Oil continued in its downward tumble, with the bearish trend seeing the price of crude slide from a peak of $95.30 dollar per barrel in September to settle below $69 a barrel in Tuesday trading. Market sentiment showed concerns over the effectiveness of a significant production cut by the Organisation of the Petroleum Exporting Countries and its allies (OPEC+), oversupply in the US crude inventory and resilient inflation. An additional production cut of one million barrels a day was announced at the November 30 OPEC+ meeting, while “Saudi Arabia agreed to extend its cut of one million barrels a day…
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Marum Estate – the brainchild of Sir Stamford Raffles (Cambodia) Co Ltd – clinched two prestigious awards at the 18th Annual PropertyGuru Asia Property Awards Grand Final, solidifying its standing as the region’s pioneer in groundbreaking real estate. The Grand Final of the 2023 PropertyGuru Asia Property Awards was held on December 8 at The Athenee Hotel, a Luxury Collection Hotel in the Thai capital Bangkok. The black-tie gala dinner and presentation ceremony, which recognised the elite of the region’s real estate development industry, brought together winning developers – crowned at their respective country-level awards throughout 2023 – from 13…
Wildlife Alliance is responding to a recent video by VOD that it considers to be sorely inaccurate and seriously misleading. VOD released on the VOD Facebook page on December 10 a video that has seriously misled the public and portrayed Wildlife Alliance as complaining that the government is creating a new development inside the Royal Decree Protected Phnom Tamao Forest. Wildlife Alliance regards this as sorely inaccurate and is asking VOD to remove the video. Wildlife Alliance considers its manager Nick Marx to have been manipulated by VOD, which mixed his statement with that of a Mr. Ma Chetra that…
ABC – Cambodia’s leading brand of stout – is offering engaged couples a once-in-a-lifetime opportunity: two of the Kingdom’s finest fashion designers will bring two lucky couples’ dream wedding outfits to life – personalised and handmade just for them. A wedding is one of life’s most treasured events. In recognition of this, ABC wants to honour the couples’ big day with an exceptional wedding gown and suit, a perfect set that is as special and one of a kind as their love story. Whether traditional or contemporary, extravagant or subtle, the couples are encouraged to let their imaginations run wild.…
While the strength of the dollar has fallen in general, with heavy resistance at around 147 yen, weaker-than-expected US October Job Openings and Labor Turnover Survey (JOLTS) data saw the dollar-yen currency pair (USD/JPY) drop to 146.56. Subsequent attempts at recovery stalled at 147.38, with the inability to surpass the previous high set earlier on December 5 highlighting the strength of the resistance level. October’s US JOLTS report showed a decline in job openings for the second consecutive month, fuelling speculation that the US Federal Reserve may soon pause its rate hikes and potentially even consider cuts in the spring. …
Dovish remarks from Christopher J Waller, a member of the Federal Reserve Board of Governors, regarding possible future US rate interest cuts have seen a weakening of the greenback. “I am increasingly confident that policy is currently well positioned to slow the economy and get inflation back to two per cent,” Waller told the American Enterprise Institute think tank in Washington on November 28. Reuters reported that “Bond yields fell after the remarks, and traders moved to price rate cuts starting in May and dropping more than a full percentage point in 2024”. And Naoto Arase, Head of the Fintech…
After reaching a September 28 high of nearly $95 per barrel, a climbing crude oil price tumbled into a downturn, testing a low of $81.56 per barrel on October 6. However, intensifying geopolitical tensions surrounding the Israel-Hamas war that began on October 7 pushed the price back up, reaching its previous support of around $88.24 per barrel. But the market’s decreasing focus on the war and its effects has played a part in oil’s decline, with a low of $72.22 per barrel recorded on November 16, as this week began with talks of a “pause” to the conflict. “Israel and…
The American Math Competition (AMC) is now open for public registration for students from Grade 4 to Grade 11. The AMC will take place on Saturday, January 20, 2024 at Westview Cambodian International School.The rigorous American Math Competition is conducted through the NWEA MAP test, which is recognised by many well-known international schools across 145 countries worldwide. This is the third year of the AMC, with students from 20 international schools having joined the competition. Contestants will be required to bring a laptop running Microsoft Windows (not a MacBook), which they will use to complete the assessment questions on the…
Based on last week’s price chart, the “head and shoulders” pattern in a four-hour timeframe broke the neckline causing the price of gold to plummet from around $1,993 per ounce to $1,933. However, the market needs to assess the implications of the US dollar’s technical strength and whether it can be sustained, given that the recent monthly US Consumer Price Index (CPI) economic data indicated a depreciation of the greenback, supporting a gold recovery. According to Forex Factory, the actual data for the monthly Core CPI for October was 0.2 per cent,0.1 per cent lower than for the previous month, while…
During Global Media and Information Literacy Week, the ASEAN Foundation – with support from Google.org, Google’s philanthropic arm – is hosting the ASEAN Digital Literacy Programme (DLP) Impact Forum in Bali, Indonesia from November 14-16, 2023. Held under the theme “Navigating Digital Resilience: Empowering ASEAN Communities through Digital Literacy”, the impact forum highlights the achievements and impacts of the of two-year programme’s implementation in the 10 ASEAN Member States. Additionally, the ASEAN DLP’s mission to combat misinformation and disinformation by providing digital literacy training across ASEAN countries also aligns perfectly with UNESCO’s theme for this year’s Global Media and Information…