Cambodia Morning News For October 19

Cambodia Morning News For October 19

Cambodia morning newsRiel loan interest rates on par with dollar counterparts
Interest rates for microfinance loans issued in Cambodian riel have decreased to the same level as those given in US dollar, a change industry insiders claim is an upside for circulation of the local currency that is being driven in part by the 18 percent interest rate cap imposed by the central bank in April.
— The Phnom Penh Post

Rule of law ‘virtually absent’: Court manipulation part of ruling party’s master plan, report argues
Cambodia’s judiciary remains in the iron grip of Prime Minister Hun Sen and his government, according to an extensive new International Commission of Jurists report, which found that “the rule of law is virtually absent from the Cambodian justice system”.
— The Phnom Penh Post

More champagne: Australia upgrades ties with democracy-crushing Cambodian regime
The Turnbull government has upgraded diplomatic ties with Cambodia in a champagne-clinking ceremony at a time Prime Minister Hun Sen is ruthlessly dismantling democracy and the country is sliding into a dictatorship.
— The Sydney Morning Herald

Rouse launches office in Cambodia
IP consultancy firm Rouse has announced the opening of a new office in Cambodia’s capital Phnom Penh.
— WIPR

Cambodia drops contentious clause from wage law
Cambodia’s Labour Ministry is to drop two comtentious clause from a proposed minimun wage that would have prevented independent research into the annual negotiation process and established labour courts to resovle isputews.
— Just Style

Cambodia supports Singapore’s Chairmanship of ASEAN in 2018
Cambodia expressed its support for Singapore’s Chairmanship of ASEAN in 2018 during the official visit of Singapore’s Minister for Foreign Affairs, Dr Vivian Balakrishnan and both sides also signed an MoU on political consultations on Tuesday, October 17.
— International Business Times

Rights groups deplore worsening repression in Cambodia
Rights groups say foreign governments should refuse to recognize Cambodia’s next elections and consider sanctions on its leaders if the main opposition party is dissolved.
— Miami Herald

Poipet casino operator to buy back 5% of stock
Casino operator Donaco International Ltd announced plans to generate strong returns through an on-market buyback of up to 41.5 million of its shares, to a maximum of 5 percent of its ordinary shares, according to a release on Australian Securities Exchange.
— The Phnom Penh Post

Francophone States Must Work Together: Minister
The Minister of Commerce on Monday urged member estates of the International Organisation of La Francophonie (OIF), particularly less developed economies, to work together to achieve more favourable trade terms in light of ever-increasing competition in international markets.
— B2B Cambodia

USAID to finance agriculture projects
USAID’s Development Credit Authority (DCA) announced that it will make as much as $15 million in financing available to support agricultural development in four Cambodian provinces through partnerships with multiple financial institutions.
— The Phnom Penh Post

Cambodia’s central bank releases 40 billion riel
The National Bank of Cambodia yesterday held its 13th liquidity-providing collateralised operation, making 40 billion riel ($9.89 million) available to financial institutions in an auction in which repurchase agreements, or repos, were signed for 2 billion riel ($500,000).
— The Phnom Penh Post

New Flight Seeks To Bring Even More Chinese Visitors
JC International Airlines launched a new regular flight connecting the cities of Siem Reap and Chongqing in China, a service that seeks to capitalise on the increasing number of Chinese visitors to the Kingdom.
— B2B Cambodia

Feature photo World Bank Photo Collection/Chhor Sokunthea
Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

Cambodia morning news by AEC News Today is your one stop source for Cambodia news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies not politics.

 

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Sreypov Men recently completed a course of study in International Relations at the Institute of Foreign Languages.

She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018

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