Defiance Greets World Bank's Funding Freeze
Government officials yesterday dismissed the World Bank’s recently revealed decision to freeze funding for new projects in Cambodia to protest a Phnom Penh real estate project that has forced thousand of families out of their homes. A housing rights group closely following the evictions said ...
City Hall Bans Sand Transport Across Both Monivong Bridges
Officials in Phnom Penh’s Meanchey district said yesterday that all transportation of sand across the old and new Preah Monivong bridges has been banned for the duration of the rainy season to protect the road surface and avoid accidents. According to a City Hall announcement ...
Investment in mining operations falls sharply
Guangxi Nonferrous Metal Group invested $21.95 million in the construction of a steel processing plant, the data shows. The Chinese company planned to invest as much as $500 million in Preah Vihear province, China’s state-owned Xinhua news agency reported in November. China’s Xing Yuan Kang Yeak ...
PM gives pro-dolphin decree
Prime Minister Hun Sen on Friday approved a new sub-decree geared toward increased protection of the endangered Mekong river dolphin through a series of fishing and motorised transport restrictions in the Mekong river in Kratie and Stung Treng provinces. The Council of Minister’s sub-decree, obtained on ...
Questions over bonuses
Unions and labour groups fear a solitary sick day could cost garment workers their entire month’s attendance bonuses – about 15 per cent of their base wage – under a new scheme meant to make life easier. The Kingdom’s 600,000 garment and footwear workers will receive ...
http://www.phnompenhpost.com/index.php/2012090558510/National-news/questions-over-bonuses.html
As tourism grows, so do questions about sustainability
While tourism officials are pleased about the healthy growth of tourism in Cambodia, the influx of visitors might not be so healthy for the Kingdom’s main attraction-the temple complex of Angkor Wat near Siem Reap. New figures from the Siem Reap tourist office show that about ...
Cambodia Takes Aim at the Dominant Dollar
PHNOM PENH—In its home country, the Cambodian riel has long played second fiddle to the U.S. dollar—but a new stock exchange and government de-dollarization policies could bolster it in coming years, policy makers and experts say. Dollars change hands with greater frequency than riel in the ...
http://online.wsj.com/article/SB10001424052702303772904577336784184598356.html
Strategy for ventures: convince yourself
One of the two partners who have created Cambodia’s leading food and beverage company, with 22 outlets, says business is not merely about money, but more about finding a need and serving the need. Kouch Sokly says entrepreneurs need to find out what the market needs ...
Book Outlines Best of Both Worlds for Cardamom Mountains
The protectionist bent of conservation groups and the development agenda of the government can come together in Cambodia to create a green economy. That is the message of a new book Conservation International (C.I.) launched yesterday in Phnom Penh, outlining practical options for saving the environment ...
Gov’t Asks Global Fund to Unblock $20 Million Malaria Grant
A Health Ministry official said yesterday the government was still hoping to recoup the last $20 million of a Global Fund grant for fighting malaria that the international charity has held back because of Cambodia’s poor use of fund dollars. Last week, a spokesman for the ...
Firm says gold deposit discovered in Mondolkiri
Renaissance Minerals announced Friday it has discovered a high-grade gold deposit in an area in Mondolkiri province that lies within the Australian firm’s Cambodian Gold Project. The new find is located about 500 meters to the northeast of the company’s Okvau exploration zone. The announcement comes ...
Phnom Penh's Historic Quarter to go to Pedestrian
A new tourist promenade is to open in the heart of Phnom Penh’s old French quarter. Scheduled for a February opening, the tourist walk zone will provide an outdoor leisure area on street 13 that will be closed to cars and motorbikes on weekends from ...
Cambodia Angkor Air expands its international network
For a long time, Cambodia’s national carrier Cambodia Angkor Air (CAA) served only as a feeder carrier to its shareholder Vietnam Airlines. Three lines were then in service on routes linking Phnom Penh to Siem Reap, Phnom Penh-Ho Chi Minh City and finally Siem Reap-HCMC. ...
http://www.traveldailynews.asia/news/article/51485/cambodia-angkor-air-expands-its
Country’s First Life Insurance Firm Enters Market
The first company to offer Cambodians life insurance will launch on May 21, an official at the company said yesterday, though experts said the firm could struggle to make good profits in a market where fraudulent claims and limited customers could become a stumbling block. Cambodia ...
Cambodia, the next setting to a ‘Battle of the Rails’
As Australian operator Toll Royal Railways looks at a possible withdrawal from in Cambodia, a new China-backed company tries to take over and promise to rehabilitate more tracks including Phnom Penh-Saigon Toll Royal Railway won in 2010 a concession to operate and upgrade the Cambodian rail ...
http://www.traveldailynews.asia/news/article/50249/cambodia-the-next-setting-to
Gaming Company Announces Casino in Poipet
Entertainment Gaming Asia Inc. (EGA), announced Monday that it will break ground Thursday on a new $7.5 million Slot Hall casino in Poipet province along the Thai border, EGA said in a statement. The casino will open by the end of the year with 300 gaming ...
Bearing Gifts, Chinese Heads Visit Hun Sen
A delegation of Chinese officials yesterday donated two airplanes and signed an agreement to provide Cambodia with loans for a new hydropower dam in Battambang and the renovation of two national roads. The deals were made during a meeting in Phnom Penh between He Guoqiang, a ...
Dozens of City Offices Privatized
The government last month privatized more than a dozen department and commune offices in some prime locations around Phnom Penh, and will move many of them to Sen Sok district, according to documents and officials. A sub-decree dated June 27 and signed by Prime Minister Hun ...
India Funds Three-Nation Road
$500-million loan from New Delhi to help build 3,200km highway through Myanmar and linking to Thailand The trilateral highway project will allow freight and container trucks to move across the borders from India to Myanmar and Thailand via Chiang Rai and border towns. It will play ...
http://www.nationmultimedia.com/business/India-funds-three-nation-road-30188145.html
Railway Family Payouts Could Be Increased
The government and the Asian Development Bank (ADB) will start drafting a new resettlement plan this month that could improve the compensation on offer for some of the roughly 200 Phnom Penh families losing their homes because of rehabilitation of the country’s railway network in ...