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Economics

Oil Levy Held to Bring Gasoline, Diesel Prices Down

The Energy Policy and Planning Office has approved a temporary cut in the contribution to the Oil Fund from gasoline and diesel sales, bringing down their prices. Energy Minister Pichai Nariptapan, as chairman of the Energy Policy and Planning Committee, said the panel has approved a temporary break in the contribution to the Oil Fund from the sales of gasoline 95 by 8.02 baht per liter, gasoline 91 at 7.17 baht per liter and diesel at three baht per liter. The measure takes effect tomorrow, thereby bringing the price of gasoline 95 down to 39.32 baht, gasoline 91 to 34.77 baht and diesel to 26.99 baht per liter.

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The Energy Policy and Planning Office has approved a temporary cut in the contribution to the Oil Fund from gasoline and diesel sales, bringing down their prices. Energy Minister Pichai Nariptapan, as chairman of the Energy Policy and Planning Committee, said the panel has approved a temporary break in the contribution to the Oil Fund from the sales of gasoline 95 by 8.02 baht per liter, gasoline 91 at 7.17 baht per liter and diesel at three baht per liter. The measure takes effect tomorrow, thereby bringing the price of gasoline 95 down to 39.32 baht, gasoline 91 to 34.77 baht and diesel to 26.99 baht per liter.

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Oil Levy Held to Bring Gasoline, Diesel Prices Down

At the end of 2009, real GDP was back at pre-crisis levels, as measured in seasonally adjusted terms.
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.

With economic pundits forecasting that Asian economies will lead global growth over the next few years, led by emerging giants China and India, it seems logical that investors will shift their funds to Thai and Asian equity markets in search of higher yields.
The TSRs for the two groups are similar.
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

China Dismantles Prominent Uyghur Business Landmark in Xinjiang – Shia Waves

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The Chinese government demolished the Rebiya Kadeer Trade Center in Xinjiang, affecting Uyghur culture and commerce, prompting criticism from activists amid concerns over cultural erasure and human rights violations.


Demolition of a Cultural Landmark

The Chinese government recently demolished the Rebiya Kadeer Trade Center in Urumqi, Xinjiang, a vital hub for Uyghur culture and commerce, as reported by VOA. This center, once inhabited by more than 800 predominantly Uyghur-owned businesses, has been deserted since 2009. Authorities forcibly ordered local business owners to vacate the premises before proceeding with the demolition, which took place without any public notice.

Condemnation from Activists

Uyghur rights activists have condemned this demolition, perceiving it as part of China’s broader strategy to undermine Uyghur identity and heritage. The event has sparked heightened international concern regarding China’s policies in Xinjiang, which have been characterized by allegations of mass detentions and cultural suppression, prompting claims of crimes against humanity.

Rebiya Kadeer’s Response

Rebiya Kadeer, the center’s namesake and a notable Uyghur rights advocate, criticized the demolition as a deliberate attempt to erase her legacy. Kadeer, who has been living in exile in the U.S. since her release from imprisonment in 2005, continues to advocate for Uyghur rights. She has expressed that her family members have suffered persecution due to her activism, while the Chinese government has yet to comment on the legal ramifications of the demolition.

Source : China Demolishes Uyghur Business Landmark in Xinjiang – Shia Waves

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Business

Yakult Unveils Restructuring Plans for Its China Operations | ESM Magazine

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Yakult reorganized its China operations, dissolving the Shanghai subsidiary while opening a new branch. Manufacturing now consolidates at Wuxi and Tianjin plants, aiming for enhanced efficiency and growth.


Yakult’s Business Reorganisation in China

Yakult has announced a significant reorganisation of its operations in China, aiming to enhance competitiveness and sustainability. The company has dissolved its wholly-owned subsidiary, Shanghai Yakult, which previously managed manufacturing and sales functions. This strategic move is expected to streamline its operations in the Chinese market.

New Branch and Manufacturing Adjustments

Yakult’s head office in China has established a new branch in Shanghai, transferring the sales division from Shanghai Yakult to this location. As of December 6, the branch has started selling various products, including Yakult and its light variants. Meanwhile, the manufacturing plant in Shanghai has ceased operations, with production capacity now absorbed by the Wuxi and Tianjin plants to ensure efficient supply.

Commitment to Growth

The company remains steadfast in its dedication to the Chinese market and is optimistic about future growth. Yakult reassured stakeholders that the reorganisation will have minimal financial impact and aims to enhance efficiency. Founded in 2005 in Shanghai, Yakult China currently employs approximately 2,216 individuals, reinforcing its commitment to customer health and expanding operations.

Source : Yakult Announces Reorganisation Of China Business | ESM Magazine

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Business

UAE-China Trade Set to Surpass $100 Billion This Year – Arabian Business

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UAE and China aim to surpass $100 billion in trade this year, highlighting their growing economic partnership and mutual interests in various sectors, as reported by Arabian Business.


UAE-China Trade Growth

The UAE and China are on track to see their trade surpass $100 billion in 2023. This significant milestone underscores the strengthening economic ties between the two nations. The robust growth is attributed to various sectors, including technology, agriculture, and logistics.

Bilateral Initiatives

In recent years, both countries have launched several initiatives aimed at enhancing bilateral trade. These efforts are designed to facilitate smoother cross-border transactions and promote investments. The UAE’s strategic location as a regional hub complements China’s expanding market reach, benefiting both economies.

Economic Impact

This burgeoning trade relationship is expected to create more job opportunities and stimulate economic growth in both countries. As the cooperation deepens, stakeholders anticipate additional advancements that will further solidify UAE-China ties in the global market.

Source : UAE and China trade to pass $100bn this year – Arabian Business

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