Vietnam regrets US’ decision to blacklist gas firm over deal with Iran: foreign ministry #SootinClaimon.Com

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Vietnam regrets US’ decision to blacklist gas firm over deal with Iran: foreign ministry (nationthailand.com)

Vietnam regrets US’ decision to blacklist gas firm over deal with Iran: foreign ministry

Dec 19. 2020Việt Nam Ministry of Foreign Affairs Lê Thị Thu Hằng responded to the media questions during the regular press briefing held in Hà Nội on Thursday. — VNA/VNS PhotoViệt Nam Ministry of Foreign Affairs Lê Thị Thu Hằng responded to the media questions during the regular press briefing held in Hà Nội on Thursday. — VNA/VNS Photo 

By Viet Nam News/ANN

HÀ NỘI — Việt Nam regrets the US’ decision to sanction a Vietnamese gas transportation firm for allegedly facilitating the export of petrochemical products from Iran in contravention of sanctions.

The spokesperson for the Việt Nam Ministry of Foreign Affairs Lê Thị Thu Hằng made the remark on Thursday during a regular press briefing in Hà Nội, where she commented that as a responsible member of the United Nations and of the international community, Việt Nam always fully observes the body’s resolutions.

Việt Nam-Iran relations are “always open, transparent and lawful,” Hằng said, adding that trade relations between the two countries are “strictly civilian” and involve goods that serve the essential needs of the peoples and do not run contrary to the many resolutions of the UN Security Council.

“Việt Nam finds it regrettable that the US has reached such a decision, and we strongly urge the US – with consideration towards the warm bilateral relations between the two countries – to contemplate removal of the sanction against the Việt Nam Gas & Chemicals Transportation Corporation without causing further difficulties to the Vietnamese businesses and companies engaging in ordinary business,” Hằng said.

Earlier on Wednesday, the US Treasury Secretary Steven Mnuchin announced it would “act against persons who support illicit actors engaged in the movement of Iranian petroleum sales,” blacklisting four entities – including China-based Donghai International Ship Management Limited, China-based Petrochem South East Limited, UAE-based Alpha Tech Trading FZE and UAE-based Petroliance Trading FZE, in addition to the Vietnamese company for alleged “significant transactions” for the transport of Iran’s oil products.

These companies are alleged to have had dealings with Iran’s Triliance Petrochemical, which was hit with sanctions by Washington in early 2020.

Currency manipulation

Also on Thursday, the Vietnamese foreign ministry responded to the US Treasury Department’s Wednesday decision to label Việt Nam as a currency manipulator for the first time after many threats.

Hằng said the State Bank of Việt Nam issued its statement regarding the matter this morning and local and foreign media have already widely carried the news.

“In the last 25 years, especially since the elevation of ties to the Comprehensive Partnership, the relations between Việt Nam and the US have witnessed strong growth across the board, including in the domain of economics, commerce and investment,” Hằng continued.

Việt Nam attaches special importance to trade relations with the US and always seriously implements high-level agreements and other bilateral trade commitments, according to Hằng.

Việt Nam always maintains dialogues and consultations with the US side in a constructive spirit to address issues in trade relations, with a view towards ensuring sustainability and harmonised interests between the two countries, the Vietnamese foreign ministry spokesperson added.

Mekong watch

Responding to a question over Việt Nam’s reaction to the December 15 launched US-backed Mekong Dam Monitor, aimed at tracking the activities of dams – especially China-run ones – in the upper parts of the Mekong River, Hằng said as a country in the Mekong region, Việt Nam welcomes all initiatives that contribute to the common efforts towards co-operation in the management and use of the Mekong water resources in a sustainable, fair and reasonable manner.

“We will look into the initiative and find ways to co-operate in a suitable fashion to help foster the sustainable development of the Mekong River basin,” she added.

Radioactive concerns

Asked for a response over recent reports from the Philippine Nuclear Research Institute showing high levels of radioactivity in the West Philippine Sea, part of the South China Sea and currently contested between China and the Philippines, the Vietnamese foreign ministry spokesperson stated that relevant authorities pay great attention to this matter and are looking into the veracity of the information.

“It should be noted that the 1982 United Nations Convention on the Law of the Sea (UNCLOS) clearly codified that countries and states have the obligation to protect and preserve the maritime environment, and respect the sovereignty, sovereign rights, and jurisdiction of other littoral states as identified in accordance with the 1982 UNCLOS,” Hằng said.

The use, exploitation, and transportation of devices, equipment and materials that contain the risks radioactive hazards need to follow international law and regulations, norms and rules on assurance of nuclear safety as put in place by the IAEA (International Atomic Energy Agency) without jeopardising the peace and security in the region, the spokesperson stated. — VNS

Japan finalizes policy to build 2 Aegis ships, develop long-range missiles #SootinClaimon.Com

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Japan finalizes policy to build 2 Aegis ships, develop long-range missiles (nationthailand.com)

Japan finalizes policy to build 2 Aegis ships, develop long-range missiles

Dec 19. 2020Prime Minister Yoshihide Suga, center, attends a Cabinet meeting on Friday at the Prime Minister’s office, Tokyo. (The Yomiuri Shimbun)Prime Minister Yoshihide Suga, center, attends a Cabinet meeting on Friday at the Prime Minister’s office, Tokyo. (The Yomiuri Shimbun) 

By The Japan News/ANN

Japan will build two Aegis-equipped ships to replace the ground-based interceptor system known as Aegis Ashore and also develop a long-range cruise missile that can strike beyond the range of enemy missiles, the government decided at a cabinet meeting on Friday.

In June, the government abandoned plans to deploy the Aegis Ashore system because of the risk of missile propulsion units landing outside bases, endangering nearby residents.

Three alternative proposals were studied: deploying destroyers including Aegis ships; using private ships; and building floating facilities offshore. A decision was made to install the system on destroyers, which are more resistant to enemy attacks and can be flexibly deployed across wide areas.

The Aegis ships will be equipped with the Aegis Ashore’s SPY7 radar and missile launchers and SM6 multifunctional antiaircraft missiles that can intercept ballistic and cruise missiles, to defend against possible attacks by North Korea and China.

The government will study further whether the new ships will have anti-ship and anti-submarine capabilities, as well as missile defense capabilities, earmarking ¥1.7 billion for research and other expenses in the next fiscal year’s budget.

The long-range cruise missile will be based on the Ground Self-Defense Force’s Type 12 surface-to-ship guided missile, and is expected to take five years to develop. The Type 12 has a range of just over 100 kilometers. The new missile is expected to have a range of about 1,000 kilometers and also have stealth capability. Development costs of ¥33.5 billion will be included in next year’s budget plan.

The Defense Ministry is also moving ahead with plans to introduce long-range missiles such as the U.S.-made JASSM air-to-ground missile with a range of about 900 kilometers to be mounted on F-15 fighters. The government is aiming to further strengthen Japan’s deterrence capability through the introduction of various types of missiles.

Former Prime Minister Shinzo Abe had said in a statement before leaving office in September that the government would finalize by the end of this year a new missile defense policy, that could include possession of capabilities to attack enemy territory. However, the government decided at Friday’s Cabinet meeting to continue studying the policy next year.

The cabinet meeting did not refer directly to the new policy on missile defense out of consideration for the ruling Liberal Democratic Party’s junior coalition partner Komeito, which has been cautious about Japan’s possessing capabilities to attack enemy bases. Instead, discussions referred to efforts to “continue studying deterrence enhancements.”

ADB: 2.1b people in Asia-Pacific lack water supply, sanitation #SootinClaimon.Com

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ADB: 2.1b people in Asia-Pacific lack water supply, sanitation (nationthailand.com)

ADB: 2.1b people in Asia-Pacific lack water supply, sanitation

Dec 19. 2020

Residents carry drinking water in plastic containers during a free supply distribution organized by the Hyderabad Metropolitan Water Supply and Sewerage Board Government of Telangana at a slum in Secunderabad, the twin city of Hyderabad, India, on May 20, 2020. (NOAH SEELAM / AFP)

Residents carry drinking water in plastic containers during a free supply distribution organized by the Hyderabad Metropolitan Water Supply and Sewerage Board Government of Telangana at a slum in Secunderabad, the twin city of Hyderabad, India, on May 20, 2020. (NOAH SEELAM / AFP)

By China Daily/ANN

MANILA – Despite achievements in Asia and the Pacific region over the last few decades, 1.5 billion people living in rural areas and 600 million in urban areas still lack adequate water supply and sanitation, the Asian Development Bank (ADB) said in a report released on Friday.

Of the 49 ADB regional members, the Manila-based bank said that 27 members face “serious water constraints on economic development,” and 18 are yet “to sufficiently protect their inhabitants against water-related disasters”.

According to the Asian Water Development Outlook (AWDO) 2020 report, the economies in Asia and the Pacific must put water security at the top of their agenda to recover from the fallout from the COVID-19 pandemic and adapt to climate change.

In the report, the ADB set out the status in the region of water security, which measures the availability of safe and affordable water supply, sanitation for all, improved livelihoods, and healthy ecosystems, with reduced water-related diseases and floods.

It stressed the need to put water at the center of sustainable rural development by promoting water-effective irrigation agriculture, community-based water and sanitation services, and locally resilient disaster risk reduction.

It further stressed the need to achieve urban water security by investing in water, sanitation, and disaster risk reduction infrastructure services not only in cities but also in slums and peripheral areas.

In the report, the ADB called on the region to “provide a healthy environment by drastically reducing pollution, stimulating a circular economy, increasing land protection, and embracing nature-based approaches”.

It stressed the importance of increasing the resilience of water systems to avoid water-related disasters.

To improve the region’s water security, ADB said it has programmed more than US$6 billion in financial and technical assistance between 2020 and 2022 to support safe water supply, sanitation, and wastewater measures.

The ADB said it has also programmed more than US$2 billion for flood risk management in the same period, together with tailored knowledge services that promote innovation and forge partnerships.  

Hyundai Motor Group unveils AI-based Korean-English translation app #SootinClaimon.Com

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Hyundai Motor Group unveils AI-based Korean-English translation app (nationthailand.com)

Hyundai Motor Group unveils AI-based Korean-English translation app

Dec 19. 2020H-Translator (Hyundai Motor Group)H-Translator (Hyundai Motor Group) 

By Jo He-rim
The Korea Herald/ANN

Hyundai Motor Group said Friday it has developed a Korean-English translation app to support smooth communication among its employees in local and overseas offices.

Dubbed the H-Translator, the app is based on artificial neural network (ANN) algorithm and is specialized in the automobile industry, the South Korean automaker said.

Hyundai explained that it has come to develop the translator to support timely communication and strengthen work efficiency, as the company has been actively recruiting foreign employees.

According to Hyundai, the H-Translator is not only capable of translating written text, but also recognize writing from images.

It is also capable of translating conversations on online chat rooms, allowing its employees in different countries to communicate in two different languages instantly, the company said.

Hyundai started to work on the ANN algorithm-based machine translation in 2019.

The company said its technology has proved of its quality, as it placed in the first rank in all of the five contests of patent translation of the Workshop on Asian Translation last year.

“We will not only continue to advance related ANN-based machine translation technologies, and expand the number of languages for translation, but also plan to feature these technologies to wearable devices,” a Hyundai Motor Group official said.

According to Hyundai, the H-Translator is an updated version from the company’s web-based translation system, developed by AIRS Company, applied for their internal network in November.

AIRS Company was established as a division for artificial intelligence technology for the automotive firm in 2018.

India planning strike against Pakistan, seeks approval of partners: FM Qureshi in Abu Dhabi #SootinClaimon.Com

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India planning strike against Pakistan, seeks approval of partners: FM Qureshi in Abu Dhabi (nationthailand.com)

India planning strike against Pakistan, seeks approval of partners: FM Qureshi in Abu Dhabi

Dec 19. 2020

By DAWN/ANN

Foreign Minister Shah Mahmood Qureshi on Friday said he had credible information that India was planning a surgical strike against Pakistan to divert attention from its internal affairs and that it was trying to seek “tacit approval” for the move from its “partners”.

The foreign minister made this statement at a press conference in Abu Dhabi, where he is ending a two-day visit during which he held meetings with the top brass of the Emirati leadership.

At the presser, Qureshi summed up his engagements with the UAE leadership over the last two days but also touched on the designs of India, which he said were “picked up by intelligence”.

“An important development has cropped up […] I’ve learned through our intelligence forces […] that India is planning a surgical strike against Pakistan,” said Qureshi.

Terming it a “serious development” he further elaborated that India is already “trying to seek tacit approval” from what Qureshi said were “important players who they consider to be their partners”.

The minister said in his opinion this operation was being planned so India could divert attention from “serious internal issues” and as a means to unify divisions in the country.

Qureshi noted that Pakistan had revealed “India sponsoring terrorism in Pakistan” through a dossier that it shared with the international community.

He also mentioned the recent report by the EU DisinfoLab which exposed an Indian disinformation network of “fake websites and fake NGOs that they had launched with a sole objective to malign Pakistan”.

Elaborating on the “serious internal issues” facing India at the moment, Qureshi said the situation in Indian occupied Kashmir “was never good but has deteriorated further”.

The ongoing farmers’ protests in Punjab, Qureshi said, was a “country-wide protest” resulting from “the policies of this regime, the BJP regime”. He said the protest was growing, with various segments of India such as “opposition parties, lawyers, civil society and trade unions” expressing their support for it.

“The mishandling of the coronavirus by Indian authorities is known to everyone. The impact that it is having on their economy is known to all.”

The situation of the minorities in India, the foreign minister said, was also “increasingly uncomfortable”, referring to the protests in Assam and the situation of Dalits, Sikhs and Muslims.

Qureshi said “Pakistan is fully prepared to respond to and defeat India’s designs.”

“We will do it […] as we did respond immediately and effectively in February 2019,” he warned.

The foreign minister said this information, of an imminent strike against Pakistan, had been shared with relevant capitals, who had been apprised of India’s plans and Pakistan’s willingness to respond.

He said any “misadventure” could seriously undermine and set back the Afghan peace process and “India will be held responsible for this.”

“I warn my eastern neighbour, we are aware of their mindset and we are aware of their designs […] and Pakistan will respond.”

Visas issue

Apprising the room on developments during his two-day visit to the UAE, Qureshi said he had “good meetings” with Mohammed bin Rashid Al Maktoum, Dubai’s ruler, and that they discussed not only bilateral relations but also “opportunities […] for trade and investment”.

He thanked the ruler of Dubai for his support and the support that UAE had provided to Pakistan over the years during difficult times, calling the two countries “destined strategic partners”.

The foreign minister said he would be meeting with the head of UAE intelligence after the media briefing where he would take up the visas issue with him.

Weeks earlier, the UAE included Pakistan among the 12 countries for whose nationals it had suspended issuing visit visas. The move had raised eyebrows as it was not immediately clear why the measure had been applied to Pakistan. The Foreign Office had at the time said it was seeking more clarity from Emirati authorities but that it appeared to be a coronavirus related move.

Days after the suspension of visas, a report published by Reuters said the move was implemented due to “security concerns” without elaborating on what those concerns were.

Qureshi ended the briefing by reaffirming the contributions Pakistan has made in the “progress and development of UAE” and hoped to resolve the few issues that remain.

Army on high alert

Qureshi’s stern remarks against India while on a trip to UAE come on the heels of an already tense atmosphere.

Informed sources told Dawn earlier this month that the Pakistan Army had been put on high alert amidst a possible threat of another attempt by India to conduct a surgical strike inside Pakistani territory.

They said that after facing a humiliating defeat in Ladakh and Doklam, India was preparing to launch another attack on the Line of Control (LoC) and across the Working Boundary at Pulwama, posing a threat to the regional peace and stability.

An official said a “false flag operation” was being planned by India to divert the world’s attention from several of its internal issues, including the ongoing farmers’ protest, its treatment of minorities, atrocities committed by Indian forces in occupied Kashmir and criticism of its policies by international institutions and media.

“India may at any time repeat a Pulwama-like drama to divert attention from the internal problems and was planning an action along the LoC and Working Boundary,” he said.

In 2016, India had claimed to have carried out a surgical strike on the LoC, a claim rubbished by Pakistan. Similarly, on Feb 26 last year, India had tried to launch a similar operation against Pakistan but failed and two of its planes had been shot down by Pakistan Air Force. Indian pilot Wing Commander Abhinandan was arrested and later released.

The decision to put the army on high alert came days after the Indian government approved the creation of a new post of deputy chief of strategy at the army headquarters as per a plan envisaged during the Doklam crisis with China in 2017, besides creating the position of director general information warfare who will also be dealing with media affairs.

SCG Packaging acquires listed Vietnamese company #SootinClaimon.Com

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SCG Packaging acqiires listed Vietnamese company (nationthailand.com)

SCG Packaging acqiires listed Vietnamese company

CorporateDec 18. 2020

By The Nation

SCG Packaging Pcl (SCGP) has finalised its acquisition of Bien Hoa Packaging Joint Stock Co (SOVI), a listed company in Vietnam that specialises in corrugated box and offset laminated packaging

SCGP informed the Stock Exchange of Thailand (SET) on Friday that it has acquired 12,076,587 shares, or a 94.11 per cent stake, in SOVI from the existing shareholders at the price of 171,450 dong per share, which is equivalent to the total payment of 2.07 trillion dong, or approximately Bt2.70 billion.

“This purchase is through TCG Solutions Pte Ltd, which is a wholly owned subsidiary of Thai Containers Group Co Ltd (TCG), a 70:30 joint venture between SCGP and Rengo Co Ltd, Japan,” SCGP chief executive officer Wichan Jitpukdee said.

“The balance sheet consolidation of SOVI will be as at the end of 2020, while the financial performance will be consolidated from January 2021.”

SOVI is a leading fibre- based packaging company whose clients are mainly well-known consumer brands.

“With three manufacturing facilities near Ho Chi Minh City, in southern Vietnam, this acquisition will enlarge SCGP’s customer base particularly in food, beverage and FMCG segments and reinforce internal integration with its packaging paper manufacturing,” Wichan added.

Over the last 12 months, SOVI recorded revenue of 1.61 trillion dong (Bt2.1 billion), net profit after tax of 156 billion dong (Bt200 million) and had assets of 1.05 trillion dong (Bt1.38 billion) at the end of the third quarter.

U.S. stocks fall with lawmaker at odds on aid bill #SootinClaimon.Com

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U.S. stocks fall with lawmaker at odds on aid bill (nationthailand.com)

U.S. stocks fall with lawmaker at odds on aid bill

EconDec 19. 2020

By Syndication Washington Post, Bloomberg · Kamaron Leach, Sarah Ponczek

U.S. stocks fell after Republican demands left Congress without a deal on a federal spending bill. Tesla Inc. edged higher in heavy trading ahead of its inclusion in the S&P 500.

The benchmark index halted a three-day winning streak, though ended well of session lows with a late rally in aflood of trading volume associated with the quarterly expiration of options and futures on stocks and indexes. Almost 200 million shares of Tesla traded hands, four times the 30-day average, as funds benchmarked to the S&P 500 adjusted ahead of the carmaker’s Monday debut.

Stocks spent the session lower as the likelihood that Congress would reach an aid deal ahead of the weekend dwindled. Crude topped $48 a barrel in New York. The dollar rose for the first time in five days. The 10-year Treasury yield moved back above 0.93%. Gold slipped. Copper topped $8,000 a ton for the first time in more than seven years on rising demand and supply bottlenecks.

Congress continues to wrangle over a legislation that would give people and businesses a lifeline to withstand the increasing economic toll caused by the pandemic. A bid by Republicans to constrain the Federal Reserve’s crisis lending programs is threatening to derail negotiations. The virus continued to rage across the country, forcing more jurisdictions to enact tighter restrictions.

“Markets have been pretty strong obviously in November and first part of December, so if we get a little bit of a selloff that shouldn’t surprise people a whole lot,” Keith Gangl, a portfolio manager at Gradient Investments, said in an interview. “It’s quadruple witching so it’s usually a little bit of different actions at the end of the day so we’ll see if that happens”

Here are the main moves in markets:

Stocks

–The S&P 500 Index fell 0.4% at 4 p.m. in New York.

–The Stoxx Europe 600 Index dipped 0.4%.

–The MSCI Asia Pacific Index sank 0.4%.

–The MSCI Emerging Market Index declined 0.3%.

Currencies

–The Bloomberg Dollar Spot Index rose 0.3%.

–The euro dipped 0.2% to $1.2239.

–The British pound decreased 0.6% to $1.3509.

–The onshore yuan weakened 0.1% to 6.54 per dollar.

–The Japanese yen weakened 0.2% to 103.32 per dollar.

Bonds

–The yield on 10-year Treasuries rose one basis point to 0.94%.

–The yield on two-year Treasuries was flat at 0.121%.

–Germany’s 10-year yield declined less than one basis point to -0.57%.

–Japan’s 10-year yield decreased less than one basis point to 0.01%.

–Britain’s 10-year yield sank five basis points to 0.24%.

Commodities

–West Texas Intermediate crude gained 1.2% to $48.93 a barrel.

–Brent crude dipped 0.1% to $51.46 a barrel.

–Gold strengthened 0.1% to $1,886.61 an ounce.

U.S. crude futures eyeing $50 as U.S. stimulus hopes strengthen #SootinClaimon.Com

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U.S. crude futures eyeing $50 as U.S. stimulus hopes strengthen (nationthailand.com)

U.S. crude futures eyeing $50 as U.S. stimulus hopes strengthen

EconDec 19. 2020A cyclist wearing a protective face mask rides past oil storage silos at an oil and gas storage facility in Belgrade, Serbia, on April 28, 2020. MUST CREDIT: Bloomberg photo by Oliver Bunic.A cyclist wearing a protective face mask rides past oil storage silos at an oil and gas storage facility in Belgrade, Serbia, on April 28, 2020. MUST CREDIT: Bloomberg photo by Oliver Bunic. 

By Syndication Washington Post, Bloomberg · Andres Guerra Luz, Alex Longley

Oil continued its rally as U.S. lawmakers work to settle disputes over another round of fiscal stimulus that could help support demand as markets await a wider vaccine roll-out.

Futures rose as much as 1.4% in New York on Friday, heading toward toward $50 a barrel for the first time since February. The rally signals a sharp reversal in the market that saw prices fall below zero just eight moths ago after the pandemic wiped out demand.

Prices have gained support this week on signs of progress on a U.S. virus relief package, with Senate Majority Leader Mitch McConnell saying he’s “even more optimistic now” that an agreement is near. Recent progress in rolling out a covid-19 vaccine has also raised optimism, with the U.S. this week beginning to administer shots and the country’s Food and Drug Administration working quickly toward authorizing Moderna Inc.’s vaccine.

“Expectations of a stimulus deal, a slumping U.S. dollar and optimism surrounding the vaccine deployment are fueling a fiery recovery in energy markets, despite fears of a post-holiday surge in Covid-19 cases,” Bart Melek, head of global commodity strategy at TD Securities said in a note.

Yet, there are signs the market’s rally is due for a pause. Brent’s nearest timespread slumped back into a bearish contango on Thursday, a market structure where nearby futures trade at a discount to later ones. That comes as premiums for real-world barrels are easing. Meanwhile, additional U.S. fiscal stimulus still faces obstacles as several sticking points on the aid package delay an agreement.

“Stimulus will be good for demand, but it’s probably mostly priced into the market already,” said Michael Lynch, president of Strategic Energy & Economic Research. “We have a pretty good sense of what the stimulus package is going to look like.”

West Texas Intermediate for January delivery rose 59 cents to $48.95 a barrel at 10:33 a.m. New York time. Brent for February settlement gained 56 cents to $52.06 a barrel.

The spreading virus and lockdowns are weighing on demand, but the hit is much smaller than earlier in the year and is likely only a speed bump to rebalancing the market, according to a Goldman note. This will leave the oil market range-bound and choppy in coming weeks as vaccine enthusiasm is followed by headlines on tighten pandemic restrictions, the bank said.

Recent price gains may be a bit premature, with the demand recovery remaining bumpy, according to a note from UBS Group. A material increase in oil demand is unlikely before the second quarter of 2021, the bank said.

‘Super Saturday’ set for record as delays drive rush #SootinClaimon.Com

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‘Super Saturday’ set for record as delays drive rush (nationthailand.com)

‘Super Saturday’ set for record as delays drive rush

EconDec 19. 2020

By Syndication Washington Post, Bloomberg · Jordyn Holman

Black Friday and Cyber Monday get all the hype, but with millions of procrastinators who waited too long to even trust expedited delivery, Saturday will be the real record breaker.

U.S. retail sales on the last Saturday before Christmas — dubbed “Super Saturday” in some retail circles — are expected to reach an all-time high of $36.1 billion this year, a 5.5% increase from 2019 levels, according to research firm Customer Growth Partners. That outpaces the $29.7 billion in sales from Black Friday, traditionally considered the kickoff for the holiday season, and dwarfs Cyber Monday’s sales of $15.1 billion.

And unlike much of that earlier shopping, the vast majority — more than 70% — of Saturday’s transactions will take place in person. That expected rush into stores and curbside pick-up lines could give a much-needed boost to retailers who get better margins on in-store purchases.

For ailing retailers, like department stores and clothing chains, a bigger-than-expected final weekend could help in the recovery from the coronavirus pandemic that has sapped demand for apparel and accessories.

Super Saturday is always a big shopping day, overtaking Black Friday as the largest spending day of the season several years ago in the U.S. But a backlog in shipping — carriers like FedEx and UPS earlier this month temporarily restricted some packages it took from big retailers — and the giant snowstorm hitting the Northeast U.S. this week added another layer to delivery concerns. This means, with just a week until Christmas, consumers may have no other choice than returning to the stores that they’ve largely spurned this year.

Stores “actually have the product, so there’s no worry about last-minute shipping or disappointment on Christmas Day,” said Brian Field, senior director of global retail consulting at Sensormatic Solutions. “You could see more retail traffic than we have been seeing.”

German businesses are optimistic about recovery in 2021 #SootinClaimon.Com

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German businesses are optimistic about recovery in 2021 (nationthailand.com)

German businesses are optimistic about recovery in 2021

EconDec 19. 2020Shoppers in Mannheim, Germany. on Nov. 11, 2020. MUST CREDIT: Bloomberg photo by Peter Juelich.Shoppers in Mannheim, Germany. on Nov. 11, 2020. MUST CREDIT: Bloomberg photo by Peter Juelich. 

By Syndication Washington Post, Bloomberg · Carolynn Look

German businesses are hopeful that Europe’s largest economy will pick up in the first half of next year.

A gauge measuring expectations for the next six months rose to 92.8 in December from 91.8 the previous month, according to the Ifo institute. Companies were also more optimistic about the current situation, a sign that tough new coronavirus restrictions only affect certain sectors.

“Overall the German economy is showing resilience,” Ifo President Clemens Fuest said. Sentiment in manufacturing rose markedly, and confidence in the services sector recovered “somewhat.”

The survey was conducted Dec. 1-17, with a majority of responses received in the first two weeks of the month — before the country’s hard lockdown was officially announced.

Germany’s non-essential shops have been shut since Dec. 16 in an attempt to regain control over spiraling infections, adding to restrictions already in place for restaurants, bars and most recreational institutions. The curbs are in place until Jan. 10, though Chancellor Angela Merkel has already hinted they’re likely to be extended.

“The affected companies and people in the affected sectors have very big problems, and certainly some of them will have to give up,” Fuest said in a Bloomberg Radio interview. Yet the fallout will be limited and “will not completely drag down the economy.”

The nation had fared better than many of its neighbors so far, due to its relatively larger reliance on industry, which has been able to adjust to the pandemic. Economists have recently slashed forecasts for the fourth quarter though, predicting another slump.

Bundesbank President Jens Weidmann warned on Wednesday that the German economy may experience greater strains in the short term than his institution had anticipated in its latest projections. However, he said it’s plausible to assume that medical advancements will allow for a phasing out of restrictions from spring 2021 so a recovery can take hold.

Fuest said German companies indicated they expect the curbs to be lifted by July.