PRASAC, Cambodia’s largest microfinance institution by outstanding loans, planned to become a licensed commercial bank in the Kingdom, company officials said yesterday. The news comes despite calls from insiders and experts – most recently the International Monetary Fund and World Bank – for the National ...

Dramatic new video footage of the January 18 Kratie province land dispute shooting has been released on the internet, depicting TTY rubber company security guards opening fire on a crowd of unarmed villagers. The 48-second video, recorded by a villager on a mobile phone and uploaded ...

The Asian Development Bank (ADB) is taking over from the World Bank as lead foreign donor in Cambodia following the departure of the World Bank’s country manager, the ADB said yesterday. The switch followed a year in which the World Bank imposed a funding freeze ...

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About 600 garment workers of the Top Form factory in Phnom Penh’s Russei Keo district continued protesting yesterday against new income tax deductions from their pay outside the factory after police blocked them from marching on National Road 5. Workers have been protesting since Friday against ...

Total investment in new construction projects reached $1.53 billion through the first  eight months of the year, a 73.96 percent improvement compared to the same period last year, according to data released yesterday by the Ministry of Land Management, Urban Planning and Construction. Though the number of permits ...

The Phnom Penh Court of Appeal yesterday postponed the final hearing of disgraced anti-drug czar Moek Dara, Chea Leng and Morn Doeun until next month, citing a need for more time in light of last-minute investigations by the Banteay Meanchey Provincial Court, a court official ...

Minister of Commerce Cham Prasidh and 100 Cambodian companies are set to represent the Kingdom at the 9th China-ASEAN Expo in Nanning, China, which starts tomorrow, according to officials. The expo will include representatives from all 10 ASEAN countries and China itself. Cambodian officials will seek ...

Tuol Kork district has been showing its potential through infrastructure development, and is changing from a residential into a commercial area, according to property experts. Moreover, Tuol Kork will become a more central area because it is located in the middle of the old Phnom ...

Though still one of the poorest countries in the region, Cambodia’s recent economic growth has birthed a new class of consumer. And waiting in the wings is German automaker Porsche, which intends to sell its distinctive sports cars directly to Phnom Penh’s wealthy within a ...

Manulife, one of the world’s leading life insurance companies, now opened its office in Cambodia after seeing that growth of midlle class of total population. Manulife financial corporation was based in Canada. Manulife Financial on June 28 announced the official opening of its head office in Phnom Penh, Cambodia and its ceremony was presided over by H.E. ...

The Asian Development Bank (ADB) on Tuesday unveiled its new three-year assistance plan of 525 million U.S. dollars to Cambodia in order to help the country reduce poverty, promote growth and mitigate climate change, the bank said. The plan for 2013-2015 marked the bank’s strategic focus ...

The number of companies registering to become members of the Garment Manufacturing Association in Cambodia (GMAC) doubled last year, with more investment in value-added products. GMAC said the number of new members reached 120 last year, compared with 60 newcomers in 2011. “Labour-intensive industries in China ...

Exactly one year after the Finance Ministry indefinitely postponed its last top-level meeting with the international aid donors, there is still no sign that the government is ready to set a new date to engage face-to-face with the country’s development partners. The forum is held once ...

The 20-year jail sentence for independent radio station owner Mam Sonando made headlines around the world yesterday, but coverage of Mr. Sonando’s case was markedly different in local Khmer-language media yesterday, particularly national TV where not a mention was made. While the three major Khmer-language newspapers- ...

A new book by a Cambodian-born author, due to be published this month, is set to bring the debate over Cambodia’s dependence on foreign aid into the spotlight. Since 1992, Cambodia has received more assistance for its development than almost any other country on the planet. ...

Cambodia Airports, which operates the country’s three international airports, has financed a study of five of the country’s unused domestic airstrips ahead of government plans to rehabilitate the facilities, a representative of the company said yesterday. Khek Norinda, communications manager at the Cambodia Airports, said that ...

The opposition Sam Rainsy Party (SRP) has requested the National Assembly to reduce by 75 percent the amount of new debt the government is allowed to take on next year under the latest draft of the 2013 national budget. Opposition lawmaker Son Chhay, who sent the ...

The head of the country’s National Authority for Land Dispute Resolution on Wednesday said his authority was unable to resolve land disputes and that the responsibility for settling such disputes rested with the ministries responsible for handing out economic land concessions (ELCs) in the first ...