Thailand plans to replace 2,320 combustion-engine buses with electric vehicles to reduce annual losses of seven to eight billion baht. The switch to electric buses, projected to cut maintenance and fuel costs significantly, is set for completion by 2027. The initiative also includes workforce restructuring and debt management aimed at achieving financial stability by 2030.
Tag: finance
Thailand’s Automotive Tax Restructuring: A Catalyst for ASEAN Integration and Long‑Term National Competitiveness
Thailand’s automotive industry is at a pivotal moment with plans to restructure the excise tax, aiming to boost investment, domestic production, and supply chain collaboration. Encouraging the use of local parts, the initiative seeks to position Thailand as a global automotive hub, enhance ASEAN integration, and foster sustainable growth, particularly for SMEs.
Russian Banks Accelerate Digital Ruble Integration Across Mobile Platforms
Russian banks have started integrating digital ruble wallets into mobile apps, allowing users to open wallets for digital transactions. With a monthly limit of 300,000 rubles, this initiative aims to modernize the financial system, making digital rubles a mainstream payment option while reducing cash reliance and enhancing state control over monetary flows.
The Netherlands Repositions Reserves Amid Global Uncertainty
The Dutch central bank recently transferred 86 metric tons of gold to the Bank of England, highlighting concerns over geopolitical tensions and the need for accessible reserves. This shift, reflecting a broader European trend, underscores a diminishing reliance on U.S. vaults and emphasizes gold’s role in ensuring liquidity and financial sovereignty amid uncertainty.
Vietnam’s Startup and SME Hub Raises the Bar with Billion-Dollar Lending Vision
Ho Chi Minh City has launched a loan program for small and medium-sized enterprises and startups, offering up to VND 200 billion per project. The initiative includes interest rate support and credit guarantees, targeting sectors like technology, education, and healthcare. This framework aims to enhance access to capital and foster entrepreneurial growth in the city.
Malaysia’s Digital Leap with Tokenised Islamic Bonds
Malaysia has taken a bold step into the future of finance with the successful settlement of tokenised sukuk (Islamic bonds) using CIMB’s tokenised deposits. This demonstrates the viability of distributed ledger technology in Islamic finance and also how traditional financial instruments can be reshaped for a digital era. The initiative was carried out under the…
Malaysia’s GEAR-uP Initiative to Position Bumiputera Firms for International Market Leadership
The GEAR-uP program in Malaysia aims to enhance Bumiputera participation in capital markets, addressing the imbalance where only eight out of over 230 public companies are Bumiputera-owned. Spearheaded by the Ministry of Finance and key investment firms, GEAR-uP focuses on capacity building, strategic support, and fostering competitive enterprises in the public market.
Global Ripple Effects of China’s Capital Controls on London Financials and Beyond
London’s financial sector experienced a sharp repricing as investors reacted to Beijing’s new measures to restrict capital outflows, erasing more than £7 billion from the market value of major London‑listed banks and insurers; HSBC and Standard Chartered recorded meaningful declines while Prudential, which derives a substantial portion of its revenue from China, suffered the largest…
Financial Markets: 4 December 2024
One of the most significant moves has been BlackRock’s acquisition of HPS for $12 billion, a strategic maneuver aimed at reinforcing its position within the private credit market. This acquisition is BlackRock’s third substantial deal this year and reflects a trend toward deeper investments in alternative assets. With HPS under its umbrella, BlackRock has ascended…
