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According to Hong Kong Stock Exchange filings, Xiaomi Group (01810.HK) repurchased 1.9 million Class B shares on September 10 for a total of HK$49.3 million.On September 10th, Geely Automobile Group and Volvo Cars officially reached a final agreement on their business cooperation plan for the Lynk & Co brand in the European market. According to the agreement, starting in January 2027, Volvo Cars will become the exclusive dealer of Lynk & Co in Europe, fully responsible for the brands commercial and brand operations in the region. This cooperation does not involve any changes to the equity structure, and Geely Automobile Group will continue to lead Lynk & Cos core businesses globally, including product design, R&D, compliance certification, and overall brand strategy.Piper Jaffray: Initiated coverage research on Intel (INTC.O) with a neutral rating and a target price of $110. Initiated coverage research on Qualcomm (QCOM.O) with a neutral rating and a target price of $190. Initiated coverage research on Nvidia (NVDA.O) with an overweight rating and a target price of $300.On September 10, 2026, Xuan Changneng, Vice Governor of the Peoples Bank of China, met with Liang Xinsong, Deputy Governor of the Monetary Authority of Singapore. The two sides exchanged views on the current economic and financial situation and Sino-Singaporean financial cooperation.The Central Bank of Türkiye stated that it will determine policy interest rates based on actual and expected inflation and its underlying trends.

Thai Energy Firm Gulf Concludes Investments in Binance.US and BNB

Cameron Murphy

Apr 20, 2022 09:43


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  • In Thailand, Gulf Energy Development and Binance have formed a joint venture.

  • Gulf has invested in Binance's US subsidiary and its flagship cryptocurrency, BNB.

  • In Thailand, the business will seek for a license to operate a digital asset exchange.


Gulf Energy Development PCL, owned by Thai billionaire Sarath Ratanavadi, has completed an investment in Binance's US branch and its hallmark cryptocurrency, BNB.


The move follows the announcement in January of a cooperation between the two companies to develop a digital asset market in Thailand. The partnership, according to Binance, is the "initial step" in investigating potential in Thailand. Despite this, the Thailand regulator has filed a criminal complaint against the exchange for operating without a license.

Investment To Deepen Crypto Market Involvement

Gulf disclosed its investment in Series Seed Preferred Stock issued by BAM Trading Services, which runs Binance, in a regulatory filing with the Thailand Stock Exchange on Monday. US.


"As a result, the Binance investment.


The United States not only allows the Company to participate in one of the world's quickest user scale-up exchanges, but it also offers the possibility of increased investment value after Binance.


IPO in the United States."


According to CEO Brian Shroder, Binance is planning an initial public offering (IPO) in two to three years. The cash will be used by Binance's US subsidiary to increase staff and product range, undertake ROI-based marketing campaigns, and make additional acquisitions ahead of its anticipated IPO, according to the filing.


Gulf also put money into Binance Coin (BNB), the native cryptocurrency that runs the BNB Chain ecosystem, for an unknown amount.


The business also announced a joint venture deal with Binance to establish a crypto exchange in Thailand, according to another regulatory filing.


"Following the formation of the joint venture, it will apply to appropriate authorities for a digital asset exchange license and other licenses."


Last week, Binance announced that it has gained primary permission from Abu Dhabi Global Market for its activities. Binance will be able to operate as a virtual assets broker-dealer as a result of the clearance, marking the company's third aggressive expansion in the Middle East after securing licenses in Bahrain and Dubai.


The joint venture, according to Gulf, would provide it greater opportunity to investigate the digital asset sector and expand the scope of its investments.

Thailand Crypto Tax

Thailand, however, prohibited cryptocurrency payments last month, citing price volatility, a lack of user safety, money laundering, and cyber-theft concerns as major factors in the decision.


Crypto firms would "not be authorized to promote or market crypto payments," according to the banking authority.


Following public criticism, the nation first planned a 15% tax on crypto assets, but eventually abandoned its proposals. However, when contrasted to India's 30% tax rate, this seems to be considerably less.

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