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☆ Thai hospitality magnate is 'very optimistic' about Thailand's tourism recovery
▼ + stars: | 2023-09-13 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +2 min

© Marco Bottigelli | Moment | Getty ImagesThailand's tourism recovery is poised for recovery as diplomatic relations with Saudi Arabia normalize and Chinese tourists return, according to American-born hotel tycoon William Heinecke. "We've seen the recovery of all Saudi tourism into Thailand. Now there's two flights a day from Saudi direct to Thailand," Heinecke, who is chairman of Thai hospitality company Minor International, said on the sidelines of the Forbes Global CEO Conference in Singapore. Return of Chinese tourists? Additionally, Heinecke said he expects Thailand to benefit when Chinese tourism is back in full swing.

Persons: Marco Bottigelli, William Heinecke, We've, Heinecke, Prayut Chan, Mohammad bin Salman Organizations: Minor International, Forbes Global, Conference, Thai, Saudi Arabia's Crown, Minor, Emirates, Qatar Airways Locations: Thailand, Saudi Arabia, American, Saudi, Singapore, Eastern Europe, Russia, Ukraine, China

☆ Steve Forbes says the Fed's not going to cut rates soon
▼ + stars: | 2023-09-12 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Steve Forbes doesn't expect the Federal Reserve to raise rates in upcoming meetings, but the Forbes Media chairman doesn't see cuts in the near term either. "I think the Federal Reserve is not going to increase interest rates in the next few months. I think they're going to pause," Forbes said, citing the slew of contradictory U.S. economic data. The Federal Open Market Committee's next meeting is scheduled for Sept. 19 to 20. There's a 92% chance the central bank will leave rates unchanged after its September meeting, according to the CME's FedWatch tool.

Persons: Steve Forbes doesn't, doesn't, Forbes, CNBC's Chery Kang, There's Organizations: Federal Reserve, Forbes Media, Forbes Global, Fed Locations: Singapore

☆ AirAsia's operations to return to pre-pandemic level by Dec, says Capital A CEO
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

The logo of AirAsia under Capital A is seen displayed in this illustration picture taken March 7, 2022. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsSINGAPORE, Sept 11 (Reuters) - Capital A Berhad (CAPI.KL), parent of Malaysian budget airline AirAsia, expects to see the carrier's operations returning to pre-pandemic levels by December, Capital A CEO Tony Fernandes told Reuters on Monday. The target indicates a slight delay from his earlier forecast of putting all 204 of its fleet back in service by August. Fernandes did not elaborate on the delay, but said drivers for capacity growth included improving demand from migrating workforce, tourism, students and connecting travellers. Reporting by Yantoultra Ngui; Editing by Himani Sarkar and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Tony Fernandes, We'll, Fernandes, Yantoultra Ngui, Himani Sarkar, Muralikumar Organizations: AirAsia, REUTERS, Rights, Berhad, Malaysian, Capital, Reuters, Forbes Global, Thomson Locations: Capital, Rights SINGAPORE, Singapore

Jenny Johnson, President and CEO of Franklin Resources, Inc., speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, U.S., May 4, 2022. REUTERS/Mike Blake/File Photo Acquire Licensing RightsSINGAPORE, Sept 11 (Reuters) - The idea that investment opportunities in China have met their demise is probably overhyped, said Jenny Johnson, president and chief executive officer at global investment management firm Franklin Templeton. "There is a lot of pessimism built into the pricing," she said at a session at the Forbes Global CEO Conference in Singapore. Johnson's comments came as global investors have reduced their appetite for China, discouraged by the country's faltering economic recovery and tensions with the West. Meanwhile, Johnson also sees opportunities in secondary private equities and private credit globally.

Persons: Jenny Johnson, Mike Blake, Franklin Templeton, Johnson, Franklin, Legg Mason, Johnson's, Gina Raimondo, Yantoultra Ngui, Gerry Doyle Organizations: Franklin Resources, Inc, Milken, Global Conference, REUTERS, Rights, Forbes Global, Conference, West, . Commerce, Thomson Locations: Beverly Hills , California, U.S, Rights SINGAPORE, China, Singapore, West .

☆ James Cameron's $33 million eco-friendly estate helped inspire the blockbuster Avatar franchise. Take a look inside.
▼ + stars: | 2023-07-09 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +2 min

The home is in Hollister Ranch, a coastal subdivision where singer Jackson Browne has also lived. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. The mostly solar- and wind-powered estate sits in Hollister Ranch, a secluded coastal subdivision that restricts residential development to help preserve the area's wildlife and native vegetation. According to a history of the area published by the Hollister Ranch Conservancy, the property "represents a concept of land development that is a model for both landowners and environmentalists." Cameron and his wife, Suzy Amis Cameron, purchased the property in the late 1990s for $4.375 million, WSJ writer Katherine Clarke found.

Persons: James Cameron, Jackson Browne, Cameron, Oscar, Jeff Kruthers, Suzy Amis Cameron, Katherine Clarke, — Organizations: Service, Village Properties, Forbes Global Properties, Hollister Ranch Realty, Wall Street Journal, Conservancy Locations: Hollister Ranch, Wall, Silicon, Gaviota, Santa Barbara County, California, Hollister

☆ Indian truckers say Hindenburg report was a godsend in Adani dispute
▼ + stars: | 2023-02-23 | by ( ) www.cnbc.com time to read: +1 min

Signage for the Adani Group in Mumbai, India on Feb. 9, 2023. Adani stocks fell, ending a two-day rally, after MSCI said it was reviewing the amount of shares linked to the group that were freely tradable in public markets. For truckers transporting cement from Adani's factories in a hilly north Indian state, a U.S. short-seller's critical research report on the giant conglomerate was a godsend they say helped them save their livelihoods. Truckers rejoiced, with a union leader in a street address labelling it as a victory after late-night talks with Adani. The settlement comes four weeks after U.S.-based Hindenburg Research accused Adani of stock manipulation and improper use of tax havens, allegations the group called baseless.

Adani argued the plants were "unviable" at the trucking rates it wanted to slash by around half. Truckers rejoiced, with a union leader in a street address labelling it as a victory after late-night talks with Adani. After the Hindenburg report, Congress has renewed its claims that Modi for years has unduly favoured Adani. The Adani group wanted freight rates to be lowered to around 6 rupees ($0.0725) per tonne per km, from around 11 rupees. "The Hindenburg report was a gift that saved our businesses."

☆ India's startup market may be behind China's, but it has 'tremendous potential,' says Facebook co-founder
▼ + stars: | 2022-09-29 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +3 min

India's startup market is worth betting on, though it's still "a few years" behind China's, Facebook co-founder Eduardo Saverin said. "I think India is a huge market with just tremendous potential," Saverin said, in response to a question on why India's startup ecosystem has not generated better returns. "And I think as the market continues to mature, and as you get into a better macroeconomic environment, it is a market to bet on, combined with Southeast Asia." According to India's Ministry of Finance report from August, the country's foreign direct investments in the first quarter of the year still lagged behind China's. "And actually, some of the biggest companies out there, I think Microsoft started during a recession."

☆ Asia's richest man, Gautam Adani, feels China will be 'increasingly isolated' in current global turbulence — and says the country's bounce back will be harder than ever
▼ + stars: | 2022-09-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Gautam Adani says China will feel "increasingly isolated," and sees a harder economic bounce back. However, the global turbulence has quicked opportunities for the rise of India, plugs Adani. "I anticipate that China – that was seen as the foremost champion of globalization – will feel increasingly isolated," Adani said in his keynote speech at the Forbes Global CEO Conference in Singapore on Tuesday. As the factory for the world, China has benefited from globalization, but its tide may be turning — and its bounce back will be challenging, Adani said. Meanwhile, global turbulence has "accelerated opportunities" for India, Adani said.

SINGAPORE, Sept 28 (Reuters) - Southeast Asia's digital media and tech sectors, underpinned by young consumers and one of the fastest growing internet markets, had drawn U.S. investment bank Raine Group to expand in the region, senior executives said. Global media, entertainment and gaming giants are ramping up their presence in Southeast Asia's fast-growing economies. Raine specializes in media, sports and technology deals and also oversees $4 billion in growth equity and venture capital. It advised Southeast Asia's biggest ride-hailing firm Grab on its purchase of Uber's regional business in 2018. Reuters reported last week that Raine had tapped Jonathan Pflug, Morgan Stanley's head of Southeast Asia M&A, to lead its regional coverage.

☆ Inflation is here to stay despite rising interest rates, Asian business leaders warn
▼ + stars: | 2022-09-27 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +4 min

Iya Forbes | Bloomberg | Getty ImagesInflation in consumer goods will persist as a "new normal" as the global economy undergoes structural changes, Asian business leaders warn. While rising interest rates might eventually temper asset prices, deglobalization and decarbonization could continue to drive up costs for everyday goods, said V. Shankar, chief executive of emerging markets investment manager Gateway Partners. "Despite helicopter money and zero interest rates, the reason why the price of goods stayed down for so long is because of a vast efficient manufacturing agent called China, and the integration of global supply chains." Ho Kwon Ping, executive chairman of Singapore's multinational hospitality group Banyan Tree Holdings agreed, saying higher interest rates are not the new normal, rather, zero or low interest rates were "abnormal." "The world is going, in my view, back to probably a long-term situation of low interest rates, and hopefully, low inflation, but zero inflation, zero interest rates, that's the abnormality, and not the future that we're looking at."

☆ Siberia will be full of investment opportunities in the next 3 decades if you can get in right after the war, says a fund manager who manages $7 billion in assets
▼ + stars: | 2022-09-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Investing in Russia after the war with Ukraine could present a surpising upside, said an investor. That's thanks to vast farmlands in Siberia, said Cheah Cheng Hye, co-CIO of Value Partners Group. They will be a food superpower," said Cheah Cheng Hye, co-chief investment officer of Value Partners Group, an asset management firm that manages about $7 billion in assets. Over two-thirds of Value Partners' clients are based in China and Hong Kong. Moreover, China has not condemned Moscow over the Ukraine war.

☆ The golden age of globalization is clearly over, says Singapore's Deputy Prime Minister Lawrence Wong
▼ + stars: | 2022-09-27 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +4 min

"The golden age of globalization that we experienced in the last 30 years since the end of the Cold War has ended clearly and we are entering a new era, a new era that will be marked by greater geopolitical contestation," said Singapore's Deputy Prime Minister and Minister for Finance Lawrence Wong. Bloomberg | Bloomberg | Getty ImagesThe golden age of globalization has ended and a fundamental change to the way the world works is underway, said Singapore's Deputy Prime Minister and Minister for Finance Lawrence Wong. "Where previously the logic was, countries do not have to be friends to do business with one another. In fact, the hope was that the more we trade and invest in each other, we will tamp down geopolitical rivalry," Wong said. "The generation of Chinese born perhaps in the last generations, many of them idealized America and the American way of life.

☆ The 'real cure' for inflation has gone ignored, Steve Forbes says
▼ + stars: | 2022-09-26 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +2 min

In focusing on raising interest rates to cool inflation, central banks and governments have overlooked the importance of maintaining stable currencies, said Steve Forbes, chair of Forbes Media. Currencies are weakening against the U.S. dollar as interest rates in the United States continue to rise. It's about depressing the economy to fight inflation," Forbes said at the Forbes Global CEO Conference in Singapore on Monday. "They do it by artificially raising interest rates. Forbes suggested using gold to stabilize currencies — for example, tying the U.S. dollar to gold so the dollar has a fixed value.

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