The Cambodia Securities Exchange (CSX) presented two new trading tools to the public Thursday to speed up transactions and entice greater interest in the country’s lackluster bourse.
From Monday, stock traders will be able to use continuous trading and trading before settlement services.
Microfinance institution Sathapana Ltd. and its majority stakeholder, Maruhan Japan Bank, announced Tuesday that they would merge to form Sathapana Bank in the first consolidation of its kind in an increasingly competitive finance sector.
Sathapana Ltd. CEO Bun Mony, who will also be CEO of the new firm, said that—subject to approval by Cambodia’s central bank—Maruhan and Sathapana will combine their respective assets of $200 million and $350 million.
Growth in tourist arrivals slowed down last year to the lowest rate since the global financial crisis, according to preliminary figures provided by the Ministry of Tourism on Monday.
The number of visitors arriving by all modes of transport reached 4.5 million last year, up just 7 percent from 4.2 million in 2013, according to Kong Sopheareak, director of the statistics department at the Tourism Ministry.
Cambodia and Singapore signed an agreement last week to allow companies and individuals who register their ideas for patent protection in either country to have them recognized by both.
Cham Prasidh, minister of industry and handicrafts, and Tan Yih San, chief executive of the Intellectual Property Office of Singapore (IPOS), signed a memorandum of understanding on Tuesday that will see mutual recognition of patents and industrial designs registered in either country, IPOS said in a press release Friday.
Hooters, the U.S. restaurant franchise famous for its scantily-clad waitresses and chicken wings, has signed an agreement with a Thai firm to open additional branches throughout Asia, including in Cambodia.
In a press release Tuesday, Atlanta-based Hooters of America announced that it had struck a deal with Thailand’s Destination Resorts Co. Ltd. to open 30 outlets across the region.
The official distribution of premium beer Heineken has sparked a dispute between two local companies, with full-page advertisements taken out in local newspapers to publicize the spat.
After Attwood Import Export (AIE) took out a series of ads this month, which reprinted a Commerce Ministry document announcing that Cambodia Brewery Ltd. (CBL) had taken over from AIE as the official local retailer of the Dutch beer, the firm said it had a grievance because it was not consulted over the handover.
The government has urged gasoline companies to pass on the full benefit of declining global oil prices to consumers and avoid price rigging, with average gas prices in the country dropping 6.5 percent over the past 10 days.
According to Ministry of Commerce data, the price of regular-grade gas, which ranged between 3,300 and 4,100 riel per liter Wednesday, fell between 3.5 and 13.2 percent since January 11. Diesel prices fell by between 2.5 and 17.7 percent.
Two Cambodian university students won $8,000 on Monday by placing second in a regional stock trading competition, after making it to the final round of the contest ahead of nearly 2,000 other teams from across Southeast Asia.
After winning Cambodia’s national round of the CIMB Asean Stock Challenge last year, Zaman University’s Lymeng Chhim, 21, and Savannarong Koek, 20, lost out in the finals to a team from HELP University Malaysia, which walked off with the $12,000 top prize.
This was meant to be a milestone year for Cambodia’s rice industry, with the government aiming to export 1 million tons of the country’s staple crop by the end of 2015.
But with milled rice exports reaching just 387,061 tons in 2014, up a mere 2.2 percent from 378,856 tons in 2013, according the Agriculture Ministry, the government has revised down its expectations for this year. And industry experts say major hurdles must be overcome if the country is to hit the ambitious export target in the years to come.
Cambodia and Japan on Wednesday signed an agreement that would allow the launch of direct scheduled flights between the two countries.
The pact was signed at the Ministry of Foreign Affairs in Phnom Penh by Japanese Ambassador Yuji Kumamaru and Mao Havannall, secretary of state at the State Secretariat of Civil Aviation.
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