Economy and commerce
Local home loans survive a slowdown
Commercial banks saw strong growth in housing loans last year despite a slowdown in the real estate sector, which could have a knock-on effect and threaten the growth of the country’s services. According to a Ministry of Economy and Finance report released late last month, ...
KrisEnergy to consider selling stake in Block A
Singapore-listed KrisEnergy Ltd is considering selling or farming out a stake in its Cambodia Block A offshore oilfield to ease its debt burden, according to the company’s 2016 year-end report. The oil and gas company posted $237.1 million in net losses for the 2016 fiscal ...
Meat imports rack up $100M tab
Cambodians spent over $100 million on imported meat last year, further widening the gap of domestic supply as local producers failed to capture the lucrative protein market, a government official said on February 23. Lor Reaksmey, spokesman for the Ministry of Agriculture, said Cambodia’s heavy ...
Hot issues debated at cabinet meeting
A number of hot topics ranging from the illegal drug trade, measures to drive economic growth, and infrastructure development were tabled for debate at the monthly cabinet meeting which began on February 23. Chaired by Prime Minister Thongloun Sisoulith, the ordinary meeting for February heard ...
Govt dealing with illegal petrol imports
New requirements for companies seeking to import petroleum to Laos are being reviewed or devised after the government made a decision last month to reduce the number of fuel companies from 22 to five. Those which fail to meet the new requirements will have to ...
Laos, Cambodia enhance longstanding relationship
Laos and Cambodia plan to continue to foster their deep, longstanding and traditional friendship, relations and solidarity. The two countries’ leaders made their intentions clear during a two-day state visit to the Kingdom of Cambodia by President Bounnhang Vorachit. President Bounnhang visited Cambodia from February ...
Energy giant PTT upbeat on Trump's oil pipeline plan revival
U.S. President Donald Trump’s decision to revive plans for the controversial Keystone XL oil pipeline could spur Thai energy giant PTT to resume development of an oil sands project in the Canadian province of Alberta, the state-owned company’s chief executive said Wednesday. Just after taking ...
Peninsula chain adds carefully chosen links in Myanmar, elsewhere
As it expands into Myanmar and Turkey, the operator of the Peninsula hotel chain is sticking with its signature formula of opening in the best of the best locations. The Peninsula Yangon will form a key part of a broader redevelopment project around the historic ...
Mooted Yangon expansion plans revived
Yangon Region Chief Minister U Phyo Min Thein said that the regional government will launch the Yangon New City project in Kyeemyindaing township, but firms involved in the Yangon Southwest New City were not informed about the new plan. A similar plan was initiated by the ...
US$1 billion in fresh investments pledged in Nghe An
Nghe An authorities presented eight investment certificates and signed 15 memorandums on investment with total capital pledges of US$1 billion at a meeting with investors in the north-central province on February 19. This annual event was held by Nghe An in coordination with the Bank ...
