Thailand to Raise Imported EV Taxes to 35% in Push to protect Local Production

Thailand Business News - Nov 3, 2026

Excise taxes on fully imported BEVs and REEVs will increase to 35% starting in January, closing the price gap between foreign-built vehicles and locally assembled models.

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European firm investing $50M to set up hangar in Clark airport, says BCDA

Nov 3, 2026

European firm investing $50M to set up hangar in Clark airport, says BCDA

The Bases Conversion and Development Authority (BCDA) said Tuesday a European company is pouring in about $50 million to set up a maintenance, repair, and overhaul hangar at the Clark International Airport.

Binance says outflows normalized; North Korea rejects US allegation over heist

Nov 3, 2026

Binance says outflows normalized; North Korea rejects US allegation over heist

Asset outflows from Binance have normalized, its co-CEO said, as North Korea dismissed US allegations that it was behind a $6.3-billion cryptocurrency heist on its platform.

Vice-Premier He Lifeng vows support for Hong Kong as international financial centre

Nov 3, 2026

Vice-Premier He Lifeng vows support for Hong Kong as international financial centre

Beijing says it will introduce extra measures, as needed, to bolster Hong Kong as an international financial centre, with Vice-Premier He Lifeng pledging continued support in a speech on Tuesday. Delivering a keynote speech at the opening of the 2026 Global Financial Leaders’ Investment Summit in Hong Kong via video link, He said finance was the most important leg of the city’s “four centres and one highland” agenda and stressed that using the advantages of the “one country, two systems”...

Hong Kong’s ‘superconnector’ role key as geopolitics reshapes capital flows, says banker

Nov 3, 2026

Hong Kong’s ‘superconnector’ role key as geopolitics reshapes capital flows, says banker

Hong Kong is poised to play a bigger role in helping global investors diversify their portfolios as geopolitical uncertainties reshape capital flows and drive demand for alternative markets and asset classes, a senior executive from Bank of China said on Tuesday. The city’s position as an international financial centre, its links between mainland China and global markets, and its offshore yuan market make it an important gateway for cross-border investment, according to Bank of China president...

Petron reports 44% decline in net income amid rising costs, tensions

Nov 3, 2026

Petron reports 44% decline in net income amid rising costs, tensions

Ramon Ang-led fuel retailer Petron Corp. reported a 44% decline in its net income in January to September, dragged by rising costs and external headwinds amid the ongoing geopolitical conflict in the Middle East.

China moves to simplify forex settlements, ease cross-border business

Nov 3, 2026

China moves to simplify forex settlements, ease cross-border business

China plans to expand foreign exchange settlement services and streamline cross-border trade payments, in a move to lower transaction costs and facilitate international commerce. The State Administration of Foreign Exchange (Safe) on Monday released a draft notice for public consultation outlining nine measures to facilitate current-account foreign exchange transactions. The proposals aimed to “broaden the applicable scenarios, scope and types of services” and “further reduce businesses’ fund...

As global AI sell-offs rattle investors, Goldman Sachs touts ‘enormous opportunities’

Nov 3, 2026

As global AI sell-offs rattle investors, Goldman Sachs touts ‘enormous opportunities’

The artificial intelligence (AI) boom could be a super-long cycle that would eventually drive productivity and bring down costs, according to the chairmen of Morgan Stanley and Goldman Sachs, who suggested the ongoing pullback in technology stocks could be a temporary speed bump. David Solomon, who is also Goldman Sachs’ CEO, and Ted Pick, also CEO of Morgan Stanley, touted the prospects of the cutting-edge technology and its demand at the Global Financial Leaders’ Investment Summit in Hong Kong...

China’s ‘Lipstick King’ hawks tokens as AI gets mass-market Singles’ Day push

Nov 3, 2026

China’s ‘Lipstick King’ hawks tokens as AI gets mass-market Singles’ Day push

China’s “Lipstick King” has traded make-up swatches for artificial intelligence. Top live-streamer Li Jiaqi on Monday evening teamed up with an executive from Alibaba Group Holding to pitch AI subscriptions, selling nearly 100,000 monthly packages in just 30 minutes, according to data provided by the e-commerce giant. The broadcast on Taobao and Tmall – Alibaba’s largest domestic online marketplace – marked the first time generative AI products have taken centre stage during the annual Singles’...

Philippine ready-to-drink dairy milk production set to increase by 2027

Nov 3, 2026

Philippine ready-to-drink dairy milk production set to increase by 2027

The production and consumption of ready-to-drink dairy milk in the Philippines are expected to increase in 2027 due to the increase in dairy herds and various demands, the United States Department of Agriculture (USDA) said.

PH corn production falls 17% in Q3 2026 - PSA

Nov 3, 2026

PH corn production falls 17% in Q3 2026 - PSA

The country"s corn production declined in the third quarter of 2026 compared with the same period last year, according to the Philippine Statistics Authority (PSA).

Gasoline prices up by P3.50/L

Nov 3, 2026

Gasoline prices up by P3.50/L

MANILA, Philippines — The Department of Energy (DOE) said gasoline prices will increase by as much as P3.50 per liter effective on Tuesday. Diesel and kerosene will have price cuts of at least P1 to P1.90, respectively. The DOE cited “ongoing developments in the Middle East that are affecting global supply and prices.” READ: Gasoline

Biz groups to PH, China: ‘Lower the temperature’

Nov 3, 2026

Biz groups to PH, China: ‘Lower the temperature’

MANILA, Philippines — The Philippines stands to suffer more than China from a further deterioration in bilateral relations, business and civic groups warned on Monday, urging Manila and Beijing to “lower the temperature” and prevent their diplomatic standoff from damaging trade, investment and jobs. More than 20 business, labor and civic organizations called for a

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