News

Russian giant pulling back to core markets to achieve more rational structure and raise funds for investment Russia’s VimpelCom is considering selling many of its subsidiaries in Africa and Asia to focus on more “mature” markets, according to reports. The Financial Times newspaper says that the operator ...

Cambodian vegetable farmers say they are being forced to compete with more efficient farmers in Vietnam who use farming techniques to make their vegetables grow faster. Farmers in Sambork Meas, a village on the Mekong River in Mokkompul commune in Bakkeng district in Kandal province, say ...

Indochine Mining Limited (ASX:IDC.AX – News) is pleased to announce a successful capital raising from existing institutional shareholders and a new major global fund Indochine Mining Limited (ASX:IDC.AX – News) is a gold-copper exploration and development company. In Cambodia, it has the largest mining property holding ...

Prime Minister Hun Sen called on Tuesday for the complete removal of tariff and non-tariff barriers when the ASEAN Economic Community is set up in 2015 Hun Sen also called for enhanced trade facilitation, further services liberalization and a regional framework for liberalizing and facilitating cross-border ...

Cambodians for Resource Revenue Transparency (CRRT) will host a one-day National Conference Nov. 2 on the Best Practice of Governance in Extractive Industries and Revenue Management. The conference, to be attended by representatives from the Association of South East Asia Nations (ASEAN), will also include representatives ...

Scientists and international experts fine-tuning the design of the Xayaboury dam have unveiled a scale model of the planned run-of-river structure to ensure the most efficient level of sediment flushing. The 1:120 scale model simulates actual hydrologic flows and water velocities in the Mekong River at ...

PTT has set aside up to Bt6 billion to carpet key Asean markets with more than 240 retail petrol stations over the next five years. President and chief executive officer Pailin Chuchottaworn said the company had earmarked spending of between Bt5 billion and Bt6 billion through ...

More than 30 families living in Pursat province’s Dangkeab village have filed complaints with their village chief against environmental officials, whom they claim extorted money from them to pass illegal checkpoints as they transported firewood from a nearby forest to the village, authorities said yesterday. “Since ...

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 ...

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 ...

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 ...

Prime Minister Hun Sen yesterday denied giving the green light for a neighboring country to construct an electricity-generating nuclear power plant in Cambodia, saying it would be too dangerous. Senior Minister and Vice Chairman for the Council for the Development of Cambodia Sun Chanthol said ...

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 ...

The Australian Senate yesterday urged the Cambodian government to run free and fair national elections next year without the “harassment or intimidation” of opposition leader Sam Rainsy, who remains in self-imposed exile avoiding an 11-year jail sentence. The appeal comes only days after the European Parliament ...

Cambodia will allow inter-country adoptions to resume from January 1 next year, four years after the government stopped adoptions amid claims of corruption and baby selling, government officials confirmed yesterday. Speaking after a meeting with Susan Jacobs, the U.S. State Department’s special adviser on children’s issues, Secretary of ...

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 ...

The Phnom Penh Municipal Court yesterday charged one of its own clerks [Kruoch Borath] with breach of trust for taking $250,000 dollars that was paid to the clerk to facilitate a speedy trial without “problems,” officials said. [Another clerk for Judge Lim Meng] Mr. Khen ...

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, ...

Swedish fashion retailer H&M has hit back at accusations that it fails to pay adequate wages to workers in Cambodian factories making its clothes – and says instead that the situation would be a lot worse if it didn’t source from the country ...

Cambodia has received a US$1 million grant in order to develop its milled rice industry and strengthen the country’s exporting capacity, according to the Cambodian Ministry of Commerce. It is part of a larger, US$3-4 million grant from the Enhanced Integrated Framework (EIF), a partnership ...

A leading global provider of financial services technology solutions, today announced that ACLEDA Bank Plc. (ACLEDA), the largest bank in Cambodia, has extended its ACLEDA Unity mobile banking and payments service to new, untapped consumer segments using Mobiliti Reach™ from Fiserv. The bank, which has ...

Even as its controversial Xayaburi Dam project is still drawing protest from Mekong river downstream countries such as Cambodia, Laos has inked a deal with South Korean firms to build and operate another large hydropower plant on the Mekong River network. According to the Phnom Penh ...

Fishermen representing five Cambodian communities will publicly express their support for a ban on gillnet use in a ceremony highlighting the importance of the Mekong River Irrawaddy dolphin. The event organised by the Commission for Dolphin Conservation and Development of the Mekong River Dolphin Eco-tourism Zone, ...

Thailand’s GL Finance Plc. launched its business in Cambodia on Friday by opening eight branches in Phnom Penh and Kandal province that will operate hire purchase operations out of Honda motorcycle dealership. Speaking during the opening ceremony for its branch in Phnom Penh’s Prampi Makara district, ...