Hours after downgrading Cambodia’s long-term sovereign credit rating, ratings agency Standard & Poor’s said it had also decided to lower the credit rating for Acleda Bank to B from B+, though it maintained its outlook for the Bank as stable. The decision follows a similar decision ...

The International Finance Corporation (IFC), a member of the World Bank Group, has provided a $13 million loan to support a higher education campus for the Acleda Institute of Business that will help raise education standards, enhance students’ employability and encourage sustainable economic growth. ...

While Cambodia’s Moody’s rating is still at the same B2 level as last year, its economic growth has been downgraded two points from 2015, with the international credit rating agency warning that the Kingdom’s rapid pace of credit growth could pose financial stability risks. “The pace ...

The Cambodia Rice Federation (CRF) has submitted a proposal to the government for the setting up of a joint executive financial committee to ensure that the $27 million emergency loan to rice millers to purchase paddy rice from farmers, in a bid to prevent rice ...

Newly-appointed Asian Development Bank’s director for Cambodia Eric Sidgwick said Wednesday that promoting inclusive and environmentally sustainable growth that will help improve the quality of life of Cambodians, especially those who are most vulnerable, are his key focus areas. “This is an exciting time to be ...

Chief Cambodia Specialized Bank, a subsidiary of a Hong Kong-based brokerage firm, will begin operations in Cambodia next month, its management said on Monday. Sokun Chakriya, head of marketing and sales at Chief Cambodia, said the Bank aims to increase access to finance in Cambodia’s agricultural ...

A pilot cashew-peeling factory in Kampong Thom province aims to make business easier for farmers who have traditionally relied upon sending their raw harvest elsewhere for processing. With $130,000 from the Asia Development Bank, the building went up in May on 3,600 square metres in Kampong ...

Phnom Penh’s first solar-powered building looks for all the world like a cube of colored Lego blocks dropped in a factory lot on the city’s industrial outskirts. Covered in some 1,350 solar panels — including large panes of multi-colored solar glass — the three-story building ...

Moody’s Investor Services will review ACLEDA Bank and Cambodian Public Bank (Campu Bank) for potential downgrades, according to a release from the rating agency on Wednesday. But the move comes primarily as a response to the global financial crisis and the rating agency’s attempt to realign sovereign ratings with ...

Loans worth $54.2 million were approved by state-owned Small and Medium Enterprise Bank of Cambodia Plc (SME Bank) for 350 businesses under the Tourism Recovery Co-Financing Scheme (TRCS) as of August 31, 2023. ...

Prime Minister Hun Sen pushed regional unity at the opening ceremony of the ASEAN Summit yesterday, but criticism directed at Cambodia over the South China Sea ensured the dispute remained front and centre. As heavily armed guards lined the streets outside the Peace Palace in Phnom ...

In December, South Korea announced that it planned to import dried mangos from Cambodia and the news was heralded as a sign that the country’s lackluster mango export sector was improving. However, a lack of machinery in the Kingdom has meant that the South Korean ...

All provinces, especially those along the border with Vietnam, will be affected by heavy rain when Typhoon Tembin hits next week. The Ministry of Water Resources and Meteorology announced that Tembin appeared in the Pacific Ocean yesterday and is currently in the Philippines. ...

The Philippines has summoned Cambodia’s ambassador over comments linked to Manila’s territorial row with Beijing. Hos Sereythonh was asked to explain remarks accusing the Philippines and Vietnam of playing “dirty politics” over the issue of Asean and the South China Sea. [H]e did not turn up on ...

The privately-operated International Ship Registry of Cambodia (ISROC), a South Korea-based company that owns the rights to register foreign vessels under the Cambodian flag, told ship owners last year that it was not monitoring their observance of international maritime laws, and that it was their ...

In a first for Phnom Penh, South Korean condominium developer Nury D&C has teamed up with SBI Royal Securities to offer condominium buyers a leaseback arrangement on the remaining condo-miniums and condo-minium blocks for sale at De Castle Royal. The 32-storey De Castle Royal has a ...

The Japanese and South Korean governments yesterday announced millions of dollars in aid to Cambodia for a scholarship program and a number of rural development projects. Minister of Foreign Affairs Hor Namhong and Japanese Ambassador Kumamaru Yuji signed for a $2.85 million grant yesterday to fund ...

Cambodian migrant worker hopefuls have heard murmurs about the poor work conditions in South Korea. However, they remain unfazed – even the recent reports of long hours and abusive employers are doing little to deter their quest to secure better wages abroad. ...

Kep province – On a sunny weekday in Kep, a seaside village about halfway along Cambodia’s coast, the crab market was heaving. Women in straw hats and rubber boots stood knee deep in the surf shouting out prices, periodically darting into the sea to pull writhing ...

Japanese Prime Minister Fumio Kishida met his Cambodian counterpart Hun Sen in Phnom Penh on Sunday and agreed to work together on China’s maritime activities in the South China Sea and North Korean issues. ...