The Phnom Penh Post

Local microfinance institute invests in new ATM network

Hattha Kaksekar Ltd, a local microfinance institution, has invested almost US$2 million in a new ATM network, the company announced yesterday. Hattha Kaksekar now has around $32 million in deposits and will become the first financial institution to use SmartVista, an automated ATM process which also ...

http://www.phnompenhpost.com/index.php/2012072057524/Business/mfi-to-invest-in-new-atm-network.html

Locked-up villagers set off protests

More than 100 villagers protested in front of Banan district hall in Battambang province yesterday, demanding the release of six villagers who were arrested on Wednesday for allegedly accepting money to illegally divide state land. The six suspects have been accused of advertising land and then ...

http://www.phnompenhpost.com/index.php/2012072057527/National-news/land-dispute-locked-up-villagers-set-off-protests.html

World Bank raps dam study firm

The World Bank has blacklisted an arm of the company that carried out a much-criticised study into the Xayaburi hydro dam project, it has confirmed. According to the bank’s website, Pöyry Management Consulting Oy Finland has been banned from conducting business with the bank for three ...

http://www.phnompenhpost.com/index.php/2012072057536/National-news/world-bank-raps-dam-study-firm.html

Factory workers hold out for more

Little more than a week after garment workers were granted a US$10 monthly increase in allowances and bonuses, thousands of workers at a number of factories joined strikes with a clear message yesterday: they need more. Workers rallied outside factory gates and some marched to the ...

http://www.phnompenhpost.com/index.php/2012072057529/National-news/workers-hold-out-for-more.html

Police seize luxury wood in house raid

About 2,000 kilograms of Kran-houng luxury timber worth tens of thousands of dollars and a Toyota Camry car were seized by authorities in Oddar Meanchey province’s Anlong Veng district on Wednesday, military police said yesterday. ...

http://www.phnompenhpost.com/index.php/2012072057533/National-news/suspects-on-run-police-seize-luxury-wood-in-house-raid.html

Phnom Penh's new apartments soar on high rents

Real estate developments covered in green tarp have sprung up across the capital’s Boeung Kang Kong commune, and housing units are filling before the projects are finished, insiders said. The value of construction approvals in Phnom Penh jumped by 557.5 per cent in March to US$150.5 ...

http://www.phnompenhpost.com/index.php/2012071957504/Business/phnom-penh-apartments-soar-on-high-rents.html

Japanese companies face domestic employee shortage

Japanese companies are facing a shortage of skilled workers which is hindering progress in Japanese-owned electronic factories, the Japanese Business Association of Cambodia (JBAC) said. The statement comes after the Asian Development Bank said in April that a shortage of skilled workers would continue to hinder ...

http://www.phnompenhpost.com/index.php/2012071957505/Business/japanese-companies-face-employee-shortage.html

Senator Kok An files new lawsuits

A defence lawyer for tycoon Kok An revealed yesterday that the senator had filed lawsuits in March against six relatives of Heng Chheang and his wife, Tep Kolap, both of whom were convicted last December of embezzling US$58 million from An’s wife’s Anco Brothers Co ...

http://www.phnompenhpost.com/index.php/2012071957513/National-news/senator-files-new-lawsuits.html

Kantha Bopha hospitals get another $1 million

The Cambodian government donated $1 million to Kantha Bopha Children’s Hospitals on July 18, said Minister of Health Mam Bunheng. The donation came to the free outpatient medical institution as it’s facing a budget shortfall.   ...

http://www.phnompenhpost.com/index.php/2012071957508/National-news/kantha-bopha-hospitals-get-another-1-million.html

More water transport needed

Cambodia’s waterways go largely unused for domestic shipping, a factor hurting the competitveness of the country’s logistics and agriculture sectors, experts said yesterday. Cambodia lost ground this year in a measure of logistics performance. As rice millers and exporters push toward the 1 million-tonne rice goal ...

http://www.phnompenhpost.com/index.php/2012071857471/Business/waterways-needed.html

Cambodia’s GDP is revised

Slumping garment exports led yesterday to an official downgrade for Cambodian’s growth outlook this year – albeit a slight one. Minister of Economy and Finance Keat Chhon projected 6.9 per cent year-on-year gross domestic product growth for 2012, down a tenth of a percentage point from ...

http://www.phnompenhpost.com/index.php/2012071857475/Business/cambodia-gdp-is-revised.html

Cambodia will not export rice to Philippines

After the Philippines government issued their own policy regarding milled rice exports the Ministry of Commerce of Cambodia has expressed its disinterest in exporting milled rice to its neighbour, Cambodia’s Commerce Minister said yesterday. Local rice millers will not be encouraged to make any efforts to ...

http://www.phnompenhpost.com/index.php/2012071857476/Business/cambodia-not-to-export-rice-to-philippines.html

Cambodia wakes up to coffee

The Cambodian coffee industry has seen a rapid increase in market value over the last few years, rising from production of about 18 tonnes per year in 2009, to more than 2,370 tonnes last year, market insiders said. Local coffee sales increased to 30 tonnes in ...

http://www.phnompenhpost.com/index.php/2012071857470/Business/cambodia-wakes-up-to-coffee.html

SMEs seek own SEZ

The Federation of Associations of Small and Medium Enterprises of Cambodia (FASMEC) is now pushing for the establishment of a special economic zone (SEZ) for small and medium sized enterprises and is currently discussing such a move with the Ministry of Industry, Mines and Energy, ...

http://www.phnompenhpost.com/index.php/2012071857474/Business/smes-seek-own-sez.html

Second ‘seccesionist’ arrested in Pursat

Another alleged “secessionist” involved in a land dispute was arrested yesterday in Pursat province’s Veal Veng district, where villagers said authorities continued a prolonged forced eviction that has led to the destruction of some 500 homes. Three other men accused of attempting to create an autonomous ...

http://www.phnompenhpost.com/index.php/2012071857486/National-news/second-secessionist-arrested-in-pursat.html

Rural surveyors miss Phnom Penh

Inner city students enlisted into Prime Minister Hun Sen’s nationwide land-titling program have been getting a taste of the rural life and some of them are ready to come home. Prepped with a two-day crash course in surveying, more than 1,000 youths have been dispatched across ...

http://www.phnompenhpost.com/index.php/2012071757461/National-news/rural-surveyors-miss-phnom-penh.html

Xayaburi dam construction to proceed

The Laos government will continue to allow what it has dubbed “preparatory work” on the controversial Xayaburi dam, including the resettlement of villagers, despite promising to suspend the project at last week’s ASEAN Regional Forum, according to a media report in Laos. ...

http://www.phnompenhpost.com/index.php/2012071757463/National-news/xayaburi-dam-construction-to-proceed.html

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