The price of oil has rallied 15 per cent from last week’s low of $98 per barrel to a Tuesday high of $113 with news of Shanghai’s plans to end its Covid-19 lockdown by June. And a global squeeze on refined products prompted concerns about summer supplies continuing to pull fuel prices higher, reported Julia Fanzeres of Bloomberg. On the development in the Chinese commercial capital, Reuters reported: “Shanghai plans for the return of more normal life from June and the end of a painful Covid-19 lockdown that has lasted more than six weeks and contributed to a sharp slowdown…
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CP Cambodia Co Ltd last Thursday opened a new state-of-the-art food processing factory in Kampot province as the leading agro-industrial and food conglomerate further raises the standard of food production in the Kingdom. Cambodia’s Minister of Interior Sar Kheng and Kampot provincial governor Mao Thunin joined CP Cambodia senior vice-president Wittaya Kreangkriwit, Mr. Preeda Chunwong, vice chairman, and CP Management and Thai Ambassador to Cambodia HE Panyarak Poolthup, as well as other dignitaries and guests of honour, at the official opening ceremony. Sar Kheng praised the creation of the more than $5 million facility in Kampot’s Chomkiri district – which…
We, Edenbridge Asia Partners Ltd., the authorised representative of Pernod Ricard (Cambodge) Co., Ltd. (“PR Cam”) by the power of attorney dated 02 March 2022, is honoured to announce to the public that PR Cam has been appointed as the authorised exclusive distributor for importing and distributing in Cambodia the products of wines/alcoholic beverages bearing the below-listed trademarks from the trademark owners’ companies as indicated below: 1. Products of wines bearing trademark “HAVANA CLUB” from HAVANA CLUB HOLDING, S.A based on the Authorised Exclusive Distributorship Letter dated 06 December 2021 and Recordal Letter of Exclusive Right for Import and…
The recent US interest rate hike and the Russia-Ukraine war have continued to impact some global stock markets since the start of the week. The Standard and Poor’s 500 (S&P500) was down 3.20 per cent and the Nasdaq (Nas100) 4.29 per cent, while the Dow Jones Industrial Average (DJIA) dipped 1.99 per cent. This comes on the heels of the Federal Reserve’s May 4 announcement to raise interest rates by half a percentage point to a range of 0.75 per cent to one per cent to tackle rising inflation. Interest rates are also expected to rise further to keep pace…
Metfone deputy general director Cao Manh Duc on Wednesday led a delegation to the National Olympic Committee of Cambodia (NOCC) to hand over 700 roaming and internet-enabled SIM cards for Cambodian athletes and delegates to use during the SEA Games in Hanoi, Vietnam. The Cambodian athletes and delegates will join the 31st SEA Games in Hanoi from May 12 to 23. Metfone, a leading company in Cambodia for telecoms and digital technology, has provided the team with SIM cards with roaming and internet data services as well as call minutes — part of its efforts to support the national team.…
Gold prices fell on Tuesday, approaching their lowest level since mid-February, as the prospect of a rate hike by the US Federal Reserve and a stronger greenback dampened the attractiveness of bullion. Gold prices have dropped drastically this week from $1,998 to $1,860 per ounce. The bearish external market factors of a strong US dollar near a 20-year high and higher US Treasury yields hit precious metals early this week. The US central bank’s Federal Open Market Committee is likely to raise interest rates by 0.5 per cent this week, amid the highest inflation levels in 40 years. Higher interest…
The Covid-19 pandemic revealed two profound changes in the life insurance segment – growing positive perception among consumers towards insurance and insurers abandoning traditional sales channels to leap into the digital space and improve delivery. While the unprecedented pandemic strained public health services, destroyed livelihoods and businesses, changed lifestyles and pummelled economies across the globe, the Kingdom’s life insurance industry was relatively unscathed. The Insurance Regulator of Cambodia’s (IRC) impressive figures speak volumes of the industry’s survival and performance, though still at a nascent stage, with the value of premiums in 2021 touching $293 million, a 9.5 per cent rise…
Etiqa Life Insurance (Cambodia) Plc is offering balanced protection and wellness plans for all segments that are delivered through its digital channels and bank partner Maybank Cambodia – which is part of Malaysia’s top financial services provider Maybank Group. CEO Horng Vuthy shares the company’s vision for the Kingdom. Etiqa Cambodia brings a regional flavour to the Kingdom’s life insurance. SUPPLIED What is Etiqa Cambodia’s plan in the Kingdom? Etiqa’s purpose is that we want to make the world a better place by putting the interests of our customers and communities first, by providing protection and wellness offerings to as…
Sovannaphum Life Insurance is gearing its value-packed customer-centric products to appeal to the Kingdom’s highly under-insured population by scaling up its sales channels digitally and deploying a “win-win” tactical marketing strategy. With the company marking its sixth anniversary next month, Sovannaphum Life is confident of a steady growth path largely due to evolving consumer habits. The win-win scenario is that Sovannaphum Life will provide life insurance products which go beyond expectations by providing more value-added services – VAS – to customers without further expense, meaning Sovannaphum Life customers enjoy more benefits at no extra cost. “Such VAS will be cost…
GC Life Insurance – with the Kingdom witnessing a tapering off of Covid-19 – is leveraging on its customer-friendly digital platforms combined with a skilled workforce to tap demographic trends and harness the market. Underscoring that there is a “big potential market” for insurance in Cambodia, with market penetration levels remaining low compared to neighbouring ASEAN countries, the insurer is rolling out personalised products – specifically targeting women and children this year. “GC Life focuses on launching different types of unique insurance products to enrich people’s lives, such as our GC Neary Care – which has been specifically designed for…