Tag: Business
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Thai central bank raises economic outlook, holds rates as expected
BANGKOK, June 24 : Thailand’s central bank upgraded its economic growth forecasts on Wednesday, signalling a modest improvement in the outlook after it held interest rates steady for a second meeting.The Bank of Thailand (BOT) said it expected economic growth to come in at 2.3 per cent this year, higher than
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Malaysia central bank fines AEON Credit for sanctions breaches
KUALA LUMPUR, June 24 : Malaysia’s central bank said on Wednesday that it has fined AEON Credit Service (M) Berhad 520,000 ringgit ($125,665) for breaches of targeted financial sanctions.AEON Credit, a Malaysian unit of Japan’s Aeon Co, has since taken remedial measures and conducted refresher training for re
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South Korea’s SK Hynix says to raise $29 billion in US ADR listing
SEOUL, June 24 : South Korea’s SK Hynix said on Wednesday it plans to raise 45.45 trillion won ($29.43 billion) via the listing of American Depository receipts (ADR) in the U.S., as it seeks to expand its investor base and production capacity for chips used in artificial intelligence.($1 = 1,544.1400 won)
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CEO at Kadokawa, Japan’s ‘Elden Ring’ powerhouse, survives shareholder vote
TOKYO, June 24 : Japanese media powerhouse Kadokawa said on Wednesday that its CEO had secured enough support from shareholders to stay on as a board member despite an activist investor campaign calling for him to step down.The exact level of support for Chief Executive Takeshi Natsuno at Kadokawa’s annual ge
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Exclusive-Japan plans to better manage war chest for yen intervention, draft shows
TOKYO, June 24 : Japan’s government plans to examine ways to improve management of its $1.3 trillion foreign exchange reserves, a war chest for future yen intervention, according to a draft growth strategy report reviewed by Reuters on Wednesday. The plans reflect the government’s desire to boost returns
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BOJ must scrutinise impact on financial system from AI, non-bank activities, Ueda says
TOKYO, June 24 : Bank of Japan Governor Kazuo Ueda said on Wednesday the central bank must scrutinise how Middle East developments, profitability of AI-related investments and overseas non-bank activities could affect the country’s financial system.”Japan’s financial system remains stable as a whole,” Ueda sa
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Thai central bank keeps key interest rate unchanged, as expected
BANGKOK, June 24 : Thailand’s central bank kept its key interest rate unchanged for a second straight meeting on Wednesday, as it lifted its growth forecasts and said inflation would fall next year as supply-side pressures ease.The Bank of Thailand’s monetary policy committee voted unanimously to maintain the
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Dollar hits 13-month high as rate-hike bets, stock rout boost demand
HONG KONG, June 24 : The U.S. dollar extended gains to reach a fresh 13-month high against a basket of major currencies on Wednesday, as investors sought shelter from a tech stock selloff and prepared for rate hikes from the Federal Reserve. Stock market volatility continued after a broad selloff of technolo
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ByteDance seeks $20 billion in its largest-ever offshore loan, Bloomberg News reports
June 24 : Chinese technology company ByteDance, the developer of TikTok, is in preliminary talks with banks for its largest offshore loan of about $20 billion, Bloomberg News reported on Wednesday, citing people familiar with the matter. The company has approached banks for a loan that may carry a three-year
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Talk of a bubble is ‘blasphemy against AI’ says SoftBank’s Son
TOKYO, June 24 : SoftBank founder and CEO Masayoshi Son told shareholders on Wednesday that artificial intelligence is still in its early stages and any talk of a bubble is “an insult to AI.” “I think it’s blasphemy against AI if you say it’s a bubble,” Son said at the Japanese conglomerate’s annual general m
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