Important US employment data scheduled for release this week is forecast to be lower than previous months, suggesting gold could briefly rise from its current bearish trend. Average Hourly Earnings, the Unemployment Rate and the Non-Farm Employment Change – all of which are main US economic indicators and reflect the gold-dollar inverse relationship – are to be announced on Friday at 8:30pm Cambodian time, with the latter predicted to be down on January. While Average Hourly Earnings and the Unemployment Rate, according to forexfactory.com, are forecast to remain unchanged at 0.3 per cent and 3.4 per cent, respectively, the expectation…
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Confidence is crucial in guaranteeing successful commercial banking operations and development, and with trust at the core of its operations, Chief Bank Cambodia CEO Dr Soeung Morarith believes his financial institution is well placed for further growth. “There are some challenges, due to the recent negative economic effects of the Covid- 19 pandemic, geopolitical tensions and the war between Russia and Ukraine, as well as high inflation and rising interest rates globally. “However, as we have the right team, the right formula, innovative approaches and financial strength, we are confident of successfully overcoming these, and becoming stronger and more stable.…
In celebration of International Women’s Day on March 8, Sathapana Bank, a leading Cambodian commercial bank, has launched Mouy Teat – One More, an inspirational film telling the story of Som and the challenges she faces as the owner of a fabric store. Juggling running her business and taking care of her daughter, the film focuses on Som’s positive approach to life and her determination to succeed – by each time taking one more step. Mouy Teat – One More serves as a reminder that the foundation of productivity is good habits – the compound interest of self-improvement and success.…
Sathapana Bank on March 1 honoured 129 graduates from its “I’m Financially Literate” (IFL) programme in a ceremony held at the leading Cambodian commercial bank’s headquarters. The IFL Graduation Ceremony at Sathapana Tower in Phnom Penh celebrated the graduates, who all run small and medium-sized enterprises (SMEs) and micro, small and medium-sized enterprises (MSME) in the Kingdom. The event was attended by Sathapana Bank CEO Fung Kai Jin, Khmer Enterprise CEO H.E Dr Chieng Vanmunin, Manulife Cambodia Chief Partnership Distribution Officer Prou Sythan, Credit Guarantee Corporation of Cambodia CEO Wong Keet Loong and Sathapana’s Chief Transformation Officer Jennifer Lee. “We…
The dollar/yen exchange rate turned downward from the year-to-date high of 136.93 recorded on February 28, falling sharply to 135.26 due to position adjustments. PP Link Securities’ (PPLS) Head of Fintech Department Naoto Arase – a Japanese financial expert with some 40 years’ experience – said there were multiple support points lined up on the downside indicated by a 90-day moving average. And the Ichimoku Cloud technical analysis indicator showed three significant factors (sanyaku) suggesting a strong buy signal. “A short-term move is expected to test the 200-day moving average traded near 137.21. Considering the uptrend has been established and…
Sovannaphum Life Assurance Plc, with its financial strength and trust, is making women’s economic empowerment its top corporate social responsibility (CSR) priority this year by financing small-scale businesswomen. Its objective is consistent with the government’s vision of advancing financial inclusion across the social spectrum to increase economic and social equality. Sovannaphum Life is partnering with Lady Saving Group – part of Women Entrepreneurs Act, a non-profit organisation – to create a vibrant business environment for women to participate in. On March 8, the National Olympic Committee of Cambodia will host the “2023Women Run 10K “, which will be sponsored by…
The “KiddieQuest: Unlock Your Child’s Potential” event held at the Shrewsbury International School Phnom Penh over the weekend of February 26-27 was a resounding success. Parents and children from across the region attended and participated in “Meet the Teacher” sessions, explorations of Early Years classrooms and taster activities. There were also free development tests for babies aged between seven-24 months, which were administered by the Smart Baby Club team, a partner programme hosted at the school’s Flatiron campus. One of the highlights of the event was a stunning piece of handprint art, featuring more than 300 little handprints collected during…
We, Edenbridge Asia Partners Ltd., the authorized representative of Pernod Ricard (Cambodge) Co., Ltd. (“PR Cam”) by the Power of Attorney dated 02 March 2022, are honoured to announce to the public that PR Cam is still the authorized exclusive distributor for importing and distributing in Cambodia the products of alcoholic beverages bearing the below-listed trademark from the trademark owner’s company as indicated below: 1. Products of alcoholic beverages bearing trade-mark “G.H.MUMM” from G.H. Mumm & Cie – Société Vinicole de Champagne Successeur based on the Authorized Exclusive Distributorship Letter dated 13 August 2020 and the Extended Recordal Letter…
The price of oil has since early this year been moving sideways, trading in a range between $82 and $72 per barrel. Facing oversupply and lower-than-expected energy consumption in China after its reopening, crude’s downtrend has held firm. “Oil prices stagnated this week as traders confront bearish trends including rising US stockpiles and a rebound in demand that hasn’t lived up to expectations. “US crude inventories have grown by almost 24 million barrels in the last two weeks, adding to an already oversupplied market,” Bloomberg reported. The New York-based financial media outlet added that data from the Energy Information Administration…
To celebrate the official launch of its latest branch, Wing Bank is rolling out a zero-fee payroll service to all employers. Wing Bank (Cambodia) Plc officially launched its latest branch in the Royal Group Phnom Penh Special Economic Zone (RGPPSEZ) in the presence of HE Rath Sovannorak, Assistant Governor and Director General of Banking Supervision at the National Bank of Cambodia, NeakOknha Kith Meng, Chairman of Wing Bank and the CEO of the Royal Group of Companies, and other esteemed dignitaries. To celebrate the launch of the new branch, Wing Bank is rolling out a special service for all employers,…