NEW YORK – US bank regulators Sunday announced a massive response to last week’s run on Silicon Valley Bank (SVB) and the risk of copycat runs against other regional banks. The Federal Reserve will provide one-year loans against banks’ security portfolios through a new Bank Term Funding Program, eliminating the risk that banks might be […]Continue Reading
The Pheu Thai Party has promised a three-year debt moratorium to farmers while reiterating it will not join hands with the ruling Palang Pracharath Party in forming the next government should it meet its House seat target.Continue Reading
The Election Commission (EC) has warned against populist policies touted by political parties, saying they must clarify the sources of money to finance the policies or face a fine of up to 500,000 baht.Continue Reading
As China watchers try to get their heads around the myriad policy shifts at this week’s National People’s Congress (NPC), at least one thing is clear: the bubble just burst for local governments around the nation. In the decade-plus since the 2008-2009 global financial crisis, municipalities engaged in a historic borrowing binge. And in the […]Continue Reading
The Labour Ministry will work with the Thai embassy in Seoul to follow up on the case of an illegal Thai worker who was found dead on a mountain in South Korea’s Gyeonggi province.Continue Reading
KUALA LUMPUR: Malaysia’s speaker of parliament declared the 2023 Budget passed at the policy stage on Thursday (Mar 9). The budget was passed with a majority voice vote. The 2023 budget is the first budget tabled by the government led by Prime Minister Anwar Ibrahim, who is also the country’sContinue Reading
SEOUL: South Korea’s central bank said the lagged effects of its aggressive streak of monetary tightening would have a bigger negative impact on economic growth this year than in 2022. The Bank of Korea (BOK) estimated that its 300 basis points of rate increases in the current tightening cycle wouldContinue Reading
Ten years ago, when China’s leader first took power, Xi Jinping pledged to let market forces play a “decisive” role in economic policy and financial regulation. At the time, and since, foreign investors assumed that meant the government would set the private sector free. Yet a decade on, Xi is now making an argument few […]Continue Reading
Japan is mulling the use of drones for aerial interception missions as the cost of scrambling manned fighter aircraft becomes increasingly unsustainable amid intensified Chinese air incursions. This month, Nikkei reported that the Japan Self-Defense Forces (JSDF) are considering using drones instead of manned aircraft to intercept foreign aircraft that intrude into Japan’s airspace. The […]Continue Reading
Thousands of people assembled at the Lincoln Memorial in Washington, DC, on February 19 to protest against the US proxy war using Ukrainians as cannon fodder to bring down Russia. It took as its name “Rage against the War Machine,” and it sought to bring together people of all political persuasions in opposing the war. “Everyone in; […]Continue Reading