Top Thai Billionaires-Backed Groups Win Digital Bank Permits
ACM Holding Co., which is part of CP Group, and Advanced Info Service Pcl, a Gulf Development's mobile phone affiliate, secured the permits, Bank of Thailand said on Thursday. SCB X, which formed a consortium that includes China's WeBank Co. Ltd. and South Korea's KakaoBank Corp, also obtained the virtual bank license.
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CNN
an hour ago
- CNN
A Trump tariff letter is the best news this Southeast Asian junta has had in a while
For most world leaders, tariff letters from US President Donald Trump mean a big headache. But for one Southeast Asian general, the communique is being spun as welcome recognition of the embattled, isolated and reviled junta he leads. Senior General Min Aung Hlaing, head of the military that seized power in Myanmar in 2021 after ousting a democratically elected government, said it was he who had the 'honor' of receiving of Trump's letter sent on Monday announcing new tariffs, state media Global New Light of Myanmar reported on Friday. The letter, which stated the United States would be imposing a new tariff rate of 40 percent on Myanmar's exports to the US starting August 1, was received with 'sincere appreciation,' the newspaper said. The United States and most Western countries have not recognized the junta as the legitimate government of Myanmar, also known as Burma. The military's power grab sparked a catastrophic civil war now in its fifth year, with pro-democracy fighters and ethnic rebel groups battling the military across swaths of the country. The United Nations and other rights groups have accused the military of war crimes as it battles to cling to power. The US, the United Kingdom and the European Union have all sanctioned the military and sought to limit contact with its representatives on the world stage. Washington and most Western capitals no longer station fully accredited ambassadors in Myanmar, a diplomatic snub the ruling generals have long chafed at. But this week's letter was spun as an 'encouraging invitation to continue participating in the extraordinary Economy of the United States,' Min Aung Hlaing was quoted as saying, adding a high-level negotiation team could be sent 'as quickly as possible to the US to discuss with the relevant authorities,' if needed. CNN has reached out to the US embassy in Myanmar for details on how the letter was delivered and for comment on whether it signals a change in Washington's stance on the junta. Min Aung Hlaing also asked that Washington consider lifting and easing economic sanctions on Myanmar, 'as they hinder the shared interests and prosperity of both countries and their peoples,' he was quoted as saying. The general – who led Myanmar's military in 2017, when the United States said it committed genocide against the Rohingya minority – also took the chance to heap praise on Trump. He hailed his 'strong leadership in guiding his country towards national prosperity with the spirit of a true patriot, as well as continued efforts to promote peace on the global stage,' the Global New Light said. Min Aung Hlaing also thanked Trump for 'regulating broadcasting agencies and funds, which have sometimes exacerbated the existing conflicts' – an apparent reference to the Trump administration's funding cuts to US outlets such as Radio Free Asia and Voice of America. Both outlets have long been popular across Myanmar for their independent reporting, and have become even more vital following the junta's crackdown on the free press. Min Aung Hlaing sought to appeal to a longstanding Trump grievance – his long-debunked claims of massive election fraud in the 2020 election won by former President Joe Biden. 'Similar to the challenges the President encountered during the 2020 election of the United States, Myanmar also experienced major electoral fraud and significant irregularities,' he was quoted as saying. The election he was referring to in Myanmar was won resoundingly by Nobel laureate Aung San Suu Kyi and her National League for Democracy party, which won a second term at the expense of the military's proxy party. International observers at the time concluded the election was largely free and fair but the military soon began making unsubstantiated claims of massive fraud. Weeks later, it launched its coup, ending a 10-year experiment with democracy and plunging Myanmar into turmoil. Suu Kyi has been in military custody since, and is serving a 27-year jail sentence following a closed-door trial that critics say was a sham and designed to remove the popular leader and longtime foe of the military from political life. Ross Adkin contributed reporting
CNN
an hour ago
- CNN
A Trump tariff letter is the best news this Southeast Asian junta has had in a while
For most world leaders, tariff letters from US President Donald Trump mean a big headache. But for one Southeast Asian general, the communique is being spun as welcome recognition of the embattled, isolated and reviled junta he leads. Senior General Min Aung Hlaing, head of the military that seized power in Myanmar in 2021 after ousting a democratically elected government, said it was he who had the 'honor' of receiving of Trump's letter sent on Monday announcing new tariffs, state media Global New Light of Myanmar reported on Friday. The letter, which stated the United States would be imposing a new tariff rate of 40 percent on Myanmar's exports to the US starting August 1, was received with 'sincere appreciation,' the newspaper said. The United States and most Western countries have not recognized the junta as the legitimate government of Myanmar, also known as Burma. The military's power grab sparked a catastrophic civil war now in its fifth year, with pro-democracy fighters and ethnic rebel groups battling the military across swaths of the country. The United Nations and other rights groups have accused the military of war crimes as it battles to cling to power. The US, the United Kingdom and the European Union have all sanctioned the military and sought to limit contact with its representatives on the world stage. Washington and most Western capitals no longer station fully accredited ambassadors in Myanmar, a diplomatic snub the ruling generals have long chafed at. But this week's letter was spun as an 'encouraging invitation to continue participating in the extraordinary Economy of the United States,' Min Aung Hlaing was quoted as saying, adding a high-level negotiation team could be sent 'as quickly as possible to the US to discuss with the relevant authorities,' if needed. CNN has reached out to the US embassy in Myanmar for details on how the letter was delivered and for comment on whether it signals a change in Washington's stance on the junta. Min Aung Hlaing also asked that Washington consider lifting and easing economic sanctions on Myanmar, 'as they hinder the shared interests and prosperity of both countries and their peoples,' he was quoted as saying. The general – who led Myanmar's military in 2017, when the United States said it committed genocide against the Rohingya minority – also took the chance to heap praise on Trump. He hailed his 'strong leadership in guiding his country towards national prosperity with the spirit of a true patriot, as well as continued efforts to promote peace on the global stage,' the Global New Light said. Min Aung Hlaing also thanked Trump for 'regulating broadcasting agencies and funds, which have sometimes exacerbated the existing conflicts' – an apparent reference to the Trump administration's funding cuts to US outlets such as Radio Free Asia and Voice of America. Both outlets have long been popular across Myanmar for their independent reporting, and have become even more vital following the junta's crackdown on the free press. Min Aung Hlaing sought to appeal to a longstanding Trump grievance – his long-debunked claims of massive election fraud in the 2020 election won by former President Joe Biden. 'Similar to the challenges the President encountered during the 2020 election of the United States, Myanmar also experienced major electoral fraud and significant irregularities,' he was quoted as saying. The election he was referring to in Myanmar was won resoundingly by Nobel laureate Aung San Suu Kyi and her National League for Democracy party, which won a second term at the expense of the military's proxy party. International observers at the time concluded the election was largely free and fair but the military soon began making unsubstantiated claims of massive fraud. Weeks later, it launched its coup, ending a 10-year experiment with democracy and plunging Myanmar into turmoil. Suu Kyi has been in military custody since, and is serving a 27-year jail sentence following a closed-door trial that critics say was a sham and designed to remove the popular leader and longtime foe of the military from political life. Ross Adkin contributed reporting
Yahoo
3 hours ago
- Yahoo
MINISO Group Holding Limited Unsponsored ADR (MNSO) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest trading session, MINISO Group Holding Limited Unsponsored ADR (MNSO) closed at $17.74, marking a -1.93% move from the previous day. This change lagged the S&P 500's daily loss of 0.33%. Elsewhere, the Dow lost 0.63%, while the tech-heavy Nasdaq lost 0.22%. Coming into today, shares of the company had lost 1.47% in the past month. In that same time, the Retail-Wholesale sector gained 0.67%, while the S&P 500 gained 4.07%. Investors will be eagerly watching for the performance of MINISO Group Holding Limited Unsponsored ADR in its upcoming earnings disclosure. In the meantime, our current consensus estimate forecasts the revenue to be $672.03 million, indicating a 21.03% growth compared to the corresponding quarter of the prior year. Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.12 per share and revenue of $2.9 billion, indicating changes of -2.61% and +22.75%, respectively, compared to the previous year. Additionally, investors should keep an eye on any recent revisions to analyst forecasts for MINISO Group Holding Limited Unsponsored ADR. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system. The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. MINISO Group Holding Limited Unsponsored ADR is currently a Zacks Rank #5 (Strong Sell). In terms of valuation, MINISO Group Holding Limited Unsponsored ADR is presently being traded at a Forward P/E ratio of 16.22. This indicates a discount in contrast to its industry's Forward P/E of 17.97. It is also worth noting that MNSO currently has a PEG ratio of 1.06. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Retail - Apparel and Shoes stocks are, on average, holding a PEG ratio of 2.02 based on yesterday's closing prices. The Retail - Apparel and Shoes industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 209, putting it in the bottom 16% of all 250+ industries. The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Don't forget to use to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report MINISO Group Holding Limited Unsponsored ADR (MNSO) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
