Cambodia Morning News For November 15

Russia promises to send team to observe Cambodia’s elections next year
Russian Prime Minister Dmitry Medvedev reportedly told Prime Minister Hun Sen during their meeting on the sidelines of the Asean summit in Manila on Sunday that Russian would provide support for Cambodia’s national elections and would send a team of observers to monitor the elections.
— Thai PBS

Government reduces tax load on MFIs receiving money from abroad
The Ministry of Economy and Finance (MEF) recently decided to shrink the tax burden for local microfinance institutions (MFIs) by lowering withholding tax on interest from loans acquired from abroad from 14 to 10 percent, a move that the government claims will keep the massive sector sustainable.
— The Phnom Penh Post

US Rejects Charges of Interfering in Cambodian Politics, But Criticizes Crackdown
U.S. diplomats pushed back on Tuesday against Cambodian government accusations that the United States has meddled in Cambodia’s internal affairs, calling the charges unfounded and harmful to improved and productive relations between the two countries.
— Radio Free Asia

Analysis: Judge who will decide the fate of the CNRP is a trusted member of the CPP
The decision to preserve or to dissolve the country’s main opposition party will fall on Thursday to a judge listed as a member of the ruling CPP’s most exclusive committee, and whose close ties to Prime Minister Hun Sen stretch back more than three decades.
— The Phnom Penh Post

Bangladesh cancels rice deal with Cambodia over shipment delay
Bangladesh has cancelled its first-ever deal with Cambodia to import 250,000 tonnes of white rice over a delay in shipments, officials at the state grains buyer said on Tuesday.
— Business Recorder

NBC brings in $500K at latest liquidity auction
The National Bank of Cambodia yesterday held its 14th liquidity-providing collateralised operation, making 20 billion riel ($4.5 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

Cambodia: Democracy Faces Death
Cambodia’s Supreme Court should resist government pressure to rule on dissolving the country’s main opposition party, Human Rights Watch said today.
— Human Right Watch

Ministry bans buying, selling of antibiotics without prescription
A Ministry of Health official yesterday said the ministry has banned the buying and selling of antibiotics without a prescription in an effort to curb the overuse that has led to an alarming level of antibiotic resistance in the Kingdom.
— The Phnom Penh Post

China pledges UXO funding days after US spat
Prime Minister Hun Sen announced yesterday that China will begin funding demining efforts, just days after the US said it would pull financial support for a removal project with the Cambodian Mine Action Centre in the eastern part of the country.
— The Phnom Penh Post

E-shops get creative with Facebook
Despite the contentious rollout of Facebook’s Explore feed that shifts public posts away from private newsfeeds and into a hard-to-find channel, online shopping through social media has thrived in Cambodia with business owners live streaming an array of products to prove authenticity and boost sales.
— The Phnom Penh Post

Angkor Gold ends deal with miner Blue River
Canadian mining firm Angkor Gold Corp has terminated its earn-in exploration agreement with Vancouver-based junior mining firm Blue River Resources Ltd, putting an end to the latter’s drilling on Angkor’s gold- and copper-rich Banlung Tenement, according to a statement released by Angkor yesterday.
— The Phnom Penh Post

First three winners of Smart Axiata fund announced
The first three recipients of funding from the Smart Axiata Digital Innovation Fund (SADIF), a $5 million venture capital fund committed to digital service companies and startups, were announced yesterday, while Smart also welcomed Forte Insurance (Cambodia) Plc as a co-investor in the fund.
— The Phnom Penh Post

Feature photo World Bank Photo Collection/Chhor Sokunthea
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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.