Bangkok Airways is investing THB2.3 billion ($69 million) to expand its wholly owned Koh Samui and Trat airports. The airline plans to double Koh Samui Airport’s capacity and extend Trat Airport’s runway to accommodate jet-powered airliners. These investments are expected to drive significant growth for the airline.
Amazon’s decision to end its work-from-home policy and mandate a return to full-time office work in January has sparked debate. Former employees claim the move is driven by cost-cutting measures, citing practices like ‘silent sacking’ to push employees out. However, the move also offers potential economic benefits for local communities around Amazon’s headquarters.
Nigeria has implemented new guidelines for its Federal High Court to strengthen its compliance with the Cape Town Convention, a crucial international agreement governing aircraft leasing. This move, spearheaded by Aviation Minister Festus Keyamo, aims to boost investor confidence, streamline aircraft acquisition, and revitalize the nation’s aviation sector.
Thailand’s new cannabis bill aims to regulate the booming marijuana industry, shifting focus towards medical and health-related uses. This move follows the country’s 2022 decriminalization, making it the first in Asia to take such action. The bill proposes stricter regulations for growers, sellers, and related businesses while also allowing for medicinal and research uses, with penalties for recreational use.
Kimpton Virgilio has officially appointed Erick Vargas as General Manager of their new 48-room luxury boutique hotel in Mexico City. Vargas brings over 15 years of experience in hospitality management, having held key leadership roles at renowned brands like Hilton, Grand Hyatt, and Marriott. His expertise in optimizing operations and developing talent, coupled with his commitment to service excellence, make him a valuable asset to the Kimpton Virgilio team.
Shares of Core Scientific, a Bitcoin mining company, jumped over 20% in the past week, driven by anticipation of a Federal Reserve interest rate cut and the company’s ambitious AI data center expansion plans. The Fed’s decision to lower rates, boosting risk assets like stocks and cryptocurrencies, further fueled the rally.
Apple shares closed higher on Wednesday, fueled by the Federal Reserve’s unexpected interest rate cut and Foxconn’s continued progress in the electric vehicle market. The Fed’s move suggests a more aggressive easing approach, while Foxconn’s investment in EV production reinforces its commitment to becoming a major player in the industry.
Cryptocurrency markets traded relatively flat following the Federal Reserve’s announcement of a 50-basis-point interest rate cut. Bitcoin attempted to break through a key trend line, with a close above $61,500 potentially signaling a bullish continuation. Meanwhile, institutional interest in Bitcoin continues to grow, with ETFs buying more than 100% of newly mined BTC.
Steelcase Inc. (SCS) saw its stock price drop significantly after reporting its second-quarter financial results. Despite exceeding earnings expectations, the company missed revenue estimates and saw weakness in its international business, primarily driven by the Chinese market.
The Federal Reserve slashed interest rates by 50 basis points, a significant move, but Chair Jerome Powell’s subsequent remarks injected uncertainty into the markets. While initially celebrating the rate cut, investors were left wondering about the future path of monetary policy after Powell signaled a more cautious approach to future rate cuts. The market response was mixed, with some sectors rallying initially before losing momentum as Powell’s comments sunk in.
