Business
Festival of Love Celebrated throughout Thailand
On the very day that the whole world is wishing each other lots of love and eternity, the people of Thailand have also jumped into the Valentine’s Day bandwagon to enjoy the spirit of love floating in the air. Today, 30 couples have braved through the cold air of the morning on Khao Panoen Thung at Kaeng Krachan National Park in Petchaburi Province. They were there to have their marriage certificates registered on Valentine’s Day, the event that was witnessed by Petchaburi Governor Chai Panichpornpan.
On the very day that the whole world is wishing each other lots of love and eternity, the people of Thailand have also jumped into the Valentine’s Day bandwagon to enjoy the spirit of love floating in the air. Today, 30 couples have braved through the cold air of the morning on Khao Panoen Thung at Kaeng Krachan National Park in Petchaburi Province. They were there to have their marriage certificates registered on Valentine’s Day, the event that was witnessed by Petchaburi Governor Chai Panichpornpan.
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Festival of Love Celebrated throughout Thailand
A severe drought and a decline in rice prices in early 2010 do not bode well for agricultural production and consumption, although increased employment in manufacturing will partly offset the impact to agriculture.
Overall, domestic demand should provide a positive but limited contribution to growth: vulnerable households lost ground in 2009 and risks are substantial in 2010, as falling agricultural output due to the current drought may offset opportunities from the improved overall economic environment. Household consumption levels, which are highly correlated with the poverty rate, contracted in 2009 despite the rebound in the last quarter of the year, suggesting a likely increase in the poverty rate compared to 2008, especially when compounded by the loss in purchasing power from the food and fuel crisis of 2008. The outlook for 2010 is uncertain : average wages are likely to increase, thanks to the reallocation of labor from agriculture to manufacturing. Although labor markets appear very tight, with unemployment below 1 %, the data do not account for the large number of workers who moved to lower-productivity jobs in agriculture and informal services due to the crisis. Many of these workers are now returning to manufacturing, which offers higher wages than agriculture.
Alexander Wood, a founding partner of AWR Lloyd, believes the global crisis has acted as a catalyst for a fundamental, structural change in the global capital markets. The real new players in the markets are the sovereign wealth funds.
Low market valuations represent a problem on the demand side as well. Despite efforts to educate the public about the capital market, Thailand’s investor base remains small with only about 500,000 accounts in the securities sector out of a population of 67 million.
Introduction The modern Thai Capital Market traces its origins back to the early 1960s. In 1961 Thailand implemented its first five-year National Economic and Social Development Plan to support the promotion of economic growth and stability as well as to develop the Kingdom’s standard of living. Following upon this, the Second National Economic and Social Development Plan (1967-1971) then proposed for the first time that an orderly securities market be established in order to mobilize additional capital for national economic development.
The creation of Thailand’s first officially sanctioned and regulated securities market was initially proposed as part of the Second National Economic and Social Development Plan (1967-1971). In outlining its proposal for the creation of a supervised securities market, the Second National Development Plan stressed that the market’s most important role would be to mobilize funds to support Thailand’s industrialization and economic development.
Business
News Update: China’s Stimulus Falls Short; Sensex and Nifty Decline; Bitcoin Surges Over $82,000
Asian markets showed mixed trends amid China’s stimulus measures and disappointing inflation data. Meanwhile, Indian equities remained stable, with mutual fund inflows rising. Bitcoin surged following Trump’s presidential win.
Business Hook Daily News Podcast
Good evening! Welcome to Business Hook’s daily news podcast. I’m Avni Raja, and today is November 11, 2024. Let’s dive into the day’s top business stories.
Market Reactions and Economic Data
Asian markets experienced a mixed session as investors digested new economic data and stimulus measures from China. The Chinese government announced a $1.4 trillion package targeting local government debt, although analysts deemed it underwhelming. October’s inflation rate of 0.3% fell short of estimates and declined for the second month in a row. As a result, the CSI 300 saw a slight gain, while Hong Kong’s Hang Seng dropped over 1.5%. In India, the Sensex closed below 74,500, and the Nifty ended above 24,100, with a majority of Nifty stocks declining.
Mutual Fund Inflows and Upcoming IPOs
There’s encouraging news in the mutual fund sector, with October seeing net inflows of 2.4 lakh crore rupees, reversing the previous month’s outflows. Record equity inflows have risen to nearly 42,000 crore rupees, reflecting robust domestic investor confidence. In the IPO space, LG Electronics prepares to raise $1.5 billion by listing its Indian arm, with banks like Axis Capital involved in the process, potentially leading to an IPO as early as 2025.
Cryptocurrency Surge
In cryptocurrency news, Bitcoin has achieved new highs, surpassing $82,000. This surge is attributed to Donald Trump’s recent presidential victory, which has favored cryptocurrencies compared to more cautious Democratic approaches. Experts speculate that Bitcoin could surpass $90,000 soon. That’s all for today’s wrap-up. Join us again tomorrow, and check out the Business Hook YouTube channel for more updates.
Source : News Wrap | China Stimulus Disappoints; Sensex & Nifty Slip; Bitcoin Soars Past $82,000
Business
Henry Keswick: The Jardine Scion Who Transformed China’s Business Landscape
Henry Keswick, 86, a key figure in Jardine Matheson, passed away as the U.S. awaited election results, amid heightened tensions in U.S.-China relations during Trump’s presidency.
Henry Keswick’s Legacy
HONG KONG — The world turned its attention to the U.S. presidential election as news broke of Henry Keswick’s passing at the age of 86. A fourth-generation member of the British conglomerate Jardine Matheson, Keswick had a profound influence on the company, which has deep roots in Asia.
Navigating Challenges
Keswick’s leadership spanned significant challenges, including a strained relationship between the U.S. and China, particularly as Donald Trump prepared for his return to the White House. Under his stewardship, Jardine Matheson navigated a complex landscape in retail and real estate that dovetailed with geopolitical shifts.
A Lasting Impact
His contributions to Jardine Matheson and the broader business community have left an indelible mark. As companies reposition themselves amidst evolving international dynamics, Keswick’s legacy will undoubtedly continue to shape the future of the conglomerate he led.
Source : Henry Keswick, the Jardines scion who razed then restored China business
Business
Faurecia Relocates Electronics Headquarters from Japan to China – Automotive News
Faurecia relocates its electronics business headquarters from Japan to China, signaling a strategic shift to enhance operational efficiency and strengthen its presence in the growing Chinese automotive market.
Faurecia’s Strategic Shift
Faurecia has announced the relocation of its electronics business headquarters from Japan to China. This move is aimed at enhancing the company’s presence in a rapidly growing market for automotive technologies. By shifting its base, Faurecia intends to optimize operations and better serve its clientele across Asia.
Strengthening Market Position
The decision is part of Faurecia’s strategy to consolidate its resources in regions where electric and hybrid vehicle demand is soaring. As China leads the global automotive market in innovative technologies, the relocation will allow Faurecia to align its efforts with industry trends and consumer needs.
Future Aspirations
With this strategic shift, Faurecia aims to drive innovation and expand its production capabilities in China. The company expects this decision to create new growth opportunities and help solidify its competitive edge in the evolving automotive landscape.
Source : Faurecia moves headquarters of electronics business from Japan to China – Automotive News
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- Henry Keswick: The Jardine Scion Who Transformed China’s Business Landscape
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