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Rice Prices Surge as Thailand’s Drought Worsens

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9 years ago

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Thailand’s rice prices have hit a two-year high following anticipation of lower supply due to increasing drought conditions that have plagued Thailand this year. Honorary president of the Thai Rice Exporters Association, Chookiat Ophaswongse, stated, “Prices for all types of rice have risen.”

Prices have risen significantly even from last month’s prices, according to the association. Glutinous rice is up to US$900 a ton, up from US$867 last month. White rice prices have risen to US$424 a ton, up from US$397 in April.

Hom Mali rice prices have remained stable over the last month, at US$795 a ton. The free-on-board export price of Hom Mali rice and higher demand for the rice from China caused Thai farmers to shift much of their production to the staple. Demand for Hom Mali rose in Indonesia and Malaysia, too. The surge in demand for Hom Mali has caused domestic production for glutinous rice to drop.

Rice demand rises before the Ramadan holiday on June 6. The Islamic holiday lasts until July 5.

Lower global supply and drought are the main drivers behind rice’s growing prices, according to Chutima Bunyapraphasara, Commerce permanent secretary. The secretary expects the drought to be particularly hard on rice farmers in Vietnam and India, two major rice producers.

The lower supply level of rice has helped Thailand’s rice auctions be a success. The latest rice auction drew in a record number of…

The investor looking to invest in Real Estate in China ought to positively consider the financial and political background and legal frame offered by various publications. Nearly all the giant fund corporations have a fund that’s designed for publicity to the growth of Real Estate in China and other Asian countries.

Real estate in China is developed and managed by public, private, and state-owned red chip enterprises.

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Previously Unseen Photos of Joe and Hunter Biden in China Spark New Questions About Son’s Business Ventures for the President

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1 day ago

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December 30, 2024

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Previously unseen photos of Joe and Hunter Biden meeting with both Chinese President Xi Jinping and many of Hunter's business partners has put new heat on the troubled First Son

Unseen photos of Joe and Hunter Biden with Chinese leaders have intensified scrutiny on Hunter. Joe recently pardoned Hunter for past gun and tax fraud charges, igniting controversy over their business dealings.

New Photos Stir Controversy

Previously unseen photographs of Joe and Hunter Biden meeting with Chinese President Xi Jinping, along with Hunter’s business associates, have reignited scrutiny around the First Son. This visual evidence coincides with ongoing controversies surrounding Hunter’s business dealings following President Biden’s recent blanket pardon for his son on gun and tax fraud charges dating back to 2013.

Business Connections Revealed

The snapshots, sourced from the National Archives, depict Joe Biden engaging in discussions during his vice presidency, including introducing Hunter to prominent figures like then-vice president Li Yuanchao and business executives from BHR Partners. Hunter Biden, who co-founded the private equity firm BHR, has faced criticism concerning his financial ties to Chinese companies.

Biden’s Defense and Future Implications

In light of these revelations, the President has reiterated that he never engaged in business discussions with Hunter. However, the photos have fueled allegations previously brought forth during impeachment inquiries, prompting mixed reactions from political opponents and supporters. Hunter’s recent pardon, which extends to potential future charges, raises questions about the implications for his past dealings.

Source : Unseen pictures of Joe and Hunter Biden in China raise fresh questions for president about son’s businesses

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Nigeria and China Revive Currency Swap Agreement – Guardian Nigeria

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3 days ago

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December 28, 2024

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Nigeria and China have renewed their currency swap deal, enhancing economic cooperation and facilitating trade between the two nations, as reported by Guardian Nigeria.

Currency Swap Deal Renewed

Nigeria and China have officially renewed their currency swap agreement, which is vital for strengthening economic ties between the two nations. This deal is designed to enhance trade relations, making transactions more efficient and less vulnerable to fluctuations in foreign exchange markets.

Benefits for Both Nations

The renewed agreement allows both countries to conduct trade using their local currencies, thereby reducing dependence on the U.S. dollar. This initiative is expected to foster economic stability and boost bilateral trade, benefiting businesses on both sides significantly.

Future Prospects

As the agreement takes effect, it is anticipated that Nigeria will experience easier access to Chinese goods and investments. This partnership not only promises immediate economic advantages but also signals a long-term commitment to closer collaboration between Nigeria and China, paving the way for future developments in trade and infrastructure.

Source : Nigeria, China renew currency swap deal – Guardian Nigeria

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China Provides Clarification on the Implementation of Article 88 (1) of the New Company Law

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5 days ago

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December 26, 2024

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China’s Supreme People’s Court clarified that Article 88(1) of the New Company Law won’t apply retroactively, easing concerns for prior shareholders in equity transfers before July 1, 2024.

Clarification on Article 88(1) Non-Retroactivity

The Supreme People’s Court of China has clarified that Article 88(1) of the New Company Law will not retroactively apply to equity transfer disputes occurring before July 1, 2024. This announcement aims to address concerns from existing shareholders and resolve discrepancies in judicial decisions nationwide. Companies are advised to strengthen risk management practices for future equity transactions.

Judicial Guidance and Legal Framework

On December 24, 2024, the Supreme People’s Court issued a response reaffirming that disputes tied to equity transfers before the July 1, 2024, deadline will be governed by previous laws. This decision follows inconsistencies in judicial rulings regarding capital contributions, prompting a review by the Legislative Affairs Commission, which concluded that retroactive application was not justifiable.

Risk Management Strategies Moving Forward

Despite the ruling, equity transfers after July 1, 2024, may still attract supplemental liability under Article 88(1). To mitigate these risks, businesses should consider reducing registered capital, conducting thorough risk assessments, and implementing contractual safeguards to protect against potential liabilities.

Source : China Clarifies the Application of Article 88 (1) of the New Company Law

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