Economy and commerce

Staff of the Angkor Village Hotel and Resort in Siem Reap have begun protested after the owner fired a total of 30 trade union officials and members after the staff joined a union in July. The dispute initially started when the owner of the hotel ...

Kampuchea Angkor Express and Virak Buntham Express Travel, two bus companies that share a fleet of busses and operate services running between Siem Reap, Cambodia and Ho Chi Minh City, Vietnam have both been involved in bus crashes recently. A number of passengers were injured ...

Vattanac Properties Ltd’s president has denied ownership of a building site where construction has damaged the surrounding block of historic French Colonial era buildings. Chhung Leang who is also a cofounder of Vattanac Bank has said that the site is owned by an individual but ...

With prices creeping upward and the central bank looking to take monetary action to fight inflation, the government has suspended the publication of the monthly Consumer Price Index, an official at the Ministry of Pallning said yesterday. Sam Saroeun, deputy director of the statistic department ...

The European Union has said that it has no plans to suspend Cambodia’s duty-free trade access even though there have been concerns over land evictions as a result of economic land concessions. The EU is seeking that human rights are not the cost of trade ...

Seized and then sold wood has apparently been stolen from the Try PHeap Import Export Company which bought the lumber. The wood amounts to approximately 42 cubic meters and is priced at over $37,000. Blame for the theft is being cast everywhere including on the ...

A week after government officials ordered Vattanac Properties to halt work on a construction site causing damage to a string of colonial-era building along Phnom Penh’s SIsowath Quay, representatives from the company arrived at the scene yesterday to inspect the affected buildings. Three Vattanac employees, ...

A joint venture between Yayasan Restu, a Malaysian organization, and the Cambodian Muslim Development Foundation is set to establish a microfinance institution with $1 million in start-up capital. The institution will allow members of Cambodia’s Myslim community to obtain loans necessary to start small businesses. ...

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 exporters ought to make further use of tariff-free entry to the European Union, particularly given loosened regulations governing rule of origin, EU officials said at a trade seminar yesterday. Least Developed Countries such as the Kingdom could export to the EU duty and quota ...

THE supply of pharmaceutical products has outstripped demand, causing a decrease in the value of drug imports during the first half of 2011, experts say. An increase in the number of firms importing pharmaceutical products in 2010 led to this year’s drop, Medical Trust Company ...

ABA Bank has been awarded “Cambodia Retail Bank of the Year” award by this year’s Asia Banking & Finance Retail Banking Awards. With 150 bankers from across Asia on hand to congratulate the winners in Singapore, ABA Bank Deputy Chief Executive Officer Askhat Azhikhanov said ...

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 prices ...

Leaning over the railing on the roof of the Khmeroyal Hotel along Phnom Penh’s Sisowath Quay, 54-year-old scholar and long-time Cambodian resident Oliver de Bernon peered across at his crumbing riverfront apartment yesterday. Residents of the block between streets 178 and 184 on Sisowath Quay ...

The number of visitors arriving in Cambodia in the first six months of this year has increased 13.4 percent to 1,385,029, compared to the same period in 2010, Kong Sophearak, director of the statistics department at the Ministry of Tourism, said yesterday. The largest influx ...

Carlsberg has said it is investigating a strike by Angkor beer promoters, who yesterday vowed to continue in their bid for fair treatment.  More than 30 beer promoters have been striking since last Monday, accusing Angkor brewer Cambrew of refusing to pay overtime despite a ...

Thousands of workers who were sacked after part of the June Textile garment factory burned down in March are finally receiving severance payments and other awards following a ruling from the Arbitration Council. Taing Kisay, an administration assistant at the factory, said yesterday that more ...

Cambodia and Vietnam have agreed to increase the number of vehicles permitted to travel through the Trapeang Sre border gate in Kratie province, aiming to boost cross-border commerce and tourism. The agreement allows 300 vehicles from each country to register to pass freely through the ...

The Kingdom’s growing agricultural sector is leading to more loans and deposits at microfinance institutions. The small-scale lenders also credit the boost in Cambodia’s agro-industry for declining non-performing loans rates. The MFI’s lending totalled $51 million to 4,900 borrowers at the end of June, whiles ...

Cambodia must further integrate with its East Asian neighbours for future economic development, said Minister of Economy and Finance Keat Chhon. The financial crisis highlighted the need to diversify production, and Asia’s markets are ripe for increased Cambodian exports, he said. Speaking at the 7th ...

SMART Mobile yesterday announced the official launch of its 3.75G data service, a key part of the company’s strategy to capture Cambodia’s burgeoning mobile internet market. The firm estimated its 3.75G would allow for data download speeds of up to 21 megabits per second and ...

Police have told beer promoters protesting outside Cambrew Ltd. offices in Phnom Penh to quiet down as their strike goes into the third day. The strikers who promote Angkor Beer are asking that the brewery honor a decision by the Arbitration Council to award them ...

Three villagers who were part of a protest over a land dispute with the Meng Keth Company have been summoned to court for questioning over alleged violence during the protest. The land dispute is over 65 contested hectares of land that was granted to the ...

Mong Reththy, former advisor to Prime Minister Hun Sen has said that investors should use local residents on their land concessions rather than evicting them and hiring outsiders. According to a US diplomatic cable released by WikiLeaks Mr. Reththy is “Hun Sen’s Money Man” and ...