SWEETWATER, Texas, Feb. 20 (UPI) — FPL Energy, LLC and Texas State Technical College, West Texas, recently partnered to educate and train students in wind turbine technology. The two say the coordination is an effort to meet increased demand for skilled employees in the wind energy business in Texas and surrounding areas, Renewable Access reported. FPL Energy will give TSTC West Texas subject-matter experts and faculty adjuncts to help build the curriculum. In addition, the students...
Bank of Thailand to allow foreign investment hedge against forex fluctuations
April 18, 2007 on 6:42 pm | In Currency |
BANGKOK (XFN-ASIA) - The Bank of Thailand will allow foreign investors to hedge their investments against future currency fluctuations amid tough capital control measures in the country, the central bank said.
At the same time, the BoT also said it will not yet abolish a December ruling which mandates that 30 pct of all incoming investment must be held by financial institutions for up to one year.
That ruling was designed to curb the nation’s fast-rising currency.
“As of now we will not lift the 30 pct reserve requirement. We have to wait for a while until we are confident that the fully hedged funds can effectively stabilize the baht,” Nitaya Pibulratanakit, an assistant governor at the BoT, said.
The new rules will take effect on March 15, she added.
The BoT had indicated earlier that it would lift the remaining capital controls, which have been gradually eased since they were first introduced.
The controls had sparked the biggest one-day drop in the history of the Thai stock market after they were imposed in December.
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