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HSBC, Bank of Nova Scotia Said to Bid for Thailand’s Siam City

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HSBC Holdings Plc, Bank of Nova Scotia and Hong Leong Bank Bhd. are among bidders for a stake in Siam City Bank Pcl, Thailand’s seventh-biggest lender by assets, four people familiar with the matter said.

Bank of Nova Scotia made the offer together with its local affiliate Thanachart Bank Pcl, which owns 4.9 percent of Siam City Bank, the people said, declining to be identified as the talks are private. Thailand’s central bank is seeking about $1 billion for its 47.6 percent stake, people with knowledge of the matter said last month.

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Thailand, wracked by violent political protests in the past two years, is easing restrictions on foreign ownership of banks to encourage investment and boost competition in the financial industry. Siam City Bank’s higher cost of funding puts it at a disadvantage to larger local rivals, said Anne Jirajariyavech, an analyst at JPMorgan Chase & Co. in Bangkok.

via HSBC, Bank of Nova Scotia Said to Bid for Thailand’s Siam City – Bloomberg.com.

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Thai Government Launches “Factory Sandbox” Scheme to Protect 3 Million Jobs

The plan will focus on plants which employ at least 500 people and will build confidence among both Thai and foreign investors at a time when supply chains in rival countries are shutting down.

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BANGKOK (NNT) – Thailand’s government has launched a pilot “Factory Sandbox” program to test, vaccinate and isolate factory workers, with the aim of limiting COVID-related disruptions to Thailand’s important export-driven manufacturing sector.

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The environmental case for remote working

Anyone searching for a silver lining to the pandemic should look to the clear, blue skies above them. A reduction in pollution worldwide has been an unintended benefit of the lockdowns and stay-in-place orders imposed to control the spread of COVID-19.

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During the pandemic, the environmental and societal benefits of working at home quickly became apparent. How can businesses protect these benefits in the future?

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