The Pheu Thai Party has vowed to take charge of all ministries that handle economic affairs to carry out its campaign policies if it is elected to lead the government after the next election.Continue Reading
Police raided four properties and arrested 11 suspects allegedly involved in online gambling websites that cost around 70 million baht in total damages.Continue Reading
Police have arrested 11 suspects in raids on four sites linked to online gambling websites and seized about 70 million baht worth of assets from them.Continue Reading
NEW YORK – The US banking system is broken. That doesn’t portend more high-profile failures like Credit Suisse. The central banks will keep moribund institutions on life support. But the era of dollar-based reserves and floating exchange rates that began on August 15, 1971, when the US severed the link between the dollar and gold, […]Continue Reading
Guo Wengui is accused of masterminding a billion-dollar fraud. His followers tell the BBC their stories.Continue Reading
This time last year, few would have heard of Silicon Valley Bank. But the recent collapse of the US bank has raised the spectre of the Lehman Brothers meltdown, sparking fears of a banking crisis. CNA’s Steven Chia drills down on some financial basics.Continue Reading
Federal Reserve policymakers have targeted a “soft landing” for the US economy since beginning their effort a year ago to tame runaway inflation by hiking interest rates. That is, they believed they could do so without sending the US into recession. But the Fed’s decision to raise rates by a quarter point on March 22, […]Continue Reading
HONG KONG: Hong Kong needs to watch carefully for any further “spillover” from US regional banks, although the city has very little exposure to the situation in European and US financial institutions, the Hong Kong Monetary Authority said on Friday (Mar 24). The failure of two US banks and aContinue Reading
“FEAR INDEX” DROPS The US and European rally filtered through to Asia, where banks were among the big gainers with tech firms. Hong Kong led the way, riding more than 2 per cent thanks to a bump in lenders HSBC and Standard Chartered as well as e-commerce titans Alibaba andContinue Reading
If Governor Yi Gang’s staff at the People’s Bank of China had been planning a vacation in 2023, it might be time to cancel. The PBOC’s surprise move on March 27 to lower the reserve requirement ratio (RRR) for financial institutions by 25 basis points is the first official acknowledgment that troubles from Silicon Valley […]Continue Reading