Business

China Plans to Ban U.S. IPOs for Data-Heavy Tech Firms

China Plans to Ban U.S. IPOs for Data-Heavy Tech Firms

China's stock regulator plans to propose new rules that could thwart internet companies' plans to list in the U.S. A trader works June 30 during the IPO for Chinese ride-hailing firm Didi Global Inc on the floor of the New York Stock Exchange in New York City. Beijing plans to propose new rules that would ban Chinese firms with large amounts of sensitive consumer data from going public in the U.S. China plans to propose new rules that would ban companies with large amounts of sensitive consumer data from going public in the U.S., people familiar with the matter said, a move that is likely to thwart the ambitions of the country's tech firms to list abroad. In recent weeks, officials from China's stock regulator have told some companies and international investors that the new rules would...
Huawei to ramp up tech investment in support of Thailand 4.0

Huawei to ramp up tech investment in support of Thailand 4.0

Huawei to ramp up tech investment in support of Thailand 4.0 Abel Deng, chief executive of Huawei Technologies Thailand Global tech powerhouse Huawei Technologies has vowed to deepen its investment in 5G, cloud and data centres, digital power and talent development to support Thailand 4.0 initiative. Thailand continues to take a leading role in 5G deployment in Asean, the company said. "The pandemic accelerated the adoption of technology as businesses need digital transformation and continuity of operations. The pandemic doesn't stop 5G rollout and usage," Abel Deng, chief executive of Huawei Technologies Thailand, said during a virtual meeting with the press. He said every crisis delivers both dangers and opportunities. "For a technology provider, this creates opportunity," Mr Deng ...
Bank of Thailand head says virus fight may need 1 trillion baht more

Bank of Thailand head says virus fight may need 1 trillion baht more

Bank of Thailand head says virus fight may need 1 trillion baht more Weeds are seen growing around taxis parked at a company parking lot, after drivers were unable to pay rent on them due to the economic hardship of Covid-19 and more than a year of no incoming foreign tourism, in Bangkok, on July 20, 2021. (AFP file photo) The governor of the Bank of Thailand (BoT) has called for an additional 1 trillion baht in government spending to counter coronavirus, saying the blow to the economy from the pandemic is greater than from the Asian financial crisis in 1997. The government can fund additional spending by borrowing more, BoT Governor Sethaput Suthiwartnarueput said Monday at a briefing in Bangkok. Even if public debt tops 70% of gross domestic product by 2024, that would be manageable g...
Virtual expo offers marketing bargains

Virtual expo offers marketing bargains

The homepage of Virtual Property Expo 2021. Event organiser Rightman Co and digital marketing group YDM (Thailand) aim to achieve 5 billion baht in sales at a four-day virtual property expo which costs a fraction of a traditional brick-and-mortar fair. Kampol Nisitsukcharoen, vice-president of event organiser Rightman Co, said that expos are one of the most powerful marketing tools as they can generate high sales volumes from one place where a large number of exhibitors and buyers congregate. "Exhibitions might be halted by the pandemic shutdowns, so every business needs to move on amid the unpredictable, struggling times," he said. "As volume makes an impact, we will hold a virtual expo for Thai properties to boost sales online." Virtual Property Expo 2021, through www.propertyexpo.ne...
PTT is going on a green spending spree

PTT is going on a green spending spree

PTT is going on a green spending spree PTT Plc diversifies its invesments to include electric-vehicle and renewable-energy companies. (Bangkok Post photo) PTT Plc, whose sales account for about 10% of the nation’s economic output, is suddenly spending billions of dollars on electric-vehicle and renewable-energy companies and tilting its traditional businesses towards chemicals and plastics. PTT announced investments of almost $10 billion since May to build an EV business and snap up petrochemical assets in Europe and renewable-energy projects in Asia. And the group isn’t done yet. “The company must transform its strategy and vision for sustainable growth with an increased environmental awareness,” said Arawadee Photisaro, PTT’s senior executive vice president for corporate strategy. “C
Taking a dim view

Taking a dim view

EA has become a giant renewable energy developer by taking a cautious approach to business An electric bus developed by EA is scheduled to debut by the end of 2021. Sun Tech Palm Oil Co may not be as widely known as Energy Absolute Plc (EA), but they share the same origin. A palm oil-based biodiesel and glycerin manufacturer and liquefied petroleum gas trader, Sun Tech Palm Oil was the former name of EA. The renaming marked a significant step for the company in becoming a giant renewable energy developer in Thailand. While the old name vanished, the business mindset of the executives remained. They continue to look for dim prospects in sunrise businesses, driving EA to diversify into a range of businesses from renewable power generation and energy storage system (ESS) development to a...
Cabinet approves VAT extension

Cabinet approves VAT extension

The 7% VAT rate, which has been extended several times, was set to expire on Sept 30 this year. (Photo: Kitja Apichonrojarek) The cabinet on Tuesday approved the extension of the 7% value-added tax (VAT) rate for another two years to help reduce the financial burden of consumers, enhance business confidence and boost economic recovery. Rachada Dhanadirek, a deputy government spokeswoman, said the 7% VAT will be retained until Sept 30, 2023. The 7% tax rate, which has been extended several times, was set to expire on Sept 30 this year. The VAT was introduced in 1992 at a rate of 10%, but was slashed to 7% in late 1997 at the private sector's request. The rate has been kept at 7% ever since. According to Ms Rachada, the 7% VAT extension is unlikely to greatly affect the state revenue c...
China in new debate, uses ‘cyber theft’ to bolster its military

China in new debate, uses ‘cyber theft’ to bolster its military

Beijing, China: Peter Suciu, writing in The National Interest, said that there is no denying that Beijing has taken it to heart especially where military hardware is involved. In the spring of 2019, the Pentagon accused China of using “cyber theft” and other methods to bolster its military. In 2007 Lockheed Martin had found that Chinese hackers had been stealing technical documents related to the F-35 program, while a similar theft occurred when hackers working for Beijing breached a network of an Australian F-35 sub-contractor, the Asia Times reported. Based on those breaches, it seems likely that the Chinese had acquired crucial information and technical data that has been utilised in the production of the J-20. Also, the J-20’s development began in earnest only after the F-22 was
Ripe time to give ICT education for girls a boost

Ripe time to give ICT education for girls a boost

Ripe time to give ICT education for girls a boost Arisa, 17, a student of Unesco's Learning Coin initiative, works with a tablet provided through the initiative. (Photo: UNESCO) Supakarn Jantawang has a plan. Inspired by design thinking, she wants to work with her school's student council committee in Chumphon, a province in the south of Thailand, to manage food waste in collaboration with nearby vendors. For her, education about information and communications technologies (ICTs) is more than facts and figures -- design thinking has given her a critical-thinking approach to solve problems systematically step by step, which she thinks will help in her future career as a doctor. For an increasing number of people, in Thailand and worldwide, the knowledge and skills associated with ICTs ar...
China’s anti-sanctions law a new headache for banks in Hong Kong

China’s anti-sanctions law a new headache for banks in Hong Kong

China's anti-sanctions law a new headache for banks in Hong Kong Finance hub Hong Kong has long marketed itself as a reliable business gateway to China. HONG KONG: China's plan to expand its anti-sanctions law into Hong Kong is a fresh compliance headache for international banks already caught up in deteriorating relations between Beijing and major western powers, analysts and insiders say. As a finance hub with an internationally respected legal system, Hong Kong has long marketed itself as a reliable business gateway to authoritarian China. But swirling geopolitical tensions -- and China's crackdown on dissent in the city -- have made that business environment less smooth the last two years. And things could be about to get even more complicated. In June, China passed a broad anti-...
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