The US dollar yesterday surged to a high of K1425, buoyed by the Federal Reserve’s hawkish guidance and tension on trade between the world’s largest economies. The Central Bank of Myanmar set its reference rate at a record high of K1415 to the dollar. While the dearer exchange rate will likely have an impact on […]
Read MoreKUALA LUMPUR: All states that produce oil will receive 20% of profit from the resource, Prime Minister Tun Dr Mahathir Mohamad speaks in parliament. * Note: Campaign manifesto includes pledge to give 20% royalty to oil-producing Sabah and Sarawak states * Government’s priority is on cleaning out damage from corruption and efforts to recover missing […]
Read MoreMalaysia-based Axiata Group has sold another 10 percent stake in its Cambodian subsidiary Smart Axiata to Japanese group Mitsui Co Ltd. The Japanese firm now holds 20 percent of the local telecommunications giant. In May last year, it sold 10 percent of Smart to Mitsui Co. That stake was valued at $66 million, and Mitsui […]
Read MoreSINGAPORE –Grab, Southeast Asia’s largest ride-hailing app operator, on Wednesday started a research laboratory for artificial intelligence here, aiming to better understand traffic patterns and offer faster ways to bring passengers to their destinations. The Singapore-based company, which is under increasing scrutiny from competition regulators for its dominant market position, will share the findings with […]
Read MoreViews on the US dollar’s prospects for the rest of the year are mixed, with Kasikornbank (KBank) forecasting that the baht will hit a one-and-a-half-year low of 34 to the greenback this quarter amid large-scale capital inflows. The US Federal Reserve’s more hawkish stance of signalling two more rate hikes this year and the tit-for-tat trade […]
Read MoreMANILA, Philippines — Banks continue to invest their excess liquidity in the financial system as term deposits fetched mixed yields at yesterday’s auction, the Bangko Sentral ng Pilipinas (BSP) reported yesterday. Tenders at the term deposit auction facility (TDF) amounted to P128.83 billion against the issue size of P100 billion as the seven, 14, and […]
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Thailand
