1) ADVANC reports 5% revenue growth in 2021
Advanced Info Service Pcl posted 4.9% year-on-year revenue growth to 181,333 million baht with a slight drop of earnings by 1.8% to 26,922 million baht in 2021 amid the ongoing coronavirus pandemic. Home broadband and enterprise business reported strong growth of 21% and 18%, respectively. In 2022, ADVANC also plans to allocate more than 30 to 35 billion baht of investment to uplift network quality and capture growth opportunities.
2) Meta may shut down Facebook and Instagram in Europe
Meta Platforms, Inc., formerly known as Facebook, Inc., said that it is considering shutting down Facebook and Instagram services in Europe if it can’t keep transferring user data back to the U.S.
Regulators in Europe are drawing up new legislation that will dictate how European users’ data gets transferred across the Atlantic.
3) Morgan Stanley expects a large amount of stimulus to be withdrawn soon
Morgan Stanley said that a record amount of stimulus is about to be withdrawn from the global economy.
Part of the withdrawal will come through monetary policy, added Morgan Stanley, saying the shift has two parts: reversing the lowest policy rates in history, and reversing the largest central bank bond purchases in history.
Morgan Stanley economists expected G4 central bank balance sheets to shrink by US$2 trillion from May 2022 to May 2023, which is four times the largest 12-month decline ever, from 2018-19.
4) JPMorgan expects the market to lift as overly bearish sentiment clears
JPMorgan expected the market to lift as overly bearish sentiment clears. Volatility is moderating in its view, while the financial firm expected strong equity inflows as well as corporate buybacks.
“We’re sympathetic to the idea that much of 2022’s volatility has simply been brought forward, suggesting spreads can tighten from current levels,” wrote JPMorgan in the analysis.