Phnom Penh Post - Bank pullout
Crédit Agricole Indosuez Bank has announced it will close its sole branch
in Cambodia. In a letter to the National Bank of Cambodia on September 18, the French
bank cited "purely strategic reasons" for its decision. Representatives
for the bank refused to provide more details, and depositors have 60 days to close
their accounts.
Temi tourism project approved by the CDCThe $500.4 million Tourism, Ecological, Marine and International (Temi) tourism project has been approved by the Council for the Development of Cambodia (CDC), according to a notice on its Facebook page on Monday. The project is part of Chinese-owned Union City Development Group Co Ltd’s (
Rainsy will return at ‘favourable time’Opposition figure Sam Rainsy on Saturday suggested he would not return to Cambodia as he had previously promised, saying that like liberators King Father Norodom Sihanouk and Charles de Gaulle, he would only do so at a “favourable time”. “I will go back to Cambodia
NagaWorld casino sees net profit of more than $390M last yearPhnom Penh’s NagaWorld casino posted a 53 per cent net profit increase last year at $390.6 million, a sum which is almost equal to the combined net profit of all Cambodian commercial banks in 2017. NagaWorld’s parent company, NagaCorp Ltd, is listed on the Hong Kong
US Embassy urged to stop ‘disrespecting sovereignty’The Ministry of Foreign Affairs and International Cooperation called on the US Embassy in Phnom Penh on Saturday to respect the Vienna Convention on Diplomatic Relations after it called former opposition leader Kem Sokha “an innocent man” – a move deemed to be “disrespecting Cambodia’s