DAP: The breaking news in Cambodia: “Cambodia fully supports Cuba against Embargo and Palestine as Fully member of UN” plus 9 more

CAMBODIA, PHNOM PENH, Sept 06, 2011-Cambodian Foreign Minister Hor Namhong on Tuesday announced that the country has fully supported the lifting the embargo against Cuba and supported Palestine as full member of UN in the upcoming the UN general assembly.

The announcement was made during the meeting of anon-aligned movement in Serbia on 5-6 September.

"May I renew Cambodia's call for the ending of the suffering of the Cuban People by lifting the unjust embargo against Cuba" The minister said, adding that Cambodia also fully supports Palestine's application to be a full member of the United Nations in the forthcoming UN general assembly.

The minister also highlighted Cambodia would like to share its experience with other countries in ending civil wars and managing smoothly post- conflict reconciliation and reconstruction.  in this spirit, Cambodia has presented its candidate for the term 2013-2014 for a non-permanent remember  of UNSC for very first time since it joined the UN in 1955 whose election will be held in 2012. While deeply thanking for the support extended by many NAM members so far.

"Cambodia hopes that other Non- aligned movement members would lend their backing for Cambodia's bid," He added.  Cambodia has contributed in recent years many hundreds of its soldiers in the framework of the UN peace keeping operations in several countries for demining and for other purposes. "We are now ready to dispatch more units to other parts of the world." he stresses.

CAMBODIA, PHNOM PENH, Sept 06, 2011- The National University of Management (NUM) will have a new rector tomorrow and Dr. Hor Peng will be appointed as new rector of the university, a professor said in anonymity on Tuesday.

Dr. Hor works at the royal university of law and economic (RULE) in Phnom Penh for years.

Students and professors at the NUM said Mr. Lor Socheat, rector of NUM was fired from the position due to violation of some legal mechanisms in this leading school in the country. "Mr. Lor  Socheat has been changed to a new job in urgent processing". They said.

MANILA, Sept. 6 (Xinhua) -- Despite inflation decelerating in August, fears of the global economy worsening were simply too much for investors to handle, prompting them to sell down their shares on Tuesday.

After opening 0.19 percent lower, selling intensified during the mid-session sending the bellwether Philippine Stock Exchange index to close down 1.81 percent or 79.48 points to 4,303.08. The broader all-share index also dipped by 1.4 percent or 43.08 points to 3,028.85.

Trading volume reached 8.2 billion shares worth 5.26 billion pesos (419.17 million U.S. dollars) with 122 stocks shedding their value and only 21 bucking the trend. A total of 26 shares were unchanged.

Brokerage DBP-Daiwa Securities, Inc. said investors opted to cut their exposures on Philippine stocks as global market sentiment remains gloomy with threats of another U.S. economic recession lingering on especially after the release of a disappointing U.S. jobs report.

"With a lack of clear impetus for investors to be at the buy side as again further downgrades from economists to their Philippine gross domestic product (GDP) outlook may soon come on stream, such could extend the consolidation of the local equities market," DBP-Daiwa Securities said.

Recently, big bank Hong Kong and Shanghai Banking Corp. has just lowered its GDP forecast for the country from 5.2 percent to 4.3 percent this year on the back of weaker-than-expected second quarter GDP growth.

The latest results from the treasury bill auction also show flight to safe haven investments as investors worry about relative return from stocks as downgrades in economic outlook could also taper off corporate valuations, DBP-Daiwa Securities said.

Hence, despite the local central bank reporting that August inflation slowed down to 4.3 percent from 4.6 percent in July, investors still opted to book their gains.

"Investors opted to discount a deteriorating outlook for European banks amid the region's struggle against correcting and containing its member-economies'debt position," analyst Justino Calaycay of Accord Capital Equities Corp. said separately.

Asian equities were also dragged down by the Euro woes. Likewise, U.S. futures slid, indicating a poor start when markets resume trades Tuesday night following a Labor Day break.

Except for two third-liner issues, all 18 most actively traded stocks closed in the negative. Some of these issues include San Miguel Corp., Ayala Land, Inc., and SM Investments Corp.

ISLAMABAD, Sept. 6 (Xinhua) -- At least ten people including four women were killed and several others injured as a bus fell into a ravine in southern Pakistani province of Sindh on Tuesday morning, reported local Urdu TV channel Express.

The bus carrying a number of people on their way back from a visit to a shrine plunged into a deep ravine in a mountainous area of Umer Kot district in southern Sindh province.

Rescue team including local paramilitary force rushed to the site and shifted all the injured to nearby hospitals.

The reason for the accident is not known.

Local media quoted Pakistani officials as saying that a total of 123 people have been killed in flood-ravaged southern Sindh province and eastern Punjab province since the monsoon rain began this summer.

SYDNEY, Sept. 6 (Xinhua) -- The Australian dollar fell on Tuesday but showed some resilience to stay above 105 U.S. cents, amid jitters over European sovereign debt and weaker than expected local trade data.

At the closing session, the Australian dollar was at 105.39 U.S. cents, down from Monday's close at 105.71 U.S. cents.

During the day, the local unit moved between a low of 104.97 U. S. cents and a high at 105.57 U.S. cents.

At 1700 local time, the Australian dollar was at 80.86 Japanese yen, down from Monday's close at 82.14 yen, and at 74.84 euro cents, up from 74.79 euro cents previously.

RAMADI, Iraq, Sept. 6 (Xinhua) -- Eight Iraqi soldiers were killed and another injured in an gunmen attack in Iraq's western province of Anbar on Tuesday, a provincial police source said.

The attack took place in the morning when gunmen wearing military uniforms attacked an Iraqi army convoy with their assault rifles near the city of Haditha, some 200 km west of Baghdad, the source from Anbar's operations command told Xinhua on condition of anonymity.

An officer was among the killed by the attack, the source said.

Iraqi security forces sealed off the area and carried out search operation for the attackers who fled the scene, the source added.

Insurgent attacks continue in the once volatile Sunni Arab area in west of Baghdad that stretches through Anbar province to Iraq's western borders with Syria, Jordan and Saudi Arabia.

SYDNEY, Sept. 6 (Xinhua) -- The Australian share market ended a third straight trading session in the red on Tuesday after extending earlier losses in the day on fresh concerns about European sovereign debt.

The benchmark S&P/ASX200 index was down 66.4 points, or 1.6 percent, at 4,075.5, while the broader All Ordinaries index fell 63.5 points, or 1.5 percent, to 4,160.7.

Market turnover was 2.13 billion shares changing hands for 5.56 billion AU dollars (5.86 billion U.S. dollars), with 265 stocks up, 780 down and 311 unchanged.

In the banking sector, National Australia Bank was down 2.77 percent, or 63 cents, at 22.14 dollars, Westpac lost 48 cents to 19.50 dollars, Commonwealth Bank fell 41 cents to 45.98 dollars and ANZ Bank shed 15 cents to 19.26 dollars.

In the resources sector, Rio Tinto shares were down 1.38 dollars, or 1.98 percent, to 68.41 dollars and BHP Billiton was down 82 cents, or 2.2 percent, at 36.88 dollars.

(1 AU dollar equals 1.0539 U.S. dollars)

CANBERRA, Sept. 6 (Xinhua) -- Given global uncertainties, HSBC' s chief economist in Australia, Paul Bloxham on Tuesday told Xinhua he expected the Reserve Bank of Australia (RBA) will put the interest rate on hold for the rest of the year.

Recently, there has been plenty of speculation about a rate rise and a rate cut, but the RBA on Tuesday announced to keep the interest rate on hold at 4.75 percent.

Bloxham, former RBA economist, said weak growth in the U.S. and Europe will continue to affect Australia's business and household confidence, and through its impact on equity markets, and through some hiring decisions.

"Given the global uncertainties, we expect them to be on hold for the rest of this year," Bloxham told Xinhua in an email note on Tuesday.

In a statement released on Tuesday, RBA governor Glenn Stevens said conditions in financial markets have been very unsettled in recent weeks, adding that the outlook for the global economy is less clear than it was earlier in the year. He said at future meetings the board will continue to carefully assess the evolving outlook for growth and inflation, but that for now, the current cash rate is appropriate.

Bloxham said the statement pointed out that although the RBA is keeping a close eye on domestic inflation, international volatility is a bigger concern.

"These problems that the U.S. faces and the Europeans face are really large, intractable problems and they will take quite a bit of time to resolve those things," he said.

"So we don't expect that it's going to be going away any time soon and this is a key reason why we've really pushed out our rates call until next year."

Meanwhile, due to the outlook for inflation, the mining boom and high commodity prices, Bloxham said he expects the next interest rate move will be up, instead of down as expected from other major banks.

"We still think the next move will be up, with the next rise expected in (first quarter) Q1 2012," he said.

The Australian dollar jumped about one-third of a cent in response to RBA's decision, at about 2:45 p.m. (AEST) on Tuesday. It was worth 105.25 U.S. cents.

The RBA last raised the interest rate for 0.25 percent to 4.75 percent in November 2010.

SEOUL, Sept. 6 (Xinhua) -- South Korean shares ended 1.07 percent lower on Tuesday as appetite for safer assets remained strong among investors after the U.S. job growth stalled last month, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 19. 12 points, or 1.07 percent, to close at 1,766.71. Trading volume stood at 496.76 million shares worth 6.48 trillion won (6.03 billion U.S. dollars).

The KOSPI started lower on heavy losses of European stocks and the U.S. market close overnight for Labor Day holiday, and extended its earlier losses to fall below 1,750 at one time.

A rift between debt-ridden Greece and its creditors triggered massive sell-off in European stock markets, adding concerns to investors, who have been already worried about the global economic slowdown after the U.S. job growth stood at zero in August.

The key index, however, pared its earlier losses, helped by aggressive buying of retail investors, and rose to 1,790.47 at one time earlier in the session.

After swinging in and out of positive territory, the KOSPI ended lower as foreign investors dumped local shares heavily. But, the index pared its losses in the late session due to continued buying of retail investors and late-session buying of national pension funds.

Offshore investors dumped a net 433.6 billion won worth of local shares, but retail investors bought a net 434.5 billion won worth of stocks. Local institutions turned to net buyers worth 14. 9 billion won after selling shares earlier in the session.

"Appetite for safe haven has recently emerged among investors. Those sentiment continued to trigger the decline in local stocks," Lee Kyung-soo, an analyst at Shinyoung Securities in Seoul, told Xinhua.

Lee noted that the tech-laden KOSDAQ fell sharp lower compared with the KOSPI, saying investors were reluctant to buy the small- and mid-cap shares, which means risk-aversion sentiment is spreading in the local stock market. The KOSDAQ index dropped 3.14 percent to close at 465.35.

Tech shares led the market decline on foreign selling. Market bellwether Samsung Electronics lost 0.55 percent to 727,000 won, and its local rival LG Electronics fell 1.5 percent to 59,100 won. Memory chip giant Hynix Semiconductor slid 3.13 percent to 17,000 won, and flat screen maker LG Display dropped 4 percent to 18,000 won.

Bank shares kept its losing streak on lingering concerns over the European banking sector. The nation's largest banking group by assets Woori Finance Holdings slipped 1.44 percent to 10,250 won, and the No.1 bank Kookmin Bank sank 1.98 percent to 39,650 won.

However, auto shares ended bullish on retail buying. Top automaker Hyundai Motor gained 1.32 percent to 192,000 won, and its affiliate Kia Motors rose 1.82 percent to 67,200 won.

Steelmakers gained ground on local brokerage's report that the steel industry will hit bottom in the third quarter. Top steelmaker POSCO rose 1.77 percent to 403,000 won, and its smaller rival Hyundai Steel jumped 4.5 percent end at 104,500 won.

The local currency finished at 1,074.9 won against the greenback, down 6.1 won from Monday's close.

Bond prices ended mixed. The yield on the liquid three-year treasury notes finished unchanged at 3.35 percent, and the return on the benchmark five-year government bonds lost 0.01 percentage point to 3.45 percent.

HONG KONG, Sept. 6 (Xinhua) -- Taiwan's share prices closed lower Tuesday with the weighted index down 184.38 point, or 2.44 percent, to close at 7,367.19, according to news reaching here from Taipei. Turnover totaled 106.06 billion new Taiwan dollars (about 3.64 billion U.S. dollars) during the trading session.