Asia

China Property Crisis: Asia’s Richest Woman Loses Heavily

July 28, 2022 4:44 pm

The wealthiest woman in Asia, Yang Huiyan had reportedly lost more than half of her fortune in a heavy loss over the past year as China’s real estate and property sector was massively shaken by a cash crunch.

Yang Huiyan who has been a majority shareholder in Chinese property giant Country Garden, had also seen her net worth plunge by more than 52 percent to $11.3 billion from $23.7 billion a year ago, according to the Bloomberg Billionaires Index which vetted the report on Thursday.

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Yang’s fortune had taken …

Thailand Intensifies Efforts Towards Legalising Cannabis

June 10, 2022 4:23 am

Thailand on Thursday officially relaxed its cannabis laws a move which would see users gain permission henceforth to possess and grow the plant — albeit under complicated new guidelines.

The change is coming on the heel of Thailand’s landmark 2018 legalisation of medicinal cannabis — the first such move by a country in Southeast Asia, where anti-drugs laws are notoriously harsh.

The kingdom’s public health ministry announced in February that marijuana would be removed from its banned narcotics list, and the rules came into effect on Thursday.

Activists welcomed the development and Bangkok cannabis shop Highland Cafe was doing a …

Ramadan On Collision Course With Virus For Asia’s Muslims

April 21, 2020 6:38 pm

Across Asia, home to about half of the world’s Muslims, the coming Islamic holy month of Ramadan is on a collision course with the coronavirus pandemic as clerics call on the faithful to cram into mosques.

Authorities have tried to limit the fallout during the sacred period of fasting, which starts Thursday, but in many cases religious leaders have brushed aside concerns about activities that could spread COVID-19.

In Bangladesh, clerics lashed out at attempts to reduce the number of people going to mosques, and demanded the country’s secular government allow millions of Muslims to join daily and weekly prayers.…