Online Discussion #1: News Sharing Session

Summary

Virtual Reality (VR) technology is beginning to have an important role in the present days, as the news says that there are a higher number of firms asking their staff to put on VR goggles for their skills and knowledge refreshed. Moreover, another big role of VR technology is the VR training system, it provides more cost effective and safer than real world training. For example, you can go through the VR stimulation first instead of going to a dangerous environment. VR training system can help a person improve their skills a lot and there are many benefits of this technology. However, there are some users that are uncomfortable with this VR training.

Why it's interesting/important?

This news is interesting for me because this VR technology can provides many advantages and firms with this VR training will attract more people wanting to work with them which can result in higher labor supply. As the realistically stimulation of the VR, it can lead to higher outputs of the firms due to the advancement of the technology as well. Moreover, soon this VR technology can help exploring other planets with more resources which can also affect the global economics for sure.

References
image: (https://)ichef(dot)bbci(dot)co(dot)uk/news/976/cpsprodpb/65ED/production/_130639062_gettyimages-842445384(dot)jpg(dot)webp
news article: (https://)www(dot)bbc(dot)com/news/business-66393315

Posted by: 6405575 Supisara Preechasawad

Summary:
The Cleveland Federal Reserve has initiated a search for a new leader following the upcoming retirement of current President Loretta Mester in mid-2024. Known for advocating tighter monetary policies, Mester, 65, faces mandatory retirement after serving in her role for a decade by June of the next year. A committee of Cleveland Fed board members, led by Heidi Gartland, deputy chair of the district's board, will conduct the search.
The vacancy occurs amid the Fed's push for increased diversity within its governing body. The new leader will have a vote in the central bank's rate-setting Federal Open Market Committee in 2024. Mester, in her latest speech, suggested the possibility of another interest rate hike before the year's end to address inflation concerns.

Why it's interesting/important?:
The leadership change, along with the expressed need for an interest rate hike to address inflation, adds to the broader economic narrative. Although the actions and policies of the next president will determine how this news affects the US economy directly, it could have a wider impact on the financial landscape of the nation by influencing monetary policy, market condition, and economic decisions.

Reference:
[https://]wwwdotcnbcdotcom/2023/11/08/cleveland-fed-launches-search-for-new-leader-after-loretta-mester-leavesdothtml

Summary:
The world is anticipating a significant rice shortage, impacting over half the global population, due to India's ban on rice exports. The ban, initiated in September 2022 with restrictions on broken rice and a 20% duty on certain varieties, expanded in July 2023 to include plain, white, long-grain rice. This has particularly affected developing nations that heavily rely on India's rice shipments. India, facing food insecurity concerns, aims to stabilize domestic prices, but the global rice market, where it contributes 40%, experiences a rapid price spike of 15% to 20%, reaching levels not seen in almost 12 years. Rising input costs for energy and fertilizer contribute to the issue, and despite global rice prices staying relatively stable, U.S. rice farmers struggle to compete with foreign government support. To address the challenges faced by U.S. rice farmers, Congress passed $250 million in supplemental funding to prevent potential economic disaster. The situation underscores the delicate balance between ensuring domestic food security and the global impact of export restrictions on a vital commodity.

Why it's interesting/important?:
India's move to ban rice exports aims to secure enough rice in domestic markets and lower prices for consumers. While this may address concerns about food security within the country, it can also impact inflation rates and overall economic stability.
With India contributing 40% of the rice market, any export bans from the country quickly influence global rice prices. The spike of 15% to 20% in rice prices, reaching their highest in almost 12 years, has broader economic implications, impacting inflation rates and household budgets worldwide.

Reference:
[https://]wwwdotcnbcdotcom/2023/11/07/global-rice-markets-are-in-crisis-amid-artificial-shortagedothtml

Summary

Israeli health-tech firm Genetika+ is using a combination of stem cell technology and artificial intelligence (AI) software to match antidepressants to patients more effectively. The company collects a patient's blood sample and generates brain cells from it, which are then exposed to different antidepressants to analyze their cellular changes, known as "biomarkers." This information, along with the patient's medical history and genetic data, is processed by an AI system to determine the most suitable medication and dosage for the doctor to prescribe. Genetika+ aims to launch commercially next year after securing funding from the European Union and partnering with pharmaceutical firms. It anticipates a strong demand for its technology, considering there are over 280 million people worldwide suffering from depression. This application of AI has the potential to transform the pharmaceutical industry, which had revenues of $1.4 trillion in 2021.

Why it's interesting/important?

This news is important because the new technology "biomarkers" combine with the AI software helps the firm earns more income. Moreover, in the future, this new tech will be more effective and so the patients can have suitable medication for them. Not only benefits, but there are some disadvantages from this new tech such as higher unemployment issue due to less employees the firms want. However, this tech is still in the process and still needs proficient employees.

References
image: (https:)//ichef(dot)bbci(dot)co(dot)uk/news/976/cpsprodpb/E05B/production/_129353475_woman1.jpg.webp
news article: (https:)//www(dot)bbc(dot)com/news/business-65260592

Posted by: 6405575 Supisara Preechasawad

Thailand’s KBank acquires crypto exchange business Satang

Summary:
According to a statement posted on the Stock Exchange of Thailand (SET) website on October 30, Kasikornbank (KBank) was entering the cryptocurrency market by purchasing 97% of the shares in Thailand's Satang cryptocurrency exchange. Satang is a well-known cryptocurrency company in Thailand that offers a crypto exchange along with other services related to digital assets. Kasikornbank’s cryptocurrency business will have three perspectives: the custody platform Orbix Custodian, the venture arm Orbix Invest and Orbix Technology, a blockchain technology developer.

Why it's interesting/important?:
The purchase of Satang Corporation shares by Kasikornbank is interpreted as an indication that Thai commercial banks are starting to take a more comprehensive look at the cryptocurrency sector. It is also anticipated that Kasikorn Bank's arrival would have a significant impact on Thailand's and the ASEAN region's bitcoin market. Furthermore, it indicates that the advancement of the technology makes the bitcoin market, especially in Thailand, would continue to expand and attractive.

Reference:
longtunman.com/47545

Summary

South Korea is investing more money in AI and quantum computing to become a global leader in these technologies. Norma, a quantum security specialist, signed an agreement with IQM Quantum Computers to bring quantum computers to South Korea. Although the country is known for Samsung, Kia, and K-Pop, it has been catching up in AI and quantum computing.

Why It's Important

South Korea is intensifying efforts to lead in AI and quantum computing, crucial for global tech competitiveness. Despite playing catch-up, rapid progress is evident, with a $2.3 billion commitment to quantum science. Already dominant in semiconductors, especially memory chips, the nation aims for an 80% share in AI chips by 2030, backed by an $800 million investment. Beyond chip-making, AI innovations like Naver's Cue highlight South Korea's prowess in language technology. Collaborations, like Norma and IQM Quantum Computers, underscore the country's dedication to becoming a quantum technology powerhouse by 2035.

References

image: (https://)quantumzeitgeist.com/south-korea-pledges-2-3-billion-to-become-quantum-tech-powerhouse-by-2035/
news article: (https://)techwireasia.com/2023/09/can-south-korea-take-the-lead-in-quantum-computing-and-ai/

Summary

Chicago Federal Reserve President Austan Goolsbee has mentioned the possibility of achieving a "golden path" for the economy, bringing down inflation without causing a significant recession. Despite inflation being above the Federal Reserve's target, Goolsbee sees a chance for a soft landing, with unemployment increasing modestly while inflation decreases.

Why It's Important

This is significant because it outlines the Fed's goal of managing inflation without causing a major economic downturn. Goolsbee highlights the unique challenge of achieving a significant drop in inflation without a historical precedent of a big recession. The statement underscores the importance of the Federal Reserve's approach to data-driven decision-making, emphasizing the difficulty of achieving a "golden path" in the current economic context. The focus on managing inflation is crucial for maintaining economic stability and growth without causing undue hardship.

References

image&news article : (https://)wwwdotcnbc.com/2023/11/07/feds-goolsbee-says-golden-path-of-a-huge-drop-in-inflation-without-a-recession-is-still-possible.html

China’s Slowing Economy Will Hit Sub-Saharan Africa’s Growth

Summary:
China has established deep economic ties with countries. In the Sahara sub-region of Africa in the past 20 years, it is becoming the only largest trading partner in the region. China buys one-fifth of the region's exports, including metals, minerals and fuels. It also supplies products and machinery produced so mostly of them are imported by African countries. However, China's economic growth has slowed in recent years due to the deterioration of real estate and the impact of the coronavirus pandemic. By long-term forecasts, forecasting about 4% annual growth, down from 7% during the rest of this decade. The negative impact on the region from China that slows will be passed mostly through commodity exports. Resulting in one percentage point decline in China’s growth rate could reduce average growth in the region by about 0.25% within a year.

Why is this news interesting/important?:
China's real GDP growth rate has decreased by one percent. As a result, the total GDP growth of sub-Saharan Africa has decreased by about 0.25% within a year. Moreover, oil exporters will be most affected. If GDP declines for 2 quarters, the economy will enter a recession. Technically, this will affect the overall economy, product prices, and employment will decrease. There will be a higher unemployment rate and the purchasing power will be decreased. Sub-Saharan African countries will have to adapt to the slowdown in China's growth and reduced economic participation by creating flexibility through increased inter-African trade and by creating new buffers, including through tax policy reforms and revenue management improvements.

References:
https://www.imf.org/en/News/Articles/2023/11/09/cf-chinas-slowing-economy-will-hit-sub-saharan-africas-growth
https://www.stears.co/article/how-will-chinas-economic-slowdown-impact-sub-saharan-africa/

Rice production under threat with 3% decline expected for current season:

Summary:
Thailand has launched rainmaking operations and taken other drought-fighting steps at it deals with a severe water shortage. Rainfall has been weak across the country due to climate change and the effects of EI Nino phenomenon. The government performed cloud-seeding operations in the providence of Lop Buri at the end of September. The Ministry of Agriculture and Cooperatives estimates that rice production will decline to 25.8 million tonnes for 2023-2024, down more than 3% from last season. Thailand typically is hit by floods during its rainy season from June to October, but it has seen a significant drop in rainfall this year. Dams and reservoirs were only 54% fulls as of Tuesday, storing about 28.3 billion cubic meters of water, according to the Royal Irrigation Department. Thailand has tapped rainmaking technology for other purposes, namely to prevent wildfires and wash the air of fine particulate matter, or PM2.5, and will likely continue artificial precipitation efforts. Temperatures are excepted to stay warmer than usual through February 2024.

Why it's interesting/important:
Thailand is an agriculture country. Thailand's main export product is rice. When there is a drought occurs, it is necessary for the government to find a way and solve the crisis so that rice can be produced and exported abroad. To maintain the trade market and stimulate the country's economy as well. If this problem can't be solved, it will cause an important agriculture product such as rice to suffer a shortage of both domestic consumption and foreign exports as well.

Ref: (KOSUKE INOUE, Nikkei staff writerOctober 4, 2023 04:52 JST, 

https://asia.nikkei.com/Spotlight/Environment/Drought-hit-Thailand-turns-to-cloud-seeding-to-offset-EI-Nino2)

Summary:

Saudi Arabia’s Crown Prince Mohammed bin Salman announced the launch of the Esports World Cup to be held annually in Riyadh starting in the summer of 2024. And it will be the largest global event of Esports, it will serve as a platform that supports the gaming and esports sectors. The launch of the tournament is expected to achieve the goals that are imagined in Saudi Arabia’s National Gaming and Esports Strategy. This strategy aims to increase the sector’s contribution to the Kingdom’s gross domestic product (GDP) by more than $13.3 billion by 2030 and create 39,000 new job opportunities.

Why the news is interesting/important?:

For the first thing that will come when Saudi Arabia is the host of the competition is the interest of Esports teams, players, and fan clubs that spread around the world. They will have a feeling that they want to join this tournament once in their lives, whether as players or spectators, because it will be one of the experiences and memories that will never be forgotten by those who have a passion for Esports. And this one will have an effect to the economic from before the tournament starts until the end of the tournament, such as
1. Labor Market: In the first part about construction, they want many laborers to create places and related buildings, so it’s meant the demand for the labor market will increase.
2. Job Creation: It can create jobs for many people in the country who have abilities because the scale of this event is very massive, so they need many people who have potential to help them, and this one will create jobs like guides, voice actors, cameramen, directors, etc., so it can stimulate the economy for people in the country because people will have jobs.
3. Attracting investment: Attracting investors, sponsors, or related businesses to invest in the country For example, when food-related businesses know that a competition will be held in that city during this time, they can invest in building a restaurant to open and sell food there. such time
4. Economic Impact during Competition: Hosting a major esports tournament can stimulate the local economy by attracting participants, spectators, and sponsors. It can boost tourism, generate revenue for businesses in the host city, and also give opportunities to related businesses like car rental companies, guides, or translators.

Reference:

Evergrande files for US bankruptcy protection as China economic fears mount

Summary:
China Evergrande Group has filed for U.S. bankruptcy protection as part of one of the world's largest debt restructurings, as concern over China's escalating real estate crisis and its effect on the underperforming economy. After encountering a financial constraint in mid-2021, Evergrande, formerly China's top-selling developer, has become the poster child of an extraordinary debt crisis in the country's property sector, which contributes for nearly 2% of the China’s GDP. Evergrande's offshore debt restructuring totals $31.7 billion in bonds, collateral, and repurchase agreements.

Why it's interesting/important?:
Evergrande's troubles will have a direct impact on the client, who may lose that money if the company fails. There are additional businesses that do business with Evergrande. Construction and design businesses, as well as material suppliers, are at risk of experiencing significant losses, which might push them into bankruptcy. Finally, it will have implications for China's financial system: if Evergrande fails, banks and other lenders may be pushed to lend less. This might result in a credit crunch, in which businesses struggle to borrow money at reasonable rates. A credit crisis would be disastrous for China's economy, because enterprises that cannot borrow find it impossible to develop and, in certain situations, cannot continue to operate.

Reference:
(https)://edition.cnn.com/2023/08/17/business/evergrande-files-for-bankruptcy/index.html

(1) Summary:
- Inflation in the United States has shown a seventh consecutive month of moderation, but the prices are still increasing at a rate higher than what is considered healthy.

- The inflation rate for the 12 months ending in January was 6.4%, slightly down from December's 6.5%. The rise in prices has been driven by increases in housing, food, and energy costs. While some prices, such as those for televisions, smartphones, and used cars, have fallen, others, including housing costs, continue to rise.

- The Federal Reserve has responded by raising interest rates to cool the economy and mitigate inflationary pressures, but the situation remains challenging.

(2) Importance and Interest:
- This news is important because it shows the ongoing challenges the U.S. economy faces with inflation. While there's a slight moderation in the inflation rate, it remains above the target rate considered healthy.

- The report highlights the complexity of the issue, with certain sectors experiencing price decreases while others see it increases. The Federal Reserve's response in raising interest rates indicates the serious of the situation. The debate among economists about the effective of these measures and their potential impact on the job market and overall economic health adds to the importance of closely monitoring inflation trends.

- The news suggests that achieving price stability and returning inflation to the target rate may be a gradual and challenging process, impacting various sectors of the economy differently.

Ref: https//www-bbc-com/news/business-64639662

References
[1] https//www bbc.com/news/entertainment-arts-67364587
[2] https//www cnbc.com/2023/11/09/sag-aftra-strike-impact.html

Posted by 6405536 Jiratchaya Phramphan

Summary:
The news revolves around the Thai government's announcement of the Digital Wallet project, aimed at stimulating the economy by providing a 10,000 baht digital allowance to eligible individuals. The criteria for eligibility include Thai citizens aged 16 and above with a monthly income not exceeding 70,000 baht or savings below 500,000 baht. The initiative, scheduled to begin in May 2567, also involves a significant budget allocation for economic development and the promotion of new technologies.

Importance and Interest:
This news is interesting and important for several reasons. Firstly, the Digital Wallet project represents a comprehensive effort by the Thai government to address economic challenges by directly injecting funds into the hands of citizens. The eligibility criteria, including age, income, and savings, indicate a targeted approach to support those who may be most financially affected. Additionally, the allocation of a substantial budget for economic development, particularly in emerging technologies, showcases a forward-looking strategy to drive innovation and competitiveness.

Moreover, the implementation of the e-Refund program for tax deductions further emphasizes the government's commitment to inclusive economic recovery, encouraging citizen participation and fostering a digital tax system. The combination of short-term economic stimulation and long-term structural development underscores a holistic approach to address immediate needs while laying the groundwork for sustained economic growth. Overall, this news highlights the government's proactive measures to navigate economic challenges and create a resilient, digitally-driven economy in Thailand.

Ref: https://www-thairath-co-th/news/politic/2739654

References
[1] https://www thairath.co.th/money/economics/thailand_econ/2739499
[2] https://thestandard co/hybrid-and-plug-in-hybrid-car-tax-exemption-measures/

Posted by 6405536 Jiratchaya Phramphan

Summary:
- The war with the Hamas terror group has resulted in the absence of thousands of workers from their jobs, costing the Israeli economy an estimated NIS 2.3 billion ($600 million) per week, which is approximately 6% of the weekly GDP.

- The Bank of Israel's research report attributes the drop in labor supply to factors such as the mobilization of reserve soldiers, the evacuation of residents, and the closure of the education system.

- The analysis focuses on the economic cost in terms of labor costs rather than the loss of product.

Importance and interest:
- This news is important as it sheds light on the economic impact of the conflict between Israel and Hamas. The estimated cost of NIS 2.3 billion per week highlights the significant economic challenges faced by Israel due to the war.

- The analysis focus the various effects, including the mobilization of reserve soldiers, evacuation of residents, and the closure of the education system, all contributing to a considerable economic strain.

- Understanding the economic implications of conflicts can be essential for policymakers and the public to comprehend the broader consequences of ongoing geopolitical tensions.

Ref: https-//www-timesofisrael-com/war-is-costing-economy-some-600m-a-week-due-to-work-absence-bank-of-israel/

JKN Global Group Plc (JKN) filed for bankruptcy.


JKN, a Miss Universe pageant owner, has filed for bankruptcy due to a liquidity crunch in Thailand, seeking protection from creditors. Despite reporting higher assets than debts in the first half of the year, the company faces financial challenges. JKN aims to undergo a business rehabilitation process with five key measures, including restructuring business and finances, negotiating lower interest rates, securing funds from new investors, selling non-performing assets, and planning for liquidity. The bankruptcy filing is a strategic move to address a liquidity crunch and ensure the company's financial recovery under court protection.

Why This News is Important?
- Investor Confidence: The news of a bankruptcy can influence investor confidence, not only in the specific industry but also more broadly. Investors may become more risk-averse, affecting stock markets and investment decisions.
- Economic Indicator: A firm's bankruptcy can be a measurement of economic difficulties, both in the specific industry and in the overall economy. It may reflect an increase in economic conditions.
- Stakeholders: Uncertainty for employees and suppliers since bankruptcy can damage jobs, contracts, and commercial connections.
- Consumer Impact: Since JKN is a service provider, consumers need to be aware of how the bankruptcy may affect them as customers or users of its services.

Being aware of JKN's bankruptcy is important for many stakeholders and a case study for investors. A company's bankruptcy is not a one-time event. It could be a symptom of broader economic issues. Understanding the background and impacts of these events is necessary for governments, companies, and investors to make reasonable choices and respond effectively to economic issues.

References: www-nationthailand-com/business/corporate/40032688
Posted by Phomlak Chantapimpa 6405561

Summary:
The news discusses recent developments in the monetary policies of major central banks, focusing on the U.S. Federal Reserve, the European Central Bank (ECB), and the Bank of England. It notes a shift in market expectations towards potential interest rate cuts as economic data suggests a softening global economy and easing inflationary pressures. Despite central banks' efforts to combat inflation through rate hikes, there is increasing speculation about the possibility of rate cuts in the future.

Importance/Interest:
- Global Economic Concerns: The softer economic data raises worries about a potential economic slowdown. Balancing inflation control and sustaining economic growth becomes a challenging task for central banks.
- Central Bank Policy Shifts: Major central banks shifting from rate hikes to potential cuts have significant implications for financial markets. This affects investment strategies, asset prices, and overall market sentiment.
- Inflation Dynamics: The report highlights decreasing inflation rates, impacting business decisions, pricing strategies, and economic planning for businesses, investors, and policymakers.
- Market Sentiment and Uncertainty: The market's response to central bank signals reflects ongoing uncertainty and volatility. Investors closely monitor these signals, influencing decisions based on evolving expectations of interest rate movements.
- Impact on Individuals and Businesses: Changes in interest rates directly affect borrowing costs, investment decisions, and consumer spending. This news is relevant to a broad audience, including individuals with mortgages, businesses seeking loans, and various investors.

In essence, this news offers insights into the intricate relationships between economic data, central bank actions, and market responses. It highlights the challenges faced by policymakers in navigating economic uncertainties and emphasizes the interconnectedness of global financial markets.

Ref: https://www-cnbc-com/2023/11/07/central-banks-look-to-have-hit-peak-rates-heres-how-markets-think-theyll-come-down-html

Summary
Summary: Japan's prime minister compiled a package to counter economic inflation that will cost $113 billion dollar [17 trillion yen]
include reducing income tax, and residential tax, controlling oil prices, and reducing utility bills. Prime minister said if this package is in effect, it will increase the GDP by 1.2% over 3 years. On the other hand, the analyst of Japan's central bank thinks that this package is only going to affect GDP by 0.19% which will equal to government issuing more bonds

Interesting/Important:
The interesting thing here is the government tends to think that the program will succeed and meet its goals but the analyst does not seem to agree. This may maybe due to the culture of Japan which does not encourage people to spend money and the lack of labor also affects the inflation. If the package fails it would result in government dept. Moreover, the government will need to issue more bonds which worsen the government debt.

ref:https:www-reuters-com/markets/asia/japans-kishida-announces-113-bln-package-combat-inflation-pain-2023-11-02/
by u6405543

Summary
Summary: In mid-2023 the automotive industry has largely recovered from the semiconductor chip crisis. In 2021 more than 9.5 million but now only fell of by 500k units in the first 2 quarters. Currently, wholesale shortages of the chip have turned into constrained supply but the current supply levels could support around 22 million. Although more investment is also duping in the production of chips [Soc] system-on-chip is increasing more powerful as well.

Interesting/Important:
interesting things: From 2021 the graph of demand has lowered and supply also increased rapidly due to the increase of manufacturing funds dumped into the industry. However, there might be a higher demand because manufacturers have to create and produce higher quality chips, which will extend the manufacturing process.

ref:https://www-techrepublic-com/article/global-chip-shortage-cheat-sheet/
by 6405543

China’s ICBC, the world’s biggest bank, hit by cyberattack that reportedly disrupted Treasury markets


Summary
The U.S. financial division of China's biggest bank, ICBC, got hit by a cyberattack. It's a type of attack where hackers take control of computer systems and demand money to release them. ICBC isolated the affected systems and is investigating with the help of security experts and the police. While they say they cleared some trades, reports suggest that the attack disrupted trading in U.S. Treasury bonds. The U.S. Treasury Department is aware of the issue and keeping an eye on it. ICBC mentioned that its U.S. systems are separate from its operations in China and that other branches of the bank weren't affected.




Why it's important
this news is important because a big bank in China had a computer attack that messed up trading in the United States, which could affect how people and businesses manage their money. It also shows that computer attacks are a big problem, and it might cause some issues between China and the United States. It's a reminder that we need to make sure our computer systems are safe and protected.


Reference cnbc.com/2023/11/10/icbc-the-worlds-biggest-bank-hit-by-ransomware-cyberattack

Thailand Board of Investment (BOI) Reports 43% FDI Growth in 9-Month

Summary
Thailand has seen a big increase in foreign investments. More companies from other countries want to start projects in Thailand, and they are investing a lot of money. The industries that are most popular for investment are electrical appliances, food processing, and automotive. China is the biggest contributor, followed by Singapore and Japan. Thailand is becoming more attractive to foreign investors, especially in high-tech and food-related industries. This is good for Thailand's economy.

Why it's important?
This news is important because it shows that Thailand is becoming more attractive for businesses from around the world. They're getting a lot of investment, especially in industries like electronics, farming, and cars. This is good for the Thai economy and means more jobs and growth. It's like a sign that Thailand is doing well in getting businesses to invest in their country.

Reference thailand-business-news.com/business/111000-thailand-board-of-investment-boi-reports-43-fdi-growth-in-9-month

Canadian Solar Announces 5 GW Solar Wafer Facility in Thailand



SUMMARY:
Canadian Solar plans to establish a 5GW solar PV (N-type) wafer production facility in Chonburi. These wafers will act as inputs for a 5 GW U.S. cell factory. As a result, the solar wafer factory will convenience U.S. customers and enhance the supply chain as well. Moreover, the investments in the U.S. in solar cell and solar module manufacturing will be increasing from this plan. Lastly, this plan will allow consumers to meet the requirements set by the U.S. Department regarding anti-dumping and countervailing duties (AD/CVD).

INTERESTING/IMPORTANCE:
Consequently, Canadian Solar will diversify the supply chain by reducing single-source production, and resilience and mitigating potential disruptions. Besides, it also nourishes and enhances the industry's growth as well. It reflects the continued growth of the renewable energy sector due to the demand of consumers or citizens all over the world.

REFERENCE: https://solarquarter[dot]com/2023/11/10/canadian-solar-unveils-plans-for-5-gw-solar-wafer-facility-in-thailand/

by 6405591

Minimum wage to rise next month



SUMMARY:
After the election of Prime Minister Srettha Thavisin has reached the conclusion, that the minimum daily wage in Thailand will be increased by the end of next month. Unfortunately, it will not reach 400 THB as the P.M. has promised. As a result, all provinces must propose new minimum daily wage rates by November 17 due to the new regulations and submit to the cabinet for endorsement. Last year, 31 provinces did not raise the minimum daily wage rates due to concerns about its impact on business and potential job cuts. In conclusion, the minimum daily wage was raised to a range of 328 - 354 THB.  

INERESTING/IMPORTANCE:
This government policy will significantly affect labor costs for businesses. In other words, companies are required to spend more expenses on higher-wage workers which can impact their profitability and operational budgets. Therefore, businesses will need to adjust their financial and operation plans for further higher labor costs. This could involve revising budgets, cost-cutting measures, or seeking ways to improve efficiency.

REFERENCE: https://www[dot]bangkokpost.com/learning/easy/2679841/minimum-wage-to-rise-next-month

by 6405591

The Thailand Board of Investment (BOI) has experienced a significant increase in foreign investment, with a 43% rise in investment value and China emerging as the large sauce of foreign direct investment applications.



Summary:
The Board of Investment (BOI) has seen a significant increase in project applications, with a 31% rise compared to the previous year. The number of foreign direct investment (FDI) project has also surged by 49%, totaling 398.5 billion baht compared to the previous year. The electrical appliances and electronics industry was the top sector, followed by agro-industry and food processing, and automotive and parts. The BOI aims to attract more foreign investment by expanding its reach and supporting the automotive industry through incentives for automation and robotics.

Why it's interesting/important:
Foreign investment in Thailand is continuously increasing. It has a positive effect on Thai economy. This results in more money circulating in the economy and increased employment. It is also a good trend for rehabilitating the country in various aspects.

Ref:
https://www.thailand-business-news.com/business/111000-thailand-board-of-investment-boi-reports-43-fdi-growth-in-9-month