Business News

Business News

News about trade, finance, investment trends and issues.

Malaysia wants $7.5 billion back from Goldman Sachs in 1MDB case

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Malaysia is seeking $7.5 billion in reparations from US investment firm Goldman Sachs over its dealings with scandal-ridden linked state fund 1Malaysia Development Berhad,...
Thailand raises interest rates after long hiatus

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Thailand’s central bank raised its benchmark interest rate for the first time since 2011, joining peers in the region in tightening monetary policy this...
Singapore bans Goldman Sachs banker for life

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Singapore through its Monetary Authority of Singapore (MAS) has ordered a lifetime ban against former Goldman Sachs banker Tim Leissner due to his involvement...
Bangkok among most expensive cities

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Bangkok has joined the list of the 100 most expensive cities for expatriate workers for the first time on the strong baht, economic growth...
Malaysia files charges against Goldman Sachs

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Malaysian prosecutors have filed criminal charges against Goldman Sachs and two of its bankers for their role in the alleged embezzling of billions of...
China to build $4.4-billion steel complex in the Philippines

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The Philippine government on December 14 signed a memorandum of understanding with Chinese companies for the joint implementation of the “Philippine Iron and Steel...
Ride-hailing service Go-Jek launched in Thailand under ‘Get’

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Indonesia's ride-hailing provider launched its service under the name of Get on December 14 for the Thai market – at first with a beta...
Laos misses out on its five-million tourists target this year

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Laos will close its “Visit Laos Year 2018” promotion well short of the five million tourist arrivals target, the Vientiane Times quoted officials. According to...
Vietnam keen to host next Trump-Kim summit

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Vietnam has expressed interest in hosting the second US-North Korea summit, while high-level officials of the two countries were confirmed to have visited Vietnam...
Philippine digital economy expected to grow to $10 billion by 2025

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The Philippine e-commerce industry is poised for exponential growth, with its share of the Southeast Asian market expected to be worth $10 billion by...
Indonesia’s Tokopedia raises $1.1 billion from Alibaba, Softbank

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Indonesia’s leading e-commerce portal Tokopedia said on December 12 it has raised $1.1 billion in funding from investors including Japanese tech holding SoftBank’s Vision...
Thailand lifts political campaign ban and sets election date for February 24

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Thailand's military government has said political parties are free to start campaigning ahead of a long-awaited election scheduled for 24 February, 2019. The announcement...
Three Southeast Asian cities among most visited in 2018

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Bangkok, Singapore and Kuala Lumpur made it once again into the top-ten list of most visited cities 2018 issued by business intelligence firm Euromonitor...
Cambodia seeks to double tourism arrivals by 2025

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Cambodian has ambitious plans to increase the number of tourism arrivals from six million in 2018 to 12 million by 2025 as it builds...
Reports says Thailand has worst wealth distribution globally

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Thailand has overtaken Russia and India as the most unequal country in the latest survey by Credit Suisse. Two years ago, Thailand ranked third...
AirAsia enters budget carrier market in Vietnam

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AirAsia Group, the largest low-cost carrier in Southeast Asia, said December 6 that it has agreed with a partner in Vietnam to launch a...
Vietnam’s Vingroup to launch its own smartphone brand

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Vingroup, Vietnam’ biggest listed firm by market value and a conglomerate with businesses that range from real estate to retail to tourism to automotive,...
Foxconn plans iPhone plant in Vietnam in response to US-China trade war

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Taiwanese electronics assembler Foxconn Technology Group is planning to open an iPhone manufacturing facility for Apple in Vietnam to mitigate the effects of the...