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The Star
4 days ago
- The Star
Cambodian police, defence officials charged with attempted bribery
Vorn Veasna, who served as deputy police chief of Battambang province's Bavel district, is in Prey Sar prison awaiting trial on serious bribery charges. - FB via PPP/ANN PHNOM PENH: A deputy police chief from Battambang province and an official from the Ministry of National Defence have been sent to Prey Sar Prison in connection with an attempted bribery scheme involving over US$770,000 from Thai nationals. The Anti-Corruption Unit (ACU) detained Vorn Veasna, who served as deputy police chief of Bavel district, Battambang province, and Tang Samnang, also known as Sok Chansamnang, an assistant to the deputy director-general of the defence ministry's General Department of Technical Materials, on May 23. The two were found to have colluded in an attempt to extort US$774,000 in bribes to secure the release of 43 Thai nationals who were detained by authorities for illegally working in Cambodia. ACU spokesperson Soy Chanvichet told The Post that the arrests stemmed from a joint operation by a task force from the National Police General Commissariat on May 2, which investigated the 43 Thai nationals in Poipet town, Banteay Meanchey province. From May 4-6, Veasna and Samnang are alleged to have conspired to collect US$774,000 in bribes to facilitate the release of the 43 detained individuals. However, their plan failed, and the 43 Thai nationals were deported from Cambodia on May 8. Chanvichet stated that the actions of the suspects constituted elements of the crime of attempted bribery, as stipulated in the Anti-Corruption Law and the Criminal Code. Additionally, Veasna, who deposited money received from the bribery scheme into a bank and used it, is also implicated in the offense of money laundering, according to Chanvichet. Four of their accomplices, who are currently at large, have also been charged with attempted bribery. The two suspects were detained by the ACU on May 23 and were sent to Prey Sar Prison for temporary detention by the court on May 26 after the Phnom Penh municipal court charged them with attempted bribery. Yang Peou, secretary-general of the Royal Academy of Cambodian, believed that law enforcement officers who violate the law pose a serious threat to the nation. 'Committing corrupt acts with foreigners who violate the law in Cambodia is like destroying Cambodia's reputation and dignity on the international stage. Corrupt officials harm the Kingdom's foreign policy. Secondly, it undermines the national economic system and fosters other negative activities in Cambodia,' he said. He compared such bribery to the actions of the mafia and reiterated the importance of rooting out wrongdoing by those who are responsible for enforcing the law. - The Phnom Penh Post/ANN
United News of India
24-05-2025
- Business
- United News of India
Forex reserves fall to USD 685.73 bn on May 16: RBI
Mumbai, May 23 (UNI) India's foreign exchange reserves declined by USD 4.89 billion (₹31,650 crore) in the week ended May 16, 2025, to stand at USD 685.73 billion (₹58.66 lakh crore), according to data released by the Reserve Bank of India (RBI) on Friday. Despite the sharp weekly drop, the overall reserves posted a robust year-on-year growth of USD 37.03 billion (₹4.59 lakh crore) and a rise of USD 17.40 billion (₹1.53 lakh crore) since the end of March 2025, reflecting underlying strength in India's external sector position. Foreign Currency Assets (FCA), which form the largest component of the reserves, increased marginally during the week by USD 279 million (₹11,019 crore), taking the total to USD 581.65 billion (₹49.75 lakh crore). Since March-end, FCA rose by USD 14.09 billion (₹1.24 lakh crore) and showed an annual gain of USD 12.64 billion (₹2.33 lakh crore). Gold reserves were valued at USD 81.22 billion (₹6.95 lakh crore), recording a steep weekly fall of USD 5.12 billion (₹42,520 crore). However, gold holdings were still higher by USD 3.04 billion (₹26,538 crore) from end-March and surged by USD 24.02 billion (₹2.18 lakh crore) over the year. Special Drawing Rights (SDRs) stood at USD 18.49 billion (₹1.58 lakh crore), down by USD 43 million (₹90 crore) over the week. SDRs rose by USD 321 million (₹2,866 crore) since March-end and also recorded a similar annual increase. India's Reserve Position in the International Monetary Fund (IMF) was reported at USD 4.37 billion (₹37,404 crore), reflecting a weekly decline of USD 3 million (₹59 crore). It was down by USD 52 million (₹451 crore) since March, but up by USD 44 million (₹1,279 crore) compared to the same period last year. The RBI noted that foreign currency assets exclude its own SDR holdings, investments in bonds issued by IIFC (UK), funds under SAARC and ACU currency swap arrangements, and contributions to Nexus Global Payments. UNI BDN RN
India Gazette
23-05-2025
- Business
- India Gazette
Rs 27,000 crore government securities auction fully subscribed
New Delhi [India], May 23 (ANI): Government securities (G-sec) auction of Rs. 27,000 crore bonds in two tranches on Friday was fully subscribed, reflecting strong investor demand. The cut-off price for both bonds was above par. The 6.75 per cent G-sec with a notified amount of Rs. 15,000 crore maturing in 2029 was sold at a cut-off price of Rs 103.49, yielding 5.8675 per cent. The 7.09 per cent G-sec with a notified amount of Rs 12,000 crore, maturing in 2054, was sold at a cut-off price of Rs 103.39, yielding 6.8197 per cent. The bond yield is the return an investor expects to receive each year over its term to per the auction results, the development of primary dealers was stated as 'NIL' for both thebonds, indicating healthy demand for G-sec from the investor community. Primary Dealers, commonly referred to as PDs, are financial institutions authorized by the RBI to buy and sell government securities. The underwriting auction was conducted through multiple price-based methods on May 23 (Friday) between 09:00 A.M. and 09:30 A.M. Bids under Additional Competitive Underwriting (ACU) auction was done electronically through the Core Banking Solution (E-Kuber) System. Earlier this year, on March 27, the government had notified the indicative calendar for theissuance of government-dated securities, including Sovereign Green Bonds (SGrBs), for thefirst half of the fiscal year 2025-26 (April 1, 2025, to September 30, 2025). The indicative calendar for such auctions is released beforehand in order to enable institutional and retail investors to plan their investments efficiently and to provide transparency and stability to the Government Securities market. (ANI)
India.com
23-05-2025
- Business
- India.com
Rs 27,000 Crore Government Securities Auction Fully Subscribed
New Delhi: Government securities (G-sec) auctioned Rs. 27,000 crore bonds in two tranches on Friday. On May 22, it was fully subscribed, reflecting strong investor demand. The cut off price for both bonds was above par. The 6.75 per cent G-sec with a notified amount of Rs 15,000 crore, maturing in 2029, was sold at a cut-off price of Rs 103.49, yielding 5.8675 per cent. The 7.09 per cent G-sec with a notified amount of Rs 12,000 crore, maturing in 2054, was sold at a cut off price of Rs 103.39, yielding 6.8197 per cent. The bond yield is the return an investor expects to receive each year over its term to maturity. As per the auction results, the development of primary dealers was stated as 'NIL' for both the bonds, indicating healthy demand for G-sec from the investor community. Primary Dealers, commonly referred to as PDs, are financial institutions authorised by the RBI to buy and sell government securities. The underwriting auction was conducted through multiple price-based methods on May 23 (Friday) between 09:00 A.M. and 09:30 A.M. Bids under the Additional Competitive Underwriting (ACU) auction were done electronically through the Core Banking Solution (E-Kuber) System. Earlier this year, on March 27, the government had notified the indicative calendar for the issuance of government-dated securities, including Sovereign Green Bonds (SGrBs), for the first half of the fiscal year 2025-26 (April 1, 2025, to September 30, 2025). The indicative calendar for such auctions is released beforehand in order to enable institutional and retail investors to plan their investments efficiently and to provide transparency and stability to the Government Securities market.
Time of India
22-05-2025
- Business
- Time of India
Government to auction Rs 27,000 crore in securities, split into two tranches
Representative image NEW DELHI: Government has announced the sale (re-issue) of dated government securities totaling Rs 27,000 crore, set for Friday. The auction will be split into two segments: Rs 15,000 crore at 6.75 per cent maturing in 2029, and Rs 12,000 crore at 7.09 per cent maturing in 2054. According to a statement from the Reserve Bank of India (RBI), the underwriting auction will be conducted using a multiple price-based method. The auction details include specifications for the Minimum Underwriting Commitment (MUC) and minimum bidding requirements under the Additional Competitive Underwriting (ACU) framework for each Primary Dealer (PD). Primary Dealers are permitted to submit their ACU bids electronically via the Core Banking Solution (E-Kuber) System between 9.00 am and 9.30 am on the day of the auction. 'The underwriting commission will be credited to the current account of the respective PDs with RBI on the date of issue of the securities,' the central bank said, as reported by ANI. Earlier, on March 27, the government released the indicative calendar for the issuance of dated government securities—including Sovereign Green Bonds (SGrBs)—for the first half of the financial year 2025–26 (April 1 to September 30, 2025). by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo The advance publication of the auction schedule aims to enhance transparency and promote better investment planning among institutional and retail investors, thereby contributing to the stability and efficiency of the Government Securities (G-Sec) market. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
