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BEIJING (China Daily/Asia News Network): China's latest commitment to expanding high-level opening-up is expected to reassure foreign investors of the nation's promise to relentlessly open its door wider and share development dividends with the rest of the world despite the rising tide of protectionism in some countries. In a virtual keynote speech to the opening ceremony of the BRICS Business Forum held on Wednesday, President Xi Jinping said that China will continue to pursue opening-up of higher standards, develop new systems for a higher-standard open economy, foster a business environment that is based on market principles, governed by law and up to international standards. Xi encouraged businesses to invest and develop in China, enhance trade and economic cooperation, and share development opportunities. In an article published on Wednesday in People's Daily, He Lifeng, head of the National Development and Reform Commission, wrote that Xi Jinping Thought on Socialist … [Read more...] about China vows to open its door wider to world

- A + A BANGKOK (June 27): A tightening of Thai monetary policy will be conducted so it does not disrupt the recovery of Southeast Asia's second-largest economy, central bank officials said on Monday, reinforcing market expectations of interest rate hikes later this year. Thailand's economy will continue growing this year and next, driven by domestic demand and tourism, and could beat forecasts despite a risk that inflation will be higher than expected, Bank of Thailand (BOT) officials told an analysts' meeting. The BOT will try to prevent the economy from overheating, which would cause demand-driven inflation, by gradually shifting from the current very accommodative policy, assistant governor Piti Disyatat told the meeting. The BOT's task was to help the economy take off smoothly, he said. "It's a challenge for monetary policy to release the accelerator pedal appropriately and timely so that the recovery has good momentum," Piti said, referring to the current … [Read more...] about Thai central bank says policy tightening will not disrupt economy recovery

This article first appeared in The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. - A + A LAST week, CTOS Digital Bhd made a bold move to raise its stake in RAM Holdings Bhd (RAM), in which it already owns a 19.225% stake. This is the third acquisition that CTOS has undertaken within a year. CTOS, which bought into RAM shortly after it was listed in July last year, launched a general offer last week to buy out the remaining shares that it does not own in the credit rating agency (CRA) soon after it got the green light from the Securities Commission Malaysia (SC) to own more than 51%. CTOS has so far spent the bulk of the RM173.8 million raised from a private placement in March on mergers and acquisitions (M&A). RAM will be the first local CRA to have a controlling shareholder upon the completion of the takeover offer. Dollars and cents aside, the takeover bid has prompted some quarters to question whether the independence of RAM’s rating … [Read more...] about Making sense of CTOS’ venture into RAM

Share to Twitter Share to Linkedin Cryptocurrencies are rising Friday as bitcoin climbed over $21,000 during Asia’s trading hours. MATIC, the native token of Ethereum-scaling platform Polygon MATIC , is leading the surge, according to Forbes Digital Assets leaderboard . The token has extended its Thursday rally after ​​Polygon’s team introduced a product with improved privacy for decentralized autonomous organizations (DAOs) and Coinbase, the largest cryptocurrency exchange in the U.S. by market share, announced that it had added support for cryptocurrency transactions on Polygon. MATIC is up by 16.45% over the past 24 hours as of 9:38 A.M. ET. Among the 10 largest cryptocurrencies, XRP XRP and solana are posting the highest gains, 13.3% and 12% respectively. Speaking at the NFT.NYC conference yesterday, Anatoly Yakovenko, Solana’s SOL cofounder and CEO, unveiled a new Android phone called Saga and a new subsidiary within Solana focused on … [Read more...] about Polygon Leads Broad Crypto Surge, Bitcoin Breaks Back Above $21,000