Malaysia-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 […]
Read MoreThe Hanoitimes – China’s rising labor costs, the looming US trade war and Vietnam’s high growth are accelerating an already strong trend of foreign firms driving away from China to the Southeast Asian country. Man Wah Holdings, a furniture maker in Hong Kong, last month bought a Vietnam sofa manufacturing and export company for US$68 million, […]
Read MoreThe Revenue Department anticipates that 80-100 large foreign-based digital platform operators that render services to Thai consumers will sign up as value-added tax (VAT) registrants in Thailand after the e-business tax comes into force. These foreign e-business operators, dominating 80-90% of Thailand’s e-business service value, will be willing to register for VAT payment to avoid tarnishing […]
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