Economists See Growth Potential in Stock Exchange
Cambodia has officially opened a stock exchange, which economists say will provide a chance for the development of the country and job creation. However, they warn that mismanagement of the bourse could also lead to economic woes. “When this stock market goes well, it will ...
Heng Pov’s conviction affirmed by high court
The Supreme Court yesterday upheld the murder convictions of former Phnom Penh Municipal Police chief Heng Pov and three others in the case of the 2003 killing of Phnom Penh Municipal Court judge Sok Sethamoni. Defendants Pov, Ly Rasy, Hang Vutha and Prum Sophearith have been ...
Kim Sarom
http://phnompenhpost.com/national/heng-pov%E2%80%99s-conviction-affirmed-high-court
Central bank pushes use of national currency on anniversary
The National Bank of Cambodia (NBC) marked the 36th anniversary of its reintroduction of the national currency on Sunday, using the event to continue its calls to boost use of the riel in a highly dollarized economy. ...
Kang Sothear
https://www.cambodiadaily.com/news/central-bank-pushes-use-of-national-currency-on-anniversary-110161/
Fake outfits, real time
Two men were sentenced to three years in prison yesterday by Phnom Penh Municipal Court for impersonating a police officer by donning a National Police uniform, complete with a plastic pistol and fake number plate. “After stopping, checking and asking him, we knew he was ...
Buth Reaksmey Kongkea
http://www.phnompenhpost.com/national/fake-outfits-real-time
Central bank mulls its inflation response
Cambodia’s central bank is looking to tighten monetary policy to slow an inflation rate that could hit 8 to 9 percent this year, National Bank of Cambodia Director General and Spokeswoman Nguon Sokha said yesterday. Increases in commodity prices and petroleum has led to rising ...
Cambodian police burn 5.1 tons of fake medicines
About 5.1 tons of counterfeit medicines were burned down on Friday at a dumpsite on the outskirts of capital Phnom Penh by Cambodian economic police. ...
China.org.cn News Staff
http://www.china.org.cn/world/Off_the_Wire/2014-11/28/content_34177271.htm
Cambodian buses in Saigon to be strictly controlled
In the petition to the National Road Administration, Deputy Director of the HCM City Department of Transportation – Mr. Duong Hong Thanh, reported that at the time the Vietnam-Cambodia agreement on land transportation took effect, only 40 cars of each country were allowed to cross ...
http://english.vietnamnet.vn/fms/society/74337/cambodian-buses-in-saigon-to-be-strictly-control.html
Record Bad Medicine Haul
Police seized more than two tonnes of dangerous counterfeit medication on Saturday and arrested a Phnom Penh pharmacy owner in a sting officials say has netted the largest-ever haul of illegal medication in Cambodia. After nine days of surveillance, the Ministry of Interior’s Economic Police unit swooped ...
Central bank takes breather as it reins in rural lenders
Cambodia’s central bank will temporarily suspend its eight-month campaign to bring informal moneylenders into its fold as it lacks the resources to review the mountain of registration applications it has received and needs time to tweak the licensing requirements, a National Bank of Cambodia (NBC) ...
Sor Chandara and Cheng Sokhorng
http://www.phnompenhpost.com/business/central-bank-takes-breather-it-reins-rural-lenders
VimpelCom may sell units in Africa and Asia
Russian giant pulling back to core markets to achieve more rational structure and raise funds for investment Russia’s VimpelCom is considering selling many of its subsidiaries in Africa and Asia to focus on more “mature” markets, according to reports. The Financial Times newspaper says that the operator ...
http://www.rethink-wireless.com/2012/10/30/vimpelcom-sell-units-africa-asia.htm
Orix Investment in Acleda Seen as Exploratory
Orix, a Japanese financial conglomerate, will acquire about $11 million shares in Acleda Bank PLC, Cambodia’s largest bank, by the year’s end, officials announced Wednesday, although industry executives said the investment appears only exploratory and likely won’t make more than a ripple in the banking ...
Joshua Wilwohl
http://www.cambodiadaily.com/business/orix-investment-in-acleda-seen-as-exploratory-46968/
Study finds substandard malaria drugs, but no fakes
A new report suggests counterfeit anti-malarial drugs are far less prevalent in Cambodia than previously thought, but almost a third of the legitimate medicines are of substandard quality. According to the study, published on Monday by the London School of Hygiene and Tropical Medicine, none of ...
Charles Parkinson
http://www.phnompenhpost.com/national/study-finds-substandard-malaria-drugs-no-fakes
Central Bank to put focus on MFIs
“The Microfinance Sector in Cambodia: Opportunities and Risks” is an attempt to get a wider view and deeper insight from various researchers on fostering a robust, stable and sustainable microfinance sector, the National Bank of Cambodia (NBC) said in a statement yesterday. ...
May Kunmakara
http://www.khmertimeskh.com/news/24373/central-bank-to-put-focus-on-mfis/
Confidence at central bank
As volatility strikes Asian markets in anticipation of the US Federal Reserve winding down quantitative easing – the practice of injecting money into the economy – the National Bank of Cambodia says the Kingdom will remain largely insulated thanks to an investment market still in ...
http://www.phnompenhpost.com/2013062566455/Business/confidence-at-central-bank.html
Four arrested in raid targeting fake coffee
Police have warned coffee lovers there could be a couple of bad batches circulating and percolating in Phnom Penh after a raid on a fake coffee enterprise in Sen Sok district’s Khmuonh commune yesterday. officers arrested four men during the joint operation in Banlar Sa Et ...
Pech Sotheary
http://www.phnompenhpost.com/national/four-arrested-raid-targeting-fake-coffee
China's ICBC approved by Cambodia central bank as yuan clearing bank
Industrial and Commercial Bank of China (ICBC), the world’s largest bank by assets, said on Tuesday it has been approved by National Bank of Cambodia as a clearing bank for the Chinese yuan currency in the country. ...
The Business Times News Staff
http://www.businesstimes.com.sg/breaking-news/asia/chinas-icbc-approved-cambodia-central-bank-yuan-clearing-bank-20140325
Malaysia abuse claims drive agency to call for urgent fixes
The agency tasked with investigating abuse by Malaysia’s security forces said that claims of fatal abuse against foreign maids—including Cambodians—at a detention center were untrue, though it said the center where the abuse allegedly occurred was in urgent need of attention. ...
Colin Meyn
https://www.cambodiadaily.com/news/malaysia-abuse-claims-drive-agency-call-urgent-fixes-117260/
Central Bank puts 40B riel up for bid in LPCO
The National Bank of Cambodia (NBC) yesterday held its second Liquidity-Providing Collateralised Operation (LPCO), making 40 billion riel ($9.89 million) available to financial institutions in an auction in which repurchase agreements, or repos, were signed for 8.4 billion riel ($2.07 million). ...
Post Staff
http://www.phnompenhpost.com/business/central-bank-puts-40b-riel-bid-lpco
Central Bank OKs SBC bid
The Taiwanese bank Cathay United, a subsidiary of Cathay Financial Holding and a listed company on the Taiwan Stock Exchange, has purchased a 70 per cent stake in the Cambodia-based Singapore Banking Corporation Ltd (SBC), a central bank official said yesterday. The National Bank of Cambodia ...
Central Bank Halts New Licenses - For Now
Despite receiving applications from banks looking to enter Cambodia’s market, the central bank has said it will offer no more commercial banking licenses as the market already has enough players. The decision appears to follow advice offered by the International Monetary Fund earlier this year that ...