Prudential Cambodia and ACLEDA Bank Plc on January 13 marked a decade of their successful partnership, having protected thousands of Cambodian families and helped numerous lives over the course of the alliance since joining forces back in 2013. The “10 Years of Partnership” celebration at Sokha Hotel was presided over by Dr Hor Sovathana, Deputy Director General of the Insurance Regulator of Cambodia, and Heng Bomakara, Deputy Director General of Banking Supervision at the National Bank of Cambodia, Huy Vatharo, Chairman of the Insurance Association of Cambodia, Dr In Channy, President and Group Managing Director of ACLEDA Bank, and Sanjay…
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The price of gold has been in a bearish stance for the past few days after six consecutive weeks of gains, rising from around $1,791 to $1,925 per ounce. PP Link Securities business manager Chhea Chhayheng says the drop was significant. With the daily charts, the bearish trend started last Thursday when gold, which had been looking to break $1,950 per ounce, fell to around $1,920. Wednesday’s opening price was $1,928. Chhayheng says prices below the strong technical support of around $1,880 per ounce were the next short-term targets for selling, while the historical resistance of $1,950 per ounce was…
Sovannaphum Life Assurance Plc – the leading life insurance company in Cambodia with financial strength and trust – kicked off the New Year with an event carrying the theme “We are #1 in 2023”. The sales event took place on January 14 at Dara Airport Hotel in Phnom Penh, with more than 400 staff from across the Kingdom in attendance. During his opening remarks, Sovannaphum Life CEO Loke Kah Meng presented the key achievements in 2022 and the top priorities for 2023, followed by a declaration of the commitment and strategies of the Channel and Division heads to achieve the…
Prudential Cambodia, a leading life insurance company in the Kingdom, has announced a strategic partnership with Sing-Specialists Medical Centre (SSMC) to enhance the healthcare landscape in Cambodia. The partnership aims to provide customers with a variety of value-added services and benefits. Sing-Specialists Medical Centre is a comprehensive and holistic medical facility that brings Singapore’s healthcare standards to Cambodia. The centre offers a wide range of services, including medical consultations, teleconsultations, radiology diagnostics, cardio diagnostics, laboratory tests, health screenings, vaccinations, treatments, dialysis and medical supplies. Prudential Cambodia is committed to making healthcare affordable and accessible for Cambodians, and as part of…
With the opening of its first ever branch in Battambang province, Wing Bank is further expanding its banking network in Cambodia. Wing Bank (Cambodia) Plc has officially launched its newest branch in Battambang to bring its modern banking products and services to the northwestern province for the convenience of the community. The ceremony was held in the presence of HE Rath Sovannorak, Assistant Governor and Director General of Banking Supervision of the National Bank of Cambodia, HE Moul Thon, Battambang Deputy Provincial Governor, Neak Oknha Kith Meng, Chairman of Wing Bank and CEO of the Royal Group of Companies, and…
The recent rally in the price of oil from a monthly low of $72.40 to a high of $82.35 a barrel on China’s move away from Covid measures – which Bloomberg said “may spur daily consumption to hit a record in 2023” – stalled slightly this week. “Bullish momentum seemed to slow down as oil erased gains from the past two sessions as earnings from multiple US companies disappointed, potentially signalling a gloomy short-term outlook for energy traders,” Bloomberg reported on Wednesday. Reuters said that “an OPEC+ panel is likely to endorse the producer group’s current oil output policy when…
The majority of the inhabitants of Ratanakkiri province’s most remote districts are indigenous people who support themselves through the cultivation of cashews, soybeans, mung beans, upland rice and cassava. The growing of such cash crops has served as an additional source of income to their traditional practices of accessing forest resources, swidden cultivation and animal husbandry, and provided for everyday living – until recently. Things changed when many began aspiring to the consumerist way of life found in urban areas, spending their income on modern possessions such as the latest model smartphone, new motorbikes and cars, and fashionable clothes. And…
Gold prices have been in an uptrend for three consecutive months since November, recovering from a seven-month-in-a-row drop. The opening price was $1,914.66 per ounce on Tuesday. Based on the daily price chart, the pattern was indicating a “double bottom”, meaning the price of gold would move higher. With Chinese New Year just a few days away, PP Link Securities business manager Long Samnang says demand for the yellow metal would increase significantly, pushing up the price. A “flattening” of the US bond yield curve and a World Bank report citing “a number of adverse developments” leading to possible recession…
Sathapana Bank recently hosted a Musica Felice charity event at the leading Cambodian commercial bank’s headquarters in Phnom Penh. The one-hour concert by Musica Felice – a Phnom Penh choir founded by Miwako Fujiwara that puts on performances to raise money for good causes – was held at Sathapana Tower on January 15. All proceeds from the concerts are donated to charitable causes in Cambodia, and to provide opportunities for talented young musicians unable to afford music tuition. The concert, in partnership with Sathapana Bank, was Musica Felice’s 12th major performance since its inception in 2017. [img] Since then, more…
ABA Bank, the largest commercial bank in Cambodia, inked the Sponsorship Agreement with the Cambodia SEA Games Organizing Committee (CAMSOC) as the “Exclusive Bank Sponsor” and “Exclusive Cashless Payment Sponsor” of the 32nd Southeast Asia Games and the 12th ASEAN Para Games (SEA Games). Under the Agreement, ABA Bank is committed to providing $1,500,000 of in-cash and in-kind sponsorship to support the Cambodian national team and the hosts and facilitate marketing campaigns aimed at promoting the Games spirit among ABA customers. Another support of up to $150,000 will be used to match the donations for Team Cambodia made on the…