Economy and commerce
Banking and financial services
Observe 10 prohibitions or face punishment, finance officials warned
Finance officials are being warned to observe the newly imposed so-called 10-prohibition rule or be subjected to disciplinary measures and punishment under law. Deputy Prime Minister and Minister of Finance Somdy Duangdy on April 10 issued a decision that imposed 10 prohibitions demanding officials follow ...
Banking shows steady growth
Cambodia’s financial sector saw healthy growth last year with increased deposits and profits amid slower credit growth, reflecting sustainable development and increased public confidence in the sector, according to a recently released central bank report. According to the National Bank of Cambodia’s (NBC) annual supervisory ...
BOT urges hedging against currency risk
Bank of Thailand governor Veerathai Santiprabhob on April 19 urged exporters to hedge against volatility in the value of the baht as the country faced the prospect of trade protectionism against the backdrop of tensions on the Korean Peninsula – with “unpredictable” outcomes from the latter. “Geopolitical ...
Asianface director reportedly involved in business fraud in Cambodia
Investors in an allegedly fraudulent scheme offered by the Asian Face company are increasingly concerned after the involvement of its operator in similar activities in his home country were revealed. Currently in police custody in Laos over his Asian Face Company Ltd’s alleged illegal capital ...
Govt warned to manage growing debt
Economists have warned the government needs a long-term strategy for managing its burgeoning debt against obligations while it works on securing more efficient and additional revenue sources. At the moment, Laos requires 1,559 billion kip to meet its budget expenditure following revenue shortfall in the ...
CIMBT sets sights on guiding Bt30 bn debentures
CIMB Thai Bank (CIMBT) is stepping up its push into financial advisory services and expects its corporate clients to issue debentures of up to Bt30 billion this year. The bank is also targeting bank assurance business and aims to |generate first-year premium growth of 15 ...
Meeting discusses anti-corruption efforts
The Central Steering Committee for Anti-Corruption convened a meeting in Hà Nội on April 17 chaired by Party General Secretary Nguyễn Phú Trọng, head of the committee. Members discussed the progress, results, difficulties and obstacles regarding the investigation, prosecution and trial of cases under the supervision of ...
Public debt up 0.5% in February
Thailand’s public debt outstanding as of February 28 was Bt6.09 trillion, up Bt30.58 billion or 0.5 per cent from January 31, while the Japan Credit Rating Agency has maintained Thailand’s credit-rating ceiling at “A+” with “stable” outlook, the Finance Ministry’s Public Debt Management Office reported on ...
MFIs predict lower earnings
With the interest rate cap of 18 percent in full force for all new and restructured microfinance loans after the National Bank of Cambodia issued a populist measure to curb high interest rates, microfinance institutions are starting to give predictions for lower profits this year ...
Cambodia’s microfinance shakeup: in whose interest?
On the river island of Koh Srolav in southern Cambodia, everything changed for the 300 or so families inhabiting the small fishing village about ten years ago, when the sand dredging barges arrived. Operating in the dark of night, they have plundered the Tatai river with ...
