logo
Claims of ceasefire breach

Claims of ceasefire breach

The Star4 days ago
Devastated: A woman crying after a religious ceremony in Sisaket province, Thailand. She lost her loved ones when a Cambodian artillery shell slammed into a gas station and destroyed the attached convenience store. — Reuters
THE nation's military accused Cambodian forces of breaching a ceasefire agreement at three separate locations along the disputed border, warning that continued aggression could compel Thai forces to respond more decisively.
The allegations come less than two days after both governments agreed to a ceasefire brokered in Malaysia, which came into effect at midnight on Monday, aimed to stop fighting and prevent escalation of their deadliest conflict in more than a decade following five days of intense fighting that has killed at least 43 people and displaced over 300,000 civilians on either side.
The truce came after a sustained push from Malaysian Prime Minister Datuk Seri Anwar Ibrahim and US President Donald Trump, with the latter warning Thai and Cambodian leaders that trade negotiations would not progress if fighting continued.
Thailand and Cambodia face a tariff of 36% on their goods in the US, their biggest export market, unless a reduction can be negotiated.
After the ceasefire deal was reached, Trump said he had spoken to both leaders and instructed his trade team to restart tariff talks.
Yesterday, Thailand said Cambodian forces fired on positions in northeastern Thailand's Sisaket province on Cambodia's northern border.
'Cambodian forces used small arms and grenade launchers, prompting Thailand to respond in self-defence,' Thai army spokesman Major-General Winthai Suvaree told reporters.
'This was the second incident since the agreement and reflects a behaviour that does not respect agreements, destroys de-escalation efforts and hampers trust between the two countries.'
Cambodia rejected the allegations, saying it was committed to the ceasefire and called for observers.
'Cambodia strongly rejects the ceasefire accusations as false, misleading and harmful to the fragile trust-building process,' Cambodian Foreign Ministry spokesperson Chum Sounry told reporters at a press conference, adding that the government supports a monitoring mechanism and independent observation.
The ceasefire, which also agreed to halt troop movement, paves the way for a high-level military meeting that includes defence ministers on Aug 4 in Cambodia.
There have been no reports of any exchange of heavy artillery fire but also no reports of troop withdrawals by either side. — Reuters
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump says he will announce candidate for open Fed position in next couple days
Trump says he will announce candidate for open Fed position in next couple days

New Straits Times

time4 minutes ago

  • New Straits Times

Trump says he will announce candidate for open Fed position in next couple days

KUALA LUMPUR: US President Donald Trump said on Sunday he will announce a candidate to fill an open position at the Federal Reserve in the next couple of days. The Fed said on Friday that Governor Adriana Kugler was resigning early from her term, leaving an opening for Trump, a sharp critic of the US central bank's leadership, to fill. COLUMN-OPEC+ gets lucky as it brings back oil output amid uncertainty: Russell (The views expressed here are those of the author, a columnist for Reuters.) By Clyde Russell LAUNCESTON, Australia, Aug 4 (Reuters) - A couple of months ago it would have been a brave call to say that OPEC+ would be able to bring back 2.5 million barrels per day of crude production and still keep oil prices anchored around $70 a barrel. But this is exactly what has occurred, with the eight members of the producer group winding back the last of their 2.2 million bpd of voluntary cuts by September, as well as allowing a separate increase for the United Arab Emirates. The eight OPEC+ members met virtually on Sunday, agreeing to lift output by 547,000 bpd for September, adding to the increases of 548,000 bpd for August, 411,000 bpd for each of May, June and July, as well as the 138,000 bpd for April that kickstarted the unwinding of their voluntary cuts. OPEC+ stuck to their recent line that the rolling back of production cuts was justified by a strong global economy and low oil inventories. It's debatable as to whether this is actually the case. Certainly, demand growth in the top-importing region of Asia has been lacklustre. Asia's oil imports were about 25.0 million bpd in July, down from 27.88 million bpd in June and the lowest monthly total since July last year, according to data compiled by LSEG Oil Research. While China, the world's biggest crude importer, has been increasing purchases in recent months, much of this is likely because of lower prices that prevailed when June- and July-arriving cargoes were arranged. It's also the case that China has likely been adding to its stockpiles at a rapid pace, and while it doesn't disclose inventories, the surplus of crude once refinery processing is subtracted from the total available from domestic output and imports was 1.06 million bpd over the first half of 2025. OPEC+ LUCK? It appears more likely that OPEC+ has largely been fortunate in that it has been increasing output at a time of rising risks in the crude oil market, largely from geopolitical tensions. The brief conflict between Israel and Iran in June, which was later joined by the United States, did lead to an equally brief spike in crude prices, with benchmark Brent futures reaching a six-month high of $81.40 a barrel on June 23. The price has since eased back to trade around the $70 mark, with some early weakness in Asia on Monday seeing Brent drop to around $69.35. But the point is that the Israel-Iran conflict arrested a downtrend in oil prices that had been in place for much of the first half of the year. Crude prices have also been supported in recent days by U.S. President Donald Trump's threats of wide-ranging sanctions against buyers of Russian oil unless Moscow agrees to a ceasefire in its war with Ukraine. As with everything Trump, it pays to be cautious as to whether his actions will ultimately be as drastic as his threats. But it would also be foolhardy to assume that there will be no impact on crude supplies even if any eventual measures imposed by the United States are not as drastic as feared. There are effectively only two major buyers of Russian crude, India and China. Of these two, India is the far more exposed given its refiners export millions of barrels of refined products, many made with Russian oil. India imported 2.1 million bpd of Russian oil in June, according to data compiled by commodity analysts Kpler, which is the second-highest monthly total behind only 2.15 million bpd in May 2023. In recent months, India has been buying about 40% of its crude from Russia and if it were to replace that with other suppliers, it would have a severe impact on oil flows, at least initially. It's likely that a combination of Middle East, Africa and Americas exporters could make up for India's loss of Russian barrels, but this would tighten supplies considerably and likely keep prices higher. Whether Russia and its network of shadowy traders and shippers could once again work around sanctions remains to be seen, but even if they could, it would still take some time for them to get Russian crude through to buyers. For now, much remains up in the air and OPEC+ members are following a smart strategy in taking advantage of the uncertainty to bring their production back and rebuild market share. How long this play can work is the question. Even if Russian barrels do leave the market, it's also possible that demand growth disappoints in the second half as the impact of Trump's trade war becomes more apparent, cutting global trade and lowering economic growth. Enjoying this column? Check out Reuters Open Interest (ROI), your essential new source for global financial commentary. ROI delivers thought-provoking, data-driven analysis of everything from swap rates to soybeans. Markets are moving faster than ever. ROI can help you keep up. Follow ROI on LinkedIn and X. The views expressed here are those of the author, a columnist for Reuters.

Experts divided over Bangladesh Asean bloc bid
Experts divided over Bangladesh Asean bloc bid

The Sun

time34 minutes ago

  • The Sun

Experts divided over Bangladesh Asean bloc bid

PETALING JAYA: Bangladesh's renewed bid to join Asean has divided opinion among Malaysian experts, with some warning of geopolitical fallout and others highlighting possible strategic and economic gains for Malaysia. The proposal re-emerged after a meeting in Dhaka last week between PKR deputy president Nurul Izzah Anwar and Bangladesh's interim leader Muhammad Yunus, who appealed for Malaysia's support for the South Asian nation's entry into the 10-member regional bloc. But analysts remain split on the viability of the move and its implications for Asean unity and Malaysia's national interests. Nusantara Academy for Strategic Research senior fellow Dr Azmi Hassan questioned the logic of including Bangladesh, noting that it lies well outside Asean's traditional geographic boundary. 'Compared with Timor-Leste, which is within the Asean region, Bangladesh is quite distant.' Azmi said a similar proposal to admit Papua New Guinea, supported by Indonesia at last year's Asean Summit, failed to gain traction. 'If Papua New Guinea didn't get support from Asean members, then even less so for Bangladesh,' he said, adding that Dhaka's entry could stir geopolitical sensitivities involving both Pakistan and India. 'Among the 10 Asean member states, I doubt there would be much support for Bangladesh's inclusion. 'In contrast, Timor-Leste had strong backing from Malaysia and Thailand. For Bangladesh, I don't see any member likely to champion its entry.' On the other hand, International Islamic University Malaysia international law and relations expert Assoc Prof Dr Mohd Yazid Zul Kepli said Malaysia could stand to gain strategically from supporting Bangladesh's bid, particularly in trade, energy and maritime security. 'Economically, Malaysia could benefit from greater market access, increased investment flows and labour cooperation, given Bangladesh's large workforce and growing economy.' Still, Mohd Yazid acknowledged the geopolitical risks, particularly the risk of India gaining indirect influence within Asean, which could complicate the bloc's relationship with China. 'Malaysia should navigate this by framing Bangladesh as a neutral economic partner and emphasising shared development goals.' He added that closer Asean ties could lead to better protections for Bangladeshi workers in Malaysia – one of the country's largest migrant groups – although any expansion must be approached with caution. 'Expanding Asean's size is not necessarily good. There should be in-depth analysis of the pros and cons.' Economist Prof Dr Geoffrey Williams offered a more critical perspective, warning that Asean is too fragmented to consider enlargement at this stage. 'Asean is not yet ready for expansion and inclusion of unstable new members,' he said, citing the unresolved tensions between Thailand and Cambodia. Williams said Malaysia does not need Asean to deepen its ties with Bangladesh. 'Any economic benefits can be achieved through a free trade agreement with Bangladesh, covering the free movement of labour and capital and zero tariffs. Asean membership is not necessary.' He also dismissed the idea that the bloc would improve governance of regional labour migration. 'Improved labour mobility can happen if Malaysia removes the agency system and cuts corruption and vested interests.' Williams added that Asean's internal diversity – spanning absolute monarchies, military regimes and one communist one-party state – already presents significant obstacles to integration. 'Adding new countries will only make integration more difficult.' Asean has never yet admitted a country outside Southeast Asia. Timor-Leste remains the only non-member in the process of formal accession. Papua New Guinea, despite previous interest, has yet to garner sufficient support.

Tariff cut offers some relief but not without trade-offs
Tariff cut offers some relief but not without trade-offs

New Straits Times

time34 minutes ago

  • New Straits Times

Tariff cut offers some relief but not without trade-offs

KUALA LUMPUR: Malaysia's successful push to reduce punitive United States (US) tariffs from 25 to 19 per cent offers partial relief to exporters and calms fears of a steeper economic fallout. But the reprieve, economists say, is no cause for celebration, as it is "modest at best", and likely came in exchange for Malaysia holding the line on sensitive domestic policies. COST REMAINS HIGH Economist Dr Geoffrey Williams said the revised tariff, although pitched as a win, continues to impose a heavy cost. "It just puts Malaysia in line with Indonesia and the Philippines and only marginally below Vietnam. Singapore has no reciprocal tariffs, so is way ahead of other Asean countries," he told Business Times. Williams estimated that a 10 per cent reduction in Malaysian exports to the US, the world's largest consumer market, could cost the economy RM20 billion or RM670 per person. "This is the cost of protecting Malaysian markets with non-tariff barriers and Bumiputera preference schemes," he added. POLICY RED LINE Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz said Malaysia stood firm during negotiations by drawing a "red line" on domestic economic policies. He said the 19 per cent tariff rate was achieved without compromising the nation's sovereign right to implement key policies to support socio-economic stability and growth. Williams described these trade-offs as "a huge cost" to maintaining what he called Malaysia's protectionist policies. "If the 19 per cent tariff is due to refusal to remove barriers, cut Bumiputera preferences and improve trade access, then there is a huge cost to maintaining these Malaysian protectionist policies." GEOPOLITICAL RECALIBRATION Center for Market Education chief executive Dr Carmelo Ferlito said the US tariff regime should be seen as part of a broader geopolitical recalibration. He said it had become clear early on that US President Donald Trump was not aiming for high tariffs per se, but rather to compel various players to come to the negotiating table and secure broader advantages for the US. "And of course, re-affirming that the US is the biggest consumer in the world and it's important not to get out of their influence area." While short-term impacts may take time to materialise, Ferlito pointed to deeper structural consequences. "Tariffs do not directly translate into higher prices. But the medium-run outcome will be fewer occasions for trade, fewer products in the market and potentially job losses." He urged Malaysia to strengthen its structural competitiveness instead of relying on reactive government support. "The only useful government support comes from regulation that makes business easier, limiting compliance and administrative duties and slashing anything that hinders competitiveness." CAUTIOUS OPTIMISM Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the tariff reduction signals Washington's openness to negotiation. "As a result of recent discussions, the previously imposed retaliatory tariffs of 25 per cent have now been reduced to 19 per cent. Consequently, the negative impact on Malaysia's economy is expected to be slightly mitigated," he said. Even so, Afzanizam noted that external headwinds remain a concern. Bank Negara Malaysia has revised its gross domestic product (GDP) growth forecast for 2025 to a more cautious range of 4.0 to 4.8 per cent, down from an earlier projection of 4.5 to 5.5 per cent. The revised outlook was announced ahead of the 13th Malaysia Plan (13MP), which sets an annual growth target of 4.5 to 5.5 per cent between 2026 and 2030. Meanwhile, CIMB Treasury and Markets Research and Hong Leong Investment Bank (HLIB) viewed the tariff outcome as a mixed but ultimately strategic result for Malaysia. STRATEGIC COMPROMISE While CIMB Research noted that Malaysia stood firm on protecting key domestic policies, which led to a mid-tier 19 per cent rate, it also highlighted that the country still lags behind Singapore, which remains exempt. HLIB, meanwhile, described the reduction as broadly positive, saying it enhances Malaysia's competitiveness in attracting foreign investment and reinforces its role in global supply chain diversification. STAYING RESILIENT As Malaysia begins implementing the 13MP, which includes RM611 billion in total planned funding and RM430 billion in development expenditure, economists agree that long-term strategies to enhance resilience will be critical. Afzanizam said the country must invest in productivity and forge new global partnerships, particularly with Europe, the BRICS bloc and Asean neighbours. "These measures will reinforce investor and business confidence, underpinned by pragmatic policies and the government's proactive response to emerging challenges," he said. Still, external risks persist. Afzanizam said the 19 per cent US tariff could weaken consumer purchasing power in the world's largest economy, potentially dragging on global demand and growth. Williams, meanwhile, said the timing of the announcement could not have been worse. "This will certainly take the shine off the RMK13 launch on Friday and will be the immediate focus of concern," he said.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store