UPS exec sees supply chain disarray extending into 2022
"The logistics industry does not see 2022 as having any less disruption in supply chains than in 2021," Price told AFP in an interview. "Some of those costs are going away," said Price, who said 2022 shipping rates would be increased by 2.8 percent on average, well below the 10-year average. In 2021, UPS raised prices between 4.0 and 5.5 percent, depending on the market. Apparel company Lululemon Athletica said coronavirus restrictions forced closure of factories in Vietnam, which account for one-fifth its inventory. Price expects to hold UPS's price increases to the 2.8 percent level as more aspects of the supply chain normalize.
Source:Bangkok Post
September 13, 2021 01:52 UTC
12,583 new Covid cases, 132 deaths Monday
12,583 new Covid cases, 132 deaths MondayA health worker conducts a Covid-19 test on a baby in Klong Toey district, Bangkok, on Sunday. (Photo: Apichart Jinakul)Thailand logged 12,583 new Covid-19 cases and 132 more deaths during the previous 24 hours, the Public Health Ministry announced on Monday morning. On Sunday, 16,304 Covid-19 patients left hospitals after recovering from the coronavirus. Since April 1, when the third wave of Covid-19 began, Thailand has treated 1,365,893 Covid-19 patients, 1,220,732 of whom have recovered to date. Since the pandemic started early last year, there have been 1,394,756 Covid-19 cases, with 1,248,377 complete recoveries so far.
Source:Bangkok Post
September 13, 2021 01:41 UTC
Carrying on the legacy
Thana BoonlertLocated in front of the Chinatown Rama theatre in Bangkok, Ouan Pochana has sold guay jub (rolled rice noodle soup) for over 50 years. Famous for peppery clear broth, the dish is served with crispy pork belly, internals, egg, and small patonggo (fried dough). Adulwitch said his late father worked for an uncle who sold noodle soup in Yaowarat. Jae Jook has sold yentafo (pink noodle soup) in Samut Prakan's Paknam for over 30 years. Adulwitch Tangsupmanee inherited Ouan Pochana, which has served guay jub (rolled rice noodle soup) in Yaowarat for over 50 years.
Source:Bangkok Post
September 12, 2021 23:15 UTC
Exim Bank to sell B3bn of bad loans to asset manager
Exim Bank to sell B3bn of bad loans to asset managerExport-Import Bank of Thailand (Exim Bank) plans to sell 2.5-3 billion baht of non-performing loans (NPLs) to an asset management corporation to strengthen its financial status, says bank president Rak Vorrakitpokatorn. The Bank of Thailand also introduced measures to help banks provide debt relief and financial assistance to clients, said Mr Rak. Exim Bank is tackling the NPL problem by helping clients restructure debt to prevent them from being classified as NPLs. The cabinet recently approved Exim Bank increasing its capital by 4.2 billion baht to 17 billion. He said Exim Bank targets average annual loan growth of 11%, which should result in its outstanding loans growing to 213 billion baht by 2025.
Source:Bangkok Post
September 12, 2021 22:52 UTC
Export outlook remains bright
Some food manufacturers may face a shortage of raw materials, limiting their export capacity, he said. KEEP UP YOUR GUARDThe FTI stressed the need to protect the export sector against an outbreak as it is the main driver for Thailand's reeling economy. The most important tool to guard the export sector against Covid-19 is a faster public vaccination scheme, he said. The FTI is worried spread could eventually affect the export sector," he said. Real sector exports (excluding gold, oil-related products and weaponry) also continued to soar by 25.4% from July last year.
Source:Bangkok Post
September 12, 2021 22:52 UTC
More factories opting for automation
More factories opting for automationMs Duangjai says automation and robotic systems can save on production costs and increase competitiveness. The spread of the pandemic, economic difficulties and cheaper technology are likely to encourage industrial factories to apply more automation and robotic systems in their production. According to Duangjai Asawachintachit, secretary-general of the Board of Investment (BoI), automation and robotic systems can save on production costs and increase competitiveness for entrepreneurs. Promoted projects that upgrade to automation are eligible for an exemption on import duties for machinery and a three-year corporate income tax exemption on the revenue of existing projects. The corporate income tax exemption cannot exceed 50% of the investment capital, excluding the cost of land and working capital.
Source:Bangkok Post
September 12, 2021 22:52 UTC
KBTG turns to digital assets
Ruangroj Poonpol, KBTG Chairman and Kubix Chairman of the Board. Kasikorn Business-Technology Group (KBTG) is preparing to enter the digital asset market through Kubix Digital Asset, an initial coin offering (ICO) portal, with an aim to become the leader in the investment development sphere. Kubix strives to enhance confidence in the digital asset market by converting tangible assets with real-world value into tokens in order to decrease risks from volatility. In operating Kubix, KBTG seeks to utilise Kasikornbank's investment knowledge and experience, combining it with the company's strength in financial technology. KBTG also forged a partnership with the Stock Exchange of Thailand to establish the Thai Digital Asset Platform, working towards realising this ecosystem.
Source:Bangkok Post
September 12, 2021 22:52 UTC
Analyst urges Thai national blueprint
"A national strategy to tackle changing technologies, geopolitics, global warming, health and economic inequality is essential," he said. According to Mr Somjai, China is challenging Taiwan and Japan in building power in the South China Sea. Mr Somjai said other important issues include health and economic inequality, as well as rapid assistance for small and medium-sized enterprises (SMEs). "The government and private sector must cooperate more closely to cope with the changing economic structure. According to Mr Somjai, despite these myriad challenges, the Thai economy is expected to manage growth this year after a 6.1% contraction last year.
Source:Bangkok Post
September 12, 2021 22:52 UTC
The self-made Chinese billionaire battling to save debt-mired Evergrande
"China's property developers -– and their creditors –- appear to be approaching a reckoning," said analysts at Capital Economics in a note. They warned Evergrande is "close to collapse" with large losses looming for banks, bondholders and home buyers. Total liabilities had swelled to 1.97 trillion yuan (US$305 billion), the embattled group said last week, warning of the risk of default. Evergrande threw itself into mass development, building in-demand apartments across China and capitalising on its rapid wealth accumulation. In 2010, Xu bought the then-embattled Guangzhou football team, renaming it Guangzhou Evergrande and pouring money into world-class players and coaches.
Source:Bangkok Post
September 12, 2021 03:22 UTC
Majority believe Prayut likely serving his last term as PM: poll
Majority believe Prayut likely serving his last term as PM: pollA Nida poll released on Sunday shows most believe this will likely be the last term for Prime Minister Prayut Chan-o-cha. (Bangkok Post file photo)A majority of people believe Gen Prayut Chan-o-cha's current term as prime minister is probably his last, according to the result of an opinion survey conducted by National Institute of Development Administration, or Nida Poll. Asked about the possibility of Gen Prayut being left out as prime minister when the next government is formed, a large majority -- 52.59% -- said this was possible, with 32.06% saying this was very likely and 30.53% fairly likely. On the other side, 13.51% said this was fairly likely and 4.66% very likely. Asked whether they thought the three generals -- Prayut, Prawit and Anupong -- would still have a role in the formation of the government after the next election, a majority -- 60.16% -- said this was likely and 35.49% unlikely.
Source:Bangkok Post
September 12, 2021 03:22 UTC
Pope Francis meets Viktor Orban in worldview clash
Pope Francis meets Viktor Orban in worldview clashPope Francis boards a plane as he departs for Budapest and Slovakia at Rome’s Fiumicino international airport. BUDAPEST: Pope Francis arrives in Budapest on Sunday morning to celebrate a mass, with eyes focused on his meeting with the anti-migration Hungarian Prime Minister Viktor Orban. On the other, Pope Francis, who urges help for the marginalised and those of all religions fleeing war and poverty. "Pope Francis wants to humiliate Hungary by only staying a few hours," said a pro-Orban television pundit. It is the first papal trip to Hungary since Pope John Paul II in 1996.
Source:Bangkok Post
September 12, 2021 03:11 UTC
The foreign legion of YouTubers defending China
The foreign legion of YouTubers defending ChinaVlogger Jason Lightfoot regularly posts about Western 'lies' against China. Their backgrounds are often in fields unrelated to current affairs or politics, while their videos blend footage of everyday life with passionate commentaries defending China. His videos have featured tours sponsored by the government-run China Radio International, where he interviews other YouTubers about criticisms of China and explores rural development projects. It is difficult to quantify the influence of the YouTubers outside China, with many of their commenters claiming to be grateful Chinese. While researchers have said China uses fake accounts and "bots" to manipulate online traffic, AFP did not find proof that the YouTubers were part of this effort.
Source:Bangkok Post
September 12, 2021 02:48 UTC
14 Myanmar nationals arrested on Malaysian border
14 Myanmar nationals arrested on Malaysian borderSecurity authorities keep an eye on Myanmar nationals arrested on Saturday on the Thai border in Sadao district of Songkhla. (Photo: Assawin Pakkawan)SONGKHLA: Fourteen Myanmar nationals were arrested on Saturday on the Thai side of the border opposite Malaysia's Kedah State in Sadao district, police said. Found in the pick-up were seven Myanmar migrants -- four men and three women. At the border, the authorities found another seven Myanmar migrants -- five men and two women -- hiding in the bush, waiting to be taken across the border. The 14 migrants said they had earlier travelled in taxis from Ang Thong province to Na Mom district in Songkhla.
Source:Bangkok Post
September 12, 2021 02:38 UTC
14,029 new Covid cases, 180 more deaths
14,029 new Covid cases, 180 more deathsTwo women take a stroll through Lumpini Park, normally one of Bangkok's most popular, following the easing of Covid-19 restrictions. (Photo: Apichart Jinakul)Thailand logged 14,029 new Covid-19 cases and 180 more fatalities during the previous 24 hours, the Public Health Ministry announced on Sunday morning. Since April 1, when the third wave of Covid-19 began, Thailand has treated 1,353,310 Covid-19 patients, 1,204,428 of whom have recovered to date. Since the pandemic started early last year, there have been 1,382,173 Covid-19 cases, with 1,232,073 complete recoveries so far. The United States had the most cases at 41 million, up 72,203, and the most deaths at 677,737, up 719.
Source:Bangkok Post
September 12, 2021 02:15 UTC
Tunisia's president says necessary to amend constitution
Tunisia's president says necessary to amend constitutionTunisian President Kais Saied has announced plans to amend the constitution and form a new governmentTUNIS - Tunisian President Kais Saied has announced plans to amend the constitution and form a new government months after he dismissed the prime minister and suspended parliament in moves his critics called a coup. Saied also said it was necessary to change the constitution. "The Tunisian people rejected the constitution," he said, while adding that the charter is "not eternal". Elected in late 2019, the legal theorist and former law professor has billed himself as the ultimate interpreter of the constitution. Saied has yet to appoint a new government or reveal a roadmap towards normality, despite repeated demands by political parties.
Source:Bangkok Post
September 12, 2021 02:15 UTC