Business
Democrat Leader Pledges to Raise Public Income
The Democrat leader pledges to increase people’s income if his party returns to power after the July 3 election. Democrat Party leader Abhisit Vejjajiva, deputy leader Korn Chatikavanij and director of the party’s Election Coordinating Center, Apirak Kosayodhin, introduced the party’s economic policies during a seminar titled Moving Thailand Forward at the Queen Sirikit National Convention Center. Abhisit said the country’s economy got stuck in the doldrums and all economic indicators were in the negative when he took office, so his government decided to pump more cash into the system through the handout of the 2,000-baht check to workers whose monthly salary was less than 15,000 baht.
The Democrat leader pledges to increase people’s income if his party returns to power after the July 3 election. Democrat Party leader Abhisit Vejjajiva, deputy leader Korn Chatikavanij and director of the party’s Election Coordinating Center, Apirak Kosayodhin, introduced the party’s economic policies during a seminar titled Moving Thailand Forward at the Queen Sirikit National Convention Center. Abhisit said the country’s economy got stuck in the doldrums and all economic indicators were in the negative when he took office, so his government decided to pump more cash into the system through the handout of the 2,000-baht check to workers whose monthly salary was less than 15,000 baht.
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Democrat Leader Pledges to Raise Public Income
On the demand side, the importance of external demand can be fully appreciated by recognizing that the bulk of inventories in Thailand are primarily inputs and finished goods for the export-oriented manufacturing. In the fourth quarter of 2009, for example, net exports and the change in inventories contributed 44 percent of the quarterly growth.
While the Thai government is aware of the need for these reforms, political uncertainties have made it more challenging to pursue them
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.
But for the smaller companies, you see much greater volatility in returns,’’ he said, adding that smaller firms on the SET with market cap below $200 million offer 40% to 60% lower long-term TSRs compared with their larger brethren.
In 1972 the Government took a further step in this direction by amending the “Announcement of the Executive Council No. 58 on the Control of Commercial Undertakings Affecting Public Safety and Welfare”. The changes extended Government control and regulation over the operations of finance and securities companies, which until then had operated fairly freely. Following these amendments, in May 1974, long-awaited legislation establishing “The Securities Exchange of Thailand” (SET) was enacted. This was followed by revisions to the Revenue Code at the end of the year, allowing the investment of savings in the capital market. By 1975 the basic legislative framework was in place and on April 30, 1975, “The Securities Exchange of Thailand” officially started trading. On January 1, 1991 its name was formally changed to “The Stock Exchange of Thailand” (SET).
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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- News Update: China’s Stimulus Falls Short; Sensex and Nifty Decline; Bitcoin Surges Over $82,000
- China’s Import-Export Trends 2024-25: A Thorough Analysis of the Initial 10 Months
- Henry Keswick: The Jardine Scion Who Transformed China’s Business Landscape
- China’s government is about to spend big on stimulus – can it turn around the country’s sluggish economy?
