Despite the recent downgrading of two of Cambodia’s major banks by ratings agencies Moody’s and Standard & Poor’s, bankers said yesterday that profits are up, loan portfolios are growing at a fast tick and non-performing loans are shrinking. In Channy, president and CEO of Acleda Bank, ...

Representatives from Cambodia and Thailand yesterday agreed to a 2013 completion date for a railway link from Phnom Penh across the Cambodia-Thailand border crossing at Poipet. Outdated agreements had delayed the project, Thai officials said. Insiders have also said disagreements over cross-border trade have kept the ...

About 177,000 Cambodian men and women were working abroad as of the end of 2010, and about $180 million was remitted to Cambodia from 126,000 migrant workers in Thailand, Malaysia, Japan and South Korea last year, according to a letter written by Prime Minister Hun ...

Cambodian officials yesterday touted the potential for green energy to meet its goal of bringing electricity to 100 percent of households by 2020. The Kingdom was looking to develop solar energy, small-scale hydropower and biomass-fuelled power to meet the target, said Ministry of Industry, Mines and ...

About 60 villagers from Battambang province’s Sampov Loun district gathered in Phnom Penh’s Wat Botum Park yesterday to prtotested against a 4,065-hectare land concession granted to a company for agriculture development. Korng Sokheng, a representative for 1,850 families, said villagers submitted a petition to Prime ...

The National Bank of Cambodia has issued a commercial banking licence to a Taiwanese bank, while another banking licence is pending approval for a Chinese-Cambodian joint venture, central bank Director General and Spokeswoman Ngoun Sokha said yesterday. The central bank had licensed Taiwan’s Mega International ...

Tensions with Thailand led to a 10-percent decline in imports from ASEAN members during the first six months of 2011, though Cambodia’s exports to the bloc nearly doubled, according to officials. Cambodia imported US$810.9 million during the six-month period compared to $904.9 million during the period ...

The latest United Nations assessment shows that the damage from flooding is far worse than previously thought, according to a report received by the Post late yesterday. Drawing on data from three ministries as well as the National Committee for Disaster Management (NCDM), the assessment raises ...

Total government spending in 2012 is set to reach $2.62 billion, an increase of 9 percent on the $2.4 billion the government had budgeted to spend in 2011, according to a copy of the 2012 draft budget law obtained yesterday. As part of the new budget, ...

The Philippine government on October 28 issued a ban on its country’s citizens working in Cambodia only to suspend the ban a week later after Filipinos employed here complained, Philippine Ambassador Noe Wong said yesterday. Cambodia was listed by the Philippines Overseas Employment Administration (POEA) as ...

Cambodia has one of the world’s highest rates of deforestation, ranking ninth among 180 countries in terms of forest loss during the past decade, according to a new study, which said that economic land concessions and illegal logging were the primary cause for the demise ...

The International Labour Organisation’s Better Factories program is seeking funding for a campaign to prevent “future fainting incidents” at the garment factories it monitors, following the release on Friday of the results of its investigation into them, according to a document obtained by the Post. The ...

The inquiry that targeted Hun To, dubbed Operation Illipango, investigated the shipment of heroin into Australia from Cambodia in loads of timber. Hun To, a nephew of Prime Minister Hun Sen, is a powerful and feared figure in Cambodia. He was once considered a close business ...

State-run Electricite du Cambodge (EdC), the main provider of electricity in the country, has appealed to residents of Phnom Penh to reduce electricity use due to a power shortage, an EdC official said yesterday. The company is only able to produce 70 percent of the city’s ...

Approximately 65 percent of the country’s 3,492 registered international and local NGOs are inactive, leaving only about 1,350 active NGOs in the country, according to a report issued yesterday by NGO network Cooperation Committee for Cambodia (CCC). The report, “CSO Contributions to the Development of Cambodia ...

The government has signed off on a proposal to designate more than 9 hectares of land along Phnom Penh’s riverfront as state-private land, opening it up for private investment or long-term leasing. The 9.25-hectare stretch of riverfront from the capital’s Night Market to the Chroy ...

A raft of new laws to boost the local economy is in the pipeline and will be passed before the end of the year, according to a senior public official. Mao Thora, secretary of state at the Ministry of Commerce, told Khmer Times on Tuesday that the E-commerce ...

Due to the rapid growth of the Kingdom’s coastal city of Sihanoukville, the amount of rubbish being produced daily has skyrocketed from just 100 to 200 tonnes per day in 2015 to a staggering 1,000 tonnes today, prompting Preah Sihanouk’s governor to request World Bank ...

Investment in construction in the Kingdom reached a new high during the first nine months of the year, amounting to $6.5 million, according to the latest government report. From January to September, investment in the sector grew by 34.7 percent compared with the same period last ...

The Ministry of Economy and Finance has highlighted three urgent measures to solve infrastructure woes in Preah Sihanouk province, which is facing challenges amid rapid development. The ministry highlighted measures focusing on roads and drainage systems in the province following a meeting with the Cooperation Committee ...