Channy: Banking will stay strong, with or without EBA
Association of Banks in Cambodia president In Channy on Tuesday said the Kingdom’s banking sector will remain strong and not be directly affected by the potential suspension of its access to the EU’s “Everything But Arms” (EBA) trade agreement. ...
May Kunmakara
https://www.phnompenhpost.com/business/channy-banking-will-stay-strong-or-without-eba
Inter-ministry committee clears draft access to information bill
The inter-ministry committee finalised its review of the draft bill on access to information on Friday and plans to submit it to the Council of Ministers in January before it is sent to the National Assembly. ...
Voun Dara
https://www.phnompenhpost.com/national/inter-ministry-committee-clears-draft-access-information-bill
PPSP reports strong revenue growth reaching $2M in Q3
The Cambodia Securities Exchange- (CSX-) listed Phnom Penh Special Economic Zone (PPSP) reported strong revenue growth reaching $2 million in the third quarter of this year – up 46.96 per cent from $1.4 million in the third quarter of last year. ...
May Kunmakara
https://www.phnompenhpost.com/business/ppsp-reports-strong-revenue-growth-reaching-2m-q3
250 Evacuated From Homes In Preah Vihear Due to Flood
More than 250 families in Preah Vihear province’s Preah Vihear City were evacuated from their homes yesterday and moved to higher ground due to flooding caused by persistent heavy rains that started last week, the provincial governor said. Preah Vihear Governor Oum Mara siad that the ...
Citibank looks to Cambodia for investment opportunities
Citibank, one of the largest banks in the US, showed stronger interest in Cambodia yesterday when the Bangkok-based Thailand head of the big international bank met with Economy and Finance Minister Kheat Chhon. Mey Vann said Citibank recognized that Cambodia had a good investment climate and incentives ...
ADB lowers Cambodia’s economic growth to 6.4% in 2012 due to weak global demand
The Asian Development Bank (ADB) slashed Cambodia’s GDP growth to 6.4 percent this year, 0.1 percentage point lower than its April’s forecast of 6.5 percent, according to the bank’s Outlook 2012 Update released on Wednesday The bank predicted that Cambodia’s gross domestic product to grow by ...
Wage demands: Workers hit streets in bid for pay rise
More than a thousand garment workers went on strike yesterday morning to demand a minimum wage increase and better working conditions, following the failure of minimum wage negotiations between unions and employers on Monday. Some 600 workers in Kandal province yesterday protested in front of ...
Chut Wutty witness had eyes elsewhere
Another witness to the fatal shooting of prominent environmentalist Chut Wutty and military police officer In Rattana has said he did not see who shot the men after testifying in Koh Kong provincial court yesterday. Puom Ravin, a 37-year-old employee of the logging firm Timbergreen said ...
Authorities Seize Excavators Constructing Illegal Reservoirs
Kompong Thom provincial military police confiscated 29 excavators and arrested four drivers in a four-day operation ending yesterday aimed at stopping the illegal construction of reservoirs around the Tonle Sap lake, officials said. The reservoirs, which are used to retain water for use in dry-season farming, ...
PM insists worries about dam overblown
In February, Son Chhay wrote to the premier urging him to investigate illegal logging outside the legal clearing area slated for the Stung Tatai dam reservoir in Koh Kong province and the environmental destruction that would be wrought by the Stung Cheay Areng dam. In a ...
http://www.phnompenhpost.com/index.php/2012071057322/National-news/worries-about-dam-overblown.html
Borei Keila Land Dispute Residents Pray for Help
Former residents of the Borei Keila community who are embroiled in a land dispute with the Phanimex firm gathered yesterday for prayer service in an appeal to the government to resolve their dispute. The residents claim the company failed to provide replacement housing or land to ...
Cambodia, Thailand to Partner on Border Zone
In an effort to bolster bilateral trade, Commerce Minister Cham Prasidh and his Thai counterpart, Boonsong Teriyapirom, agreed in Bangkok on Sunday to establish a special economic border zone, Thai media reported yesterday. Though it remained unclear when or where the zone would be set up, ...
Cambodian state-owned telecom firm sees 5% revenue drop in H1
The state-owned Telecom Cambodia reported a 5 percent decline in revenues in the first half of this year due to tough competition in the country’s telecommunication industry, company director general Lao Saroeun said Friday. During the January-June period this year, the firm earned a gross revenue ...
http://news.xinhuanet.com/english/business/2012-08/17/c_131792460.htm
Firms Go to Arbitration Over Failed Gold Mining License Deal
Despite touting its Cambodian venture on the Frankfurt Stock Exchange (FSE), a British registered mining firm’s plan to extract gold in Ratanakkiri province stalled and the firm may face legal action over a failed deal to obtain an exploration license. Astra Resources Plc. has also gone ...
IMF: Cambodia’s economy expected to grow 7 pct in 2012
The International Monetary Fund (IMF) predicted Tuesday that Cambodia’s economy could grow as high as 7 percent this year, 0.8 percentage points higher than its April’s forecast of 6.2 percent. Speaking in a meeting with Cambodian Deputy Prime Minister Sok An, IMF’s Chief of Mission to ...
http://www.nzweek.com/world/imf-cambodias-economy-expected-to-grow-7-pct-in-2012-8368/
Firm Compensates Jarai After Ruining Graves
A Vietnamese rubber company in Ratanakkiri province’s O’Yadaw district yesterday agreed to pay $4,000 in compensation to an ethnic Jarai community whose traditional graveyard was bulldozed by the firm last week, local officials said. During a meeting at the Paknhai commune police station, representatives of the ...
To Phnom Penh Relief, Dam Starts Operating
The Kirirom III Hydropower Station in Kompong Speu province started operating last month, providing 18 megawatts of electricity to both Kompong Speu and Phnom Penh, an official at state-owned Electricite du Cambodge said yesterday. The additional power from the $47 million dam will help alleviate Phnom ...
Boeung Kak 13 case shifts to Appeal Court
The case of the 13 imprisoned Boeung Kak women is in the hands of the Appeal Court now, the women’s defence lawyer said yesterday. Lawyer Harm Sunrith said that Phnom Penh Municipal Court had sent the case to the Appeal Court on Tuesday, adding that he ...
Court frees 13 Cambodian land eviction protesters
An appeals court Wednesday ordered the release of 13 women who were jailed for protesting being evicted from their homes without adequate compensation, in a case that had critics had highlighted as an example of injustice. The women cheered in the courtroom, their supporters applauded and ...
Kampot Pepper Demand Sees Production Increase
Growing demand abroad for Kampot pepper has resulted in production levels for the commodity increasing by 22 percent to 22 tons during this year’s harvest, officials said yesterday. Nguon Lay, president of the Kampot Pepper Association, said that the amount of farmland used to cultivate pepper ...