November 18, 2008 BANLUNG, Cambodia — A few years ago, this dusty frontier town was little more than a junction of dirt tracks in the jungle, with a handful of wooden buildings and beat-up old cars. Then global crop prices shot up, and Banlung became a boomtown.
Farmers swarmed in and cleared land to plant rubber, [...]
Falling Crop Prices Threaten Boom in Small Farms
Cambodian Finance Stable But Stock Market Plans May Wait – PM
PHNOM PENH (AFP)–Cambodian premier Hun Sen said Friday the country’s banking sector was stable despite the global financial crisis, but plans to set up a national stock exchange could be delayed.
The prime minister said the state of the country’s finance industry was “in a stable position which is not worrisome” because Cambodia “has not yet [...]
World’s poorest nations call for more aid amid global financial woes
SIEM REAP, Cambodia (AFP) — The world’s poorest countries on Thursday called on rich nations to continue giving aid despite the global financial crisis.
The appeal from trade ministers and representatives from nearly 50 Least Developed Countries ended two days of talks in Cambodia’s tourist hub Siem Reap to discuss trade and the credit crunch.
Jointly organised [...]
Impunity Hurting Political ‘Maturity’: Official
Cambodia has the potential to be an industrialized nation, but corruption and impunity have kept it politically immature, a former US ambassador said.
Sichan Siv, who serverd as US ambassador to the United Nations, said Cambodia has slowly overcome its problems since the early 1990s, but certain impediments remain.
“The problems of corruption, crime and impunity still [...]
Cambodia urges unity poor nations in trade talks
PHNOM PENH, Cambodia (AP) — Cambodian Prime Minister Hun Sen said Wednesday poor countries like his must continue speaking with one voice in the Doha round of global trade talks to ensure their competitiveness with developed countries.
He also lashed out at wealthy nations for maintaining trade barriers that hurt poor countries, such as farm subsidies [...]
Inflation Pinching Cambodians in US, Too
With the US economy worsening, inflation and the price of gasoline have hit Cambodians living in the US. The pinch is obvious in Lowell, Mass., where Cambodians have numerous businesses, jobs and now financial woes.
Businesses are foundering in Lowell, as industries are moving to other states or overseas to reduce costs, said Kong Sengly, [...]