The price of gold has seen a series of declines since August, from around $1,808 to $1,688 per ounce, mostly influenced by the US dollar receiving support from Federal Reserve interest rate hikes. Supported by a strong US economy still creating jobs, Reuters’ Hari Kishan reported, the Fed has stepped up its fight against inflation by raising interest rates faster than most other central banks. “That has helped the dollar turn in one of its best performances in at least a decade. “The dollar index, which was up around 15 per cent for the year, touched a fresh two-decade high…
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Prudential Cambodia – the largest life and health insurer in the Kingdom – on September 2 announced the launch of its pioneering insurance selling machines to make purchasing insurance more convenient. These machines will be made available at 50 locations nationwide in 2022 and installed in more cities nationwide in the coming years. Removing barriers to buying insurance Life insurance penetration in Cambodia was less than one per cent as of 2021, while out-of-pocket medical expenses were estimated in 2019 at $1.2 billion. With its purpose to help people get the most out of life, Prudential leverages its digitally enabled…
This week investors were looking for confirmation on whether or not to buy gold, with the value of the US dollar being boosted by the high possibility of interest rate hikes. After dropping six days in a row from the August 15 opening price of $1,801 per ounce to the August 22 closing price of $1,735 per ounce, the yellow metal had a three-day comeback. But the trend was interrupted by the fundamentals addressed by Federal Reserve chairman Jerome Powell at the Jackson Hole Economic Policy Symposium last Friday, when pledging that the Fed would keep raising interest rates to…
Panasonic Cambodia is continuing to support Cambodia’s ever-expanding real estate sector most recently as ‘Gold Sponsor’ for the 2022 PropertyGuru Cambodia Property Awards, the black-tie dinner and ceremony held at the Sofitel Phnom Penh Phokeethra ballroom. Speaking to The Phnom Penh Post during the awards ceremony, Panasonic Cambodia’s CEO and country head, Yasunobu Matsumoto congratulated all the award winners from a total of 36 categories presented at the event. “On behalf of Panasonic Cambodia, I would like to congratulate all the winners as well as those who were nominated for the 2022 PropertyGuru Cambodia Property Awards. “We look forward to…
With the launch of the Wat Phnom and Tuol Kork branches, Wing Bank is bringing its services even closer to customers Wing Bank (Cambodia) Plc has officially launched two more new branches in Phnom Penh, at Wat Phnom and Tuol Kork. The branches were opened in the esteemed presence of HE Rath Sovannorak, assistant governor of the National Bank of Cambodia and director-general of Banking Supervision, Neak Oknha Kith Meng, chairman of Wing Bank and CEO of Royal Group of Companies, and other distinguished guests. “I hope Wing Bank will bring cutting-edge technology and more financial products in line with…
Forte Insurance (Cambodia) announced this month that it has been recognised regionally with two prestigious awards. The Kingdom’s leading insurance company has been honoured as “Health Insurance Provider of the Year in Asia Pacific” by GlobalHealth Asia-Pacific and “Domestic General Insurer of the Year – Cambodia” by Insurance Asia. The awards acknowledge Forte’s commitment to bringing the best services to customers while providing financial protection and peace of mind. Notably, Insurance Asia gathers Asia’s leading insurance companies and recognises exceptional initiatives, products and solutions. Since 2016, more than 130 insurance companies from 30 countries have been honoured with the prestigious…
The price of crude oil has been in a bearish trend for nine consecutive weeks from its June high of $123.60 per barrel to an August low of $86.50 per barrel. “The downtrend possibly continues, as the market holds concerns over less demand due to the global economic slowdown, especially China’s downturn,” said Nhim Kosol, business manager at PP Link Securities. However, on Tuesday’s trading session, the market started to price on the possibility of Organization of the Petroleum Exporting Countries and its allies (OPEC+) cutting oil production in order to stabilise the volatile futures market, he added. Crude rose…
TechCreate Group jointly held a Digital Accelerator Forum with the Association of Banks in Cambodia at Phnom Penh’s Hyatt Regency on August 22, as the Singapore-based technology services provider marked its arrival in the Kingdom in style. TechCreate Group – a technology services group specialising in innovative digital payment digitalisation solutions IT security and infrastructure solutions – has invested in Cambodia with a local entity to reach out to different sectors within the Kingdom. And with this new setup, TechCreate Group is bringing its extensive digitalisation experience to the Kingdom, and joining Cambodia’s digital revolution. HE Nuon Pharat, the vice-governor…
ABA Bank, the number one commercial bank in Cambodia in terms of total assets, gross loans, customer deposits and profitability based on the National Bank of Cambodia’s Annual Supervision Report 2021, has earned another “Domestic Retail Bank of the Year” title in the Asia Banking and Finance magazine’s Retail Banking Awards 2022. The accolade praises ABA Bank’s remarkable achievements during the year and the development of its digital banking platform and services to bring convenient and innovative banking solutions to its customers. The judging panel’s decision is supported by ABA’s recent significant enhancements and improvements of its flagship ABA Mobile…
Wing Bank opens its latest branch in Sihanoukville, as the province transforms into a multi-purpose special economic zone Wing Bank (Cambodia) Plc has officially launched its Sihanoukville branch, in the esteemed presence of HE Rath Sovannorak, the National Bank of Cambodia’s assistant governor and director-general of banking supervision. HE Mang Sineth, the deputy governor of Sihanoukville province, and Neak Oknha Kith Meng, chairman of Wing Bank and CEO of Royal Group of Companies were also in attendance, along with other distinguished guests. “We believe that the presence of Wing Bank in Sihanoukville will help boost business activities and take the…