Monday, April 23, 2018
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George Styllis

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CSX Unveils New Trading Tools to Entice Interest

The Cambodia Securities Exchange presented two new trading tools to the public Thursday to speed up transactions and entice greater interest in the country’s lackluster bourse.

Struggling Bank to Merge With Micro-Lender in Industry First

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.

Growth in Tourist Arrivals Slows to 5-Year Low

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.

Cambodia, Singapore Sign Intellectual Property Pact

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.

Hooters Eyes Expansion, Cambodia Branch

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.

Beer Distributors in Row Over Heineken Rights

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.

As Oil Prices Fall, Industry Collusion a Concern

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.

Cambodian Team 2nd in Regional Stock Challenge

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.

Million-Ton Rice Export Goal Remains Elusive

This was meant to be a milestone year for Cambodia’s rice industry, with the government aiming to export 1 million tons by the end of 2015. But the government has revised down its expectations for this year and experts say major hurdles must be overcome if the country is to hit the ambitious target in the years to come.

Japan and Cambodia Sign Aviation Agreement

Cambodia and Japan on Wednesday signed an agreement that would allow the launch of direct scheduled flights between the two countries.

Ministry Sets Record Straight on Mining License

The Ministry of Mines and Energy on Tuesday held a press conference to refute a Radio Free Asia broadcast late last month claiming that the ministry had granted a mineral company a license to mine for gold in Ratanakkiri province before an environmental impact assessment had been completed, com­pany and ministry officials said Wednesday.

Firms Claim Impeded by Nontariff Measures

More than half the companies in Cambodia are being hampered by nontariff measures when trading goods internationally, with exporters most severely affected, according to a report released Friday by the Geneva-based International Trade Center.

Construction on Two Condominiums to Begin in Q1

Cambodia’s growing condominium sector shows no signs of slowing down, with construction on two new condominiums set to begin in the first quarter of this year.

Workers Earning Up to $200 to Avoid Salary Tax

Low-wage workers will be able to earn up to $200 a month before their salary is taxed at the minimum 5 percent rate, raising the tax-free threshold by about $75 from the current $125, according to a notice released Wednesday by the general department of taxation.

Trade Volume Exceeds $18 Billion in 2014

Cambodia’s total trade volume reached $18.1 billion last year, a 13.8 percent increase over $15.9 billion the year before, with the country’s trade deficit widening by more than half a billion dollars, according to the Commerce Ministry and state media.

First Domino’s Pizza to Open by Month’s End

U.S. fast-food giant Domino’s Pizza will open this month in Phnom Penh, with three more outlets set to open this year, according to the managing director of the local firm partnering with the global chain.

Struggling TV3 Asia Channel Looks to Restructure

New television channel TV3 Asia is undergoing a major push to revamp its image and change its content after struggling since its launch six months ago to compete with major local channels, station executives said Monday.

First Cassava Shipment of Major Deal Leaves Port

The first shipment of cassava in a major deal between Chinese biofuel firm Henan Tianguan Group and a Cambodian logistics company left Cambodia on Friday, according to the local firm.

Tonle Sap River Boats Ride Wave of New Year

The annual New Year’s Eve ritual of seeing the night sky lit up by fireworks from a boat is growing more popular in Phnom Penh, where tour companies say they saw a sharp rise in the number of local revelers sailing the Tonle Sap on Wednesday night.

Supermarket Takes Fresh Approach to Christmas

As artificial trees and glittery Christmas trinkets line Phnom Penh’s shop windows, the holiday spirit—and consumerism—is very much alive in the capital this week. But the country’s biggest supermarket rolled out a new product this year: real Christmas trees.

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