KUALA Lumpur-based Maybank has announced that it will offer yuan trade settlements at its regional branches, which include Cambodia, following Beijing’s easing of trade in the Chinese currency. In a Monday announcement, the bank – which first opened in the Kingdom in 1993 – said it expected the new services in yuan to benefit ASEAN-based firms trading with the 365 Mainland Designated Enterprises permitted to settle in yuan as a dollar alternative. However, given the dollarised nature of Cambodia’s economy it remains unclear whether domestic firms will choose to settle trade in the Chinese currency.
In Brief: Maybank to offer yuan
- Prince injured, wife dies after accident
THE wife of former First Prime Minister Prince Norodom Ranariddh, Ouk Phalla, 39, died while the prince was “severely” injured following a road accident in Preah Sihanouk province’s Prey Nub district on Sunday morning, officials said. Rananriddh, who is also the president of the Funcinpec
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Some 20 former security guards at the US Embassy in Phnom Penh protested on Tuesday against their dismissal. They accused their employers of falsely claiming they had viewed and shared child pornography from their mobile phones as grounds for their termination. In total, 32 personnel were dismissed
- We’re going to Wisney World!
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