Laos Financial News

In a coordinated cross-border operation, Thai authorities have arrested four Chinese nationals and one Lao citizen suspected of orchestrating a massive 2.7 billion baht ($76 million) crypto scam, Bangkok Post reported.

Authorities in Thailand arrested five foreign nationals linked with a fraudulent cryptocurrency investment platform that fleeced over $27 million from local investors.

Indonesia’s president has issued a stark warning after wrapping up a summit of Southeast Asian countries that was joined by China, the United States and Russia

Narendra Modi will also embark on his visit to Indonesia on Wednesday to attend the summits tomorrow. The forthcoming ASEAN-India Summit will be the first Summit since the elevation of ties between India and the Association of South East Asian Nations bloc of countries to a Comprehensive Strategic Partnership in 2022.

Canada’s status within the Indo-Pacific region is set to get a boost as the Association of Southeast Asian Nations prepares to make Ottawa its latest strategic partner when Prime Minister Justin Trudeau visits Indonesia.

Narendra Modi will visit Indonesia's capital Jakarta on September 6 and 7 to attend the ASEAN-India and East Asia summits, said the Ministry of External Affairs in an official statement on Saturday. Shoring up India's trade and security ties with the 10-nation Association of Southeast Asian Nations (ASEAN) is likely to be the focus of Modi's engagement with leaders of the bloc, according to PTI reports.

Electricite du Laos (EDL), the state-run power distribution company, has announced a major cut to crypto mining firms in the country, swerving from its pro-crypto stance since 2021.

Laos state-owned electricity distribution company Électricité du Laos (EDL) has announced that it will suspend electricity supply to crypto mining operations in the country, citing various reasons such as the struggle to generate enough power amid drought conditions.

India and the 10-nation bloc Asean on Monday said they have directed their officials to intensify their efforts to conclude the review of the existing free trade agreement in goods between the two regions by 2025. The issue was discussed during the twentieth AEM (Asean Economic Ministers)-India Consultation meeting, held at Semarang, Indonesia. According to a joint media statement, the meeting welcomed the progress of the review of the Asean-India Trade in Goods Agreement (AITIGA).

free trade agreement on goods between India and the 10-nation Asean bloc may be taken up during a meeting in Indonesia on Monday, an official said. The issue will come up for discussion and decision during the India-Asean economic ministers meeting on Monday. The meeting is being held on the sidelines of the ongoing meeting of the Economic ministers of ASEAN.

Japanese blockchain startup Soramitsu is exploring new central bank digital currency (CBDC) applications with a new project on the cross-border payment system for Asian countries.

By Khanh Vu

digital payment systems and trade settlements, as well as strengthening cooperation in cyber security and prevention of transnational crimes." Thailand's Deputy Prime Minister and Minister of Foreign Affairs, Don Pramudwinai, chaired the Retreat, which saw the participation of Foreign Ministers from Bangladesh, Bhutan, India, Myanmar, Nepal, and Sri Lanka. During the Retreat, the Ministers reached a consensus to conduct such gatherings on a regular basis, preferably in the first quarter of each year.

India has significantly improved its passport ranking by rising 5 spots from last years and is now ranked 80th in the latest Henley Passport Index. Owning to this, Indians can travel to 57 destinations completely visa free or visas on arrival arrangements.  However, it is to be noted here that India has scored poorly in mobility.

Jaishankar on Sunday said that peace and prosperity in the Mekong region play a pivotal role in realising India's vision for security and growth for all countries in the region under its Act East policy. In his opening remarks at the 12th Mekong Ganga Cooperation (MGC) Mechanism meeting here, Jaishankar said the lower Mekong region holds immense significance for India both in a historic sense and a contemporary one. «We represent the ancient river civilizations of this continent,» he said. The Mekong-Ganga Cooperation (MGC) is an initiative by six countries — India and five ASEAN countries — Cambodia, Lao PDR, Myanmar, Thailand, and Vietnam — for cooperation in tourism, culture, education, as well as transport and communications. «Peace and prosperity in the region also play a pivotal role in realising Prime Minister (Narendra) Modi's vision of security and growth for all in the region under India's Act East policy,» he said. «The Mekong Ganga Cooperation holds a special place in this region as the oldest sub-regional cooperation rooted in the rich historical, geographical and cultural ties among our six member countries,» Jaishankar said.

India said no to China’s Belt and Road Initiative at the SCO summit. India continued its policies towards BRI which are largely seen as the mechanism for economic trade expansions based on clumsy and hideous terms of financial transactions.

BEIJING — China can't easily rely on its neighbors as export markets in a global slowdown, the latest trade data show.

On May 26, the Laotian government reportedly hosted the inaugural Ministerial Conference on Blockchain 4.0 Digital Transformation in the country’s capital, Vientiane. The conference, which was led by Laotian Prime Minister Sonexay Siphandone, was attended by blockchain experts and various leaders from the main economic departments within the country. 

BEIJING — In the last two years, China has announced the opening of new freight train lines, while cross-border railways have become a feature in President Xi Jinping's meetings with regional leaders.

Japanese financial software firm Soramitsu has announced the signing of a memorandum of understanding with the Bank of the Lao People’s Democratic Republic Payment Systems Department on the launch of a proof-of-concept project for a Laotian central bank digital currency (CBDC). Under the agreement, a digital form of the Lao kip, called the DLak, would launch Feb. 7.

Disclaimer: The text below is a press release that was not written by Cryptonews.com.