PHNOM PENH, Cambodia — Impoverished Cambodia plans to build a 1,820-foot (555-meter) skyscraper, its prime minister said Wednesday, a feat that would give one of the region’s least-developed capitals the tallest building in Asia. Prime Minister Hun Sen said he had approved a master plan for the skyscraper, which would be located about half a [...]
In order to protect of the depreciation of value of Cambodia’s currency and stabilize the Cambodia’s macroeconomics, the National Bank of Cambodia has tried to raise the value of Riel by purchasing a further US$5 million. The total of amount of dollars the central bank purchased reached US$48 million for the year. Since mid-April, Cambodia’s [...]
Cambodians have long had a habit of buying and stocking gold, especially as jewelry, but that habit may be changing, thanks to gold’s continual rise in value. “No one wants to buy gold now,” said Chea Ly, a Phnom Penh resident living near Deum Kor market who has stopped stocking jewelry herself. “We would rather [...]
Economists say the lessons of the recent economic crisis should encourage policymakers to revise some of their macroeconomic principles and make immediate improvements in fiscal management, infrastructure and other areas to make the country more competitive in the global recovery.
TRADE between Cambodia and Hong Kong increased by 5 percent to $121 million in the first quarter of 2010, compared to the first quarter of 2009, figures released Thursday show. The Ministry of Commerce’s International Trade Department director general said that growth was in line with an across-the-board increase in Cambodian trade during the first [...]