Cambodia lost nearly 100 factories and 40,000 jobs last year in the wake of the global financial crisis, a government official said Monday, though some other factories have since opened and put more people to work. “The ministry noticed that from January through November 2009, garment and shoe factories, in total 93, have been closed,” [...]
Posts Tagged ‘global financial crisis’
Annual Conference Addresses Garment Woes
December 17th, 2009 
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Posted in Business 
Tags: Corruption, export, Garment industry, global financial crisis 
No Comments »In US, Cambodian Businesses Hurting
January 8th, 2009 Cambodian News The economic downturn has begun hurting the US businesses of many Cambodian-Americans. “The clients won’t come, if there are a lot of layoffs in their work,†U Makara, who runs a sushi restaurant in the state of Michigan, said recently. “Sushi food is kind of an expensive food.†People who had come in to eat [...]
Cambodia to strengthen disclosure rules for banks
January 5th, 2009 Cambodian News PHNOM PENH, Jan. 5 (Xinhua) — The National Bank of Cambodia (NBC) will carry out more reforms to strengthen the disclosure rules for banks for the sake of financial safety, national media said on Monday. “The next areas of reform will encompass enhancing corporate governance and disclosure rules for banks,” said NBC governor Chea Chanto [...]
Posted in Business Tags: Bank, Cambodia, global financial crisis, National Bank of Cambodia, NBC No Comments »Cambodian economy to slow in 2009: World Bank
December 11th, 2008 Cambodian News PHNOM PENH: Cambodia’s economic growthv will slow to 4.9 percent next year amid the global financial crisis, less than half the country’s expansion pace of previous years, the World Bank said Wednesday. “Cambodia, compared to many other countries in the region, is even more open to the external environment,” Stephane Guimbert, the World Bank’s senior [...]