In Brief: Vimpelcom raised to buy
Tuesday, 22 September 2009 15:00 BLOOMBERG
MOSCOW – OAO Vimpelcom, Russia’s second-largest mobile-phone company, was upgraded to “buy” from “neutral” at Bank of America Corp, which increased its price estimate to US$22 from $12. Vimplecom is the majority stakeholder in Sotelco, a Cambodia-based mobile phone company operating under the brand name Beeline and newest of nine operators in the Kingdom following its launch in May. The Moscow-based company's shares closed at $17.95 Friday on the NASDAQ stock exchange in New York after gaining 1.7 percent or $0.30.
In Brief: Red corn demand high
Tuesday, 22 September 2009 15:00 May Kunmakara
A LOCAL agricultural firm owned by the head of the Cambodian Rice Millers Association (CRMA) said Monday that it had exported more than 13,000 tonnes of dried red corn to Vietnam since early August. CRMA President Phou Puy said Vietnamese buyers could not get enough of the crop, which is a popular animal feed. The company has sourced the red variety of corn from Pailin, Battambang and Banteay Meanchey provinces in western Cambodia, he said. It paid farmers about US$0.12 per kilogram and sold dry corn for $183.52 per tonne, or around $0.18 per kilogram.
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