Blackouts tell tale of two cities
It is barely dawn in the quiet suburb of Phnom Penh Thmey, but already the silence has been pierced by the cacophony of generators. On some streets, nearly every household has one of the machines burning through diesel in a bid to fill their basic electricity ...
http://www.phnompenhpost.com/2013032764725/National/blackouts-tell-tale-of-two-cities.html
Water Authority Share Price Hits New Low
The usually static share price of the Phnom Penh Water Supply Authority (PPWSA), still the only company listed on the Cambodia Securities Exchange (CSX), fell Monday to its lowest price since it began trading more than two years ago. At the close of business Monday, the ...
Hul Reaksmey
http://www.cambodiadaily.com/business/water-authority-share-price-hits%E2%80%88new-low-42002/
Beauty Shop Owner Sues CNRP for Vandalism
The owner of a Phnom Penh beauty products shop has filed a complaint against some of the CNRP’s top brass, claiming they incited demonstrators to vandalize her business and caused $200,000-worth of damage on Sunday evening. Chhim Vattey, owner and director of Clinique De Beaute Luxe ...
Khy Sovuthy and Matt Blomberg
http://www.cambodiadaily.com/elections/beauty-shop-owner-sues-cnrp-for-vandalism-42693/
Flood crisis another setback for real estate sector
While the political crisis in the country is still ongoing, Cambodia is now suffering another crisis due to flooding, which has had a big impact on the country’s real estate business. Kim Heang, the President of Khmer Real Estate, said the buying and selling of real ...
Siv Meng
http://www.phnompenhpost.com/real-estate/flood-crisis-another-setback-real-estate-sector
Cambodia’s tourism soars
Cambodia’s tourist arrivals registered a 16.9% growth in September according to the country’s statistics and tourist Information department. The country attracted 283,787 visits compared to 242,747 during the same month in 2012. Released by the Ministry of Tourism, late last week, data showed the percentage ...
Wanwisa Ngamsangchaikit
http://www.ttrweekly.com/site/2013/11/cambodias-tourism-soars/
Cambodia floods hit northwestern prison, 842 prisoners evacuated
Floods have submerged a prison in northwestern Banteay Meanchey province on Thursday, forcing the authorities to evacuate all 842 prisoners to detention centers in other provinces. “The prison is badly inundated and we are moving the prisoners to prisons in neighboring provinces,” Phin Sophal, chief of ...
Global Times News Staff
http://www.globaltimes.cn/content/816874.shtml#.UldsRNKBlxI
A protest economy emerges
By 10am, Siv Lin, the owner of a mobile food stall facing Phnom Penh’s Freedom Park, had prepared all the rice, pork, eggs and vegetables needed to serve yesterday’s regular lunch crowd. It was a normal day. But on September 7, when thousands of opposition Cambodia ...
Hor Kimsay and Anne Renzenbrink
http://www.phnompenhpost.com/business/protest-economy-emerges
Thmey Thmey to hit airwaves, be published in Japanese, French
Thmey Thmey online news and Women’s Radio FM 102 on Thursday announced a partnership that will see journalists from both outlets join forces to create evening news bulletins to be broadcast daily starting Saturday. “Our concept is independent Cambodian news, by Cambodians, for Cambodians, and 102 ...
Matt Blomberg and Ben Sokhean
http://www.cambodiadaily.com/news/thmey-thmey-to-hit-airwaves-be-published-in-japanese-french-53685/
After two men die in hit and run, a passive police response
Phnom Penh’s police force has had almost a week to investigate a fatal hit-and-run on Friday night, when a Range Rover slammed into a motorbike near the Ministry of Commerce, killing two men and seriously injuring another. But local police have not conducted even the most ...
Sek Odom and Alex Consiglio
http://www.cambodiadaily.com/news/after-two-men-die-in-hit-and-run-a-passive-police-response-59952/
Burma, Bangladesh and Cambodia have world's lowest labour costs
Businesses with supply chains and operations in Burma, Bangladesh and Cambodia are benefiting from the world’s lowest labour costs, according to a new global ranking. Risk analytics company Verisk Maplecroft’s Labour Costs Index measures a combination of wages, employment regulations, social security contributions and labor productivity ...
Marino Donati
http://www.supplymanageme
Inflation low in 2012: IMF
The International Monetary Fund (IMF) projected that Cambodia will have a very low inflationary rate to 3.5 per cent this year, which is 0.1 per cent below the goverment’s new revision but 0.5 per cent higher than the Asian Development Bank (ADB). Cambodia’s government in August also revised inflation ...
http://www.phnompenhpost.com/index.php/2012100859161/Business/inflation-low-in-2012-imf.html
Caution: Work Ahead
Émile Coué was a French psychologist who introduced a method of self-improvement based on optimistic autosuggestion. “Every day, in every way, I’m getting better and better,” was his mantra. He died in 1926 and probably never visited Cambodia, but his spirit has been hovering over ...
US Extractive Firms Obliged to Disclose Overseas Payments
The U.S. Securities and Exchange Commission (SEC) has adopted rules that would make it a legal requirement for listed companies operating in the extractive industries and doing business in Cambodia to disclose all major payments they make to the government. The rules, which were adopted in ...
Powerless Phnom Penh Struggles With Hot Season
As air-conditioning units slow to a halt, computers die and the lights go out, the frustration of local business owners and organizations in Phnom Penh is boiling over once again as the annual hot season blackouts have arrived. The 190-megawatt, Chinese-built Kamchay hydropower dam in ...
http://www.cambodiadaily.com/news/powerless-phnom-penh-struggles-with-hot-season-15655/
Mfone’s Licence Revoked; Staff Terminated
The Ministry of Post and Telecommunications has revoked the operating licence of bankrupt phone operator Mfone, which went out of business two months ago, while more than 1,000 employees had their jobs officially terminated yesterday. The revocation of the licence and the mass dismissal of the ...
http://www.cambodiadaily.com/business/mfones-license-revoked-staff-terminated-16474/
Demand for cheap rentals outnumbers supply
The boom in high-rise buildings in Phnom Penh indicates the robust economic growth of the Kingdom, but this trend does not include the lower-end accommodation where most economic migrants to Phnom Penh rent.“Cheap rental accommodation plays a crucial role in providing appropriate settlements to those ...
Sam Sopanharith
http://www.phnompenhpost.com/real-estate/demand-cheap-rentals-outnumbers-supply
Former Manager Admits Stealing $2.3M From Canadia Bank
The former manager of Canadia Bank’s credit section has admitted to stealing $2.3 million from the bank’s accounts, the suspect’s lawyer said Tuesday, in what is one of the largest embezzlement schemes ever undertaken in Cambodia’s nascent banking industry. The testimony from Yeth Sopheaktra, 30, to ...
Eang Mengleng and Colin Meyn
http://www.cambodiadaily.com/news/former-manager-admits-stealing-2-3m-from-canadia-bank-44689/
Increase in Customs Taxes Raises Retail Prices in Cambodia
Customs officers along Cambodia’s border have been instructed to increase their efforts to properly inspect and tax products coming into the country, which has increased the cost of imports and led to a rise in retail prices for a host of goods, government officials, businessmen ...
Aun Pheap and Colin Meyn
http://www.cambodiadaily.com/business/increase-in-customs-taxes-raises-retail-prices-in-cambodia-48461/
Electric car is still on the charger
What happened to Cambodia’s electric car? The short answer is, the wait continues. More than seven months after its owners unveiled the new and improved Angkor EV 2013 to great fanfare, they are chronically short of funding and assembly is taking place in piecemeal fashion. Seang Chan ...
http://www.phnompenhpost.com/business/electric-car-still-charger
Newspaper threatened over child labour story
A Thai-owned sugar company has threatened legal action against a newspaper that ran a story and video depicting the use of child labour at its Koh Kong province plantation, but advocates on the ground there say the children are indeed used as employees. The Bangkok Post yesterday reported ...
Sean Teehan and Cheang Sokha
http://www.phnompenhpost.com/national/newspaper-threatened-over-child-labour-story