Bangkok, Thailand – Tech giant Microsoft has unveiled plans to establish its first regional data center in Thailand, marking a significant milestone for the country’s technological landscape. The company’s decision to invest in a new cloud and AI infrastructure in Thailand reflects its commitment to fostering a cloud and AI-powered future for the nation. Additionally, Microsoft aims to provide AI skilling opportunities to over 100,000 individuals, contributing to the development of digital skills in the region.

The introduction of the data center region will enhance the availability of Microsoft’s hyperscale cloud services, offering enterprise-grade reliability, performance, and compliance with data residency and privacy standards. This move is poised to drive innovation, economic growth, and job creation in Thailand’s tech sector, positioning the country as a key player in the digital economy.

In a separate development, Japanese trading house Mitsui and Co. reported a slight decrease in its full-year profit for the 2023 financial year, ending on March 31. Despite the profit decline, Mitsui announced a 200 billion yen share buyback initiative, leading to a 1.23% increase in its share price. The company plans to repurchase up to 40 million shares, demonstrating its confidence in its long-term growth prospects.

Meanwhile, oil prices experienced a downward trend for the third consecutive day due to rising U.S. inventories and growing hopes for a ceasefire agreement in the Middle East. Brent contracts dropped to $85.57 per barrel, while U.S. West Texas Intermediate crude fell to $81.09 per barrel. The increase in U.S. crude oil inventories, as reported by the American Petroleum Institute, contributed to the decline in oil prices.

In South Korea, exports surged by 13.8% in April, surpassing economists’ expectations and marking a significant improvement from the previous month. The country’s trade balance narrowed to $1.53 billion, signaling a positive outlook for South Korea’s economy. Additionally, consumer sentiment in the U.S. experienced a decline in March, reaching its lowest level since mid-2022, primarily driven by concerns over employment and inflation.

The employment cost index rose by 1.2% in the first quarter, signaling increased compensation costs for workers and further highlighting ongoing inflation pressures. This development will be closely monitored by Federal Reserve officials as they assess the underlying factors influencing inflation levels in the economy.