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Thailand to inject $15.2 billion into economy through digital wallet plan - PM

BANGKOK (Reuters) - Thailand's Prime Minister Srettha Thavisin said on Monday his government would inject 560 billion baht ($15.23 billion) into the economy next year through its signature digital wallet policy. The stimulus will be driven by the key plank of Srettha's Pheu Thai Party's electoral platform, where each citizen over 16 will receive a 10,000 baht ($282) handout in the form of digital

2023-10-02T03:21:45Z

Thai PM touts stimulus plans, meets central bank chief after surprise rate hike

By Satawasin Staporncharnchai and Chayut Setboonsarng BANGKOK (Reuters) -Thailand's Prime Minister Srettha Thavisin met the governor of its central bank on Monday, less than a week after an unexpected hike in interest rates seemed to clash with government efforts to stimulate the economy. Earlier in the day Srettha had reiterated plans to inject 560 billion baht ($15 billion) into the economy

2023-10-02T08:42:10Z

Interest is allowed to calculate taxable income, albeit with conditions

Interest capping rules have been introduced in the UAE’s corporate tax law

2023-10-01T12:03:25Z

Turkish manufacturing activity contracts in September - PMI

ISTANBUL (Reuters) - Turkish factory activity contracted for the third consecutive month in September, although only very slightly due to a less pronounced slowdown in output and new orders, a survey showed on Monday. The Purchasing Managers' Index (PMI) for manufacturing rose to 49.6 from 49.0 in August, according to the survey by the Istanbul Chamber of Industry and S&P Global, holding just

2023-10-02T07:27:02Z

Dutch regulator rejects Apple’s objections against fines

AMSTERDAM (Reuters) -Dutch competition watchdog ACM on Monday said it had rejected objections by Apple against fines of 50 million euros ($52.9 million) it had given the company over failure to comply with regulations aimed at limiting the dominant position of Apple's App Store. The ACM said Apple had by now complied with most of its demands to open its App Store to alternative forms of payment

2023-10-02T08:27:06Z

Is pilot shortage holding back Akasa Air and India's aviation sector from taking off?

Akasa Air, the latest addition to India’s list of airlines, had been flying high following its launch last year. Recently, however, it has hit some turbulence, as dozens of pilots walked out, leading to hundreds of cancelled flights and angry customers. Experts say the challenge Akasa is facing only highlights what is set to become a much bigger pr...

2023-10-02T04:44:09Z

Sam Bankman-Fried wanted to pay Donald Trump not to run for office. The price? $5 billion, says his biographer.

Sam Bankman-Fried, the disgraced FTX founder, heard that it would cost $5 billion to get Donald Trump not to run for office, Michael Lewis reported in his book, "Going Infinite."

2023-10-02T02:20:40Z

Philippines eyes maiden sukuk issue in November

MANILA (Reuters) - The Philippines plans to issue its maiden sukuk bonds by the end of November, its finance secretary said, as it seeks to develop alternative funding sources for its budget. Finance Secretary Benjamin Diokno, who last month said he hoped to raise $1 billion from the maiden offer, said the government will target institutional funds in the Middle East which would be allowed to buy

2023-10-01T16:05:56Z

Peruvian annual inflation eases to lowest level in more than two years

(Reuters) - Annual inflation in Peru decelerated to 5.04% in September to hit its lowest level in more than two years, according to official figures published on Sunday, though consumer prices remained some way above the central bank's target rate. Data from national statistics agency INEI showed the key index based on the metropolitan region of Lima slowed to its lowest level since August 2021,

2023-10-01T15:20:50Z

Nagorno-Karabakh: How the conflict is affecting global energy dynamics

Frozen conflicts sometimes rekindle but rarely melt away entirely. Azerbaijan may have just achieved that, retaking the territory of Nagorno-Karabakh from Armenia. Defeat for Russia’s position in the Caucasus and a success for Turkey reconfigures power in this critical region of energy transit. Nagorno-Karabakh, the “mountainous black garden”, was ...

2023-10-02T03:14:35Z

Beyonce's concert film to be distributed globally by AMC

(Reuters) - A film based on U.S. pop star Beyonce's hit "Renaissance World Tour" is set to be distributed globally by a unit of AMC Entertainment, the company said, as cinema chains look to fill content gaps stemming from Hollywood strikes. Beyonce's film is a theatrical production of the singer-songwriter's global tour this summer, spanning 57 concerts across 40 cities in North America and 14

2023-10-02T07:35:54Z

French manufacturing activity shrinks faster in September - PMI

PARIS (Reuters) - France's ailing manufacturing sector contracted for the eighth month in a row in September, with production and new orders falling at their sharpest rates in over three years, a survey showed on Monday. HCOB's final Purchasing Managers Index (PMI) for the French manufacturing sector - compiled by S&P Global - came in at 44.2 points, down from 46.0 in August but slightly better

2023-10-02T08:02:07Z

Generation Start-up: How Shaffra is helping companies enter the metaverse affordably

Put on your virtual reality headsets and enter a new dimension. That is the message that Shaffra, a metaverse-as-a-service platform, has been trying to get across the UAE and the wider Gulf region. The start-up is focusing on how corporates and large entities such as government agencies can benefit from using the metaverse technology today. It has ...

2023-10-02T03:44:34Z

Turning the tide: Sri Lanka's remarkable investment renaissance in Abu Dhabi, Dubai

UAE Investment Forum was a watershed moment, thrusting Sri Lanka and Port City Colombo into the limelight of the investor community

2023-10-01T10:48:21Z

Ackman Considers Musk’s X for New Investment Vehicle, WSJ Says

Billionaire Bill Ackman would be interested in pursuing a deal with Elon Musk-owned X Corp. as part of a new investment vehicle, the Wall Street Journal reported.

2023-10-02T03:50:18Z

Saudi Arabia to tap international debt markets

Kingdom expects budget deficit of 2% of GDP this year

2023-10-01T13:03:30Z

Bain Capital invests $200 million in Vietnam conglomerate Masan

HANOI (Reuters) -U.S. private equity firm Bain Capital has made its first investment in Vietnam, with at least $200 million in the Masan Group conglomerate, and could bring in other investors to raise that to $500 million, the firms said on Monday. The deal is set to boost competition in Vietnam's retail market, as rapid urbanisation draws domestic and foreign investors looking to expand or gain

2023-10-02T05:07:02Z

SingTel to sell stake in Trustwave for $205 million

(Reuters) - Singapore Telecommunications on Monday said it entered into an agreement with MC2 Titanium, LLC to sell its stake in cyber security business Trustwave for $205 million. Southeast Asia's largest telecom firm began a strategic review of its 98% interest in Trustwave in 2021 after buying it for $770 million in 2015. The divestment comes after SingTel incurred an impairment charge of S

2023-10-01T22:56:35Z

Credit Suisse, Mozambique secure out-of-court 'tuna bond' settlement

By Noele Illien and Kirstin Ridley ZURICH (Reuters) -Credit Suisse has reached an 11th-hour out-of-court settlement with Mozambique over the decade-old $1.5 billion-plus "tuna bond" scandal, the Swiss bank's new owner UBS said on Sunday, drawing a line under a damaging dispute it inherited. "The parties have mutually released each other from any liabilities and claims relating to the

2023-10-01T13:25:52Z

Adipec gathers global energy leaders in Abu Dhabi tomorrow

Event is expected to attract more than 160,000 attendees

2023-10-01T13:48:33Z

Applebee's is bringing back the $1 margarita that miraculously lifted the company out of a sales slump

Applebee's is reintroducing its iconic $1 margarita to its menu after three-year hiatus.

2023-10-01T12:04:35Z

Climate leaders gather ahead of 'challenging' COP 28

By Pietro Lombardi MADRID (Reuters) - Spain's Energy Minister Teresa Ribera has warned that talks at the COP28 climate summit will be "challenging" as she opened a gathering of energy ministers and climate leaders from around the world in Madrid. Spain, which holds the rotating presidency of the EU Council, is pushing for an international coalition to back the 2015 Paris deal's target to limit

2023-10-02T09:10:43Z

Germany welcomes China's support for G20 debt restructuring framework

BERLIN (Reuters) -Germany has welcomed a show of support from China for the G20 debt restructuring framework for poorer countries in a joint statement after their financial dialogue in Frankfurt over the weekend. "We welcome the fact that the Chinese side is also committed to this in our Joint Statement, because solutions are inconceivable without China as such an important player in world

2023-10-02T00:56:45Z

Amazon sent an email that sounded like a gift card scam to warn about gift card scams, confusing customers

Amazon customers were confused when the company sent them an email telling them they had bought a gift card and warning about scams. But the customers never purchased a gift card.

2023-10-01T18:00:03Z

International Longshore and Warehouse US dockworkers union files for bankruptcy

(Reuters) -The International Longshore and Warehouse Union (ILWU) representing U.S. dockworkers has filed for a chapter 11 bankruptcy protection to resolve a pending litigation with the Oregon affiliate of the International Container Terminal Services Inc (ICTSI). The union has listed its assets and liabilities in the range of $1 million to $10 million, according to the Sept. 30 filing made in a

2023-10-02T08:35:40Z

S&P raises Oman's credit rating on higher crude prices and non-oil sector growth

S&P Global Ratings has raised Oman's long-term foreign and local currency sovereign credit ratings to "BB+" from "BB" with a stable outlook on "favourable" oil sector dynamics, along with higher output in the non-hydrocarbon sector. The "BB+" rating is one notch below investment grade. "High hydrocarbon prices should continue to support fiscal surp...

2023-10-01T10:12:38Z

Adipec 2023: Oil and gas industry key to solving energy challenges, Dr Al Jaber says

The oil and gas industry is essential to solving current global energy challenges, including playing a “critical” role in scaling up renewable energy, Cop28 President-designate Dr Sultan Al Jaber has said. Speaking at Adipec on Monday, Dr Al Jaber, who is also the managing director and group chief executive of Adnoc, said that “everyone must be at ...

2023-10-02T06:44:13Z

Japan startup develops 'Gundam'-like robot with $3 million price tag

By Satoshi Sugiyama and Chris Gallagher YOKOHAMA, Japan (Reuters) - Tokyo-based start-up Tsubame Industries has developed a 4.5-metre-tall (14.8-feet), four-wheeled robot that looks like "Mobile Suit Gundam" from the wildly popular Japanese animation series, and it can be yours for $3 million. Called ARCHAX after the avian dinosaur archaeopteryx, the robot has cockpit monitors that receive

2023-10-02T05:46:55Z

UK water firms eye hefty investments, rising bills

(Reuters) -Several UK water firms on Monday proposed investing billion of pounds to tackle water quality, leakage and pollution issues, in a move that an industry body said would see bills rise by an average of 156 pounds a year per household by 2030. The investments are part of regulator Ofwat's price review programme, wherein water utilities set out their plans for the next five-year regulatory

2023-10-02T09:20:46Z

Dutch regulator rejects Apple’s objections against fines

AMSTERDAM (Reuters) - Dutch competition watchdog ACM on Monday said it had rejected objections by Apple against fines of 50 million euros ($52.9 million) it had given the company over failure to comply with regulations aimed at limiting the dominant position of Apple's App Store. The ACM said Apple had by now complied with most of its demands to open its App Store to alternative forms of payment

2023-10-02T07:57:06Z

Abu Dhabi's non-oil economy grows 12.3% in second quarter to hit highest level since 2014

Abu Dhabi's non-oil gross domestic product grew by an annual 12.3 per cent to Dh154 billion ($41.96 billion) in the second quarter of this year, the highest since 2014, as the emirate continues to diversify. The emirate's total GDP for the three months to the end of June also grew by 3.5 per cent on an annual basis, underpinning the “competitivenes...

2023-10-02T05:59:07Z

China's factory activity recovery slows in September - Caixin PMI

BEIJING (Reuters) -China's factory activity expanded at a slower pace in September, a private-sector survey showed on Sunday, with sluggish external demand weighing on the outlook even as output increased. The Caixin/S&P Global manufacturing purchasing managers' index (PMI) fell to 50.6 in September from 51.0 in the previous month, missing analysts' forecasts of 51.2. The 50 index point mark

2023-10-01T23:11:26Z

Oil to sustain rally ahead of Opec+ meet on October 4

Producer group and allies unlikely to change current output policy

2023-10-01T12:03:25Z

Thailand to inject $15.2 billion into economy through digital wallet plan - PM

BANGKOK (Reuters) - Thailand's Prime Minister Srettha Thavisin said on Monday his government would inject 560 billion baht ($15.23 billion) into the economy next year through its signature digital wallet policy. The stimulus will be driven by the key plank of Srettha's Pheu Thai Party's electoral platform, where each citizen over 16 will receive a 10,000 baht ($282) handout in the form of digital

2023-10-02T03:51:46Z

International Longshore and Warehouse US dockworkers union files for bankruptcy

(Reuters) -The International Longshore and Warehouse Union (ILWU) representing U.S. dockworkers has filed for a chapter 11 bankruptcy protection to resolve a pending litigation with the Oregon affiliate of the International Container Terminal Services Inc (ICTSI). The union has listed its assets and liabilities in the range of $1 million to $10 million, according to the Sept. 30 filing made in a

2023-10-02T07:15:35Z

Japan startup develops 'Gundam'-like robot with $3 million price tag

By Satoshi Sugiyama and Chris Gallagher YOKOHAMA, Japan (Reuters) - Tokyo-based start-up Tsubame Industries has developed a 4.5-metre-tall (14.8-feet), four-wheeled robot that looks like "Mobile Suit Gundam" from the wildly popular Japanese animation series, and it can yours for $3 million. Called ARCHAX after the avian dinosaur archaeopteryx, the robot has cockpit monitors that receive images

2023-10-02T01:06:42Z

UAW strike chaos isn't all good news for Tesla

A big contract win for the United Auto Workers could give the union the credibility it needs to organize at Tesla and other automakers, experts said.

2023-10-01T10:59:31Z

BOJ board discussed factors that could affect exit timing - Sept summary

By Leika Kihara TOKYO (Reuters) - Bank of Japan policymakers discussed various factors that must be taken into account when exiting ultra-loose policy, a summary of opinions at their September meeting showed on Monday. One board member said the second half of the current fiscal year, ending in March 2024, will be an "important period" in determining whether the BOJ's price target will be

2023-10-02T00:26:42Z

Texas firm settles US charges it fraudulently took Madoff victims' money

By Jonathan Stempel NEW YORK (Reuters) -A Texas investment firm agreed on Friday to pay $2.51 million to settle a U.S. government lawsuit accusing it of fraudulently obtaining payments from a fund meant to compensate victims of Bernard Madoff's massive Ponzi scheme. The U.S. Department of Justice said Fulcrum Capital Partners violated the federal False Claims Act between October 2016 and October

2023-10-02T09:10:40Z

Polish factory downturn strong in Sept, but declines soften -PMI

WARSAW (Reuters) - Poland's manufacturing sector remained in a severe downturn in September although there were signs of softer declines in several key measures, a survey showed on Monday. S&P Global's Polish manufacturing Purchasing Managers' Index (PMI) rose to 43.9 in September from 43.1 in August, remaining below the 50.0 line that separates growth from contraction for the 17th consecutive

2023-10-02T07:12:03Z