News

Net profits at Acleda Bank increased by 86% to $49.4 million in 2011 as the company grew both its deposits and loan portfolio. In a statement released on Friday, Acleda said that loans grew by 35.4 percent to $989.4 million, while deposits at the bank ...

Chinese President Hu Jintao asked close economically Cambodia on Saturday not to push talks on the vexed issue of the South China Sea “too fast” as he pledged to double bilateral trade to $5 billion and announced fresh aid to the impoverished country. Cambodia holds the ...

The Svay Rieng Provincial Court yesterday questioned two of the three female garment factory workers who were shot during a protest at a special economic zone (SEZ) in Bavet City in February, the provincial prosecutor said yesterday. Keo Nea, 18; Bun Chenda, 21; and Nuth Sokhorn, ...

Cambodia is close to a deal that would ship as much as 20,000 tonnes of milled rice to Indonesia, according to sources familiar with the matter. Thon Virak, director of state-owned rice exporter Green Trade and chairman of Federation of Milled Rice Exporters Association, said Green ...

Government officials did not, and Lao students could not, attend yesterday’s Asean Peoples’ Forum in Phnom Penh, where more than 1,500 members of civil society groups discussed the region’s most pressing issues, including human rights, poverty, land usurping and domestic violence. The three-day forum, which is not ...

The Japanese government sealed the deal yesterday on an agreement to provide Cambodia with a US$86 million loan for a project that will supply Siem Reap town residents with water from the Tonle Sap lake and alleviate their need for water drawn from wells. The 40-year ...

In an effort to stop their homes from being swallowed up by a Chinese mega-tourism project, Koh Kong villagers said they will submit a petition to the Chinese Embassy today, calling for intervention from visiting Chinese President Hu Jintao. Villager representative Tith Ten, 54, from Kiri ...

Rights groups pushed for increased employment of disabled Cambodians and the ratification of a UN convention on their rights at the launch of the ASEAN Disability Forum yesterday. Ngin Saorath, executive director of the Cambodian Disabled People’s Organisation, said groups will draft a declaration over the ...

The Kompong Chhnang Provincial Court yesterday once again declined to receive a joint complaint from villagers in Kompong Tralach district embroiled in a land dispute with the wife of Industry Minister Suy Sem. Chhuon Siven, provincial clerk director, said that the court could not take the ...

More than 200 families in Prey Veng province protested outside the Pea Reang district police office on Wednesday against electricity providers Elisa Hour and Electricite du Cambodge (EdC), which have both refused to lower electricity rates, despite having made a promise to do so three ...

State-run Electricite du Cambodge (EdC), the main provider of electricity in the country, has appealed to residents of Phnom Penh to reduce electricity use due to a power shortage, an EdC official said yesterday. The company is only able to produce 70 percent of the city’s ...

The National Bank of Cambodia this week signed a Memorandum of Under-standing with the State Bank of Vietnam that would allow for the exchange of information to fight money laundering and terrorism financing. The MoU, signed by NBC Governor Chea Chanto and SBV Governor Nguyen Van ...

Cambodia is close to a deal that would ship as much as 20,000 tonnes of milled rice to Indonesia, according to sources familiar with the matter. Thon Virak, director of state-owned rice exporter Green Trade and chairman of Federation of Milled Rice Exporters Association, said Green ...

Myanmar’s moves toward economic and political reform would not subtract from Cambodia’s regular stream of foreign investment, experts and insiders said – at least not in the short run. Word of an investor-friendly Myanmar has spread quickly with the US’s partial waiver on trade sanctions in ...

The Cambodian government has reclassified 12,000 hectares of wildlife sanctuary to make way for agro-industry concessions for three companies, according to the royal book issued on March 19. The land has been cut from the Kulen Promtep Wildlife Sanctuary, the largest protected area in Cambodia, which ...

Prime Minister Hun Sen has appealed for military cooperation between members of the Association of Southeast Asian Nations, a source said. Hun Sen was quoted as saying that regional military cooperation was needed as ASEAN countries would soon become one family. ...

Even with an improved domestic job market, many Cambodian workers are seeking jobs overseas, despite the risks. This is mainly due to the government’s failure to get the word out, Moeun Tola, a labor advocate at the Community Legal Education Center, told “Hello VOA” Thursday. “We see ...

President Hu Jintao today becomes the first Chinese head of state to visit Cambodia in 12 years, in a trip days before Southeast Asian leaders gather for talks that may touch on territorial disputes in the South China Sea. Hu’s visit, which lasts until April 2, ...

Minister of Information Khieu Kanarith has encouraged all provincial and city information departments to set up and maintain their own homepages, websites and profiles on the Internet, including popular social networking sites such as Facebook, officials said yesterday. The minister, who posts frequent updates ...

A shortage of workers, particularly those with skills, is the biggest threat to economic growth in Cambodia today, Sok Chenda, secretary general of the Council for the Development of Cambodia (CDC), said yesterday. Speaking at the Greater Mekong Subregion Investment Policy Forum organized by the Organization ...

Hyatt Hotels Co will open its first hotel in Cambodia next year by rebranding the well-known five-star boutique resort Hotel de la Paix, the company said in a statement on Tuesday. As part of the agreement, KS Hotels and Resorts, a Thai-based firm, will retain full ...

The European Union has launched a $4.5 million program aimed at increasing food security among indigenous minorities in Ratanakkiri province, including those whose land has been affected by the growing number of economic land concessions in the area. Speaking on the sidelines of the launch in ...

Beer promoters are hoping a new documentary chronicling the conditions they face in the workplace will pressure beer companies to increase their wages and reduce harassment from customers. The documentary, launched yesterday at a meeting with members of the Cambodian Food and Service Workers Federation (CFSWF), ...

Cambodian tycoon Ly Yong Phat has signed a US$3 billion joint-venture agreement with Thai energy firm Ratchaburi Electricity Generating Plc on what would be the Kingdom’s largest power station. Just under 90 per cent of the power, however, would be sold to Thailand. The 1,800 megawatt ...