Business

After the cryptocurrency exchange Zipmex temporarily suspended withdrawals a week ago, Thailand’s Securities and Exchange Commission announced on Monday, July 25th, that it was collaborating with law enforcement to investigate potential losses incurred by the general public as a result of the situation. The U.S. Securities and Exchange Commission (SEC) said in a statement that it would be requesting concerned …

Udenna Corporation, a Philippine conglomerate owned by a close associate of the country’s previous president, announced on Monday that a subsidiary of the company had paid a debt to prevent a default on other loans. This helped shares in related companies recover from huge losses that had occurred earlier. Udenna, one of the most rapidly expanding enterprises in the country, …

According to a statement made by the environmental organization Greenpeace on Wednesday, China gave its approval to the building of 8.63 gigawatts (GW) of coal power in the first quarter of this year, which is about half the amount that is expected to be seen in the entirety of 2021. In an effort to bring its climate-warming carbon dioxide emissions, …

INDONESIA: The upcoming harvest season is expected to keep inventories full, therefore the Indonesian palm oil industry is pleading with authorities to reduce export restrictions and levies so that it can sell produce that otherwise risks going to waste. Prices have fallen by nearly half since late April to their lowest level in over a year as the world’s largest …

CHINA: A record quarterly profit from Uniqlo owner Fast Retailing pushed the company’s share price to its highest level this year in Tokyo trade on Friday. One-day gains of 8.5% were the most since April 15, and it was expected to conclude at its best level since November 2021. China, Fast Retailing’s most important international market, had severe losses in …

TAIWAN: According to a government official, Foxconn, the world’s largest contract electronics manufacturer, would need permission from the Taiwanese government to invest in troubled Chinese semiconductor firm Tsinghua Unigroup (Jul 14). According to reports in Taiwan’s media, Foxconn Industrial Internet, a China-listed affiliate of Foxconn, aims to invest 9.8 billion yuan ($1.46 billion) in Unigroup as part of Foxconn’s strategy …

INDONESIA: For the time being, Indonesia has halted the recruitment of its people to work in Malaysian plantations, claiming a breach of a worker recruitment agreement struck between the two nations on Wednesday (July 13). As the world’s second-largest palm oil producer and a vital supply chain component, Malaysia is now dealing with a labor shortfall of approximately 1.2 million …

INDONESIA: Fifty tons of frozen chicken from Indonesia arrived in Singapore on Wednesday (Jul 13). Indonesian enterprises will now be able to export chicken to Singapore for the first time under a new arrangement. According to Charoen Pokphand Indonesia (CPI), the Thai food conglomerate’s unit in Indonesia, it has signed a contract with an importer in Singapore for the supply …

MALAYSIA: Malaysia’s palm oil stocks hit a seven-month high at the end of June, as exports were curtailed by Indonesian measures aimed at boosting its own shipments, according to statistics released by the industry regulator on Tuesday. According to the Malaysian Palm Oil Board, inventories jumped 8.76 percent from the previous month to 1.66 million tonnes, the highest since November …

INDONESIA: On Wednesday (July 13), Indonesia will begin exporting chicken goods to Singapore, according to an Indonesian Ministry of Agriculture official. Charoen Pokphand’s Indonesian subsidiary, Mdm Tri Mela Sari, a director at the ministry, confirmed to CNA that the first shipment will consist of frozen chicken meat from Indonesia. The volume of exports is still a mystery. “On Wednesday, July …