Deadly Collision Claims 67 Lives in U.S. Air Disaster | At Least 30 Dead and Many Injured in Stampede at Maha Kumbh Mela in India | Chinese President Xi Jinping Affirms Cambodia's Role as a Key Partner in China’s Diplomatic Strategy | Xi Jinping Concludes State Visit to Cambodia, Strengthening Bilateral Ties | Chinese President Xi Jinping Concludes Successful State Visit to Cambodia | Chinese Ambassador: US-China Trade Tensions Harm Developing Nations; President Xi Urges Investment in Cambodia and Expanded Market Access | Japanese Maritime Self-Defense Force Ships Bungo and Etazima Dock at Ream Sea Base for Four-Day Visit | Prime Minister Hun Manet Expresses Displeasure Over Criticism of Chinese Investments During Kampot International Tourist Port Inauguration | Asian Development Bank Collaborates with Cambodia on New Development Projects Worth Over $1 Billion |
Deadly Collision Claims 67 Lives in U.S. Air Disaster | At Least 30 Dead and Many Injured in Stampede at Maha Kumbh Mela in India | Chinese President Xi Jinping Affirms Cambodia's Role as a Key Partner in China’s Diplomatic Strategy | Xi Jinping Concludes State Visit to Cambodia, Strengthening Bilateral Ties | Chinese President Xi Jinping Concludes Successful State Visit to Cambodia | Chinese Ambassador: US-China Trade Tensions Harm Developing Nations; President Xi Urges Investment in Cambodia and Expanded Market Access | Japanese Maritime Self-Defense Force Ships Bungo and Etazima Dock at Ream Sea Base for Four-Day Visit | Prime Minister Hun Manet Expresses Displeasure Over Criticism of Chinese Investments During Kampot International Tourist Port Inauguration | Asian Development Bank Collaborates with Cambodia on New Development Projects Worth Over $1 Billion |

FINANCE Friday 24th JUNE

  • Posted Jun 24, 2022 13:48 by Anthony Ellis
  • 2578
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PHNOM PENH: The CSX Index is currently at 493.60 Points up 2.61 Points or 0.53%

National bank of Cambodia Daily Exchange Rate is 4,067KHR to the USD$

Nestlé Eyeing Setting Up Plant in Cambodia.

Nestlé, one of world's largest food and beverage companies, is eyeing an operation of its manufacturing in Cambodia for both domestic supply and export.

The good news was unveiled recently by Pan Sorasak, Minister of Commerce after leading a ministry's delegation for a visit to Nestlé company in Switzerland.

He explained that Cambodia has just inked bilateral free trade agreements with China and South Korea, and the Regional Comprehensive Economic Partnership Agreement (RCEP) with 10 ASEAN countries and partners including China, Japan, Korea, Australia and New Zealand; so Nestlé sees this as an opportunity for its products.

This opening was amplified by various reforms introduced by the Royal Government to better business and investment in Cambodia, he added.

Cambodia laws on quality control, safety of products and services, consumer protection, and competition are also building confidence among buyers of products from Cambodia.

Source AKP

Dollar stumbles as rate path fuels recession worries.

TOKYO, June 24 - The U.S. dollar slipped against its major peers on Friday, on course for its first weekly decline this month as investors continue to assess the path for Federal Reserve policy and whether aggressive rate hikes would trigger a recession.

The safe-haven currency also lost support amid improved market sentiment, which saw regional stock markets rise and buoyed riskier currencies like the Australian and New Zealand dollars.

The dollar index , which measures the greenback against six rivals, sank 0.2% to 104.19 in Asia. That undid the previous day's 0.19% rise, which was driven mostly by a decline in the euro after weak European factory data reduced bets for European Central Bank tightening

Against the yen , which is extremely sensitive to changes in U.S. yields, the dollar eased 0.2% to 134.66. For the week, it was down 0.25%, and set to snap a three-week, 6.19% winning streak.

The euro ticked up 0.22% to $1.05435, but after tumbling 0.44% overnight after weaker-than-expected German and French PMI figures.

For the week though, the euro remains up 0.52% against the dollar.

Sterling rebounded 0.14% to $1.22785, putting it on track for a 0.48% weekly rise that would end a three-week losing run.

Australia's dollar ticked up 0.28% to $0.6914, but was still set for a 0.32% weekly decline, its third straight losing week. The New Zealand dollar gained 0.4% to $0.6302, paring its loss for the week to 0.19%.


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