Both Capital A and AirAsia X were hard hit by pandemic travel restrictions and classified by Malaysia’s stock exchange as PN17, or financially distressed. Such firms may be de-listed from the exchange if they fail to stabilise their finances within a set time frame. AirAsia X was removed from theContinue Reading
BANGKOK: According to Thai Prime Minister Srettha Thavisin, the central bank’s price increases have had no positive effects on the economy and should be avoided by low-income individuals and small companies. Thailand trails local rivals with growth projections of approximately 2.4 percent last time, short of the 2022 target, accordingContinue Reading
HONOI: Vietnamese manufacturer of electric vehicles ( EV ) VinFast announced Pham Nhat Vuong, its founder and biggest financial backer, as chief executive on Saturday ( Jan 6), as it prepares for an ambitious overseas expansion and increases sales through dealerships. Le Thi Thu Thuy, who had been in chargeContinue Reading
After India’s top judge ruled that the market regulators ‘ ongoing investigations into the Hindenburg claims were enough, shares of listed Adani Group firms increased this week. Following the decision, Adani said on X, originally known as Twitter,” The honorable high court’s judgment shows that: Truth has prevailed.” ” IContinue Reading
HONG KONG: Hong Kong announced on Thursday, January 4, that it would not buy any residential or commercial property during the first three months of 2024 due to high vacancy rates and sluggish industry sentiment. Analysts noted that this would be the first time the government of Hong Kong hasContinue Reading
BEIJING: A company spokesperson said on Wednesday ( Jan 3 ) that Baidu of China intends to donate a quantum computing laboratory and equipment to the government-backed Beijing Academy of Quantum Information Sciences ( BAQIS ). The director added that both parties are now working out the specifics. Following Alibaba’sContinue Reading
BEIJING: According to a warning from the International Monetary Fund, China may be “immoral and unsustainable” if national safety restrictions severely limit global expansion due to” the politicization of economic and trade issues.” Gita Gopinath, the deputy managing director of the IMF, stated in December that the global gross domesticContinue Reading
SHANGHAI: According to two dealers with knowledge of the situation, BYD, which surpassed Tesla in global energy car sales for the first time in the third quarter, will give its Chinese dealers rewards totaling billions of renminbi. If the sellers meet their revenue goals in 2023, the Chinese manufacturer willContinue Reading
Alegra Group estimates China’s Luckin Coffee added 5,059 stores in the last 12 months, while another Chinese chain, Cotti Coffee, opened 6,004 outlets in the period. “The scale of the opportunity is such that both (local and international chains) will have to be very aggressive in facing off against theContinue Reading
BANGKOK: Major Japanese auto manufacturers will invest 150 billion baht (US$4.34 billion) in Thailand over the next five years, a Thai government spokesperson said on Monday (Dec 25), supporting the Southeast Asian country’s transition to making electric vehicles. Toyota Motor and Honda Motor will invest about 50 billion baht each, whileContinue Reading