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Cambodia > Finance

Banking sector firms up its foundations

08/08/2017 07:59 | 0 comments

Cambodia's banking sector enjoyed another strong performance last year as the Kingdom’s economy continued to expand, with banking credit moderating, deposits increasing and financial institutions remaining healthy as they further integrate into the global economy, the central bank said in its annual report yesterday.

Cambodia > Finance

Banking sector FDI spikes on new banks and higher caps

02/08/2017 08:17 | 0 comments

Inflows of foreign capital into the Kingdom’s banking sector nearly doubled during the first half of the year as two heavyweight players entered the local market and lending institutions responded to revised minimum capital requirements, a central bank official said yesterday.

Cambodia > Finance

Kingdom, Brunei pen agreement over taxes

28/07/2017 20:17 | 0 comments

Cambodia signed a double taxation agreement (DTA) with Brunei aimed at preventing dual taxation and fiscal evasion, the Ministry of Economy and Finance said yesterday in a press release.

Cambodia > Finance

Fintech could be ‘game changer’

28/07/2017 08:10 | 0 comments

A delegation from China visited Phnom Penh this week to share tips on how Cambodia can increase its financial inclusion and meet the needs of its under-banked population using financial technology, or fintech.

Cambodia > Finance

Tax department rakes in $1.2B in revenue

27/07/2017 07:16 | 0 comments

The General Department of Taxation (GDT) collected a whopping $1.19 billion in tax revenue during the first half of this year, an increase of 32 percent compared to the same period last year, led by a surge of value-added tax (VAT) and profit-tax revenue.

Cambodia > Finance

CMA issues code of conduct for local MFIs

26/07/2017 14:49 | 0 comments

The Cambodia Microfinance Association (CMA) issued an announcement yesterday which further attempts to distance lending institutions from the realm of politics following an aggressive push by the government earlier this year to differentiate microfinance institutions (MFIs) from state-run institutions ahead of the commune elections.

Cambodia > Finance

Government opens $27M emergency fund to corn farmers

26/07/2017 07:41 | 0 comments

The government has officially made $27 million in emergency funds, initially intended for the rice sector, available for struggling corn farmers at a 5 percent annual interest rate to help prop up low market prices and free up liquidity after farmers protested earlier this month, a state official said yesterday.

Cambodia > Finance

IMF urges boost to tax system

26/07/2017 07:39 | 0 comments

Cambodia’s economy continues to perform strongly, but the government will face rising spending pressures that need to be tackled by enhanced revenue collection through more stringent tax measures to contain near-term deficits, the International Monetary Fund (IMF) said yesterday at the conclusion of its annual Article IV consultation.

Cambodia > Finance

US dollar used to curb inflation

25/07/2017 09:27 | 0 comments

Cambodia’s central bank purchased a total of $479.4 million worth of cash during the first half of this year to convert to riel, utilising one of the few tools the National Bank of Cambodia (NBC) has to stabilise the value of the local currency and inject it into circulation, according to the regulator’s latest report.

Cambodia > Finance

IMF tweaks key outlooks, leaves world forecast alone

25/07/2017 09:22 | 0 comments

The International Monetary Fund (IMF) kept its growth forecasts for the world economy unchanged for this year and next while revising its projections on key economies, with forecasts for China and the eurozone upgraded and expectations for US growth dialled back.

 
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