News

Hundreds of workers strike at Bavet bicycle factory

About 1,000 workers at a bicycle factory in the Tai Seng Special Economic Zone went on strike Wednesday for a second day, sources said. The sources said the striking workers at Smart Tech (Cambodia) Co Ltd threw rocks at factory windows and threatened to continue ...

http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=Y2VkYjY5OGIxM2FmNjc1OGQ3MzEzNzgwNGFiZTYw

Cambodia's central bank launches national clearing system

The National Bank of Cambodia (NBC) on Wednesday officially launched the country’s national clearing system in order to increase efficiency and expand clearing and settlement services for inter-bank transactions. A central bank statement said that the central system can clear and settle payment instruments such as ...

http://news.xinhuanet.com/english/world/2012-12/12/c_132036029.htm

Villagers Demand That Power Company Lower Rates

More than 1,000 families in four communes in Kandal province’s Lvea Em district submitted a petition Sunday to local officials demanding that a private electricity company either lower its rates or the commune switch to cheaper state-run power, villagers and commune chiefs said yesterday. ...

http://www.cambodiadaily.com

US Ambassador Seeks to Clarify Need for Debt Repayment

The U.S. ambassador to Cambodia has sought to clear up supposed misinformation about Cambodia’s debt to the U.S., which was racked up during the early 1970s by the U.S.-backed military government of Lon Nol and has become a contentious issue between the country. Cambodia has refused ...

http://www.cambodiadaily.com

Rice Harvest to Yield Growth, Official Says

As Cambodia’s rice harvest gets into full swing, the government said yesterday that it expects this year’s crop to exceed last year’s, despite fears that drought would limit the yield. Minister of Agriculture Chan Sarun said that farmers had already harvested more than 3 million tons ...

http://www.cambodiadaily.com

Crane removed from Gold Tower 42

Last week, the crane on the top of Gold Tower 42 was removed, adding to the sense that the completion of the Korean-owned skyscraper is ultimately a distant hope. The owner of the unfinished skyscraper, sitting at the corner of Sihanouk and Monivong Boulevards entered into ...

http://www.phnompenhpost.com/Real-Estate/crane-removed-from-gold-tower-42.html

Siem Reap hotels oversupplied

Potential real estate investors in Siem Reap are being advised to look towards retail strips rather than hotels, according to Cambodian real estate professionals. Knight Frank’s Cambodia chief, Sunny Soo, said that while the hotel industry is well supplied, the town lacks an organised retail strip. ...

http://www.phnompenhpost.com/Real-Estate/siem-reap-hotels-oversupplied.html

Hun Sen Appeals for Kep's Vines to Be Tamed

Prime Minister Hun Sen appealed yesterday for developers and landowners in Kep City to build fences around their neglected properties to prevent vines from creeping onto the street of the coastal resort. Since much of the land in Kep City is owned by investors who live ...

http://www.cambodiadaily.com

Siam City Cement to enter Cambodia with local partner

Siam City Cement and the Chip Mong Group will co-build a new cement plant in the Toukmeas district of Kampot by 2015 in order to take advantage of the “huge” demand in Cambodia. The plant will cater specifically to the Cambodian market, although they will also ...

http://www.phnompenhpost.com/Business/siam-city-cement-to-enter-kingdom-with-local-partner.html

Alliance to disburse $2 million to buy paddy rice, help exports

The Alliance of Rice Producers Exporters of Cambodia (ARPEC) will release US$2 million after December 15th to its members in nine provinces so they can buy paddy rice before the harvest season ends and stocks been depleted. He said the pay out is being drawn from ...

http://www.phnompenhpost.com/

New solar powered lights for Cambodia

Cambodia’s energy sector acquired a new product yesterday with the introduction of solar powered lights from energy company Total, advancing it toward a longer term solution to meeting the population’s energy needs. An industry player described the products as a nice bridge toward seeing Cambodia supplied with ...

http://www.phnompenhpost.com/Business/new-solar-powered-product-launched.html

Residents seek compensation as homes fall into Tonle Sap

Nineteen families from Svay Pak commune in Russey Keo district protested for a second day Wednesday after their homes fell into the Tonle Sap River. Twenty-four houses along the river have been affected, they said. Although five have already left, the other 19 refuse to accept ...

http://www.thecambodiaherald.com/cambodia/detail/1?page=13&token=MTkwM2U3MjZmN2Y5MWNiNTA0NGQyOTczNmUyZDZk

Idemitsu, Cambodia sign biofuel production deal

Idemitsu Kosan Co. said Monday it has signed a memorandum of understanding with the Cambodian government to promote biofuel production in the Southeast Asian country. The move is part of plans by the Japanese energy firm to produce bioethanol out of cassava, a type of potato, ...

http://www.yomiuri.co.jp/dy/business/T121210003291.htm

China plans to invest $5 billion to develop sea port, eco-tourism, and airport in Cambodia

PHNOM PENH: Chinese Union Group and the government of Cambodia plan to ink MoU of construction of mega-development projects in Koh Kong province, southern part of Cambodia. Environment minister Mok Mareth made the announcement upon arrival from China, where he attended APEC meeting in Tainjin on ...

http://thesoutheastasiaweekly.com/?p=5119

Vietnam Confirms Stake in Sesan Dam Bought by Chinese Firm

A representative of Vietnamese state-owned electricity giant Electricity Vietnam International (EVNI) confirmed yesterday that their stake in a dam project in Stung Treng province has been bought out by their Cambodian and Chinese business counterparts. While Royal Group chairman Kith Meng has maintained that EVNI still ...

http://www.cambodiadaily.com/business/vietnam-confirms-stake-in-sesan-dam-bought-by-chinese-firm-6589/

Families make plea to PM Hun Sen over eviction

Despite a court-ordered land title in their favour, 163 families in Phnom Penh’s Sen Sok district last week watched excavators rip apart their homes at the behest of two district deputy governors. The forced eviction, denounced in a petition delivered on Friday to Prime Minister Hun ...

http://www.phnompenhpost.com/General/families-make-plea-to-pm-hun-sen-over-eviction.html

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