Bloomberg Thailand will allow the nation’s first virtual banks to offer services in 2025 amid a push to boost competition, widen loan access and cut costs for businesses and the individuals. The Bank of Thailand plans to issue three such licenses in 2024 before the operations begin a year later, said Assistant Governor Tharith Panpiemras. There are about 10 ...

Bloomberg Sri Lanka will probably clinch a debt restructuring deal with its creditors only by the end of the year, with Standard Chartered Plc predicting losses for both domestic and dollar bondholders. The International Monetary Fund (IMF) board approval of a $2.9 billion bailout for the island nation is likely to happen in the second rather than first quarter of ...

Bloomberg Credit Suisse Group AG’s longtime top shareholder Harris Associates slashed its stake by about half, in a sign of wavering confidence on the latest turnaround plan of the troubled Swiss lender. The US investment firm, which last year still held a stake of about 10%, saw its holding fall to about 5% as of the end of last year, ...