As the year of the dog comes to a close, Bangkok Post's Business Section has selected the 10 most noteworthy business events of 2018. This has been one of the most eventful years of the decade for Thailand, from a duty-free tycoon's untimely death, the Sino-US tit-for-tat trade feud slowing global economic growth, the Phuket boat tragedy cutting into Chinese tourist numbers, enforcement of the digital asset law to the digital banking transaction fee waiver and the blockage of PTT subsidiary Global Power Synergy's acquisition attempt for Glow Energy. The year not only reshaped companies and industries in Thailand, but saw shifts in global economic landscape itself. Here is a look at the notable events of 2018. LUCRATIVE CONCESSION The death of King Power founder Vichai Srivaddhanaprabha has cast a shadow over the upcoming duty-free concession auction for Suvarnabhumi airport as observers are sceptical of the political and business connections cultivated by Vichai's successor. A man … [Read more...] about Looking back on the roller coaster ride that was 2018
Exemption capital gains home sale
LOS ANGELES (REUTERS) - The city of Los Angeles, a leading centre of the world's fashion industry, moved on Tuesday (Sept 18) toward becoming the largest US metropolis to outlaw the sale and manufacture of most fur products within its limits. Following the lead of San Francisco and two smaller California municipalities, the Los Angeles City Council voted 12-0 to direct the City Attorney's Office to draft an ordinance banning fur apparel and accessories ranging from mink coats to rabbit's foot charms. The draft must then gain final approval by the council and be signed by Mayor Eric Garcetti to be enacted. Supporters said they hoped adoption of a fur ban in the nation's second-largest city, despite its vibrant shopping scene and association with glamour, would lead to similar actions on behalf of animal rights around the globe. "Los Angeles is one of the fashion capitals of the world, and if we can do it here, we can do it anywhere," Councilman Paul Koretz, a sponsor of the measure, … [Read more...] about Los Angeles, city of fashion and glamour, moves to ban fur products
SHARJAH, United Arab Emirates: Wooden dhows crammed with second-hand Japanese cars have been sailing unhindered into Yemeni ports for the past three years despite rigid wartime controls on imports of aid and other vital supplies.Like many Yemeni traders, Ali al-Mahry jumped at this chance to turn a profit by supplying customers at home with cars bought cheaply at auction in the United Arab Emirates.A Saudi-led military coalition, of which the UAE is part, has been battling Houthi rebels since 2015 with the aim of restoring the Yemeni government in exile.The coalition has imposed controls to deny arms to the Houthis, fighters aligned with Iran who control the capital Sanaa and Hodeidah, the largest port. The measures have choked off supplies of fuel, food and medicine to Yemen, where millions face starvation and disease.Yet coalition forces appear to have turned a blind eye to the dhows that regularly carry cars from Port Khaled in the emirate of Sharjah to a small dock at As Shihr, a … [Read more...] about Yemeni car traders cash in on the Japan connection
Recap: Concerns about inflation and interest rates continued to drive fluctuations in global stock markets this week, but sentiment recovered after the St Louis branch of the Federal Reserve cautioned against raising interest rates too quickly this year. On the domestic front, the SET index moved in a range of 1,787.70 and 1,819.36 points before closing at 1,808.06 points, up 0.2% from the previous week, in heavy trade averaging 64.32 billion baht a day. Foreign investors continued to be net sellers of 3.78 billion baht, with brokerage firms selling 2.73 billion and institutional investors 15.22 billion. Retail investors were net buyers of shares worth 21.73 billion baht. Newsmakers: The final version of the Trans Pacific Partnership trade deal, minus the United States, was released on Wednesday. More than 20 provisions have been suspended or changed ahead of the official signing in March, including rules on intellectual property originally included at the behest of Washington. The US … [Read more...] about Rate concerns lead to choppy trade, SET edges up
Indian superstar Amitabh Bachchan made his millions (US$100 million) in record time and lost them too within a week, the Statesman reported. His example has come in handy to warn those reposing blind faith in the future of cryptocurrency. On the other hand, Mukesh Ambani, India’s richest man, who is arguably Asia’s richest too, and who transformed India’s telecom sector with his Reliance Jio Network is reportedly contemplating floating another version of the cryptocurrency – JioCoin. What is Bitcoin? A cryptocurrency is a virtual currency which is encrypted and anonymous, making it secure and hard to track. It has no physical manifestation and exists only as a unique string of numbers and characters in the memory of computers. These currencies are traded on online exchanges only geared towards cryptocurrencies, reports Dawn. Bitcoin was the first cryptocurrency which was started in 2009 by an anonymous group or person who go/goes by the name of Satoshi Nakomoto, … [Read more...] about Future of money or a fraud? Deconstructing Bitcoin in the region.