business

All posts tagged business

Indorama Ventures completes acquisition of Sinterama

Published November 21, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30378548?utm_source=category&utm_medium=internal_referral

Indorama Ventures completes acquisition of Sinterama

Nov 20. 2019

Indorama Ventures chief executive Aloke Lohia

Indorama Ventures chief executive Aloke Lohia
By THE NATION1,351 Viewed
Indorama Ventures Public Company Limited (IVL), a global chemical producer, has successfully completed the acquisition of Sinterama S.p.A, a leading manufacturer of polyester automotive interiors and high performance coloured yarns manufacturer, the company announced today.

This acquisition elevates IVL’s capacity to deliver comprehensive and innovative solutions in highly specialised applications including coloured polyester yarns for the automotive, furnishing, apparel and technical applications.

The combination of IVL’s existing manufacturing capabilities and supply chain with Sinterama’s industry-leading portfolio gives IVL added momentum to serve the increasing demand for automotive and home applications.

Sinterama has approximately 890 employees working at five production sites in four countries in Italy, Brazil, China and Bulgaria, which is a new market for IVL.

Sinterama holds leading positions in highly specialised applications in Europe, with an excellent reputation and proven technology. Its expertise and network of strategically located facilities will be integrated into IVL’s existing specialities business, thereby creating the industry partner of choice for high-value polyester yarns.

“We are pleased to complete this acquisition and excited to welcome our new colleagues to the IVL family. The addition of Sinterama bolsters our leadership position and further differentiating our portfolio to ensure that we are well-positioned to support customers today and into the future. We look forward to delivering on the opportunities that this acquisition provides, and building our journey of growth together,” said Indorama Ventures chief executive Aloke Lohia.

Ratch Group moves into IoT business with purchase of stake in Things on Net

Published November 21, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30378547?utm_source=category&utm_medium=internal_referral

Ratch Group moves into IoT business with purchase of stake in Things on Net

Nov 20. 2019
By THE NATION

1,418 Viewed

Ratch Group (RATCH) has acquired a 35-per-cent stake of Things on Net Company Limited with an investment of Bt180 million.

It paves the way for Ratch to penetrate the Internet of Things (IoT) business, which is regarded as a fundamental technology for driving the digital economy according to Thailand 4.0 policy, and also provides huge potential for investment.

Kijja Sripatthangkura, chief executive of Ratch, says the acquisition marks the next chapter of Ratch in the expansion of its infrastructure business and is in line with the strategic business plan, which targets no less than 20 per cent of total investment in infrastructure and related businesses.

This joint venture gives the company the right to jointly participate in Things on Net’s telecommunication network installation and development project, and IoT services in Thailand.

In 2020, Things on Net aims to its expand base station to cover 70 per cent of the country and increase users of the Sigfox’s IoT technology network to 85 per cent of the nation’s population.

“Ratch is pleased to partner with Things on Net, which marks our move into the IoT network business. We see the IoT business as a perfect complement to our energy and power-related business as well as our fiber optic cable network,” Kijja said.

The IoT business also offers plenty of opportunities due to the high demands of industrial sector for enhanced production efficiency and better cost and supply chain management in order to increase competitiveness and reduce the risk of technology disruption.

Things on Net Company Limited is the Thailand sole operator of the Sigfox network, which is a technology of connectivity through Low Power Wide Area Network (LPWAN). Sigfox network currently provide its coverage network service to more than 50 countries globally.

Stocks drop on worry over trade deal’s timing

Published November 21, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30378574?utm_source=category&utm_medium=internal_referral

Stocks drop on worry over trade deal’s timing

Nov 21. 2019
By Syndication Washington Post,Bloomberg · Sarah Ponczek, Claire Ballentine

497 Viewed

The S&P 500 index posted its biggest loss in a month after a report that Washington and Beijing are unlikely to reach a trade deal this year. The dollar rose and oil jumped.

Telecom companies and automakers led losses on the gauge after Reuters said that a pact may be delayed, though the index pared losses following a report that progress is being made. The developments came after China threatened to retaliate for the Senate’s passage of a bill that sought to support Hong Kong’s autonomy from Beijing. The House votes on the measure later Wednesday.

After reaching fresh highs Monday, U.S. stocks have retreated on concern about the outlook for trade. While investors are sensitive to any reports on the economy, the potential of a detente between China and the U.S. had driven gains this year that left stocks poised for their best performance since 2013.

“The market for most of the year has been trading off of trade — trade hope and trade fear,” said Ed Clissold, chief U.S. strategist at Ned Davis Research Inc. “There were expectations over the last several weeks that some sort of interim deal would get done. And the reality of the situation is setting in.”

Oil jumped, paring Tuesday’s more-than 3% loss, as American crude stockpiles rose less than expected and inventories at a key storage hub shrank by the most since August. Ten-year Treasury yields sank to a two-week low.

Travel and leisure companies led the retreat in the Stoxx Europe 600 index. Swedbank AB dropped after a report that American authorities are investigating possible breaches of sanctions against Russia by the Swedish lender.

Hong Kong shares fell along with Japanese and South Korean benchmarks. Australian equities slumped after allegations of financial crimes at Westpac Banking Corp. hit financial stocks.

Here are some key events coming up this week:

–U.S. economic indicators due for release include initial jobless claims on Thursday.

–Federal Reserve speakers this week include district bank presidents Loretta Mester and Neel Kashkari.

–European central bankers speaking this week include European Central Bank President Christine Lagarde, Bundesbank chief Jens Weidmann, along with Yves Mersch, Luis de Guindos, Pablo Hernandez de Cos and Philip Lane.

These are the main moves in markets:

Stocks

–The S&P 500 index fell 0.4% at the close of trading in New York.

–The Stoxx Europe 600 index dropped 0.4%.

–The MSCI Emerging Markets index fell 0.5%.

Currencies

–The Bloomberg Dollar Spot index gained 0.2%.

–The euro fell 0.1% to $1.1072.

–The British pound decreased 0.1% to $1.2918.

–The Japanese yen was little changed at 108.58 per dollar.

Bonds

–The yield on 10-year Treasuries sank five basis points to 1.73%.

–Germany’s 10-year yield dipped one basis point to -0.35%.

–Britain’s 10-year yield was little changed at 0.73%.

–Japan’s 10-year yield sank three basis points to -0.124%.

Commodities

–West Texas Intermediate crude increased 3.4% to $57.11 a barrel.

–Gold was little changed at $1,472.34 an ounce.

Uttama upbeat on EEC investments

Published November 21, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30378562?utm_source=category&utm_medium=internal_referral

Uttama upbeat on EEC investments

Nov 21. 2019
By THE NATION

901 Viewed

Finance Minister Uttama Savanayana is confident that more local and foreign companies will invest in the Eastern Economic Corridor (EEC).

The government has been developing infrastructure and preparing legal groundworks to facilitate investments, he said yesterday (November 20) at a seminar on EEC, hosted by Krungthep Turakit newspaper.

Kanit Sangsubhan, secretary general of Eastern Economic Corridor Office of Thailand, said the PTT group planned to invest Bt200 billion in the EEC during next five years with PTT Global Chemical (PTTGC) putting up half of the investment.

Kanit said investments were coming in at this stage of EEC development and  the office would ensure harmony between industry growth and local communities living within the zone.

It also gave importance to environment protection, targeting to eliminate accumulated waste in the area within 12 years.

The EEC project covers the three eastern provinces of Chachoengsao, Chonburi and Rayong.

AOT nods to second terminal at Suvarnabhumi Airport

Published November 21, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30378563?utm_source=category&utm_medium=internal_referral

AOT nods to second terminal at Suvarnabhumi Airport

Nov 21. 2019
By THE NATION

1,074 Viewed

The Airports of Thailand (AOT) board yesterday (November 20) approved a plan to establish a second terminal on the northern part of Suvarnabhumi Airport.

The board also nodded to a 50 per cent discount in landing fee for international charter flights at six airports under the AOT for a period of five months.

The discount measure will run from December 1 this year to April 30 next year as part of an AOT strategy to boost tourism in the short term.

AOT has 6 international airports under its management: Don Mueang, Phuket, Chiang Mai, Hat Yai, Chiang Rai and Suvarnabhumi.

The agency would submit plan for the second terminal to the Transport Ministry soon, said AOT president Nitinai Sirismatthakarn.

Construction cost of the new terminal is estimated at Bt42 billion. It is expected to become operational in 2023 or 2024, to help ease passenger traffic at the airport.

The new terminal will be able to serve a maximum of 40 million passengers a year. Once opened, the airport will be able to serve a total of 82 million passengers annually.

The AOT board meeting yesterday also approved the fifth master plan for Suvarnabhumi Airport, focusing on its role in connectivity of the three international airports with the Eastern Economic Corridor.

Amazon to open cashierless supermarkets next year

Published November 21, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30378566?utm_source=category&utm_medium=internal_referral

Amazon to open cashierless supermarkets next year

Nov 21. 2019
The new Amazon Go grocery store in Seattle is adjacent to Amazon's headquarters. CREDIT: Bloomberg photo by David Ryder
Photo by: David Ryder — Bloomberg

The new Amazon Go grocery store in Seattle is adjacent to Amazon’s headquarters. CREDIT: Bloomberg photo by David Ryder Photo by: David Ryder — Bloomberg
By Syndication Washington Post,Bloomberg · Matt Day · BUSINESS ·

1,068 Viewed

Amazon.com is preparing to open Amazon Go supermarkets and pop-up stores, an expansion of the company’s cashierless ambitions that includes the possibility of licensing the technology to other retailers.

The new store formats and licensing initiative could launch as soon as the first quarter of 2020, according to a person familiar with the project. Amazon is testing a supermarket equipped with Go technology in a 10,400-square-foot retail space in Seattle’s Capitol Hill neighborhood.

The Go expansion is the e-commerce giant’s latest attempt to compete in the $900 billion U.S. grocery industry and perhaps other areas of retail, as well. The company already operates the Whole Foods Market chain and last week confirmed plans to launch a separate supermarket brand, starting with a location in the upscale Woodland Hills neighborhood of Los Angeles. Those stores will have human cashiers. The previously unreported plan to expand Go revives Amazon’s original vision of creating full-size grocery stores without checkout lines.

Amazon opened the first Go convenience store at its Seattle headquarters almost two years ago and now operates 21 locations around the U.S. It’s not clear how much money the company has lavished on the project, but some of the 1,000 or so people working on it were recently told their cumulative salaries have totaled more than $1 billion since the project got underway in 2012, the person said.

Customers have praised the Go stores as technical marvels. But retail analysts have wondered whether the low margins at a typical corner store chain would offset the costs of the Go technology, a complicated array of cameras and software that figures out what shoppers have grabbed and automatically charges them when they exit.

The Go team, which recently folded previously separate hardware groups and engineering support staff into a new entity called Physical Retail Technologies, has spent the past two years streamlining the technology. The efforts were aimed at making the existing Amazon Go stores more profitable and the guts of the system cheap enough to entice other retailers, said the person, who requested anonymity to discuss an internal project.

Amazon declined to comment.

People familiar with the program estimate that Amazon spent millions of dollars on the cameras, networking gear and servers in the first store alone. Newer versions of Go’s hardware feature fewer backroom servers and more efficient cameras, software and networking capabilities, substantially cutting the cost of setting up a new store, the person said.

Amazon had originally envisioned a larger Go supermarket before abandoning the concept in favor of simpler, smaller convenience stores. Most Go locations are close to 2,000 square feet and stock grab-and-go staples-cold drinks, packaged sandwiches, salads-and a smaller selection of such household items as cold medicine and phone chargers.

Now, having improved the technology, the company is getting closer to its original ambition. Amazon aims to support stores as large as 30,000 square feet, the size of a typical modern supermarket. At the Capitol Hill space in Seattle, engineers are stress-testing the camera arrays with large groups of people, the person said. (Amazon confirmed to technology news site GeekWire last month that the Go team was running tests at the site.)

The Go teams are also working on a sort of pop-up kiosk, a self-contained, miniature version of an Amazon Go, designed for faster setup than equipping leased retail space with all of Go’s hardware. Potential users include malls and sports stadiums, the person said.

CNBC, which reported in September that Amazon was exploring licensing the technology behind Go, said the company had held talks with airport concessions operator OTG’s CIBO Express brand, and Cineworld Group PLC’s Regal movie theater chain.

The person said both chains were prospective customers. OTG declined to comment. Regal didn’t respond to requests for comment.

Amazon hasn’t settled on a licensing business model. Options under consideration vary by industry and include charging an upfront fee for use of the system or a percentage of total sales of a Go-equipped store, the person said.

Amazon is famous for trying many things out-including separate supermarket chains with and without cashiers-so some analysts have viewed Amazon Go as an expensive retail experiment. Now it’s clearer that Amazon is serious about mainstreaming the technology.

“The big question isn’t will the tech work-Amazon will make it work,” says Brendan Witcher, who tracks retail and consumer behavior at Forrester Research. “The question will be, ‘Will it work for a consumer, will they see this way of shopping as valuable?'”

Uttama signals launch of new stimulus measures

Published November 21, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30378558?utm_source=category&utm_medium=internal_referral

Uttama signals launch of new stimulus measures

Nov 20. 2019
Finance Minister Uttama Savanayana

Finance Minister Uttama Savanayana
By THE NATION

1,624 Viewed

Finance Minister Uttama Savanayana said today (November 20) that the government may launch additional measures to help lift the economy before 2020.

“The ministry is monitoring the economic situations. It’s possible that we’ll launch additional economic stimulus measures,” he said, adding that the new measures would support all sectors, including SMEs, and boost local consumption.

On November 19, Prime Minister Prayut Chan-o-chaurged the Council of Economic Ministers to prioritise solving the problems of grassroot people.

He said the ministers would have to solve economic problems for people at all levels of society, especially low-income earners. The premier expressed his concern after a briefing by the National Economic and Social Development Council onthe economic situation in the third quarter.

In a related matter, the Thai Industries Sentiment Index in October slid to 91.2 from 92.1 in September, hitting the lowest point in 17 months since last June.

The drop was partly attributed to SMEs’difficulty in accessing funds as banks have been more prudent in lending, coupling with the strengthening baht and the prolonged US-China trade war.

A positive factor in October was that businesses were receiving more orders form foreign customers for New Year-related products, especially fashion and food items.

Bond market growth steady amid global slowdown

Published November 21, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30378553?utm_source=category&utm_medium=internal_referral

Bond market growth steady amid global slowdown

Nov 20. 2019
Emerging East Asia’s local currency bond market posted steady growth during the third quarter of 2019 .

Emerging East Asia’s local currency bond market posted steady growth during the third quarter of 2019 .
By The Nation

1,545 Viewed

Emerging East Asia’s local currency bond market posted steady growth during the third quarter of 2019 despite persistent trade uncertainties and a global economic downturn, according to the Asian Development Bank’s (ADB) Asia Bond Monitor.

“The ongoing trade dispute between China and the United States and a sharper-than-expected economic slowdown in advanced economies and the China continue to pose the biggest downside risks to the region’s financial stability,” said ADB chief economist Yasuyuki Sawada.

“However, monetary policy easing in several advanced economies is helping to keep financial conditions stable.”

Emerging East Asia is defined as China and Hong Kong, Indonesia, South Korea, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

Local currency bonds outstanding in emerging East Asia reached US$15.2 trillion at the end of September. This was 3.1 per cent higher than at the end of June.

Local currency government bonds outstanding totalled $9.4 trillion, accounting for 61.8 per cent of the total, while the stock of corporate bonds was $5.8 trillion.

A total of $1.5 trillion in local currency bonds were issued in the third quarter, up 0.9 per cent versus the previous three months.

China remained emerging East Asia’s largest bond market at $11.5 trillion, accounting for 75.4 per cent of emerging East Asia’s outstanding bonds.

Indonesia had the fastest-growing local currency bond market in the region during the third quarter, boosted by large issuance of treasury bills and bonds.

One chapter of the Monitor examines the relationship between bond market development and the risk-taking of banks. The analysis finds that well-developed bond markets reduce the overall risk for banks and improve their liquidity positions. This suggests bond market development can contribute to the soundness of the banking system.

An annual survey included in the report shows increased liquidity and trading volumes in most regional local currency bond markets in 2019 versus 2018.

It also highlights the need for a well-functioning hedging mechanism and diversified investor base for both government and corporate bonds.

Thanachart Bank to cut MRR

Published November 20, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30378500?utm_source=category&utm_medium=internal_referral

Thanachart Bank to cut MRR

Nov 19. 2019
By THE NATION

2,029 Viewed

Thanachart Bank announced today (November 19) that it would cut its Minimum Retail Rate (MRR) lending rate to 7.150 per cent from 7.500 per cent, effective December 1.

The move is in response to the Monetary Policy Committee’s decision on November 6 to cut thekey policy rate by 25 basis points to 1.25 per cent. The rate reduction also aims to alleviate the burden of retail borrowers.

Tech lifts Nasdaq to record as retail drags on Dow

Published November 20, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

https://www.nationthailand.com/business/30378530?utm_source=category&utm_medium=internal_referral

Tech lifts Nasdaq to record as retail drags on Dow

Nov 20. 2019
By Syndication Washington Post, Bloomberg · Vildana Hajric, Claire Ballentine450 Viewed

The Nasdaq Composite climbed to a fresh record on the back of gains in megacap tech companies even as the Dow Jones Industrial Average sank following disappointing reports from retailers.

Gains in Facebook, Broadcom and Tesla lifted the Nasdaq while Home Depot was the biggest drag on the Dow after the company cut its annual forecast for the second time this year. Investors also mulled the implications of a report that U.S. and Chinese negotiators may link the size of tariff rollbacks to terms set during talks in May. Ten-year Treasury yields dipped below 1.8%, while oil tumbled for a second day.

The dollar edged higher against its major peers after President Donald Trump said he “protested” U.S. interest rates that he considers too high in a meeting with Federal Reserve Chairman Jerome Powell at the White House. The Fed said Powell’s remarks were “consistent” with his recent public comments.

Investors remain sensitive to any signs of whether U.S. consumers can continue supporting economic growth and are looking for developments on trade after months of closely watched negotiations. One challenge for stocks across developed markets lies in the MSCI World index’s 21% advance this year, which has propelled the benchmark to its highest estimated price-earnings ratio since 2017.

“More and more people are concluding that the economy has some strength, that it’s strong enough to support rising stock prices,” said Kate Warne, an investment strategist at Edward D Jones & Co. in St. Louis. “While consumer spending is falling, it’s not falling off a cliff. Overall most of the news has been good, investors are feeling more confident.”

Elsewhere, European stocks ended lower. Equities fell in Tokyo and climbed in Shanghai. Gold held steady.

Here are some key events coming up this week:

–U.S. economic indicators due for release include initial jobless claims on Thursday.

–Britain holds its first televised leadership debate before next month’s election Tuesday.

–Federal Reserve speakers this week include district bank presidents John Williams, Loretta Mester and Neel Kashkari.

–European central bankers speaking this week include European Central Bank President Christine Lagarde, Bundesbank chief Jens Weidmann, along with Yves Mersch, Luis de Guindos, Pablo Hernandez de Cos and Philip Lane.

–China announces its loan prime rates, a benchmark for borrowing costs, on Wednesday.

These are the main moves in markets:

Stocks

–The S&P 500 index slipped less than 0.1% at the close of trade in New York; the Nasdaq Composite gained 0.2%; the Dow fell 0.4%.

–The Stoxx Europe 600 index fell 0.1%

–The MSCI Emerging Market index gained 0.4%.

Currencies

–The Bloomberg Dollar Spot index rose less than 0.1%.

–The pound fell 0.2% to $1.2926.

–The euro increased less than 0.1% to $1.1077.

–The Japanese yen gained 0.1% to 108.55 per dollar.

Bonds

–The yield on 10-year Treasuries dipped three basis points to 1.78%.

–Germany’s 10-year yield was little changed at -0.34%.

–Australia’s 10-year yield declined four basis points to 1.13%.

Commodities

–West Texas Intermediate crude declined 3.2% to $55.25 a barrel.

–Gold was little changed at $1,472.17 an ounce.

%d bloggers like this: