World Economic : There’s a light at the end of the tunnel.

World Economic  : There’s a light at the end of the tunnel.

Better US economic growth,  earnings drive stocks 

Steady growth in the U.S. economy and higher company earnings are pushing the stock market higher in early trading.

The Dow Jones industrial average was up 45 points, or 0.3 percent, to 15,566 after the first few minutes of trading.

The Standard & Poor's 500 index was up four points, also 0.3 percent, to 1,690. The Nasdaq composite rose 16 points, or 0.5 percent, to 3,633.

Bond yields rose after the government reported that the U.S. economy grew at an annual rate of 1.7 percent in the second quarter, more than economists were expecting.

The yield on the 10-year Treasury note rose to 2.69 percent from 2.61 percent.

MasterCard rose 3 percent to $620.73 after reporting a 19 percent increase in second-quarter profit as more people worldwide used its cards.

Resource from:

http://www.thejakartapost.com/news/2013/07/31/better-us-economic-growth-earnings-drive-stocks.html

 Eurozone jobless down for  first time in 2 years 

Further evidence emerged Wednesday that the eurozone economy is on the mend after struggling with a recession that's seen unemployment edge toward the 20 million mark.

Figures from Eurostat, the EU's statistics office, showed that the number of unemployed across the 17 European Union countries that use the euro fell by 24,000 in June to 19.27 million. That's the first fall since April 2011 and adds to the weight of recent evidence that suggests the recession in the eurozone has — or is about to — come to an end.

"While the latest data are far from suggesting a quick turnaround, the stabilization provides some relief from the relentless rise in the number of unemployed to date," said Timo del Carpio, European economist at RBC Capital Markets.

The eurozone's economy has been shrinking since the last quarter of 2011 as a raging debt crisis prompted many countries to pursue tough austerity policies that weighed on economic activity and confidence.

However, many analysts think figures next month will show the region may have eked out modest growth during the second quarter, thanks mainly to a rebound in Germany, Europe's biggest economy.

On top of that, other countries' output — even for those at the forefront of Europe's debt crisis — do not appear to be contracting on such a large scale as earlier on in the year.

That's partly due to a combination of the scale of spending cuts and tax increases in certain countries easing in the last few months and a calmer backdrop in financial markets. Another reduction in the European Central Bank's main interest rate to the record low of 0.5 percent has also helped to shore up economic activity.

Figures this week showed that the Spanish recession nearly ended in the second quarter while there are hopes that even Greece — the epicenter of the region's debt woes — may start growing again at the end of this year following a recession that's wiped out around a fifth of the country's output.

Since unemployment started rising again over two years ago, nearly 4 million people have lost their jobs in the eurozone and that's lifted the overall unemployment rate to 12.1 percent from around the 10 percent mark. That provides a stark contrast to the U.S., where the jobless rate has steadily fallen to 7.6 percent.

One of the most damaging effects of the eurozone's return to recession has been an inexorable rise in unemployment particularly of the young. In June, 3.53 million people aged under 25 were unemployed in the eurozone. The unemployment rate among the region's young rose slightly between May and June from 23.8 percent to 23.9 percent.

"A situation in which almost a quarter of young people who are available for work cannot find a job is storing up significant social and economic problems for the future," said Andrea Broughton, Principal Research Fellow at the Institute for Employment Studies.

Overall, the eurozone's unemployment rate was also lower than expected — though at a record high. At 12.1 percent in June, it's unchanged on the previous month following a downward revision to May's original 12.2 percent estimate.

Wednesday's figures are only one month but they do provide some hope that there is now light at the end of the tunnel. In Spain, for example, the number of unemployed fell to 5.96 million from the previous month's 6 million and that pulled the jobless rate down to 26.3 percent from 26.4 percent.

Despite that moderately encouraging signal, Spain's youth unemployment rate rose again in June to 56.1 percent from the previous month's 55.8 percent. The situation in Greece is even worse, with 58.7 percent of under 25s out of work in April, up from the previous months' 58.5 percent — Greece's figures are compiled on a different timeframe. In April, Greece's overall unemployment rate stood at 26.9 percent, just up on the previous month's 26.8 percent.

Wednesday's figures once again highlighted the huge disparities across the eurozone with some countries, such as Austria and Germany operating near what economists term full employment — the level where those seeking work more or less corresponds to those employed.

Separately, Eurostat reported that consumer price inflation in the eurozone was unchanged at 1.6 percent in the year to July, in line with expectations.

Though inflation remains below the European Central Bank's target of keeping annual price rises just below 2 percent, rate-setters are expected to keep the bank's main interest rate unchanged at 0.5 percent following the conclusion of their monthly policy meeting on Thursday.

"Signs that the euro area is emerging from recession and accelerated inflation have eased pressure on the ECB to cut rates," said Tomas Holinka, economist at Moody's Analytics.

Resource from:

http://www.thejakartapost.com/news/2013/07/31/eurozone-jobless-down-first-time-2-years.html

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Cambodia : The battleground seats

Cambodia : The battleground seats

Siem Reap
6 seats

Though Siem Reap has long been a ruling-party stronghold (the CPP won four of six seats here in 2003, increasing their spoils to five of six seats in 2008), if recent opposition rallies are anything to go by, the province could be one of the more competitive domains in this election.

An estimated 100,000 supporters turned out to greet Sam Rainsy there Wednesday, possibly matching the number that turned out in Phnom Penh, the party’s traditional base, for his return from self-exile.

Rainsy’s rhetoric in Siem Reap aimed to exploit local sentiments that “Vietnamese” businesses have too much control over the province’s lucrative tourist trade.

Analysts also say that living standards in Siem Reap, which remains one of the Kingdom’s poorest provinces, will be a key issue.

Kampong Speu
6 seats

Despite being a relatively small province and one dominated by the CPP at the last national election, observers point to Kampong Speu as an area where competition between the two main parties will heat up in this election.

The now-merged SRP and HRP together won 34 per cent of total votes in last year’s commune elections, to the CPP’s 56 per cent, up from the 28 per cent of votes won between them in the 2008 national election.

In those same commune elections, parties other than the CPP were able to win 33 per cent of seats.

Old rivalries will also come to a head in Kampong Speu, with Pen Sovann, Cambodia’s first prime minister after the Khmer Rouge and a historic rival of Hun Sen, placed first on the CNRP ballot.

Hun Many, the premier’s youngest son and the first to run for office, is listed as a CPP candidate.

A successful election for him would signal the first step towards a new generation of CPP leadership.

Phnom Penh
12 seats

The Kingdom’s capital, worth a sizeable 12 seats, will always be an electoral battleground. In 2003, half the seats were won by the SRP, with the CPP and Funcinpec taking four and two seats respectively.

With Funcinpec’s 2008 electoral wipeout, the CPP took seven seats to the SRP’s five in 2008.

This election, observers are tipping the major parties to be in a dead heat for Phnom Penh, though some say the CNRP might have a slight edge.

Party heavyweights will also face-off in the capital, with CPP chairman/Senate president Chea Sim and former Phnom Penh governor Kep Chuktema running for the ruling party, while influential lawmaker Son Chhay and party spokesman Yim Sovann are on the CNRP ballot.

Kampong Cham
18 seats

The most populous province, with a mammoth 18 seats on offer, and home to many of the Kingdom’s sizeable Muslim Cham minority, Kampong Cham was one of the most contested provinces in the 2012 commune elections (where non-ruling parties managed to win 40 per cent of the total available seats).

The CPP won 11 seats here in 2008, but analysts expect the opposition to make further inroads this election. In a sign of the province’s clout, CNRP deputy president Kem Sokha and National Assembly president/CPP honorary chairman Heng Samrin are both running here as candidates, as is Foreign Minister Hor Namhong.

Funcinpec’s president, Princess Norodom Arun Rasmey, is also running in Kampong Cham and hopes to retain the seat won in 2008 by a fellow royalist from the now-defunct Norodom Ranariddh Party (with which Funcinpec recently merged).

Prey Veng
11 seats

Although the CPP picked up seven of the 11 seats available in Prey Veng in 2008 on the back of Funcinpec’s decline, the province was the most contested in the 2012 commune elections.

In last year’s election, the HRP and SRP polled a total of 210,209 votes to the CPP’s 258,716 votes. Now that the opposition parties have merged into the CNRP, Prey Veng could shape up for a major showdown.

Given that the province is located on the border with Vietnam, observers say the CNRP’s anti-Vietnamese rhetoric will appeal to Prey Veng voters.

Kandal
11 seats

With 11 seats on offer, Kandal province, home to Prime Minister Hun Sen’s National Assembly seat, has been labelled by some observers as “the province to watch” this election.

In 2008, the SRP held on to three seats in the province. Its current CNRP alliance partner, the HRP, also picked up a seat amid the Funcinpec implosion that saw the royalists lose all three of their seats in the province.

The opposition will be hoping to claw back some of the CPP’s seven seats in Kandal come Sunday, but with Hun Sen’s reputation on the line, the ruling party is likely to do all it can to remain dominant.

Resource from:
http://www.phnompenhpost.com/national/battleground-seats

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Cambodia : Cambodians go to polls as PM Hun Sen seeks to extend grip on power

Cambodia : Cambodians go to polls as

 PM Hun Sen seeks to extend grip on power

The former Khmer Rouge fighter turned prime minister appears so confident of victory that he did not even bother to personally campaign for the parliamentary election.

Galvanised by the return from exile of their leader Sam Rainsy, his political foes have injected some rare competition into the race.

But the opposition has also decried signs of voter fraud and warned a Hun Sen win will be "worthless" without Mr Rainsy's participation.

The French-educated former banker returned to Cambodia on July 19 from self-imposed exile after receiving a surprise royal pardon for criminal convictions which he contends were politically motivated.

But he is barred from running as a candidate since the authorities said it was too late to add his name to the electoral register.

"If the prime minister wants to keep his position he must be brave enough to confront me," Mr Rainsy said on the eve of the vote.

"It's very unfair and shows that the current prime minister is really a coward," he added.

His Cambodian National Rescue Party (CNRP) says many names have disappeared from the electoral roll while thousands of people could not vote as someone else had already used their ballot.

Party spokesman said Yim Sovann the ink used for voting was also easily washed off.

"The situation is more serious than at any previous election," he said.

Ruling party confident of landslide

New York-based Human Rights Watch has warned the vote will be anything but free and fair, highlighting alleged manipulation of voter rolls and campaigning by senior security forces officers for the ruling Cambodian People's Party (CPP).

"The process has been manipulated to ensure victory for the ruling party," said HRW Asia director Brad Adams.

While the government denies the allegations, CPP spokesman Khieu Kanharith said the party was confident of another landslide.

"We expect to keep an absolute majority," he said.

About 9.6 million people are registered to vote - more than one-third of whom are below the age of 30.

Hun Sen oversaw Cambodia's transformation from a nation devastated by the Killing Fields genocide era to become one of Southeast Asia's most vibrant economies.

The 60-year-old premier - who has vowed to rule until he is 74 - is regularly accused of trampling on human rights and quashing political dissent.

And while garment exports and tourism have brought double-digit economic growth, Cambodia remains one of the world's poorest countries.

Resource from:

http://www.abc.net.au/news/2013-07-28/cambodians-go-to-polls-but-opposition-cries-foul/4848766

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Cambodia : Sam Rainsy’s request for immunity rejected

Cambodia : Sam Rainsy’s request 
for immunity rejected

Opposition leader Sam Rainsy’s request to have his parliamentary immunity restored before Sunday’s national election was refused yesterday by the National Assembly permanent committee — which consists wholly of ruling Cambodian People’s Party lawmakers.

“The permanent committee has unanimously decided that because [Rainsy] has become a president of [Cambodia] National Rescue Party — which does not have seats in … parliament — that it cannot restore … immunity,” National Assembly president Heng Samrin wrote in a letter to Rainsy.

The granting of Rainsy’s request could have allowed the pardoned leader to make one final bid to be registered as a candidate.

In June, the same committee stripped opposition lawmakers of their political status, claiming they had broken the law by joining the CNRP after winning their seats as Sam Rainsy Party and Human Rights Party members. Those two parties merged to become the CNRP last year.

Rainsy wrote to Samrin on Tuesday, asking for his immunity to be restored, citing a law that states that “any lawmaker convicted and granted a pardon from the King will have his immunity restored”.

On Monday, the National Election Committee ruled that Rainsy’s name will remain off its lists, meaning he is ineligible to run as a candidate or vote.

Nguon Nhel, first deputy of the National Assembly, said Rainsy had forfeited his immunity by resigning from the SRP.

Rainsy not being allowed stand as a candidate would not affect the legitimacy of the election and observers would still recognise the result, he added.

CNRP spokesman Yim Sovann disagreed.

“An opposition party president who does not have his name in the voter list and cannot stand as a candidate — how is this election free and just?” he said.

Koul Panha, executive director of election monitor Comfrel, said the committee’s refusal to restore Rainsy’s immunity was contrary to constitutional law.

“The [parliamentary] law contradicts constitutional law. [Constitutionally], refusing to restore [Rainsy’s immunity] is not legal,” he said.

Resource from:

http://www.phnompenhpost.com/national/sam-rainsy%E2%80%99s-request-immunity-rejected

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Indonesia : International meetings boost tourist arrivals in Bali

Indonesia : International meetings boost tourist arrivals in Bali 

Many international conferences hosted in Bali have played an important role in the 9 percent boost to the growth rate of foreign visitors.

The Bali Tourism Agency recorded as many as 1,492,971 foreign tourists arriving from January to June this year, which shows a 9 percent growth on the figures for the same period last year.

Australia continues as the largest tourist contributor with 384,552 people, followed by China (187,709 people), Japan (96,013), Malaysia (93,200), Singapore (63,510), South Korea (60,929), Taiwan (58,265), the UK (51,843), the US (49,986) and France (46,496).

Head of Bali Tourism Agency, Ida BagusKadeSubhiksu, was delighted to see the early surge as of June, while peak visitor arrivals will occur in July and August.

Subhiksu cited a number of international events held in June, including an international triathlon, the World Hindu Summit, Indo Livestock Expo and Forum, Bali Surf Competition, Southeast Asia Travel and Tourism, and the East Asia Geology, Exploration and Technology Conference, just to name a few of the events that played an important role in boosting tourist arrivals.

“Bali has become globally known as an international destination. These international-scale activities also play a significant part in boosting arrivals,” said Subhiksu.

Subhiksu expressed his optimism that he would see an even higher surge in July, August and September, when the Miss World event will be hosted, followed by the APEC Summit in October, and other events.

Every year, hundreds of international- and national-scale meetings, incentives, conventions and exhibitions, also known by the abbreviation MICE, with hundreds and thousands of participants are hosted in Bali.

The number of MICE events is increasing, with the support of improved facilities and capacity. MICE events also encourage growth in businesses like hotels, hall rentals, exhibition and conference organizers, booth providers, stage builders, food suppliers, florists, transportation services, printing and souvenir companies.

Subhiksu said that Bali expected to be able to compete globally, which was why MICE facilities were being improved all the time, even to the construction of a new convention center in Nusa Dua with a capacity for thousands of participants.

Deputy Tourism and Creative Economy Minister SaptaNirwandar acknowledged that MICE tourism in Bali and Indonesia had grown significantly over past few years.

“Event organizers are always searching for the perfect places to host their occasions. Indonesia, and especially Bali, has had a good reputation for providing such places,” said Sapta, adding that Bali, and Indonesia in general, was eyeing the Asia Pacific as a potential market for MICE events.

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Thailand : สมศ.เผยผลประเมินครึ่งแรกไม่รับรอง 3 สถาบันอุดม “วท.ลุ่มน้ำปิง-ม.หาดใหญ่-ม.เนชั่น”

Thailand :  สมศ.เผยผลประเมินครึ่งแรก

ไม่รับรอง 3 สถาบันอุดม “วท.ลุ่มน้ำปิง-ม.หาดใหญ่-ม.เนชั่น” 

สมศ.เผยผลประเมินครึ่งแรกไม่รับรอง 3 สถาบันอุดม “วท.ลุ่มน้ำปิง-ม.หาดใหญ่-ม.เนชั่น” ขณะที่ภาพรวม ม.ในกำกับ ม.รัฐ ได้รับรอง 100% ส่วน มรภ.รับรอง 33 แห่ง เว้น มรภ.กาญจนบุรี รับรองแบบมีเงื่อนไข “ชาญณรงค์” แนะ มหา’ลัยที่ไม่ได้รับรองหรือรับรอง ส่งแผนปรับปรุงให้ สกอ.และต้องทำได้ภายใน 2 ปี ส่วนปัญหาภาพรวมยังขาดการสร้างงานวิจัย และเผยแพร่ในวารสารที่เป็นที่ยอมรับระดับนานาชาติ

       นายชาญณรงค์ พรรุ่งโรจน์ ผู้อำนวยการสำนักงานรับรองมาตรฐานและประเมินคุณภาพการศึกษา (สมศ.) เปิดเผยว่า ตามที่ สมศ.ทำการประเมินคุณภาพภายนอกรอบ 3 (พ.ศ.2554-2558) ระดับอุดมศึกษา ขณะนี้ สมศ.ประเมินเสร็จเรียบร้อยแล้วจำนวน 136 แห่งจากที่ต้องประเมินทั้งหมดกว่า 200 แห่ง โดยสถาบันอุดมศึกษาที่ได้รับการรับรองจำนวน 131 แห่ง แบ่งเป็น รับรองระดับดีมาก 32 แห่ง ระดับดี 99 แห่ง รับรองแบบมีเงื่อนไขจำนวน 2 แห่ง คือ มหาวิทยาลัยภาคกลาง และมหาวิทยาลัยราชภัฏ (มรภ.) กาญจนบุรี และ ไม่รับรองจำนวน 3 แห่ง คือ วิทยาลัยลุ่มน้ำปิง มหาวิทยาลัยหาดใหญ่ และมหาวิทยาลัยเนชั่น โดย สมศ.จะนำรายชื่อมหาวิทยาลัยทั้งหมดเข้าสู่การพิจารณาของคณะกรรมการรับรองมาตรฐานและ ประเมินคุณภาพการศึกษา (สมศ.) ก่อนประกาศรายชื่อขึ้นเว็บไซต์ของ สมศ.ต่อไป ส่วนที่เหลือกำลังอยู่ระหว่างการประเมิน 

       
       ทั้งนี้ แยกเป็นสังกัดได้แก่ สถานศึกษาสังกัด สกอ.จำนวน 88 แห่ง ได้รับการรับรองทั้งหมด 83 แห่ง คิดเป็น 94.32% แบ่งเป็น รับรองระดับดีมาก 14 แห่ง คิดเป็น 15.91% รับรองระดับดี 69 แห่ง คิดเป็น 78.41% ไม่รับรอง 3 แห่ง คิดเป็น 3.41% และรับรองแบบมีเงื่อนไข 2 แห่ง คิดเป็น 2.27% สังกัดกระทรวงสาธารณสุข (สธ.) จำนวน 38 แห่ง ได้รับการรับรองทั้งหมด 38 แห่ง คิดเป็น 100% แบ่งเป็น รับรองระดับดีมาก 18 แห่ง คิดเป็น 47.37% รับรองระดับดี 20 แห่งคิดเป็น 52.63% สังกัด กระทรวงกลาโหม จำนวน 5 แห่ง ได้รับการรับรองในระดับดีทั้ง 5 แห่ง สังกัดกระทรวงคมนาคม จำนวน 2 แห่ง ผ่านการประเมินระดับดีจำนวน 2 แห่ง สังกัดกระทรวงการท่องเที่ยวและการกีฬา จำนวน 1 แห่ง ผ่านการรับรองระดับดีจำนวน 1 แห่ง สังกัดกระทรวงเกษตรและสหกรณ์ จำนวน 1 แห่งผ่านการประเมินระดับดีมากจำนวน 1 แห่ง และสังกัดสภากาชาดไทย จำนวน 1 แห่ง ผ่านการประเมินระดับดีจำนวน 1 แห่ง

 ผอ.สมศ.กล่าวต่อว่า ขณะที่หากจำแนกตามประเภทสถานศึกษา มหาวิทยาลัยในกำกับรัฐ หรือ ม.นอกระบบ จำนวน 8 แห่ง ได้รับการรับรองทั้งหมด 8 แห่ง คิดเป็น 100% แบ่งเป็นรับรองระดับดีมาก 4 แห่ง คิดเป็น 50% และรับรองระดับดี 4 แห่ง คิดเป็น 50% มหาวิทยาลัยรัฐบาล จำนวน 7 แห่ง ได้รับการรับรอง 7 แห่ง คิดเป็น 100% รับรองระดับดีมาก 4 แห่ง คิดเป็น 57.14% และรับรองระดับดี 3 แห่ง คิดเป็น 42.86% มหาวิทยาลัยราชภัฏ จำนวน 34 แห่ง ได้รับการรับรอง 33 แห่ง คิดเป็น 97.06% รับรองระดับดีมาก 1 แห่ง คิดเป็น 2.94% ระดับดี 32 แห่ง คิดเป็น 32% และรับรองแบบมีเงื่อนไข 1 แห่ง คิดเป็น 2.94% สถาบันเอกชน จำนวน 39 แห่ง รับรอง 35 แห่ง คิดเป็น 89.74% รับรองระดับดีมาก 5 แห่ง คิดเป็น 12.82% ระดับดี 30 แห่ง คิดเป็น 62.50% ไม่รับรอง 3 แห่ง คิดเป็น 7.69% และรับรองแบบมีเงื่อนไข 1 แห่ง คิดเป็น 2.56% สถาบันเฉพาะ จำนวน 48 แห่ง ได้รับการรับการรับรอง 48 แห่ง คิดเป็น 100% ระดับดีมาก 18 แห่ง คิดเป็น 37.50% ระดับดี 30 แห่ง คิดเป็น 62.50%
       
       “สำหรับมหาวิทยาลัยที่ สมศ.ไม่รับรองทั้ง 3 แห่ง และรับรองแบบมีเงื่อนไข 2 แห่งจะต้องส่งแผนประเมินไปให้ต้นสังกัด คือ สำนักงานคณะกรรมการการอุดมศึกษา (สกอ.) และปรับปรุงให้ได้ตามแผนภายใน 2 ปี ทั้งนี้จากการวิเคราะห์ผลการประเมินในครึ่งแรก ถือว่ามีมหาวิทยาลัยผ่านประเมินถึง 96.32% ถือว่ามาก โดยอาจเป็นเพราะมหาวิทยาลัยต่าง ๆ คุ้นเคยกับการประเมินของ สมศ.มากขึ้น และนำผลการประเมินทั้ง 2 ครั้งที่ผ่านมาพัฒนาการเรียนการสอนให้ได้มาตรฐานตามที่กำหนด”ผอ.สมศ.กล่าว
       
       นายชาญณรงค์ กล่าวอีกว่า อย่างไรก็ตาม ประเด็นที่เป็นปัญหาในภาพรวมของสถาบันอุดมศึกษาไทยนั้น ในภาพใหญ่คือ ขาดการสร้างงานวิจัยที่ได้รับตีพิมพ์ในวารสารที่ได้รับการยอมรับระดับนานาชาติ และงานวิจัยที่สามารถนำไปใช้พัฒนาประเทศได้ ยังถือว่ามีน้อย ขณะที่ระบบการพัฒนาบุคลากรของมหาวิทยาลัยก็มีปัญหา เนื่องจากยังพบว่าวุฒิของอาจารย์ผู้สอนในมหาวิทยาลัย ยังมีอาจารย์ที่จบระดับปริญญาตรีอยู่จำนวนมาก กระทบกับการสร้างงานวิจัย และการขอตำแหน่งทางวิชาการของอาจารย์ ซึ่งในการประเมินรอบต่อไปของ สมศ.ก็จะต้องมีการปรับตัวบ่งชี้ เพื่อให้มหาวิทยาลัยปรับตัวให้มีมาตรฐานมากขึ้น

Resource from:

http://www.manager.co.th/QOL/ViewNews.aspx?NewsID=9560000089936

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China Sees 7% as Bottom-Line Growth Tolerable in Slowdown

Premier Li Keqiang’s government sees 7 percent growth as the bottom line for tolerance of an economic slowdown, Chinese news organizations reported, signaling the nation will act to support expansion if needed.

Expansion below 7 percent won’t be tolerated because China needs to achieve a moderately prosperous society by 2020, according to a commentary published July 21 by the official Xinhua News Agency and credited to reporter Wang Yuewei. Li said at a recent meeting with economists that 7 percent is the “bottom line” and the nation can’t allow growth below that, the Beijing News reported today.

Chinese stocks headed for their biggest gain since July 11 amid optimism that the government won’t let expansion slow too much after gross domestic product rose 7.5 percent in the second quarter from a year earlier, the same pace as China’s official target for this year. Li previously said the government shouldn’t let growth and employment fall below lower limits that he didn’t specify.

“The comments confirmed that the government’s acceptable range for growth this year is between 7 percent and 7.5 percent,” said Chang Jian, a Hong Kong-based economist at Barclays Plc who formerly worked for the World Bank. “As economic growth is slowing to below 7.5 percent, the government policy’s focus is gradually shifting to stabilizing growth.”

The Shanghai Composite Index (SHCOMP) rose 1.7 percent at 2:02 p.m. local time.

Lower Limit

Other parts of the reports may add to confusion on the government’s tolerance for a slowdown. The Xinhua commentary said 7.5 percent is the “lower limit” for growth this year while the Beijing News reported Li said the “lower limit” for China’s GDP expansion is 7.5 percent. The articles didn’t elaborate on the difference between a “lower limit” and a “bottom line.”

Finance Minister Lou Jiwei said in a press briefing in Washington on July 11 that growth as low as 6.5 percent may be tolerable in the future. While the government in March set a 2013 growth goal of 7.5 percent, Lou said he’s confident 7 percent can be achieved this year.

Xinhua later amended its English-language report on Lou to say there’s no doubt that China can achieve this year’s growth target of 7.5 percent.

Shen Jianguang, chief Asia economist at Mizuho Securities Asia Ltd. in Hong Kong, said 7.5 percent is the lower limit for growth this year and 7 percent is the boundary starting next year. The government is already trying to support expansion in 2013 with spending on railways, city infrastructure and environmental protection, Shen said.

Resource from: 

By Bloomberg News - Jul 23, 2013 1:10 PM GMT+0700

http://www.bloomberg.com/news/2013-07-23/li-s-government-sees-7-as-growth-bottom-line-chinese-media-say.html

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Cambodia opposition chief Sam Rainsy barred from poll

Cambodia's newly returned opposition leader cannot be a candidate in upcoming polls, election authorities ruled Monday, rejecting his application to stand against strongman premier Hun Sen.

Sam Rainsy, who was greeted by huge crowds on Friday after his return from self-imposed exile in France, "did not fulfil the conditions in the process of registering candidates," National Election Committee (NEC) president Im Sousdey said in a letter.

"Regarding the request to register your excellency's name, the NEC cannot include it based on the... electoral law," said the letter, in response to Rainsy's application on Sunday to be added to the list.

NEC officials have previously suggested that it was unlikely the opposition leader, who was removed from the electoral register late last year, would be able to stand in the July 28 polls under the current law.

Rainsy has reportedly warned of a backlash if he is barred from standing.

He is seen as the main challenger to Prime Minister Hun Sen, who has ruled Cambodia for nearly three decades.

Until he received a surprise royal pardon this month, Rainsy had faced 11 years in jail if he returned to Cambodia after he was convicted in absentia on charges that he contends were politically motivated.

Following his return home he has already hit the campaign trail to spearhead his party's efforts to loosen Hun Sen's grip on power.

Resource from:

http://www.globalpost.com/dispatch/news/afp/130722/cambodia-opposition-chief-barred-poll-1

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Cambodia : Hero's welcome for returning Rainsy

Cambodia : Hero's welcome 

for returning Rainsy

Over the course of 10 kilometres and three hours this morning, one could be forgiven for forgetting what country they were in.

A sea of supporters likely numbering more than 100,000 turned out to greet opposition leader Sam Rainsy, who touched down in Phnom Penh at 9:05am to a hero’s welcome following nearly four years of self-exile.

Slideshow of Rainsy's return

Supporters thronged the entire route from Phnom Penh International Airport to Freedom Park, slowing the convoy to a crawl as adulatory crowds swarmed around the cars carrying the opposition leader – arm-arm with Cambodia National Rescue Party deputy president Kem Sokha - and his retinue.

Just one week after he was granted a royal pardon, Rainsy descended from the plane with Sokha in tow, stepped onto the tarmac, and kissed the ground.

As the pair drove out of the gates, and a planned press conference disintegrated amid the chaos, Rainsy grabbed a microphone and shouted above the din of the crowd.

“I am so excited to see all of you. I am so happy, so excited to meet all my compatriots. Thank you, all of you. We are now walking together,” Rainsy told the overjoyed supporters. “I came this time to rescue the nation with all of you.”

While the amnesty pardoned Rainsy from 11 years in prison, for convictions on a raft of defamation and forgery charges widely believed to be politically motivated, it included no stipulations about his eligibility to run. His name has been stricken from both the voter list and candidate list in adherence with rules forbidding convicted persons to run, and the National Election Committee has stood firm that they cannot legally re-list Rainsy unless the laws are amended.

Regardless, if the crowds that turned out are any indication, it is clear that the return will provide a massive boost for the beleaguered party.
“I love him. I want him to be the [prime minister] of Cambodia. I want to change the [Prime Minister] and we needed him to come back,” said Un Charin. The 28-year-old motodop had come to the airport hours before Rainsy was set to arrive, 20 friends in tow.

“I studied in a university in Battambang for two years, but I can’t find a good job. I wanted to work in a company, but you have to pay money just to get a job. It’s time for a change,” he said, before bursting into chant of b’do, or change.

As the trucks slowly made their way toward Freedom Park, supporters – some of whom had been camped out since dawn – let out enormous cheers. Whole companies trickled out of their offices, the employees standing in neat lines, snapping photos with iPads and holding up homemade signs.

Near a factory, dozens of garment workers pressed against the barrier dividing the north and southbound lanes of Russian Boulevard.

“I missed lunch time, but that’s okay with me, I wanted to see His Excellency Sam Rainsy,” said 20-year-old Sreymom, a CNRP sticker plastered to her cheek. While the government has been touting its recent increase of the minimum wage in the garment sector, workers, she said, were more impressed by the CNRP’s promise of $150 a month minimum.

“I support the CNRP,” she said.

That sentiment is not limited to those in the garment industry.

Le Hour, a civil servant employed by the Ministry of Education, said Rainsy was the clear choice.

“He has a high knowledge of economic matters and enough stability to run our country. No corruption, no evictions,” he said.

“I’m a member of the CPP inside the ministry, but I don’t support the CPP’s policies. Many people [secretly] don’t support them, because they have too low a salary.”

Along the parade route, that appeared to be borne out.

As the cars slid by the Por Sen Chey district office of Education, Youth and Sports, officials leaned over the second-story balcony to watch the show. On the far end, metres away from their CPP-polo clad colleagues, a pair of well-dressed civil servants flashed the number 7.

A 30-year-old monk from Wat Stung Meanchey shouted “change!” before turning to speak to a reporter.

“I am happy to be able to come here and welcome our leader; he is brave and inspirational for the people. He is a man who truly loves his nation,” said venerable Chhit Sovann.

“I strongly hope that the CNRP will win this election, that people will get back their land and that our land at the border lost to the neighbouring country will also be taken back.”
In the car following Rainsy’s, Cambodians who had flocked in from the US and France to help the party during the campaign said they had little doubt the CNRP would win, should elections be free and fair.

“I’m strongly hoping we’re going to win and we’re going to change the country,” said Sovin David, a party member who has spent the past 18 years in France. “If they win, I’m not going back.”

“It’s been almost 30 years… Now it’s time for real democracy. Bring back Sam Rainsy!”

While the Ministry of Interior promised hundreds of officers to secure Rainsy’s return, few were present past the gates of the airport, leaving the task of keeping order to perhaps thousands of volunteers.

Young men and women, arms linked in daisy chains, surrounded his pickup truck, keeping back surging crowds, while a contingent of private bodyguards kept watch from inside the truck bed.

Despite the lack of a visible surplus of officers, the daylong demonstration remained peaceful throughout, with just a single minor reported incident over the course of the entire day.

Even a handful of CPP supporters who braved the crowds were met with no more than the occasional verbal jeers.

Also notably absent from the parade were local media. As dozens of Cambodian and foreign journalists scrambled up and down Russian Boulevard, racing to rooftops for the best shot and hopping on and off trucks, broadcasters were nowhere to be seen.

The television channels – all of them dominated by government ties – showed no footage of the rally, while other media downplayed it. Local news site CEN, one of the chief breaking news outlets, numbered the crowd in the thousands.

Taking note of the absence, a wry supporter walked the length of the route toting a homemade, Styrofoam camera. Coated with CNRP logos, the camera sported the letters TVK - the name of the state broadcaster.

Resource from:

Fri, 19 July 2013

http://www.phnompenhpost.com/national/unprecedented-turnout-greets-rainsy

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Cambodia : Opposition leader Sam Rainsy pardoned

Cambodia : Opposition leader Sam Rainsy pardoned

King Norodom Sihamoni has signed a pardon for self-exiled opposition leader Sam Rainsy requested by Prime Minister Hun Sen, paving the way for the Cambodia National Rescue Party president to return before the July 28 election, Prince Norodom Charin confirmed Friday.

"Everything is signed and sent, Sam Rainsy has the document," Prince Charin said.

Council of Minister's spokesman Phay Siphan confirmed on Friday that Hun Sen has signed off on the request to King Norodom Sihamoni that day.

"The prime minister signed this morning a supporting letter to request a royal pardon to Sam Rainsy," he said.

Siphan said Hun Sen had made the decision in the name of national reconciliation and stability.

Rainsy had been convicted of a series of criminal charges related to a dispute of Cambodia's border and defamatory comments he made about foreign affairs minister Hor Namhong.

Resource from:

 http://www.phnompenhpost.com/national/opposition-leader-sam-rainsy-pardoned

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Cambodia : Tourism figures rise in first five months

Cambodia : Tourism figures rise 

in first five months

Some 1.8 million tourists arrived in Cambodia in the first five months of this year, a 20 per cent increase compared with the corresponding period in 2012, thanks largely to an regional influx of travellers.

Ho Vandy, co-chair of the government-private sector tourism working group, said that tourism is taking off largely thanks to marketing, an environment of open trade, investment policies and solid diplomatic relations with neighbouring countries.

“It reflects the good cooperation and effort made by government and private sector in promoting Cambodia’s tourism sector,” Vandy said.

He added that the majority of foreign tourists are still from the countries in the region, accounting for about 60 per cent of the total.

According to official statistics, Vietnam led tourist arrivals during the period with about 340,000 visitors. South Korea followed with some 215,000, and China was third at around 132,000.

The Cambodian Development Research Institute says that tourism directly employs around employs 350,000 people. Last year, it brought about $2 billion into Cambodia’s economy.

There are signs that Cambodia’s tourism sector is diversifying to include beach and eco-tourism, and the development of Cambodia’s Islands is seen a new frontier for the industry.

“If the problem in Western economies improve, more and more tourists from there will be increasing as well,” Vandy said.

Resource from:

http://www.phnompenhpost.com/business/tourism-figures-rise-first-five-months

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Japanese Firm Closes China Factories, Relocates to Cheaper Rangoon

Japanese Firm Closes China Factories, 

Relocates to Cheaper Rangoon

Japan is gearing up to make Burma the new sweatshop of Asia, said a report by The Economist citing the case of Famoso Clothing, which is closing its factories in China and moving operations to Rangoon.

Famoso is part of Daiei Ready Made Clothes Corporation, based in the Japanese city of Nagoya, and makes men’s suits for the Japanese market and others.

Until recently, most of its production was at three factories in China, where it employed thousands of workers.

“Three years ago two of the factories in China were closed and the plant in [Rangoon] was rebuilt at a cost of US$7 million to become the company’s new Asia hub,” The Economist reported.

“The company’s last Chinese factory will close within a year and the [Rangoon] operation will triple its output, from 170,000 suits a year to half a million,” the magazine quoted Famoso managing director Kazuto Yamazaki as saying.

The reason for the switch is simple, said The Economist: Famoso can hire Burmese workers for US$100 per month—just 25 percent of what it has been paying its Chinese workforce.

Famoso’s factory is in Mingaladon Industrial Park in Rangoon. This month it will beginning shipping its first consignment of suits to Britain for the famous Marks & Spencer chain.

Resource from:

http://www.irrawaddy.org/archives/39393

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