Cambodia to nominate Donald Trump for Nobel Peace Prize, says deputy PM
Photo:
Andrew Caballero-Reynolds / AFP
Cambodia will
nominate US President Donald Trump for the Nobel Peace Prize
, its deputy prime minister said on Friday, following his direct intervention in halting the Southeast Asian country's
recent border conflict with Thailand
.
Asked via text message to confirm Cambodia's plan to nominate Trump for the prize, Chanthol responded, "yes."
Speaking to reporters earlier in the capital, Phnom Penh, Chanthol thanked Trump for bringing peace and said he deserved to be nominated for the prize, the highest-profile international award given to an individual or organisation deemed to have done the most to "advance fellowship between nations". 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. It was a
call by Trump last week that broke a deadlock
in efforts to end the heaviest fighting between Thailand and Cambodia in over a decade, leading to a ceasefire negotiated in Malaysia on Monday, Reuters has reported.
Following the truce announcement, White House spokeswoman Karoline Leavitt said in a post on X that Trump made it happen.
"Give him the Nobel Peace Prize!," she said.
At least 43 people have been killed in the intense clashes, which lasted five days and displaced more than 300,000 people on both sides of the border.
"We acknowledge his great efforts for peace," said Chanthol, also Cambodia's top trade negotiator, adding that his country was also grateful for a reduced tariff rate of 19%. Washington had initially threatened a tariff of 49%, later reducing it to 36%, a level that would have decimated Cambodia's vital garment and footwear sector, Chanthol told Reuters in an interview earlier on Friday.
- Reuters
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

RNZ News
11 minutes ago
- RNZ News
India will continue to buy Russian oil, government sources say
By Shivam Patel and Chandni Shah US President Donald Trump and Indian Prime Minister Narendra Modi arrive to hold a joint press conference in the East Room of the White House in Washington, DC, on 13 February, 2025. Photo: AFP India will keep purchasing oil from Russia despite US President Donald Trump's threats of penalties , two Indian government sources said, not wishing to be identified due to the sensitivity of the matter. "These are long-term oil contracts," one of the sources said. "It is not so simple to just stop buying overnight." Trump last month indicated in a Truth Social post that India would face additional penalties for purchases of Russian arms and oil. On Friday, Trump told reporters that he had heard that India would no longer be buying oil from Russia. The New York Times on Saturday (local time) quoted two unnamed senior Indian officials as saying there had been no change in Indian government policy, with one official saying the government had "not given any direction to oil companies" to cut back imports from Russia. Reuters reported this week that Indian state refiners stopped buying Russian oil in the past week after discounts narrowed in July. "On our energy sourcing requirements ... we look at what is there available in the markets, what is there on offer, and also what is the prevailing global situation or circumstances," India's foreign ministry spokesperson Randhir Jaiswal told reporters during a regular briefing on Friday. Jaiswal added that India has a "steady and time-tested partnership" with Russia, and that New Delhi's relations with various countries stand on their own merit and should not be seen from the prism of a third country. The White House in Washington did not immediately respond to requests for comment. Indian refiners are pulling back from Russian crude as discounts shrink to their lowest since 2022, when Western sanctions were first imposed on Moscow, due to lower Russian exports and steady demand, sources said earlier this week. The country's state refiners - Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp and Mangalore Refinery Petrochemical Ltd - have not sought Russian crude in the past week or so, four sources familiar with the refiners' purchase plans told Reuters. On 14 July, Trump threatened 100 percent tariffs on countries that buy Russian oil unless Moscow reaches a major peace deal with Ukraine. Russia is the top supplier to India, responsible for about 35 percent of India's overall supplies. Russia continued to be the top oil supplier to India during the first six months of 2025, accounting for about 35 percent of India's overall supplies, followed by Iraq, Saudi Arabia and the United Arab Emirates. India, the world's third-largest oil importer and consumer, received about 1.75 million barrels per day of Russian oil in January-June this year, up 1 percent from a year ago, according to data provided to Reuters by sources. Nayara Energy, a major buyer of Russian oil, was recently sanctioned by the European Union as the refinery is majority-owned by Russian entities, including oil major Rosneft. Last month, Reuters reported that Nayara's chief executive had resigned after the imposition of EU sanctions and company veteran Sergey Denisov had been appointed as CEO. Three vessels laden with oil products from Nayara Energy have yet to discharge their cargoes, hindered by the new EU sanctions on the Russia-backed refiner, Reuters reported late last month. - Reuters

1News
15 hours ago
- 1News
Wall Street falls after employers slash hiring and tariffs roll out
The US stock market had its worst day since May after the government reported a sharp slowdown in hiring and President Donald Trump imposed sweeping tariffs on imports from a number of US trading partners. The S&P 500 fell 1.6%, its biggest decline since May 21 and its fourth straight loss. The index also posted a 2.4% loss for the week, marking a sharp shift from last week's record-setting streak of gains. The Dow Jones Industrial Average fell 1.2%, while the Nasdaq composite fell 2.2%. Worries on Wall Street about a weakening economy were heavily reinforced by the latest report on job growth in the US, employers added just 73,000 jobs in July. That is sharply lower than economists expected. The Labor Department also reported that revisions shaved a stunning 258,000 jobs off May and June payrolls. ADVERTISEMENT Markets also reacted to the latest tariff news. President Donald Trump announced tariff rates on dozens of countries and pushed back the scheduled effective date to August 7, adding more uncertainty to the global trade picture. "The market has been felled by a one-two punch of additional tariffs, as well as the weaker-than-expected employment data — not only for this month, but for the downward revisions to the prior months," said Sam Stovall, chief investment strategist at CFRA. Trump's decision to order the immediate firing of the head of the government agency that produces the monthly jobs figures will only fuel the market's uncertainty, Stovall added. The surprisingly weak hiring numbers led investors to step up their expectations for an interest rate cut in September. The market's odds of a quarter-point cut by the Federal Reserve rose to around 87% from just under 40% a day earlier, according to data from CME FedWatch. The question now: Will the Fed's policymakers consider a half-point cut next month, or even a quarter-point cut sometime before their next committee meeting, Stovall said. The yield on the 10-year Treasury fell to 4.21% from 4.39% just before the hiring report was released. That's a big move for the bond market. The yield on the two-year Treasury, which more closely tracks expectations for Fed actions, plunged to 3.68% from 3.94% just prior to the report's release. The Fed has held rates steady since December. A cut in rates would give the job market and overall economy a boost, but it could also risk fueling inflation, which is hovering stubbornly above the central bank's 2% target. ADVERTISEMENT An update on Thursday (local time) for the Fed's preferred measure of inflation showed that prices ticked higher in June, rising to 2.6% from 2.4% in May. The Fed has remained cautious about cutting interest rates because of worries that tariffs will add more fuel to inflation and weigh down economic growth. The central bank, though, also counts "maximum employment" as one of its two mandates along with keeping prices stable. Issues with either of those goals could prompt a shift in policy. The Fed held rates steady again at its most recent meeting this week. Fed Chair Jerome Powell has been pressured by Trump to cut the benchmark rate, though that decision isn't his to make alone, but belongs to the 12 members of the Federal Open Market Committee. "What had looked like a Teflon labour market showed some scratches this morning, as tariffs continue to work their way through the economy," said Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management. "A Fed that still appeared hesitant to lower rates may see a clearer path to a September cut, especially if data over the next month confirms the trend." Businesses, investors and the Fed are all operating under a cloud of uncertainty from Trump's tariff policy. The latest moves give 66 countries, the European Union, Taiwan and the Falkland Islands another seven days, instead of taking effect on Friday, as Trump stated earlier. Companies have been warning investors that the policy, with some tariffs already in effect while others change or get extended, has made it difficult to make forecasts. Walmart, Procter & Gamble and many others have warned about import taxes raising costs, eating into profits and raising prices for consumers. ADVERTISEMENT Internet retail giant Amazon fell 8.3%, despite reporting encouraging profit and sales for its most recent quarter. Technology behemoth Apple fell 2.5% after also beating Wall Street's profit and revenue forecasts. Both companies face tougher operating conditions because of tariffs, with Apple forecasting a USD$1.1 billion (NZ$1.8 billion) hit from the fees in the current quarter. Exxon Mobil fell 1.8% after reporting that profit dropped to the lowest level in four years and sales fell as oil prices slumped as OPEC+ ramped up production. All told, the S&P 500 fell 101.38 points to 6,238.01. The Dow dropped 542.40 points to 43,588.58, and the Nasdaq gave up 472.32 points to finish at 20,650.13. Stocks fell across the world. Germany's DAX fell 2.7% and France's CAC 40 fell 2.9%. South Korea's Kospi tumbled 3.9%

RNZ News
19 hours ago
- RNZ News
US President Donald Trump fires labour statistics official over jobs numbers
A news ticker broadcasts the news of the firing of the commissioner of the Bureau of Labor Statistics on the floor of the New York Stock Exchange on 1 August, 2025. Photo: AFP / MICHAEL M. SANTIAGO By Kit Maher , Matt Egan and Alicia Wallace , CNN President Donald Trump has fired Dr Erika McEntarfer, the commissioner of the Bureau of Labor Statistics, whom he accused, without evidence, of manipulating the monthly jobs reports for "political purposes". The BLS' monthly labour report Friday (US time) showed that the US economy added only 73,000 jobs in July, far below expectations. It also sharply revised down the employment growth that had been previously reported in May and June - by a combined 258,000 jobs. After the revisions, the jobs report showed the weakest pace of hiring for any three-month period since the pandemic recession in 2020. "In my opinion, today's Jobs Numbers were RIGGED in order to make the Republicans, and ME, look bad," Trump said in a Truth Social post. Although the May and June jobs numbers were worse than initially believed, revisions are normal in this process. The BLS' initial monthly jobs estimates are often based on incomplete data, so they are revised twice after the initial report - followed by an annual revision every February. Additionally, BLS economists use a formula to smooth out jobs numbers for seasonal variations and that can exacerbate revisions, when they fall outside economists' expectations. On Friday, Trump incorrectly called the revisions a "mistake". "McEntarfer said there were only 73,000 Jobs added (a shock!) but, more importantly, that a major mistake was made by them, 258,000 Jobs downward, in the prior two months," Trump said on Truth Social. "Similar things happened in the first part of the year, always to the negative. The Economy is BOOMING under 'TRUMP'." Trump said McEntarfer "faked" the jobs numbers before the election to try to boost former Vice President Kamala Harris' chances in the 2024 presidential election. "We're doing so well. I believe the numbers were phony, just like they were before the election, and there were other times. So, you know what I did? I fired her, and you know what? I did the right thing," Trump told reporters Friday on the South Lawn. Trump has also threatened the firing of Federal Reserve Chaie Jerome Powell. Photo: AFP McEntarfer was confirmed by the Senate 86-8 in January 2024 for a term of four years. CNN has reached out to McEntarfer for comment. Until Trump replaces McEntarfer, Deputy Commissioner William Wiatrowski will serve as Acting Commissioner, the administration said. Trump has previously criticised the BLS for its jobs data and revisions, and he told reporters Friday evening he's "always had a problem with these numbers". In 2016, during his first presidential campaign, Trump claimed that the unemployment rate was significantly higher than the BLS let on. In 2024, he accused former President Joe Biden's administration of orchestrating a cover-up, after the BLS reported that it had overcounted jobs by 818,000 over the previous 12 months. "I was thinking about it this morning, before the numbers that came out. I said, 'Who is the person that does these numbers?' And then they gave me stats about before the election," Trump said. "We need people that we can trust," he added. Trump and his administration have also praised the BLS data when it has been favourable to them. During Trump's first term, former White House Press Secretary Sean Spicer said, in March 2017, that the jobs data was no longer "phony", after the BLS issued a strong jobs report. A month ago, current White House Press Secretary Karoline Leavitt posted on social media that the economy had beaten expectations for jobs in four straight BLS labour reports. The BLS is nonpartisan, and businesses and government officials rely on the accuracy of its data to make determinations about investment, hiring, spending and all sorts of key decisions. "It's outrageous for anyone in government to question the integrity of the BLS," said Jason Furman, a Harvard professor and former Obama economic adviser. "Accurate statistics are essential to the economy." Furman doubted that replacing McEntarfer would compromise the BLS, but he said even the possibility or appearance of that notion "would be bad". "Countries that have tried to fake those statistics have often ended up with economic crises as a result," Furman said. Mark Zandi, chief economist at Moody's Analytics, said the BLS data is at the "highest standard", and "as accurate as it can be". "Anything that undermines that or even the perception of that high standard is deeply worrisome," Zandi said. "I've never seen anything even close to this." At Moody's, Zandi said he has hired a number of former BLS economists, whom he called "fantastic". "They do great work," Zandi said. "They are critical to a well-functioning economy." Democratic Virginia Senator Mark Warner accused Trump of working the referees. "Firing the ump doesn't change the score," Warner said in a statement. "Americans deserve to know the truth about the state of the Trump economy." Labor Secretary Lori Chavez-DeRemer said she supported replacing McEntarfer. "A recent string of major revisions have come to light and raised concerns about decisions being made by the Biden-appointed Labor Commissioner," Chavez-DeRemer said on X. "I support the President's decision to replace Biden's Commissioner, and ensure the American People can trust the important and influential data coming from BLS." The BLS jobs survey is widely considered by economists to be robust. It samples more than 100,000 businesses and government agencies each month, representing roughly 629,000 individual worksites. As part of larger cost-cutting taking place around practically every part of Trump's government, the BLS is laying off staff and, as a result, reducing the scope of its work. For example, the BLS posted a notice in June stating it stopped collecting data for its Consumer Price Index in three cities - Lincoln, Nebraska; Buffalo, New York; and Provo, Utah - and increased "imputations" for certain items - a statistical technique that, when boiled down to very rough terms, essentially means more educated guesses. That worried Federal Reserve Chair Jerome Powell. In testimony before Congress in June, Powell said he believed the BLS data to be accurate, but he was upset about what could become a trend. "I wouldn't say that I'm concerned about the data today, although there has been a very mild degradation of the scope of the surveys," Powell said at the time, in response to a question about survey data quality. "I would say the direction of travel is something I'm concerned about." - CNN