Day: September 7, 2022

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Cambodia Issued First Gov’t Bond Of 24.3 Million USD

PHNOM PENH, Sept 7 (NNN-AKP) – The National Bank of Cambodia (NBC), Cambodia’s central bank, today issued the first government bond of 100 billion riels (about 24.3 million U.S. dollars), aiming to raise funds for national development.

The bond is auctioned through the NBC’s platform from 8.00 a.m. to 2.00 p.m. local time, the NBC said, adding, the face value per unit is worth one million riels (about 243 dollars).

The bond offers a fixed interest rate of two percent per annum, which would be paid every six months, the NBC said, adding that, the tenure of the bond is one year.

The issuance is the first phase of the Cambodian government’s plan to issue sovereign bonds worth a total of 300 million dollars, it said.

Kim Sophanita, director of the Market Operations Department at the Cambodia Securities Exchange (CSX), said, the Cambodia capital market has moved to another stage of development with a more complete and adequate infrastructure.

“The government bond market is crucial and beneficial to every stakeholder,” the official said.

“It provides additional financing option to the government, additional investment options to institutional investors, additional financial instrument for effective monetary policy management, a benchmark for every financial product, and more,” Sophanita added.

Investors in sovereign bonds will enjoy a 50-percent deduction of withholding tax on the interest earned from holding and trading the bonds, and tax exemption on capital gains from purchasing and trading the bonds for three years, according to the Ministry.

Deputy Prime Minister and Minister of Economy and Finance, Aun Pornmoniroth, said recently that, sovereign bonds will allow the government to raise funds for socio-economic development projects.

He added that the bonds will serve as a new financial instrument for institutional investors, such as banks, insurance companies, the National Social Security Fund and pension fund, among others.

Source: NAM NEWS NETWORK

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ADB Launches Program to Scale Up Investments in Air Quality Improvement

MANILA, PHILIPPINES — The Asian Development Bank (ADB) today launched the Asia Clean Blue Skies Program (ACBSP) to scale up ADB’s investments in improving air quality in Asia and the Pacific.

Launched at the joint forum of the Fourth Asia Pacific Clean Air Partnership in the Republic of Korea, ACBSP will support the preparation and strengthening of policies and plans in ADB’s developing member countries (DMCs) to stimulate investments in projects that benefit air quality such as greenhouse gas reduction in energy, agriculture, transport, industrial, and urban development, among other sectors.

“Air pollution endangers not just public health, but also significantly threatens the environment, ecosystems, and food security of the region,” said the Director General of ADB’s Sustainable Development and Climate Change Department Bruno Carrasco. Through ACBSP, ADB will support the improvement of design and monitoring of projects in a way that boosts air quality in its DMCs.

ACBSP will be implemented from the fourth quarter of 2022 until 2030 and will leverage technical and financial resources of ADB and its partners to build the capacity of DMCs on the design and implementation of investment projects with air quality and low carbon benefits. The program will support DMCs in meeting their nationally determined contributions to achieve carbon neutrality and meet commitments under the Paris Agreement.

ADB has financed more than $2.5 billion in investments in air pollution reduction in the region in the past 8 years. All investment projects financed or administered by ADB that have environmental safeguard requirements are required to assess the air quality impacts of the projects and monitor air quality during project implementation.

ADB aims to provide $100 billion in cumulative climate finance to its DMCs from 2019 to 2030.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

Source: Asian Development Bank

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Visa-On-Arrival Policy Helps Boost Indonesia’s Tourism Recovery

JAKARTA– The visa-on-arrival policy has helped boost Indonesia’s tourism recovery, encouraging more international travellers to visit Indonesia, especially to the resort island of Bali, Tourism and Creative Economy Minister, Sandiaga Uno, said.

“The number of foreign tourists in July was the highest since the COVID-19 pandemic,” said the minister.

The country recorded 476,970 international visitors arriving in July, a 61-fold increase over the same month last year, including 246,504 visitors to Bali, according to Statistics Indonesia (BPS).

From Jan to Jul, 1.22 million international travellers visited Indonesia.

Source: NAM NEWS NETWORK

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Chinese Film Festival Will Bring 100 Years Of History To Malaysian Audiences

KUALA LUMPUR– Malaysian audiences will get to experience 100 years of Chinese filmmaking, during an upcoming film festival, which will be held here from Sept 15 to Sept 18, the China Cultural Centre in Kuala Lumpur announced yesterday.

With the theme of “China Film Centennial – The Inheritance of Films,” the festival will feature a total of 18 outstanding Chinese productions in recent years, restored classic films and two local Malaysian films, it said in a statement.

“This film festival also portrays major cinematic achievements of the Chinese film industry and showcases the great potential of collaboration between Chinese and Malaysian filmmakers. It is hoped that film can be the special medium that pulls together Chinese and Malaysian talents, and continue to use this medium to tell great stories and forge new friendships,” Zhang Jiexin, the centre’s director, said.

Film exchange between China and Malaysia spans over a century. This year marks the 100th anniversary of the earliest Chinese silent film available today. The silent film, ‘New Friend,’ produced in 1927, is also the first Chinese silent film shot entirely in Singapore and Malaya.

Some of the Chinese films to be screened include Cliff Walkers, Hi, Mom, A Writer’s Odyssey, Leap, and The Wandering Earth.

Chinese-Malaysian co-productions include On Your Mark and Three Adventures of Brooke; animation Boonie Bears: Back to Earth and White Snake, while restored films from the 1920s to the 1960s include Labourer’s Love and Uproar in Heaven, and the documentary The Great Learning, as well as, the Chinese opera, White Snake, are also listed.

This year’s festival is a collaborative effort brought to audiences by the China Film Archive, entrusted by China Film Administration, in partnership with the China Cultural Centre in Kuala Lumpur and the Chinese Film Association of Malaysia.

Source: NAM NEWS NETWORK

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FILIPINO SHORT FILM RECEIVES APPLAUSE AT THE OPENING NIGHT OF ASEAN + 3 FILM FESTIVAL IN PRAGUE

PRAGUE 07 September 2022 – Described as “one of a kind”, Arjanmar Rebeta’s 12-minute short film “An Sadit na Planeta” (The Little Planet) received a warm applause from about 400 guests at the opening night of the ASEAN+3 Film Festival held at the Prague Municipal Library on 01 September 2022.

Philippine Embassy in Prague Chargé d’affaires Indhira C. Bañares remarked how Mr. Rebeta’s use of the 40-day journey took viewers back to a time when lockdowns were the norm because of the global health pandemic. “It was not only symbolic but could also be a period of trial, difficulty or judgment to many, leading viewers to think about their freedom and the planet we live in”, added Chargé d’affaires Bañares.

Deputy Foreign Minister Martin Tlapa, for his part, recognized the role of films in achieving a better understanding of each other’s cultures and in complementing the task of diplomacy.

A total of nine short films were featured at the opening night of the film festival while full-length films from the Philippines, Indonesia, Malaysia, Myanmar, Thailand, Vietnam, China, Japan and Korea will be shown nightly from 02 to 10 September 2022.

As the Philippines was the first country to show a full-length film, Chargé d’affaires Bañares invited the guests to watch Quezon’s Game and “be inspired by the humanity of our former President Manuel L. Quezon who chose to open the doors of the Philippines to those in need of shelter and refuge.”

Source: Republic of Philippines Department Of Foreign Affairs