Cambodian and Thai leaders hold ceasefire talks in Malaysia as border violence enters fifth day
Cambodian Prime Minister Hun Manet and Thai Acting Prime Minister Phumtham Wechayachai are scheduled to hold talks Monday afternoon at the official residence of Malaysian Prime Minister Anwar Ibrahim who is hosting the negotiations as chair of the regional bloc, Association of Southeast Asian Nations.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
26 minutes ago
- Yahoo
Cambodia PM says he has nominated Donald Trump for Nobel Prize
(Reuters) -Cambodia's prime minister said on Thursday he has nominated U.S. President Donald Trump for the Nobel Peace Prize, lauding his "extraordinary statesmanship" in halting a border conflict between Cambodia and Thailand. Hun Manet made the announcement in a Facebook post late on Thursday, accompanied by a letter he said had been sent to the Norwegian Nobel Committee hailing Trump's intervention as an example of his "exceptional achievements in de-escalating tensions in some of the world's most volatile regions". "This timely intervention, which averted a potentially devastating conflict, was vital in preventing a great loss of lives and paved the way towards the restoration of peace," the Cambodian leader wrote in the letter. It was a July 26 call by Trump to the leaders of both Thailand and Cambodia that broke the deadlock in efforts to end some of the heaviest fighting between the neighbours in recent history, Reuters has reported. That led to a ceasefire negotiated in Malaysia on July 28. The two countries agreed on Thursday to ensure no reigniting of hostilities and to allow observers from Southeast Asia. In total, 43 people were killed and more than 300,000 displaced by a five-day conflict that started with small arms fire and quickly escalated into heavy artillery and rocket fire, then Thailand's deployment hours later of an F-16 fighter jet for air strikes. The nomination had been expected after Cambodia's deputy prime minister last week announced the plan, while thanking Trump for a tariff of 19% on Cambodian imports by the United States - sharply reduced from the previously threatened 49% that he said would have decimated its vital garment manufacturing sector. Pakistan said in June that it would recommend Trump for the Nobel Peace Prize for his work in helping to resolve a conflict with India, and Israeli Prime Minister Benjamin Netanyahu said last month he had nominated Trump for the award. Solve the daily Crossword
Fast Company
27 minutes ago
- Fast Company
Sources reveal the Trump administration's plans for cutting U.S. drug prices
The Trump administration has been talking to drugmakers about ways to raise prices of medicines in Europe and elsewhere in order to cut drug costs in the United States, according to a White House official and three pharmaceutical industry sources. U.S. officials told drug companies it would support their international negotiations with governments if they adopt 'most favored nation' pricing under which U.S. drug costs match the lower rates offered to other wealthy countries, the White House official said. The U.S. is currently negotiating bilateral trade deals and setting tariff rates on the sector. The Trump administration has asked some companies for ideas on raising prices abroad, two of the sources said, describing multiple meetings over several months aimed at lowering U.S. prices without triggering cuts to research and development spending drugmakers insist would result. The White House official called the effort collaborative, saying both sides were seeking advice from each other. The U.S. pays more for prescription drugs than any other country, often nearly three times as much as other developed nations. President Donald Trump has repeatedly said he wants to narrow this gap to stop Americans from being 'ripped off.' The previously unreported discussions reflect the challenges Trump faces to achieve that goal, and are the backdrop to the letters he sent last week to CEOs of 17 major drugmakers, urging them to cut U.S. prices to match those paid overseas. Unlike in the U.S., where market forces determine drug prices, European governments typically negotiate directly with companies to set prices for their national healthcare systems. Anna Kaltenboeck, a health economist at Verdant Research, said European nations have leverage to drive pricing and are sometimes willing to walk away from purchasing medicines they deem too expensive. Drugmakers generate most of their sales in the U.S. The Pharmaceutical Research and Manufacturers of America — the industry's main lobby group — has always argued that cutting U.S. prices would stifle innovation by lowering R&D spending. PhRMA declined to comment on the private meetings. Kaltenboeck said past studies had shown that drugmakers made enough money in the U.S. to more than fund their entire global R&D spends. 'Prices can come down in the United States without being increased in other countries, and we can still get innovation,' she said. TOP PRIORITY Despite the Trump administration's tariff threats and pressure to move more manufacturing to the U.S., the push to raise European drug prices is its top priority in discussions with industry, according to a senior executive at a European drugmaker, who spoke on condition of anonymity about the confidential meetings. 'This is the key conversation right now with PhRMA and every company getting that message from Pennsylvania Avenue to a point that we are already executing on it,' the executive said, referring to the White House address. The company had already met with European governments on the issue, the executive added. An E.U. Commission spokesperson said it is in regular contact with the pharma industry and pointed to an agreement with the U.S. that should it impose tariffs on pharmaceuticals, they would be capped at 15%. When asked how the administration would support international drug price negotiations, the White House official referred Reuters to Trump's most favored nation executive order from May. That order directed trade officials to pursue trade and legal action against countries keeping drug prices below fair market value. In last week's letters, Trump complained that since the May executive order, most industry proposals had simply shifted blame for high prices or requested policy changes that would result in billions in industry handouts. A second source, a pharmaceutical executive who was not authorized to speak on the matter, said the Trump administration has been continually meeting with representatives of his company and had discussed strategies for raising drug prices internationally. 'There's a big push from the administration to drive up prices outside the U.S.,' the executive said. The executive said the Trump administration had been looking at using trade talks with the UK and EU as leverage, and considered pressuring countries to spend a higher percentage of GDP on new medicines or offering tariff breaks in exchange for higher drug spending. It was understood that the UK deal specifically aims to get the country to ramp up investment in branded medicines over time, the executive said. A spokesperson for the UK government said it would continue to work closely with the U.S. and its own pharmaceutical industry to understand the possible impact of any changes to drug pricing, without commenting on the trade talks. In April, over 30 industry CEOs including those from AstraZeneca, Bayer and Novo Nordisk signed a letter to European Union President Ursula von der Leyen saying Europe needed to rethink its pricing policies. 'It's going to be very difficult for a country that already has the ability to control what it spends to go in the other direction,' Kaltenboeck said, 'and it doesn't make much sense for them politically.'
Bloomberg
2 hours ago
- Bloomberg
Cambodia Formally Nominates Donald Trump for the Nobel Prize
Cambodia formally nominated President Donald Trump for the Nobel Peace Prize after the US leader threatened to halt trade deals unless the Southeast Asian nation agreed to a ceasefire with Thailand in a recent armed conflict. In a letter dated Aug. 7 to the Norwegian Nobel Committee, Cambodian Prime Minister Hun Manet said Trump's intervention in the conflict helped avert 'a potentially devastating conflict' and restored peace along the two countries' shared border. He credited Trump's 'visionary and innovative diplomacy' for the breakthrough.
