Luxury looks homeward as Covid curtails travelIt is the "upper middle class, the rich and ultra-rich untouched by the crisis" who could not travel and instead bought luxury goods, said Arnaud Cadart at FlornoyPARIS - The luxury sector has flashed back from the Covid-19 pandemic but the crisis is still putting a crimp in travel, a key part of the market. Industry giants have reported results that show the world's well-heeled are splurging on luxury goods as sales surpass even pre-pandemic levels. It is the "upper middle class, the rich and ultra-rich untouched by the crisis" who could not travel or eat out and instead bought luxury goods, said Arnaud Cadart at asset manager Flornoy. "There is a young generation in the United States that feels comfortable with luxury purchases," in particular among the African-American, Hispanic and Asian populations, he explained. The luxury market will nonetheless "remain dominated by local buyers for at least another year," Rambourg forecast.
Source:Bangkok Post
August 01, 2021 03:33 UTC
But if one thing can outweigh what happened to Lebanon that day, it is what hasn't happened since. Some who donated money to help blast victims a year ago now find themselves recipients of food and cash handouts. Once known as the "Switzerland of the Middle East", Lebanon now has all the trappings of a failed state. "I really see it now as a dystopia, it's the only word I have to describe Lebanon... Lebanon is rudderless, penniless and sleepless, but for both Rantisi and Hage, not completely hopeless.
Source:Bangkok Post
August 01, 2021 02:15 UTC
Heed climate warning signsEmerging a little over a year-and-half ago, Covid-19 has been a collective shock on the human psyche. It has redefined how we live and view the future and although the crisis was largely unexpected, the same can't be said of climate change. The signs of climate change entering a human existential level, one that affects humans and not just ice sheets in frigid regions, are beginning to take shape. The study will highlight how climate change is affecting our planet and offer solutions that will likely be brought up in Glasgow in November at the United Nations Climate Change Conference, or COP26 meet. But regardless of what happens at COP26 and what new promises are made, it's time we not only discuss climate change mitigation but also prioritise practices that highlight climate change adaption, especially cutting emissions.
Source:Bangkok Post
August 01, 2021 00:11 UTC
(Reuters photo)Thai boxers Chatchai-decha Butdee and Jutamas Jitpong face make-or-break quarter-final bouts at the Tokyo Games on Sunday. Under the National Sports Development's bonus scheme, an Olympic champion will get 12 million baht, a silver winner 7.2 million baht and a bronze medallist 4.8 million baht. Thailand Boxing Association (TBA) president Pichai Chunhavajira announced on Saturday Bangchak Corporation and its allies will give bonus to medal winning Thai boxers -- 10 million baht for gold, three million baht for silver and two million baht for bronze. Now, I'm quite confident and I will try my best to get an Olympic medal," she said. Both golds were won by weightlifters but Thais were banned from taking part in the sport in the Tokyo Games due to doping.
Source:Bangkok Post
July 31, 2021 23:26 UTC
Army chief Gen Narongpan Jittkaewtae, unhappy with coup rumours, files a complaint against a Facebook user on Saturday. Army spokesman Lt Gen Santipong Thampiya on Saturday said the coup rumour was aimed at inciting unrest and discrediting the army. In the complaint, the army accused a Facebook user named Nathapong Akkara of spreading the fake news, the sources said. Defence Ministry spokesman Lt Gen Kongcheep Tantrawanich condemned those who spread the coup rumour, saying this only worsened the crisis besetting the country. "Stop spreading fake news.
Source:Bangkok Post
July 31, 2021 23:26 UTC
Six months post-coup: 'We only have ourselves'Volunteers in protective suits carry a Covid-19 patient as they relocate patients from a flooded field hospital in the Karen state of Myawaddy in Myanmar during the week. These are among the survival skills that many people in Myanmar are using these days, six months after the February military coup. "Now I'm afraid of going outside and I dare not pick up calls from unknown people," said one schoolteacher who continues to stay away from her work with the government. THE PRESENT MOMENTBut it is the here and now that people live in -- and like the Covid-19 pandemic, an end to the crisis is not within sight. Even though I save money, not spending spend much money, I'm afraid that one day, I won't be able to make it."
Source:Bangkok Post
July 31, 2021 04:41 UTC
The second question came from a man who wanted a suggestion for mutual funds. "I want to help, but the questions were hard to properly answer," said Mr Chonladet. "The mutual fund market has huge growth potential compared with other Thai financial assets. The proliferation of smartphones and daily online activities are crucial factors to support mutual fund businesses in the long term, he said. Moreover, more than 60% of new accounts are millennials or people aged below 35 years, Mr Chonladet said.
Source:Bangkok Post
July 30, 2021 23:37 UTC
Crisis of faith is reaching a crescendoPrayut Chan-O-Cha gives his final speech in the run-up to 2019's general election which his Palang Pracharath Party won. Earlier this week, Gen Prayut expressed hope the pandemic will ease in 4-6 weeks with the vaccination campaign up and running more smoothly now. However, if Gen Prayut should become disheartened and decide to call it quits, here are some possible scenarios. Previously, Pheu Thai had enlisted Khunying Sudarat Keyuraphan and Chadchart Sittipunt, but both have since gone their own separate ways. In fact, Pheu Thai is particularly ready.
Source:Bangkok Post
July 30, 2021 23:26 UTC
Gag order not a solutionDES Minister Chaiwut Thanakhamanusorn at a press conference on the arrests of 18 social media users who allegedly disseminated fake news amid the Covid-19 crisis yesterday. Signed by Prime Minister Prayut Chan-o-cha, this new order issued in compliance with Section 9 of the Emergency Decree became effective yesterday. It is not the calling of a democratically elected government to gag the press to eradicate fake news. This media gag order has been used far too many times in Thailand; it has been popular among coup makers and autocratic governments desperately needing to navigate public opinion. The way to deal with misinformation and disinformation is not placing a gag order, but to have a cool head, open mind, good communication skills, and for this government especially, an insanely good PR team.
Source:Bangkok Post
July 30, 2021 23:26 UTC
Forward bookings for the Phuket sandbox in August are decelerating as cases of Covid-19 mount on the southern island province. As of July 29, 12,599 international travellers entered the Phuket sandbox scheme, with 30 visitors testing positive for Covid-19. Of the total, 192,403 room nights were reserved for this month, 98,735 room nights are in August, and 7,720 room nights are in September. There have not been any reports of early checkouts from guests in the Phuket sandbox. However, commercial flights carrying passengers to the Phuket sandbox can continue to operate.
Source:Bangkok Post
July 30, 2021 21:56 UTC
True denies reported interest in buying DTACA highly placed source at SET-listed True Corporation has rejected a media report suggesting it will acquire Total Access Communication (DTAC), the country's third largest mobile operator, from Norway-based telecom giant Telenor, insisting the story is baseless. "That's not true," the source told the Bangkok Post without further elaboration. According to the report, sources said True is understood to be holding discussions with Telenor regarding the potential acquisition of DTAC. The report indicated Telenor, which owns 65% of DTAC, is looking to exit the Thai market at a valuation of US$2 billion for its stake. These challenged our premise of how we can do business," Mr Brekke said.
Source:Bangkok Post
July 30, 2021 21:22 UTC
Big Tech booms even as lockdown living wanesPowerhouses Facebook, Apple, Microsoft and Google parent Alphabet all reported higher second-quarter 2021 revenues even as they face heightened scrutiny from antitrust regulators for their growing dominance of key economic sectors. SAN FRANCISCO: Big Tech goliaths like Facebook and Amazon unveiled whopping profits this week, showing their dominance in lockdown lifestyles is on course to grow well beyond the pandemic. Regulators' wary gazeAlphabet chief executive Sundar Pichai credited long-term investments in artificial intelligence and cloud computing as powering the internet giant's performance. Google's cloud computing business competes with powerhouses Amazon and Microsoft, poising them to vie for virtual terrain in an immersive online world. Microsoft this week reported a jump in profits in the recently ended quarter, keeping strong momentum from accelerated gains in cloud computing during the pandemic.
Source:Bangkok Post
July 30, 2021 01:41 UTC
Asoke junction along Sukhumvit Road, usually jammed with traffic, is dead as people work from home during the lockdown. However, the FPO expects the situation to improve in 2022 as the business sector gradually returns to normalcy, leading to economic expansion of 4-5%. That is weak considering it's a year-on-year comparison and in 2020 the Thai economy contracted 6.1%, the most in two decades. Total cases rose to 561,030, of which 95% have come since the latest wave began in April, official data show. "There's now increasing chatter the Thai economy will contract again this year," said Maria Lapiz, managing director of Maybank Kim Eng Securities Thailand.
Source:Bangkok Post
July 29, 2021 23:15 UTC
Michael Heath, Chargé d'Affaires of the US Embassy in Thailand, answered written questions, asking him about US support for Covid-19 vaccine distribution. The US is proud to donate 1.5 million safe and effective Pfizer vaccine doses to the people of Thailand. We have stood in solidarity with Thais by providing Covid-19 assistance since the start of the outbreak. In sharing Covid-19 vaccine doses, the US seeks to maximise and equitably share the number of vaccine doses available with the greatest number of countries. I'm proud to say that US and Thai health partners have been sharing lessons learned for over 60 years.
Source:Bangkok Post
July 29, 2021 23:03 UTC
With purple hues dancing and changing colour in the light, amethysts adorn the bezel and dial of the new Royal Oak Selfwinding Chronograph 38mm. The bezel has been set with an array of baguette-cut amethysts that perfectly match the tones of the purple dial, decorated with a Grande Tapisserie pattern. This is achieved thanks to a new colour treatment that consists of applying multiple layers of purple PVD to the dial. The tones range from pink to purple, passing by all the different nuances of blue, depending on the angle of the watch and the play of light. Likewise, the caseback has been finished with a sandblasted and satin-finished decoration and features a "Royal Oak" engraving.
Source:Bangkok Post
July 29, 2021 21:33 UTC