The Asian Development Bank (ADB) on Thursday signed up to provide 230 million U.S. dollars to Cambodia for six development projects, aiming at promoting inclusive growth and reducing poverty in Cambodia, according to the Bank’s media statement. The financing agreements were inked between Eric Sidgwick, country ...

Property prices in both in Phnom Penh and the surrounding suburbs have increased around 10 percent in the first half of 2012 as more foreign investors buy up new condominiums and banks provide more housing loans, say real estate experts. After years of flat prices due to weak demand in the wake of ...

Government officials met with more than 200 Phnom Penh families on Friday to lay out the state’s case for ownership of their land and the compensation they can expect when they are evicted from their homes situated along the city’s railway tracks. The $142 million project ...

Credit Suisse, a financial services firm based in Switzerland, has been accused of aiding land grabbing in Cambodia by becoming a major shareholder in Vietnamese rubber giant Hoang Anh Gia Lai (HAGL) Group. In a statement released today, Global Witness (GW), an NGO based in England, ...

Cambodia’s tax department is under-resourced and understaffed, thereby hindering its ability to generate revenue, according to an Asian Development Bank (ADB) analysis released earlier this month. The analysis, which took into account survey results from 22 tax revenue bodies across Asia between 2012 and 2013, paints ...

The Asian Development Bank (ADB) has for the first time admitted to major flaws in its efforts to protect the roughly 4,000 families losing land to a $143 million project it is funding to rehabilitate Cambodia’s dilapidated railway system. On Friday, the ADB said it would ...

Discussions about salaries on the factory floor led worker Channa, 22, to begin feeling jealous of her male counterparts. She learned, through talking with a number of co-workers, that the men working around her were doing the same amount of work as she was, but being ...

A 44-year-old woman was run over and killed by a harvesting machine on Sunday while working on a sugarcane plantation in Kompong Speu province owned by CPP Senator Ly Yong Phat, marking at least the second death on the plantation since December. Y Mom, originally from ...

Villagers from Koh Kong province delivered petitions in Phnom Penh on Friday seeking international intervention in their land dispute with powerful businessman and CPP senator Ly Yong Phat, alleging that his Koh Kong Special Economic Zone (SEZ) was encroaching on their farmland. Five representatives of the ...

The World Bank has debarred Cambodia’s CDW Construction Co Ltd for three years for fraudulent practices relating to the Ketsana Emergency Reconstruction and Rehabilitation Project. Announced in 2010, the $40 million project aimed to restore transport as well as water and sanitation services to the tens ...

The National Assembly’s banking and finance commission decided on Wednesday to summon Leng Peng Long, parliament’s chief administrative official, for questioning over claims of nepotism and alleged spending irregularities including $25,000 spent on a flagpole, the commission’s deputy chairman said. ...

Son Chhay, the deputy chairman of the National Assembly’s banking and finance commission, on Tuesday accused commission chairman Cheam Yeap of deliberately avoiding summoning the chief administrator of the parliament for questioning over alleged gross spending irregularities. ...

The Asian Development Bank has more than halved its forecast for Cambodia’s economic growth this year. It cut the gross domestic product forecast to 1.9 percent from April’s prediction of 4 percent growth. The ADB left next year’s forecast unchanged at 5.5 percent GDP expansion. ...

The Securities Exchange Regulator of Cambodia (SERC) is actively seeking collaboration with relevant ministries and institutions to combat the illicit collection of public funds by unauthorised investors offering high returns. ...

PHNOM PENH–Cambodian analysts believe that the visit of Thai Prime Minister Yingluck Shinawatra to Cambodia on Thursday this week could restore mutual trust and trade and investment relations between the two countries. “From my point of view, the meeting of the two PMs will probably focus ...

The Senate yesterday spent just 90 minutes ratifying the record $2.6 billion budget law for 2012, which will allow the government to borrow up to $1.1 billion from foreign lenders, according to a Senate statement ...

The World Bank is to lend Cambodia $110 million interest-free to restore the key national highway linking Phnom Penh to the country’s only deep-sea port. The loan was approved last week by the Bank’s board of executive directors under the Road Asset Management Project II. ...

Cambodia’s economic health remains strong at about 6 or 7 percent annual growth, but the country needs to harness its young population and invest in training and skills to ensure this trend continues, the World Bank said. ...

The Asian Development Bank’s (ADB) recent US$60 million loan to Cambodia is set to boost the skills and competitiveness of its growing labour force as the country’s economy undergoes a key transition. Driven by garment exports and tourism, Cambodia’s economy grew by an average of ...

The World Bank could approve its first internally funded project in Cambodia in March, according to recently released reports, a move that would effectively end the freeze on new lending the Bank imposed on Cambodia over four years ago. ...