The dollar-yen exchange rate rose sharply on March 29 due to factors such as dollar-buying for actual demand by Japanese importers (dollar-buying/yen-selling related to the end of the fiscal year). It was also affected by a resumption in selling of the yen due to the risk appetite set against the backdrop of a rapid rise in the dollar/yen and the cross-yen, and a challenge to dollar-buying/yen-selling following the breakthrough of the Ichimoku equilibrium. And so after rebounding from the low of 130.41 recorded the previous day, the dollar/yen surged on Thursday to 132.89 – the highest price range since March…
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The timely arrival of an interest-free loan is to help grocer Brak Lim heang keep providing for her customers in her neighbourhood in Phnom Penh’s Meanchey district despite seasonal supply challenges. The innovative businesswoman is already strategising her business for the sweltering hot and drenched rainy seasons – stocking up on essential goods to help her business thrive and ensure there is enough stock for her regular customers. Sovannaphum Life Assurance Plc’s funding for women entrepreneurs – the company’s corporate social responsibility (CSR) project for this year – has come at a crucial time for Limheang, who plans to use…
The price of gold last week neared its highest price in history – the $2,070.88 per ounce recorded in August 2020, which occurred during the global economic havoc wreaked by the Covid-19 outbreak. Last Tuesday’s monthly high price of gold was around $2,009 per ounce, and a bullish trend is forecast to continue. With the global economy rocked by the recent bank collapses in the US and serious banking trust issues in Switzerland, gold as a safe-haven asset may break its record high. “A scramble by Switzerland’s authorities to shore up confidence in Credit Suisse went some way to calming…
ABA Bank, the largest commercial bank in Cambodia, announces successful cooperation with Lanmei Training Center (LTC) in financing and facilitating the purchase of the first Airbus A320 Full-Flight Simulator in Cambodia. The official launch ceremony of the simulator was held in Phnom Penh on 21 March 2023. Being a subsidiary of National Bank of Canada, ABA Bank served as the key player providing financing to facilitate the agreement between Canadian Aviation Electronics and LTC for the purchase of the simulator. Lanmei Training Center purchased the CAE-TSP 1000XR simulator to continuously train the flight personnel of airlines based in Cambodia, including…
The USD/JPY currency pairing plunged from 133.01 to 131.01 after the Federal Reserve raised interest by 25 percentage points, with the decision by the US central bank’s rate-setting Federal Open Market Committee (FOMC) on Wednesday the week’s main financial event. With the Ichimoku Kinko Hyo indicator expected to reverse in the three main factors of Sanyaku – suggesting a strong sell signal in the next few days – sentiment, from a technical point of view, can be judged to be weak. In terms of fundamentals, there are some indicators that investors and traders should take into consideration. First, despite UBS’…
Gold prices on Friday skyrocketed amid the continuing shocks being felt in the current US banking crisis, marking the highest price in four months. The price rose from $1,920 per ounce on opening to a day high of around $1,989 per ounce. Reuters on Friday reported: “Gold prices surged more than two per cent on Friday as a wave of banking crises shook global markets and put bullion on track for its biggest weekly rise in three years, while bets solidified for a less aggressive Federal Reserve in its fight against inflation. “‘Gold is surging on fears that more bad…
Houn Phally, who grew up watching her father run his handmade shoes business, decided to follow in his footsteps by starting her own such enterprise in Kandal province. Drawing inspiration from her father’s success, the enterprising mother-of-two launched Khmer Corp, which makes quality men’s and women’s footwear for the local market and sold online. “My father was well-known in the community for his handcrafted shoes, and I was so disappointed when he closed down his shop. “Having learned to make shoes from my father and by watching YouTube videos, I decided to carry on his legacy,” said the 32-year-old Phally.…
Prudential celebrated its 10th anniversary in Cambodia at the Raffles Grand Hotel d’Angkor recently. This was followed by a gala dinner at Thommanon Temple in Siem Reap province. The celebration marked a major milestone for Prudential Cambodia, a subsidiary of Prudential Plc, which celebrates its 175th anniversary of history worldwide this year. The event highlighted the company’s positive impacts in the industry and community, its digital transformation, and its commitment to social responsibility. The event was presided over by HE Ros Seilava, Secretary of State, Ministry of Economy and Finance, HE Bou Chanphirou, Director General of Insurance Regulator of Cambodia,…
Angkor Beer – the “Gold of Angkor” – has a new look, one that is more stylish and carries a premium appeal, as well as a fresher taste and smoother flavour, making it the perfect choice for any gathering. Angkor Beer recently launched its new design, one that embraces national pride by showcasing the decorative “Kbach” style of Cambodian art. This further strengthens Angkor as the national beer, one that continues – as it has always done – to put Khmer heritage and culture to the forefront. “We have been in every Cambodian’s heart for more than three decades, and…
TrueMoney – one of Cambodia’s largest fintech companies – is joining forces with union Commercial Bank Plc (UCB), one of the leading foreign banks in the Kingdom. The signing of the memorandum of understanding (Mou) took place late last month. The partnership allows UCB’s corporate customers to access one of Cambodia’s largest salary withdrawal (cash-out) networks. This means the some 10,000 TrueMoney Agents will become “human ATMs”, allowing employees of UCB’s corporate customers to withdraw their salary with ease and free of charge. TrueMoney (Cambodia) Acting Ceo Khuon Frandara said: “our partnership with UCB is a win-win strategy for both…