NEW FACES, REFORMIST BACKING Following the recent change in the board of directors, which included some people, who were elected for the first time ever in December, is more extreme. Prior to that, the majority of the members were chosen by the coup-surge supporters in 2014. Next month, two-thirds ofContinue Reading
COLOMBO: Sri Lanka’s central bank kept interest rates unchanged on Friday ( Sep 27 ) in line with expectations, citing domestic and global uncertainties, but said inflation was likely to remain low and the economy was doing much better than initially expected. The Standing Deposit Facility Rate and Standing LendingContinue Reading
According to legal documents, Samsung Electronics ‘ Indian device has filed legal papers with members of a labor union that has been on strike for 11 days at its sole India house appliances plant in Tamil Nadu, escalating tensions with its employees. The lawsuit against Samsung, which was first reportedContinue Reading
COLOMBO: Sri Lanka’s market grew 4.7 per share year-on-year from April to June this year, official data showed on Friday, as the island country made progress in emerging from its worst economic crisis in years. Sri Lanka’s agriculture sector grew 1.7 per cent from a year earlier, industrial output expandedContinue Reading
BANGKOK: As sales of electric vehicles miss expectations in Southeast Asia’s largest business, Thailand’s major group of manufacturers, comprising big Chinese and Japanese firms, seeks to expand production deadlines set in a government scheme of incentives. Thailand’s regional hub for developing electric vehicles ( EVs ) is made up ofContinue Reading
Bangalore: Apple and Airtel are working together to provide free access to thousands of consumers in a price-sensitive business by offering the telecom company’s premium clients its music and video streaming services. The shift comes as regulators closely monitor the US$ 28 billion pleasure market in India, and a$ 8Continue Reading
BANGKOK: Thailand has approved Western Digital’s 23.5 billion baht ( US$ 693 million ) project to expand hard disk production in the country, Thailand’s Board of Investment ( BOI ) said on Monday ( Aug 26 ), as cloud technology and data centre demand grows. The investment may increase theContinue Reading
The Asian Infrastructure Investment Bank issued its first digital bond on Friday ( Aug 23 ), raising US$ 300 million, Euroclear said in a statement. The issue is the first modern release for Euroclear using its distributed ledger technology program and the first release by an Asian-based supplier on itsContinue Reading
Bangkok: Following a court’s dismissal of the prime minister, the central bank of Thailand’s central bank left its key interest rate unchanged for a fifth straight meeting on Wednesday ( Aug 21 ), as was widely anticipated. The Bank of Thailand’s ( BOT ) monetary policy committee voted 6-1 toContinue Reading
BANGKOK: Thailand’s economy is nearly in crisis due to declining exports and uncompetitive manufacturing, the country’s caretaker finance minister said on Wednesday ( Aug 21 ). Pichai Chunhavajira told a business seminar that exports account for 70 % of the economy, but the manufacturing sector ca n’t meet market demand.Continue Reading