News

Cambodia’s banks should be largely spared the heavy damages already seen in many parts of the Kingdom’s economy, officials said yesterday, though microfinance lenders will feel some impact. Minister of Economy and Finance Keat Chhon last week revised downward the government’s gross domestic products for 2011 ...

Cambodian garment makers are filling orders for the 2012 London Olympics in what insiders say is the first time the country has supplied the Games. ShenZhou International Group Holdings Ltd, one of China’s largest apparel exporters, makes shirts and other sportswear for Adidas that will supply ...

More than 200 residents of Phnom Penh’s Boeung Kak lake gathered outside Phnom Penh Municipal Court yesterday as four villagers who filed complaints after their homes were demolished by real estate developer Shukaku Inc last month responded to summonses for questioning ...

China’s dam-building ambitions and alleged lack of transparency were front and centre yesterday during a roundtable discussion on Mekong River development held in the capital. Representatives from the Chinese embassy defended their country’s record, claiming that China was “eager to participate” in regional cooperation mechanisms. “We aren’t ...

A new lobster-breeding program could generate up to $600 million in revenues over the next five years, according to Nao Thuok, director of the Fisheries Administration at the Ministry of Agriculture Mr Thuok first mentioned the new breeding program at a meeting in Phnom Penh hosted ...

Industrial pollution ‘hot-spots’ have been identified in waterways in Phnom Penh, Kandal and Kompong Cham provinces following a five-month period of research as part of a UN-backed effort to encourage companies to adopt cleaner practices. The hot spots – defined as a source of pollution where ...

Residents involved in a long-running land dispute in Oddar Meanchey province’s Anlong Veng district have been prevented from registering to vote in next year’s commune elections, village representatives said yesterday. The village, Oambel, is not recognized by authorities as it forms part of a conservation area ...

Cambodia is unlikely to meet even half of its 2015 goal to export 1 million tons of milled rice unless export and production costs are greatly reduced and more private investment goes toward the agriculture sector, according to a new World Bank study obtained Monday. The ...

Depending on who you believe, the South China Sea could be the next Persian Gulf due to its untapped oil and gas deposits. It’s also a key shipping lane that the US Navy has guarded for decades. That’s why so many countries are sparring over remote ...

Cambodia firm Overseas Cambodia Investment Corporation yesterday signed a Memorandum of Understanding with a Singapore-based company to develop a high-output rice seed factory in the Kingdom. The cooperation between major investment firm OCIC and agriculture research company Smah Prum Royal International Pte Ltd is set to ...

Although a Thai minister claimed recently that delays in resolving the disputed overlapping claims area with Cambodia would result in an energy crisis, experts said yesterday the statement had been politically motivated. Thai Energy Minister Pichai Naripthaphan said last week Thailand would run out of gas ...

Despite signs that demand is starting to come back to the real estate sector, an oversupply in the market has kept prices for commercial and residential properties in Phnom Penh flat over the past 12 months, according to data from Bonna Realty Group. Prices for commercial ...

Seventy-one out of 89 National Assembly lawmakers yesterday voted to approve the construction of a coal power plant in Preah Sihanouk province by a company run by CPP Senator Lao Meng Khin and his daughter, and licensed the plant to sell electricity to Electricite du ...

About 250 villagers who turned out in Preah Vihear province’s Srayong commune to protest against alleged land-grabbing by rubber firm Siladamich Company yesterday found themselves blocked by company security guards and police, though arrests threatened a day earlier failed to materialise, villagers said. Villager representative Meas ...

As tens of thousands of families continue to struggle with ongoing flooding, delays are still hampering the provision of overseas aid, with some donors holding back on distributing funds. China flew in two planes, laden with supplies worth $8 million, over the weekend and the South ...

Phnom Penh Municipal Court has summoned two residents of the Boeng Kak lake community to appear for questioning today and Wednesday in a defamation lawsuit filed against them by City Hall, a court official said yesterday. The families of the accused have been left out of ...

Despite Prime Minister Hun Sen’s indefinite ban on sending Cambodian maids to Malaysia, two recruitment agencies continued to send maids there yesterday, according to rights group Licadho Recruitment agency Top Manpower put seven recruits on Air Asia flight AK 273 to Kuala Lumpur yesterday morning, while ...

PHNOM PENH: Malaysia expects to minimise its dependence on imports of animal feed and lessen the impact of the global food crisis by 2020 under the reciprocal investment policy, Agriculture and Agro-based Minister Datuk Seri Noh Omar said. One such initiative under the policy was the ...

Cambodian Deputy Prime Minister and Minister of Economy and Finance H.E Keat Chhon said Cambodia Security Exchange (CSX) will begin trading from January 2012. Inaugurated in July, the CSX would be put on hold until next year because some rules and regulations have been being discussed ...

With no restart date in sight more than a year after construction halted on the $240 million Gold Tower 42, investors said yesterday they were forming an association to demand that their deposits be refunded if construction does not resume. Chhin Jintong, who put down a ...

City Hall coordinated the release of 120 tons of rice in cooperation with the state-run Rural Development Bank yesterday to keep prices in the city stable amid reports that vendors were using the current floods to gouge customers. Last week, Prime Minister Hun Sen said the ...

A Malaysian firm on Saturday signed a joint agricultural agreement with property development company Paragon Corporation Cambodia worth a potential US$2 billion in exports of corn, rubber, coffee and other cash crops. Penned by Paragon Corporation Cambodia and Markmore Group Malaysia, the joint development project will ...

Bilateral trade between Cambodia and Thailand increased slightly by 8 per cent during the first eight months of 2011 compared to the same period last year, according to the Thai Embassy’s Foreign Trade Promotion Office (FTPO) statistics obtained by the Post yesterday. The increase in trade ...

Tokyo: The International Monetary Fund has upgraded its outlook on Cambodian GDP growth in 2011 from 6.5 per cent to 6.7 per cent just days after government officials announced a full percentage-point reduction in economic expectations. Stabilisation in the real estate sector, as well as strong increases ...