The Phnom Penh Post

ADB Institute: too much focus on 2015

Masahiro Kawai, dean of the Asia Development Bank Institute, believes too great a focus is being placed on the realization of the 2015 ASEAN Economic Community at the cost of considering middle- and longer-term issues in the ASEAN region. “Economic community-building is not going to be completed in ...

http://www.phnompenhpost.com/index.php/2012110159515/Business/adb-institute-too-much-focus-on-2015.html

National Road 3 prices flat

The sale and purchase of land along National Road 3 is increasing in volume but land prices are not increasing significantly despite the road being completed, and despite the many industrial zones along it.  Based on his company’s research in the second quarter of this year, ...

http://www.phnompenhpost.com/index.php/Real-Estate/national-road-3-prices-flat.html

New unit stops 23 on Thai border

Units of a newly deployed, 100-strong military police force stationed around Banteay Meanchey province’s Poipet town after Pchum Ben snared 23 workers seeking to illegally cross the border into Thailand for work on Tuesday. Twenty mobile, five-man units were patrolling in rotating day and night shifts ...

http://www.phnompenhpost.com/index.php/2012110159506/National-news/new-unit-stops-23-on-thai-border.html

PM says economy to grow by 7 per cent

Prime Minister Hun Sen said on Monday that the Kingdom’s economic growth is forecast to grow at 7 per cent this year, according to news agency reports. “We still maintain our forecast of  7 per cent growth and the latest forecast showed that the inflation rate ...

http://www.phnompenhpost.com/index.php/2012103159495/Business/pm-says-economy-to-grow-by-7-per-cent.html

Flood money runneth over

Flooding  this year cost the government significantly less than expected due to better preparation and lower water levels than in previous years, first vice president of the National Committee for Disaster Management Nhim Vanda announced yesterday. The NCDM could not yet report the precise amount spent on flood ...

http://www.phnompenhpost.com/index.php/2012103159481/National-news/flood-money-runneth-over.html

Hun Sen: remove ASEAN trade barriers

Prime Minister Hun Sen has called for the removal of all tariff and non-tariff barriers when the ASEAN Economic Community (AEC) integrates in 2015, saying it is of central importance. Speaking at the opening of an ASEAN symposium in Phnom Penh on Tuesday, the premier said integration of ...

http://www.phnompenhpost.com/index.php/2012103159497/Business/hun-sen-remove-asean-trade-barriers.html

Swedish outcry has royal voice in midst

Growing calls in Sweden for multinational clothing giant H&M to increase wages for Cambodian garment workers have taken a royal twist. Cambodia’s Prince Charin Norodom, 38, who has lived in Sweden for more than 30 years, told the Post yesterday that he had been working behind ...

http://www.phnompenhpost.com/index.php/2012103159482/National-news/swedish-outcry-has-royal-voice-in-midst.html

Striking workers resign in trade-off

Tae Young factory workers have ended their strike demanding the reinstatement of 16 fired workers after the factory last week agreed to drop its legal complaints against eight of the 16 in return for the entire group’s official resignations. About 600 protesters began the strike at ...

http://www.phnompenhpost.com/index.php/2012103159487/National-news/striking-workers-resign-in-trade-off.html

Hong Kong seeking trade ties

During a visit to Phnom Penh this week, Greg So, Hong Kong’s Secretary for Commerce and Economic Development, reiterated Hong Kong’s desire to be inducted into the ASEAN-China Free Trade Agreement and highlighted Cambodia as a potential beneficiary for foreign direct investment from Hong Kong. In So’s view, economic ...

http://www.phnompenhpost.com/index.php/2012103159498/Business/hong-kong-seeks-trade-ties.html

Silencing the Voice of Dissent

Before its owner was arrested in July on charges of insurrection, Beehive radio had hit the consciousness of few outside Cambodia. While international rights groups and press watchdogs were quick to jump on a story of political posturing and the quashing of free speech in the ...

http://www.phnompenhpost.com/index.php/2012103159489/National-news/silencing-the-voice-of-dissent.html

Cambodia needs to polish reputation

The chief economist at the Economic Research Institute for ASEAN and East Asia says Cambodia needs to attract greater numbers of multinational companies and treat them well, in order to establish production networks that will transfer technology to smaller Cambodian businesses. In an interview with the ...

http://www.phnompenhpost.com/index.php/2012103159496/Business/cambodia-needs-to-polish-reputation.html

First financial leasing company for Cambodia

GL Finance (GLF), the first and only financial leasing company in Cambodia, opened its 11th branch in Phnom Penh on Friday, covering all authorized Honda and NCX  dealerships in Phnom Penh and its vicinity. GLF, in partnership with Honda NCX, helps customers buy their own motorbikes and provides ...

http://www.phnompenhpost.com/index.php/2012103059458/Business/first-financial-leasing-company-for-cambodia.html

Banking made more accessible

The largest bank in Cambodia, Acleda Bank Plc, has extended its mobile banking and payments service to consumers without an existing banking relationship of any kind, according to a press release by global technology provider Fiserv. Established in 2010, Acleda Unity now reaches untapped consumer segments using ...

http://www.phnompenhpost.com/index.php/2012103059461/Business/banking-made-more-accessible.html

Improvements for banks after budget

Improvements to Cambodia’s banking and finance sector are expected to come about as a result of the 2013 national budget, a Council of Ministers spokesman said. “We will dedicate resources to ensuring macro-economic stability,” spokesman for the Council of Ministers, Phay Siphan said. These measures, in conjunction ...

http://www.phnompenhpost.com/index.php/2012103059460/Business/improvements-for-banks-after-budget.html

Beef price almost doubles

High demand for beef, particularly during the Islamic Qurban festival which ended yesterday, caused beef prices to almost double compared with the same period last year, according to Islamic leaders and officials. Him Khortieth, IKatan  Mahabbah Muslimin’s (IMAN) representative in Cambodia, said the association planned to ...

http://www.phnompenhpost.com/index.php/2012103059462/Business/beef-price-almost-doubles.html

Norwegian firm sues Mfone over $3.7m debt

A lawyer for Norwegian-owned power and electronics equipment firm Eltek Valere yesterday called on investors not to buy stakes in the Thai-owned mobile phone operator Mfone, and to await court’s ruling. The lawyer’s appeal came after the Phnom Penh Municipal Court issued a warrant for keeping ...

http://www.phnompenhpost.com/index.php/2012103059457/Business/norwegian-firm-sues-mfone-over-37m-debt.html

Civil servants' union dilemma

The American Center for International Labor Solidarity has set its sights on the Herculean task of unionizing Cambodia’s civil service, a move that, were it successful, could have profound implications for the country’s political landscape. The term civil service in Cambodia has unusually broad application, referring to bureaucrats, ...

http://www.phnompenhpost.com/index.php/2012103059469/National-news/civil-servants-union-dilemma.html

Hun Sen announces new airport

Prime Minister Hun Sen requisitioned 768 hectares of land on Saturday that will be used to build an international airport in Kampong Chhnang after 2025. During presiding over a land title distribution ceremony in Kampong Chhnang province, the prime minister announced the expansion of the airport. ...

http://www.phnompenhpost.com/index.php/2012102959448/Business/hun-sen-announces-new-airport.html

Maid may be stuck in Malaysia

The mother of a domestic maid allegedly stranded in Malaysia has become the latest Cambodian claimant to file an official complaint to the Ministry of Interior over labor abuse in the country. Em Sokhum said her 24-year-old daughter Chher Sophorn left to pursue work in Malaysia more than ...

http://www.phnompenhpost.com/index.php/2012102959449/National-news/domestic-helper-may-be-stuck-in-malaysia.html

Land deals? Leave the Red Cross out of it: PM

Prime Minister Hun Sen publicly castigated the Kampong Thom provincial governor in a speech on Saturday for allegedly claiming a large portion of land and saying it was needed for the local office of the Cambodian Red Cross, an agency lead by Hun Sen’s wife, Bun ...

http://www.phnompenhpost.com/index.php/2012102959451/National-news/land-deals-leave-the-red-cross-out-of-it.html

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