Economy and commerce

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 United States government on Tuesday organized an intellectual property rights (IPR) enforcement workshop for some 50 Cambodian and Lao law enforcement officials. ...

Australia and New Zealand Banking Group Ltd, the country’s third-biggest lender, is keen to exit its holding in Cambodia and will look at wholly owned business models wherever regulations allow. “We got out of a relationship, a small relationship, in Vietnam. We would like to ...

Thai rice millers are lining up to build mills in Cambodia to cash in on imminent regional economic integration, with experts warning Cambodian rice is likely to flood Thailand. An industry source said several millers from Thailand’s central and northeastern regions are preparing to set up ...

A highly controversial, Chinese-backed hydropower project in the Areng Valley could be delayed in favour of mining, should “research” for the dam approved by Phnom Penh in February uncover precious metals or gems. Sinohydro Resources Ltd, a holding company for Sinohydro Group, was granted approval on ...

Three families involved in a bitter land dispute with a powerful land developer in Phnom Penh’s Tuol Kok district on Monday rejected City Hall’s offer of new housing, saying the apartments being offered were far too small. They also said they planned to file a complaint ...

The European Commission (E.C.) will today ban all fish imports from Cambodia, carrying through on its threat made in November to punish the country for failing to show genuine commitment to tackling the global problem of illegal fishing, according to a memo released Friday. The ban, ...

A Chinese developer with a “family-like” relationship to Prime Minister Hun Sen’s bodyguard unit has accelerated construction at its $5 billion resort – ostensibly cancelled by royal decree in 2010 – in a protected national park in Preah Sihanouk province. The 3,300-hectare Golden Silver Gulf resort ...

Employees at the Kampong Speu shoe factory where a ceiling collapse killed two workers last May are headed back to work today after more than a week on strike, but will take their demands to the Arbitration Council. ...

Belarusian Foreign Minister Vladimir Makei is to attend the inauguration of a tractor assembly in Cambodia next week, according to the Belarusian Telegraphic Agency. “There are plans to discuss a wide range of issues of the bilateral agenda with the emphasis on the prospects of ...

Cambodia’s central bank won’t recognise bitcoin as a form of payment, making the Kingdom the latest Asian country to reject the digital currency. National Bank of Cambodia director-general Chea Serey confirmed the regulator’s stance on the issue on Wednesday, citing the absence of any e-commerce law ...

On the shore of Koh Kong province’s Kiri Sakor district overlooking a cluster of islands, a flourishing new golf course lies vacant but for a handful of workers tending its empty greens. The Romanesque hotel behind it, replete with a bold central dome, luxury VIP suites ...

Logging by Vietnamese-owned concessionaire Company 72 has once again spilled the boundaries of its land in Ratanakkiri’s O’Yadav district, this time without paying proper taxes to the Forestry Administration (FA), local forest conservation activist Romas Svang said yesterday. ...

Soft-drinks giant PepsiCo has pledged to take a “zero-tolerance” approach to land grabs by its sugar suppliers. In a statement posted on the company’s website on Tuesday, it said the move came in response to a campaign by Oxfam, which targeted Coca-Cola and PepsiCo. ...

After postponing construction due to the 2008 economic crisis, work on the ambitious Cambodia Plaza is gradually being resumed. The plaza is a mixed development project along Russian Boulevard close to the western end of the 7 January Overpass. Cambodia Plaza project manager Adam Liv said the ...

Phnom Penh’s third overpass, or flyover, bridge is now close to completion, some eight months ahead of schedule, and its planners say it will not only greatly improve traffic congestion in the southwest of the city but will also lead to price increases for property ...

A majority government-owned life insurance company has stopped paying out benefits to policy holders who die while taking part in protests and demonstrations, the company confirmed yesterday. The Cambodian Life Insurance Company – 51 per cent owned by the Ministry of Economy and Finance and 49 ...

Burger King will launch another three restaurants in Cambodia by the end of the year, according to a company official, in a move that will bolster the fast food chain’s share of a market dominated by KFC. Somach Sovary, support manager for Burger King Cambodia, said ...

As villagers in Koh Kong province’s Areng Valley continue to block Sinohydro Corp employees from entering the area where the Stung Cheay Areng dam is planned, conservationists and rights workers have spoken of the havoc it will wreak if it goes ahead. In terms of the ...

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 ...

European Union Trade Commissioner Karel de Gucht said he has no plans to launch an investigation into Cambodia’s much-criticized sugarcane plantations after a meeting with Commerce Minister Sun Chanthol in Phnom Penh on Tuesday. Bottom line: Cambodia’s free trade benefits to Europe are safe for ...

Thousands of workers at the Wing Star Shoes factory demonstrated Tuesday for the second day in a row outside the factory in Kom­pong Speu province after a meeting between union and company officials failed to reach an agreement that would end an ongoing strike, worker ...

Police raided four shops in Phnom Penh’s City Mall yesterday for allegedly selling pirated movies, a move that came a week after mall DVD vendors shut up shop to avoid a planned raid, the details of which were leaked beforehand. Officers conducted yesterday’s raid accompanied ...

The European Union (EU) Trade Commissioner Karel De Gucht started his visit to Cambodia on Tuesday to bolster bilateral trade link. De Gucht held talks with his Cambodian counterpart Sun Chanthol and both sides agreed to further promote bilateral trade relations for mutual benefits, Ken Ratha, ...