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Bloomberg Thailand plans to borrow an additional 700 billion baht ($22.3 billion) to fund measures to counter the worst wave of Covid-19 outbreak to hit Southeast Asia’s second-largest economy, people familiar with the matter said. A meeting of the cabinet chaired by Prime Minister Prayuth Chan-Ocha approved the new borrowing plan from the finance ministry, the people said, declining to ...

Bloomberg Sea Ltd, Southeast Asia’s most valuable company, more than doubled revenue in the first quarter, though losses swelled as it spent to ward off competition in the regional e-commerce and online entertainment arenas. Sales rose to $1.76 billion in the three months ended March from $714.9 million a year earlier, the Singapore-based company said. Net loss widened to $422.7 ...

Bloomberg GDS Holdings Ltd is considering acquiring GLP Pte’s data centres business as the Chinese cloud computing company seeks to expand its digital infrastructure capacity in the world’s second-largest economy, according to people familiar with the matter. GDS, a developer and operator of high-performance data centers across China, is holding preliminary talks with Singapore investment manager GLP over a potential ...

Bloomberg Indonesian online travel company Tiket.com is exploring going public through a merger with a special purpose acquisition company (SPAC) as it seeks to expand its business, according to people with knowledge of the matter. The startup is in talks with COVA Acquisition Corp for a deal that would value the combined entity at about $2 billion, according to the ...

Bloomberg President Joe Biden is looking to build on a denuclearisation agreement Donald Trump reached with North Korea, a move likely to be welcomed by South Korea, which has seen it as a starting point for disarmament discussions. Kurt Campbell, Biden’s Asia coordinator, made the administration’s first on-record comments that it would accede to the agreement struck in 2018 between ...

ABU DHABI / WAM The Ministry of Foreign Affairs and International Cooperation has strongly decried the derogatory and racist statements made by caretaker Lebanese Foreign Minister, Charbel Wehbe, against the Kingdom of Saudi Arabia and other GCC States. The Lebanese ambassador to the UAE was summoned by the MoFAIC and handed over a note of protest denouncing the Lebanese minister’s ...

Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc), announced on Tuesday, an investment of up to $318 million (AED1.16 billion) to connect newly drilled smart wells to the main production facilities at Bu Hasa, which will sustain production capacity of 650,000 barrels per day (bpd) at Adnoc’s largest onshore asset. The engineering, procurement and construction (EPC) contract ...

Abu Dhabi / WAM Sheikh Zayed Book Award (SZBA) revealed its cultural programme for the 30th edition of the Abu Dhabi International Book Fair (ADIBF), which will be held between May 23 and 29. In advance of its participation at ADIBF, SZBA has revealed its cultural programme during the week of the fair, which will comprise panel discussions involving winners ...

SHARJAH / WAM Sharjah Economic Development Department (SEDD) implemented the directives of Sharjah Executive Council regarding the regulation of conducting economic activities through mobile vehicles and trucks in the emirate of Sharjah. Such thing falls within SEDD’s concerns to regulate and organise the economic sector in Sharjah at all levels through setting policies, standards, regulations, decisions and executive circulars in ...

Bloomberg President Joe Biden told Prime Minister Benjamin Netanyahu he’d support a cease-fire between Israel and Hamas after days of calling for calm but not publicly seeking an end to the conflict, a shift in the US approach to the crisis following days of rising criticism. “The president expressed his support for a cease-fire and discussed US engagement with Egypt ...