Economy and commerce
Vietnam's currency drops to limit of trading band for first time
Vietnam’s dong fell to the limit of its current trading band for the first time, reflecting further pressure to weaken after three devaluations already this year. The currency fell as much as 0.07 percent to 22,547 per dollar in Hanoi, diverging from the State Bank of ...
Vietnam's garment exports forecast to top $27 billion
Vietnamese textiles and garment exports will possibly hit US$27.1 billion this year, an increase of more than 10 percent from 2014, local media reported. Local producers shipped $20.63 billion worth of textile and garment products in the first 11 months, up 8.9 percent from the same ...
Violent protests boil over in Bavet
Ongoing protests by striking garment workers in the Svay Rieng province town of Bavet spiralled into “anarchy” on 22 December after protesters pelted police with rocks, aggravating an already volatile situation and spurring national authorities to begin mediation efforts. Two military police were injured in the encounter, ...
Starbucks opens doors in airport
The long-awaited Starbucks coffee chain opened its doors to passengers on 22 December in the Phnom Penh International Airport’s new terminal. Keep reading ...
Laos issues first US$ notes in Thailand
Laos’ Finance Ministry has issued its first US dollar-denominated floating-rate notes in Thailand, worth $182 million (about Bt6.5 billion).The dual-tranche issuance was rated “BBB+” by Tris Rating on December 9. The maturities are 10 and 12 years and the coupons are six-month Libor (London Interbank ...
Mekong area needs $3.8b for projects
The Cuu Long (Mekong) Delta region will need more than VND86.3 trillion (US$3.83 billion) in the 2016-20 period to develop key infrastructure projects to fuel its economic growth, according to the Ministry of Transport. Around VND65 trillion ($2.8 billion) of the total funding will go to ...
Devaluation risk rises in Vietnam
Vietnam’s dong fell toward the brink of its permitted trading range as a ban on interest payments on US dollar deposits held onshore failed to cool speculation the currency is poised for its fourth devaluation in a year. The State Bank of Vietnam cut the dollar ...
Myanmar still behind ASEAN peers in UN report
Despite continuing its positive trend and rise through the ranks, Myanmar remains identified as a country with low human development in the annual United Nations Development Program (UNDP) Human Development Report, released on 16 December. The report – titled Work for Human Development – ranks Myanmar ...
Exports of palm oil up, despite price drop
Exports of crude palm oil from the Mong Reththy Company – the Cambodia’s sole producer of the product – increased 8.1 per cent for the first 11 months this year, compared to the same period in 2014. Mong Reththa, vice chairman of the board of directors at ...
Oil won't affect 2015 budget
Do Hoang Anh Tuan, deputy minister of finance, said reduction in the world crude price to US$36 per barrel in future transactions would not affect budget revenue this year. The budget revenue this year has exceeded the target to reach between VND65 trillion and VND66 trillion ...
