Thailand Financial News

The  Securities and Exchange Commission (SEC)  of Thailand  is taking measures to protect crypto investors from misleading advertisements.

Thai authorities recently cracked down on a crypto mining operation suspected of stealing electricity. The raid in Samut Sakhon and Ratchaburi netted over 650 mining devices valued at more than 200m baht (about $5m).

Thailand’s recent crackdown on unauthorized exchanges mirrors the global struggle to balance crypto regulation with innovation. Meanwhile, Milei Moneda’s ($MEDA) presale surge offers investors a unique blend of defiance, economics, and humor in the crypto sphere.

Stablecoin adoption is increasing rapidly. Data from research firm rwa.xyz shows the number of addresses holding both dollar and crypto-pegged stablecoins has increased by 15% in 2024, which is the highest to date. 

Vietnam's National Assembly has resigned, the ruling Communist Party said Friday, one of the most senior leaders to fall in a sweeping anti-corruption purge. Vuong Dinh Hue asked to step down because of «violations and shortcomings», the party said in a statement on its website.

Aussiebum, Australian brand of men's swimwear, underwear, and clothing plans to establish its own manufacturing unit in India to produce for domestic and global markets, Sean Ashby founder and CEO of the company told ET. The brand aim to capture 3-5% share of the innerwear market in India by 2026 and has already started selling online. “This localized production will create employment opportunities while enabling aussieBum to seamlessly blend Indian talent and resources into its design and innovation process,” said Ashby.

SBI Card has launched three variants of its first travel-focused core credit card ‘SBI Card MILES’. The three variants are SBI Card MILES ELITE, SBI Card MILES PRIME and SBI Card MILES.

solar manufacturers filed trade complaints Wednesday formally requesting that the Biden administration impose tariffs on solar products being exported from Southeast Asia into the United States. The petitions were filed with the Department of Commerce and the U.S. International Trade Commission. They come amid growing alarm within the U.S. solar industry that a flood of cheap Chinese green energy technology exports are pushing down prices of solar panels and threatening efforts by the Biden administration to develop a domestic solar supply chain. Chinese companies have been relocating production of solar products to neighbouring countries to avoid existing tariffs, and U.S. manufacturers believe new trade measures are needed to protect their businesses. The complaints call for investigations into the trade practices of Vietnam, Cambodia, Thailand and Malaysia. In the past year, the United States has imported $12.5 billion worth of solar products from those countries as prices of solar products have dropped by around 50%.

Moroccan officials are aiming to turn the country into an aviation hub, luring investors aiming to spread out their supply chains to more nations with available and affordable workers

Thailand will restrict access to unauthorized crypto platforms due to concerns of law enforcement effectiveness and money laundering risks.

Days after the Centre asked e-commerce companies to eject Bournvita and other drinks and beverages from the ‘health drinks’ category on their platforms, Nestle has landed in hot water. After Public Eye, a Swiss investigative organization, and International Baby Food Action Network sent samples of Nestle’s baby food products sold in Asia, Africa and Latin America to a Belgian laboratory for tests, sugar was reportedly found in the infant milk-mix meant for less developed markets, but not in the stuff aimed at Europe and the UK.

Asian central banks’ need for assertive defense of their currencies is driving traders to turn less dovish on monetary policies in the region.

FSSAI) on Thursday took cognisance of Nestle's Cerelac sugar case, reported ET NOW citing sources. The regulator said that if found guilty, strict actions will be taken against the brand. A committee will be examining the matter, said FSSAI, as per ET NOW sources. Nestle sugar controversy Nestle adds sugar to infant milk sold in less affluent nations including India but not in its primary markets like Europe or the UK, reported ToI. The revelation came to light when «Public Eye,» a Swiss investigative organization, and IBFAN (International Baby Food Action Network) dispatched samples of the company's baby food items marketed in Asia, Africa, and Latin America to a Belgian laboratory for examination.

Thailand and New Zealand have vowed to boost economic cooperation with an aim to triple two-way trade by 2045, as the New Zealand leader visited Thailand for the first time in 11 years

The rupee has fallen to a new low of 83.5 against the dollar. This has wide ramifications, making exports lucrative but imports expensive. Mint looks at why the currency is falling, how it impacts everybody and what can RBI do.

Israel-Iran Tensions Impact: Emerging-market currencies fell to a new low for the year as the dollar extended gains into a fifth day amid heightened geopolitical tensions and after robust US data boosted bets the Federal Reserve will delay interest-rate cuts. Also Read | Israel vows to respond to Iran's drone attack, US military military assets in Middle East | Top 10 updates The MSCI EM Currency Index dropped 0.2% on Tuesday to the lowest since December.

Pattaya or a spa in Bangkok? Well, that could be a reality if India can pull off a currency deal with Thailand, which has emerged as one of the preferred destinations for holidays, conferences and corporate offsites, especially since the visa relaxation last year. Now, there are early signs that the government and the Reserve Bank of India (RBI) may be pondering over popularising the local unit in the South-East Asian country. The central bank recently asked banks to share their inputs and expectations on the level of transactions linked to Thailand. Authorised dealer banks issuing foreign exchange have a fair idea of travellers’ destinations, besides having latest information on international card spends and trade invoices. “They have asked for our feedback. I think there are plans of some rupee arrangement with Thailand. It’s in the early stages, as far as we can make out,” a senior banker told ET.

Bloomberg) --The European Central Bank held the line on interest rates but officials leaned even more toward a mid-year cut should inflation continue to cool. Lower borrowing costs would help nudge a European economy that’s struggled to register any growth for longer than a year. On the other side of the Atlantic, US economic activity is on much more solid footing and inflation is running too fast for Federal Reserve policymakers. Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy, geopolitics and markets:

Carnegie Endowment said the US has limited ability to influence the trajectory of emerging powers such as India. In a report released Tuesday, it said besides India, other emerging powers—Argentina, Brazil, Indonesia, Mexico, Nigeria, Saudi Arabia, South Africa, Thailand and Türkiye—have taken stances that contrast or directly clash with US positions on China and Russia over the past few years.

India’s finances wouldn’t look that pretty if fuel-stoked infl ation rearers its ugly head. A Morgan Stanley study showed if global crude oil prices rise to $110-120 a barrel in the next 3-4 months due to supply or geopolitical concerns, India’s infl ation fi ght could stretch.

Thailand’s state authorities held a meeting on Tuesday, calling to regulate peer-to-peer (P2P) cryptocurrency purchases and comprehensively prevent online fraud.