News

Correspondent banking in retreat, but growing in Asia

While financial inclusion is a top priority for emerging economies, new research suggests more stringent enforcement of anti-money regulations in recent years has resulted in major Western banks disconnecting from these regions, leaving local businesses without access to the international financial system. ...

Cam McGrath
http://www.phnompenhpost.com/business/correspondent-banking-retreat-growing-asia

Confidence at central bank

As volatility strikes Asian markets in anticipation of the US Federal Reserve winding down quantitative easing – the practice of injecting money into the economy – the National Bank of Cambodia says the Kingdom will remain largely insulated thanks to an investment market still in ...

http://www.phnompenhpost.com/2013062566455/Business/confidence-at-central-bank.html

Local banks gain trust: survey

Nearly nine out of 10 Cambodians have confidence in local financial institutions, a trend that stands in sharp contrast to Europe and the US, a poll published last week found. However, industry insiders question the results, as the Kingdom’s financial services are still under-developed. The poll ...

http://www.phnompenhpost.com/2013052765847/Business/local-banks-gain-trust-survey.html

Detained Russian's Company Under Investigation for Fraud

The company of Russian businessman Sergei Polonsky, who is currently being detained by Cambodian authorities after a maritime incident off the coast of Preah Sihanouk province last week, is being investigated by the Russian Interior Ministry for fraud, according to a statement on the ministry’s ...

http://www.cambodiadaily.com/news/detained-russians-company-under-investigation-for-fraud-7333/

World Bank Report Predicts 6.6 Percent Growth

Cambodia’s economy will grow by an average of 7 percent in each of the next five years, the World Bank said yesterday in a report on the country’s economic outlook. In its periodic update on economies in the region, the World Bank predicted gross domestic product ...

http://www.cambodiadaily.com

Kampong Chhnang prices on the rise

Real estate prices in Kampong Chhang province have increased by around 10 per cent over the last 12 months, according to experts. Dith Chana, general manager of VMC Real Estate Cambodia, said that Kampong Chhnang is only 91 kilometres from Phnom Penh, but the development of ...

http://www.phnompenhpost.com/index.php/Real-Estate/kampong-chhnang-prices-on-the-rise.html

Hedging China risks, Japan firms turn to booming SE Asia

Hiroshi Uematsu had a tough start in Cambodia, where he heads an economic zone that aims to attract business from his native Japan. He arrived just before the global financial crisis sent the Asian Economic Minnow’s exports into a tailspin and dried up investment interest. Now, ...

http://www.moneycontrol.com/news/world-news/hedging-china-risks-japan-firms-turn-to-booming-se-asia_778038.html

Property prices jump in the first half of the year

Property prices in both in Phnom Penh and the surrounding suburbs have increased around 10 percent in the first half of 2012 as more foreign investors buy up new condominiums and banks provide more housing loans, say real estate experts. After years of flat prices due to weak demand in the wake of ...

http://www.etmcambodia.com/blog.php?article=492

Varying Degrees of Progress Shown in Development Report

The government has made “remarkable development progress” in successfully guiding the country through the global financial crash of 2008, ensuring economic stability and enabling the government to meet the Cambodian Millennium Development Goal on poverty reduction, Prime Minister Hun Sen said yesterday. Speaking at the launch ...

Food Imports See Big Jump

CAMBODIA’S total food and beverage imports jumped 28 percent year-on-year through June to US$74 million, as domestic demand continued to outpace the Kingdom’s production capacity. The demand comes as Cambodia’s economy regains momentum following the global financial crisis, said officials at the Ministry of Commerce, ...

http://www.phnompenhpost.com/index.php/2011082351201/Business/food-imports-see-big-jump.html

CAMBODIA HOSTED 7TH ASIA ECONOMIC FORUM

Cambodia, on Saturday, hosted the 7th Asia Economic Forum ( AEF) under theme of “The Asian Century in the Making: Achievements, Challenges and Future Trends” while highlighting the majority of the region’s demonstrated remarkable resilience against the global economic and financial crises, while major superpowers ...

http://thesoutheastasiaweekly.com/?p=1305

Banking Sector Sees Strong Growth in 2011

Earnings from two of Cambodia’s banks have shown growth within the sector for the first six months of 2011. Acleda Bank and Cambodian Public Bank Plc, have had their profits rise to $21.7 million and $13.4 million respectively. The banks have grown as a result ...

Property sector recovery highlighted

Cambodia’s property sector is said to be recovering from the global financial crisis according to experts. There has been a 10 percent increase in the number of transactions since 2009 with foreign investment a key aspect of the growth. The formation of anti-corruption laws has ...

http://www.phnompenhpost.com/index.php/2011072650637/Business/property-sector-recovery-highlighted.html

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