World Bank stops funds for Cambodia over evictions

The World Bank said on Tuesday it had stopped providing loans to Cambodia and would not resume lending until the government did something to help hundreds of families facing eviction from land around a lake in the country’s capital, Phnom Penh. “The World Bank’s last ...

http://www.reuters.com/article/2011/08/09/cambodia-worldbank-idUSL3E7J920D20110809

Union makes poisoning claim

More than 70 employees continued to protest in front of a luxury resort in Siem Reap town yesterday, demanding that 18 workers be reinstated after they were allegedly dismissed for attempting to unionise.  Chhey Phi, head of the Angkor Village Resort Workers Union, claimed yesterday ...

http://www.phnompenhpost.com/index.php/2011080550873/National-news/union-makes-poisoning-claim.html

Visitors to Angkor Up 25 Percent in First Six Months

The number of visitors to Siem Reap’s Angkor Archaelogical Park in the first six months of the year increased about 25 percent over the same period last year, according to figures released yesterday by the Apsara Authority, which runs the site. According to the figures, ...

Hotel Staff Fired for Union Creation, Say Rights Group

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 ...

Khy Sovuthy, P 24
http://www.cambodiadaily.com

Bus Company’s Partner Involved in Similar Crash

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 ...

Farmers freed after ‘injustice’

The last of the Chi Kraeng villagers has been freed by the Appeal Court after it upheld their acquittal. The villagers had originally been convicted of forcibly detaining two businessmen over a land dispute involving 475 hectares of rice paddies in Siem Reap in 2009. ...

http://www.phnompenhpost.com/index.php/2011072750665/National-news/farmers-freed-after-injustice.html

Investment accounts open

Several securities firms are opening accounts, even as the first listing on the Cambodia Securities Exchange are not expected until later this year, company officials said yesterday. The CSX was launched on July 11 without any listed firms, though state-owned Telecom Cambodia, Phnom Penh Water Supply ...

http://www.phnompenhpost.com/index.php/2011072850678/Business/investment-accounts-open.html

Cables From Bangkok, Phnom Penh Show Varying Analyses

According to diplomatic cables released by WikiLeaks US officials in Bangkok believed that Prime Minister Hun Sen’s decision to name former Thai premier Thaksin Shinawatra as an economic adviser in 2009 backfired after it increased support of the opposition. The Premier at the time of ...

Machinery Imports Soar Through First Six Months

Sihanoukville Autonomous Port has seen an increase of 520 percent in the amount of construction machinery being imported. According to Chea Sambath, director of the port’s planning and statistics department, the increase is as a result of the increased investment in roads, hydropower dams and ...

Police Prove Mass Fainting at Phnom Penh Garment Factory

70 workers at the Hung Wah Cambodia Garment Mfg. factory have fainted bringing the number of mass fainting in factories over the last year to nine. It is a well known phenomenon in Cambodia with three major spells so far this year. “Excessive hours of ...

Cambodian Air Arrivals Eclipse 2007 Numbers

The number of people arriving in Cambodia through the nation’s airports has passed the 2007 number for the same period, providing proof of recovery from the financial crisis. The levels reached 1.8 million passengers for Siem Reap and Phnom Penh international airports. Traffic through Cambodian ...

Valuers to meet in Siem Reap

Real-estate evaluators from the ASEAN Valuers Association (AVA) have met in Siem Reap in order to improve the industry. The AVA wants to develop the Cambodian real-estate market by assisting developers and investors. Those attending the conference share experience and ideals will offering training to ...

http://www.phnompenhpost.com/index.php/2011072050510/Business/land-pricing-valuers-to-meet-in-siem-reap.html

Nation’s first sea bridge opens

A bridge crossing the sea between Sihanoukville and the island of Koh Puos in Cambodia has officially been opened by Prime Minister Hun Sen. Koh Pous owned by the Russian company Koh Pous (Cambodia) Investment Group is turning the island into a resort known as ...

http://www.phnompenhpost.com/index.php/2011071350355/Business/nations-first-sea-bridge-opens.htm

Expand Property Law for Foreigners, Premier Says

Prime Minister Hun Sen has called for the current law only allowing Cambodians to own property from the ground floor up to be scrapped. Currently foreigners can only buy apartments from the second floor and above. The purpose of the move is to increase foreign ...

Shipments increase at Sihanoukville Port

Shipments of freight through Sihanoukville Autonomous Port have seen a 14 percent growth in the second quarter of the year. The number of units passing through the port has risen by 8.6 percent compared to the same period last year. The majority of the shipments ...

http://www.phnompenhpost.com/index.php/2011071350353/Business/shipments-increase-at-sihanoukville-port.html

Minister’s appeal to listed companies

The opening of the Cambodia Securities Exchange (CSX) was marked by a speech from Minister of Finance Keat Chhon, who urged three state-owned companies to speed up their initial public offerings. No companies, state-owned or otherwise are currently trading on the new market. Telecom Cambodia, ...

http://www.phnompenhpost.com/index.php/Business/lets-get-the-ball-rolling.html

Ly Yong Phat Group Plans $200M Satellite City in Phnom Penh

1,300 hectares of land in Phnom Penh and Kandal province have been privatized and conceded to the LYP Group in order for them to be developed into a satellite city. LYP Group is owned by CPP Senator Ly Yong Phat. Prime Minister Hun Sen signed ...

Vietnam's deep-water links spur Phnom Penh Port growth

Vietnam’s Cai Mep port has contributed to a growth in shipments from the Phnom Penh Autonomous Port this year, Cambodian officials say. The Vietnamese deep-water port, near Ho Chi Minh  City, allows cargo to be transferred to ships travelling to more distant markets such as ...

http://www.phnompenhpost.com/index.php/2011070650213/Business/vietnams-deep-water-links-spur-phnom-penh-port-growth.html

Cambodia to Cooperate with Korean Prosecutors

Following a meeting in Seoul yesterday, Cambodian officials have reportedly decided to cooperate with South Korean prosecutors in the investigation of Busan Savings Bank Group, where shareholders are suspected of illegally financing $365 million worth of investments in Cambodia, according to Yonhap News. Busan’s ...

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