Evictees Miss Second Season of Rice Farming
Villagers who were evicted by security personnel in order to make way for Tan Bien-Kompong Thom Rubber Company have missed another growing season as they have not been given land original promised by the government. They were original promised one hectare of land each before
Medical imports decline
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
http://www.phnompenhpost.com/index.php/2011080250792/Business/medical-imports-decline.html
Current accounts in control
Cambodia’s current accounts deficit has increased in recent years, but is not yet a cause for concern, according to experts. The Asian Development Bank’s July update showed Cambodia’s current accounts deficit stood at 11 percent of GDP in 2010, and statistics show the trade gap
http://www.phnompenhpost.com/index.php/2011080450869/Business/current-accounts-in-control.html
Cambrew to pay overtime to beer girls on Monday
Cambrew yesterday paid the beer promoters who went on strike in late July to demand that the company abide by an Arbitration Council ruling earlier that month that said it owed the women three years of overtime for working on Sundays. The company, which is
Garment factory back in business after last week’s mass fainting
Three workers at M&V International Manufacturing Ltd’s garment factory in Kampong Chhnang factory fainted yesterday and about 20 others were permitted to stop working for two more days due to poor health, a representative of their union said. Nearly 300 workers fainted at the factory last
Tep Nimol, Don Weinland, P. 5
http://www.phnompenhpost.com/national/garment-factory-back-business-after-last-week%E2%80%99s-mass-fainting
Property Developers Seek Ministry Licenses
Several property developers ave approached the Ministry of Finance to ask for licenses after the ministry warned buyers last month not to purchase housing fro developers who are not licensed to sell their properties. The ministry’s warning, issued Aug 11, identified three local developers that
Officials Move to Bring Unruly Garment Subcontractors in Line
Citing a government investigation that revealed factories colluding with unlicensed subcontractors to use unethical labor sources including prisoners, Minister of Commerce Cham Prasidh has asked the Garment Manufacturers Association in Cambodia to urge adherence to labor law. Rehabilitation programs meant to teach vocational skills such
Shanghai firm leads the way
Shanghai Construction Group has announced it will complete US$700 million in projects in Cambodia over the next five years, highlighting China’s dominant and still-growing presence in the Kingdom.
The company presently oversees nine bridge and road construction projects in the Kingdom, according to government relations officer
http://www.phnompenhpost.com/index.php/2011092051749/Business/shanghai-firm-lead-the-way.html
July's inflation driven by high food prices
Fueled by a rise in food prices, inflation reached 7.1 percent in July compared to the same month last year, according to data released by the National Institute of Statistics
According to the data, the price of meat increased by 16.4 percent in July compared to
SMEs call for better loan rates
The Kingdom’s small and medium enterprises have called on commercial banks and micro-finance institutions to lower interest rates on loans, as insiders have said they hamper SMEs’ potential for growth.
Many Cambodian SMEs are concerned that the high interest rates offered by banks reduce productivity, according
http://www.phnompenhpost.com/index.php/2011092151765/Business/smes-call-for-better-loan-rates.html
CSX trading postponed again until next year
Trading on the Cambodia Securities Exchange will be delayed once again until the beginning of 2012, Minister of Economy and Finance Keat Chhon said yesterday.
He blamed an incomplete regulatory regime and the public’s lack of confidence in the stock market as reasons for the delay,
China’s dam plans don’t hold water with panelists
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
New UN flood numbers grim
The latest United Nations assessment shows that the damage from flooding is far worse than previously thought, according to a report received by the Post late yesterday.
Drawing on data from three ministries as well as the National Committee for Disaster Management (NCDM), the assessment raises
US signs over $65m in aid, but no sign of donor meeting
The government and the US Embassy yesterday signed off on half the nearly $65 million the US is giving Cambodia in aid this year, more than two months after Cambodia cancelled a major meeting with its foreign donors that was scheduled for November.
Held roughly every
S&P downgrades national sovereign debt rating
Ratings agency Standard & Poor’s yesterday lowered Cambodia’s long-term sovereign credit rating by one notch to B due to the country’s continued inability to diversify its economy and increase government spending.
The decision by Standard & Poor’s comes after the agency said in September that constraints
Japanese oil firm plans Cambodian operations
JAPAN Oil, Gas and Metals National Corporation has started preliminary surveying as the sole operator in Cambodia’s Block 17 onshore oil field, a 6,500 square-kilometre area of hilly forest in Kampong Thom, Preah Vihear and Siem Reap provinces, according to an Environmental Impact Assessment (EIA)
Kingdom's 2011 GDP hits 6.9%
Cambodia’s gross domestic product grew 6.9 per cent year-on-year in 2011, and is set to increase to 6.5 per cent this year, according to preliminary projections from the Ministry of Economy and Finance.
Agriculture, which was hit hard by floods last year, climbed 3.3 per cent,
http://www.phnompenhpost.com/index.php/2012012754182/Business/kingdoms-2011-gdp-hits-69.html
Flood-affected poor ‘drowning in debt’
The curse of Cambodia’s 2011 floods continues for those most affected, as they fall deeper into debt from unsustainable cyclical debt practices, a consortium of international NGOs said yesterday.
The consortium of Care, Oxfam, Pact and Catholic Relief Services released the results of their January survey
Workers attack factory
A fourth day of protests by garment workers in Kampong Cham turned unruly yesterday, as nearly 2,000 workers shattered the windows of their factory with stones after briefly blocking National Road 7.
The workers blocked the road for about 10 minutes at 9am, before returning to
http://www.phnompenhpost.com/index.php/2012022454711/National-news/workers-attack-factory.html
Appeal Court Rehears case of $60 Million Embezzlement
The former deputy director general of Anco Groups and his wife yesterday defended themselves against convictions handed down by the Phnom Penh Municipal Court for embezzling nearly $60 million dollars from the firm – owned by CPP Senator and tycoon Kok An – during the
