The Phnom Penh Post

Cambodia will no doubt look to partners other than the US and the European Union to bolster its economic growth as those key export markets continue to struggle, a senior International Monetary Fund official says. One way in which Cambodia would forge new and growing relationships with higher-income ...

A dam project set to flood thousands of hectares of protected forest and displace about 1,500 indigenous minority villagers in one of Koh Kong province’s most precious ecosystems should be scrapped, opposition Sam Rainsy Party MP Son Chhay said yesterday. The 109-megawatt dam project in the ...

The price increase for Phnom Penh Water Supply Authority shares maxed out after an hour of trading yesterday morning, the second day of operations on the Cambodia Securities Exchange. PPWSA closed up 4.84 per cent yesterday at 9,750 riel (US$2.44), climbing from 9,300 the day before, ...

The Foreign Trade Bank of Cambodia (FTB) and Tong Yang Securities (Cambodia) yesterday signed a memorandum of understanding on financial consultation services and trade co-operation that is hoped to expand banking and securities business in the country. The MoU should bring the bank and the securities firm into ...

Moody’s Investor Services will review ACLEDA Bank and Cambodian Public Bank (Campu Bank) for potential downgrades, according to a release from the rating agency on Wednesday. But the move comes primarily as a response to the global financial crisis and the rating agency’s attempt to realign sovereign ratings with ...

Moody’s Investor Service yesterday placed local currency long-term deposit and issuer ratings of two of Cambodia’s largest banks, ACLEDA Bank and Cambodian Public Bank (Campu Bank), on review for downgrade, according to a statement from the rating service ...

By the time Deputy Prime Minister Keat Chhon closed the first session of the Cambodian Securities Exchange yesterday morning, shares in Phnom Penh Water Supply Authority, the Kingdom’s first domestically listed company, were just shy of soaring 50 per cent. Institutional and retail investors traded 487,110 ...

A large North American union has called on US retail giant Walmart to take immediate action against one of its seafood suppliers in Thailand accused of holding Cambodian workers in debt bondage while barely providing them with enough money to eat. The United Food and Commercial Workers ...

The controversial Xayaburi hydro-electric dam project in northern Laos may have already begun, despite countries, including Cambodia, requesting further studies to assess possible negative effects on Lower Mekong communities.Thai development firm Ch.Karnchang said it was due to begin building the dam on March 15 after finalising a ...

ANZ Royal Bank chief executive Damian Bell has resigned from the post he held for not much more than a month, a company spokeswoman confirmed yesterday. He resigned “several weeks ago”, Libby Armstrong, a Hong Kong-based ANZ spokeswoman, said by phone. No explanation was offered for ...

Investors, along with the next two companies expected to list on the Cambodia Securities Exchange, will watch carefully this morning the action on the country’s first initial public offering, nine months after the CSX officially opened. After a book-building process that was 17 times over-subscribed, Phnom Penh ...

In Sihanoukville, just north of Cambodia’s only deep-water port, stands the headquarters of Chenla Seafood. A uniformed guard stands watch at the gate, which opens on to manicured grounds and a two-building facility that houses what will likely become the country’s premier seafood processor. A few ...

A Thai ban on Cambodian corn and other agricultural products led to a 65 per cent year-on-year drop in the Kingdom’s corn exports during the first two months of the year, officials claimed yesterday. January and February exports fell to 2,333 tonnes from 6,694 a year ...

Opposition parliamentarian Mu Sochua has taken aim at Australian mining companies eyeing the Kingdom’s resources, travelling to their home soil to lobby the halls of power. Mu Sochua cited fears that Australian companies awarded exploration concessions in Ratanakkiri and Mondulkiri provinces will treat ethnic minorities there ...

As many flock to their hometowns today to celebrate Khmer New Year, complaints of price hikes and border bribes have started pouring in like clockwork. Passengers arranging transport to the provinces told the Post yesterday that bus companies and taxies had raised their prices despite a ...

The Philippines’ Cebu-Pacific Airlines will launch direct flights to Siem Reap from Manila on April 19, according to a Cambodian civil aviation official. The Philippine airline sought to take advantage of Siem Reap’s status as a big tourist destination, Soy Sokhan said. ...

Global sportswear giant Nike has asked the International Labour Organisation’s industry monitoring body to investigate the two mass fainting incidents at its supplier Sabrina (Cambodia) Manufacturing last week and report its finding to it, Nike said yesterday. “Nike has requested ILO Better [Factories] Cambodia, the industry ...

Cambodia migrant workers seeking to leave allegedly exploitative conditions at the Phatthana Seafood factory in southern Thailand said yesterday that they were still being forced to pay to get their passports back. The factory, which exports fish to buyers across the world including Walmart, has come ...

A lone Cambodian woman was found sitting outside Phnom Penh International Airport late on Tuesday night by patrolling police. Smiling to herself, with a vacant expression, she was unable to explain where she came from or what she was doing, but a Malaysian stamp was found ...

No mistake was made when former Anco Brothers executive Heng Chheang and his wife, Tep Kolap, were arrested last year, the Supreme Court ruled yesterday. Pin Vannak, a defence lawyer for the couple, had argued they had been arrested illegally because the Phnom Penh municipal court ...

More than half of the 800 Cambodian workers who accused police of threatening them with guns and firing into the air during a protest at Phatthana Seafood Co in Thailand on Monday were preparing to return home yesterday, a strike representative said. Sok Sorng said employees ...

Arrivals at Cambodia’s two biggest airports increased by about 20 percent year-on-year in the first quarter of 2012, according to Cambodia Airports. Industry insiders said economic progress in the region coupled with increased flights added to the passenger count at Phnom Penh International Airport and Siem ...

Cambodian rubber exports declined 3 per cent year-on-year during the first two months of 2012, according to figures from the Ministry of Commerce. The value of the exports fell by nearly a third. ...

The Kampong Chhnang provincial court yesterday ordered the KDC company to produce proof of ownership for 105 land titles in the Kampong Tralach district, the subject of a land dispute that dates back to 2007. ...