, surpassing their previous peak in 2008, according to realtors there. ...
Vincent MacIsaac
http://www.khmertimeskh.com/news/12198/beach-property-prices-soar/