Bloomberg Thailand is preparing rules for the setting up of virtual banks, set to join peers including Singapore and Malaysia in promoting financial technology to spur competition and wider access to banking services. The Bank of Thailand (BOT) plans to issue guidelines for digital banks by June and may allow existing lender and new applicants to seek licenses, Assistant Governor …

  Bloomberg The rally in global stocks faltered following disappointing earnings from technology bellwethers and as traders await more clues on how quickly key central banks will tighten the monetary policy. US equity futures dropped, with contracts on the technology-heavy Nasdaq 100 losing 1.8%, after Facebook parent Meta Platforms Inc and streaming service Spotify Technology SA plunged in late trading …

  Bloomberg Warren Buffett’s surprise bet on Japan’s trading houses is paying off as the companies expect a record-breaking rebound in profits. The trading companies, known as “sogo shosha” in Japan, boosted their net income outlook after the rebound in prices of everything from crude oil to iron ore. Buffett shocked the world in 2020 when Berkshire Hathaway Inc announced …