Senate revs up work on $2 trillion spending proposal

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WASHINGTON – Senate Democrats are aiming to vote and approve a roughly $2 trillion package to overhaul the nations health care, education, climate, immigration and tax laws before Christmas, hoping to muscle through a jam-packed schedule to deliver the remaining piece of President Bidens economic agenda.

Writing to lawmakers on Monday, Senate Majority Leader Chuck Schumer, D-N.Y., affirmed the aggressive timeline, warning that there are “more long days and nights” on the horizon as the chamber races to resolve a wide array of fiscal and economic issues before the end of the year.

“This is arduous work. It takes time, precision and a lot of pieces moving together,” he later said on the Senate floor.

Yet the path to passage for Democrats’ signature spending plan appears especially precarious, as party lawmakers continue to contend with political dissent among their own ranks. A pivotal swing vote, Sen. Joe Manchin, D-W.Va., has yet to offer his endorsement of the legislation, even after months of wrangling with the White House.

On Monday, Manchin signaled again that he harbors “concerns” with the size and scope of the bill. And he affirmed his trepidations about advancing so much new spending at a time when inflation continues to raise the price of goods, which Manchin said reflected an economy that is “vulnerable” to other disruptions.

“We’re talking about major changes in our tax code, we’re talking about [a] major overhaul of our social [programs], and we’re talking about a tremendous overhaul of our climate positions that we have,” the senator said.

The $2 trillion proposal, known as the Build Back Better Act, aims to expand Medicare coverage, invest new sums to combat climate change, authorize universal prekindergarten and provide new aid to low-income families, all financed through tax hikes targeting rich Americans and corporations. House Democrats adopted the bill in November, teeing it up for the Senate, where party lawmakers at times have been divided over its size and scope.

From here, the Senate still must rejigger critical parts of the bill to ensure it is compatible with the process known as reconciliation. The legislative maneuver allows Democrats to approve the legislation with 51 votes, rather than the usual 60, sidestepping a guaranteed Republican filibuster in the narrowly divided chamber.

But reconciliation carries its own set of potential headaches, as Democrats must ensure every element of their sprawling tax-and-spending proposal directly implicates the federal budget – or else it is at risk of being stripped out of the measure entirely. Anticipating those issues, lawmakers have been meeting behind the scenes with the chamber’s parliamentarian, a customary process that Schumer said is expected to continue “this week and next.”

In the meantime, Democrats have not settled on some of the finer details of the bill itself. Manchin continues to battle with lawmakers over the inclusion of a program to provide paid family and medical leave to millions of Americans. And other party lawmakers are locked in a still-unresolved dispute over a state-and-local tax proposal that some liberals see as too generous to the wealthy.

The wrangling over the bill only reflects the vast work ahead of Congress just 25 days before the end of the year. Democrats and Republicans still have to approve a bill that would authorize nearly $778 billion in defense spending, for example, which has been mired in bitter disputes around U.S. policy toward China and Russia.

Some lawmakers also have discussed using the annual Pentagon measure to address the unrelated yet critical issue of the debt ceiling, which permits the country to borrow to pay its bills. Congress has nine days until the U.S. government may begin to face difficulty issuing new debt, according to the Treasury Department, though other analyses have said Washington has more time until it crosses that dire fiscal threshold.

Speaking to reporters Monday, House Majority Leader Steny Hoyer, D-Md., said he hopes the chamber can address the debt limit as soon as this week. But he cautioned that the issue is “up in the air,” as Democrats and Republicans work out a potential deal in the Senate. Lawmakers from both parties in recent weeks have labored to avert another political showdown, after GOP lawmakers initially refused to supply votes in the narrowly divided chamber as part of a broader opposition to Biden’s spending priorities.

Schumer, for his part, said Monday that Democrats plan to address the issue soon – declining to offer additional details. But he praised Senate Minority Leader Mitch McConnell, R-Ky., for engaging in productive talks, raising the prospect that Congress could come to a resolution on the debt ceiling well before the debate can wreak any political and economic havoc.

In setting a Christmas deadline for the Build Back Better Act, meanwhile, Schumer sought to continue a strategy of keeping pressure on the Senate, a chamber that isn’t exactly known for swift action. The timing is significant, since the proposal extends a key aid program – expanded, monthly child tax credit – that is set to expire at the end of the year. Unless Congress takes action, millions of Americans will receive their final payments this month, a possibility that prompted some lawmakers on Monday to call on the Senate to make haste.

“American families cannot afford to lose this critical middle-class tax cut, which has cut child poverty in half and helped millions of families afford child care, pay their bills, and put food on the table,” said Rep. Suzan DelBene, D-Wash., the chair of the centrist-leaning New Democrat Coalition, which has pushed for the provision.

Biden himself sounded an eager yet patient note Monday. Asked whether lawmakers can accomplish Schumer’s goal, adopting the spending bill before holiday, he briefly told reporters: “As early as we can get it. We want to get it done no matter how long it takes.”

Published : December 07, 2021

By : The Washington Post

Powells fast-taper signal presages agile Fed on 2022 rates

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Jerome Powells pivot toward a quicker withdrawal of stimulus paves the way for a more agile Federal Reserve in 2022, one thats willing to raise interest rates faster than expected if inflation lingers or hold back if the pandemic worsens.

Powell, recently picked for another four years as chair, is responding to hot readings on the economy that caught officials by surprise, including signs that inflation is spreading and labor supply is still limited despite falling unemployment.

Investors can expect stepped-up Fed communication of an evolving outlook for employment and inflation that stresses flexibility amid uncertainty over the pandemic and new virus strains. The ultra-gradual normalization that marked the Fed’s retreat from stimulus after the 2008-2009 financial crisis is not a template for this Fed, which is facing something policy makers haven’t had to confront in decades: booming growth and soaring prices.

“They are shifting,” said Anna Wong, chief U.S. economist at Bloomberg Economics and a former Fed Board staffer. “What we are seeing is more weight being put on the discretionary part of policy-making, given the large forecast errors on inflation.”

Powell told U.S. lawmakers last week it was time to “retire” the Fed’s description of high inflation as “transitory,” a stance it held fast to for most of 2021 and which left it doling out stimulus even as some called for it to pull back on as inflation accelerated.

During hearings in which he heard bipartisan complaints about the harm of high prices, he also said officials meeting Dec. 14-15 would consider ending their asset purchase program a few months earlier than initially planned in mid-2022. They will also release fresh rate forecasts, which in September saw them evenly split over raising rates next year.

The broadly-signaled policy pivot, coming shortly before the meeting, already has some analysts boosting their outlook for interest rates next year.

“We are moving to a three-hike baseline for 2022 with 25 basis-point rate increases in June, September and December,” Evercore’s Krishna Guha and Peter Williams wrote in a note Friday.

Such a path may depend on the impact of the new omicron variant of the coronavirus. In a weekend report, Goldman Sachs economists cut their forecasts for the U.S. economy this year and next after deciding the strain’s spread would exert a “modest downside” drag on growth.

Powell’s signal, just weeks after the Nov. 2-3 Fed meeting at which the taper was announced, responds to an economic recovery that has surprised officials at every turn. That intensified in the days leading up to and shortly after the decision.

Employment costs rose at a record pace, according to data just days before officials gathered. A week later, a government report showed consumer prices rose in October by the fastest pace in three decades. That month’s jobs report also came in strong. But the labor market continued to see fewer workers re-entering than anticipated, despite the wide availability of coronavirus vaccines and the reopening of schools. And underlying demand is solid — retail sales rose in October by the most in 7 months — with estimates of fourth-quarter growth remaining strong.

Other Fed officials began suggesting the need to remove policy support faster soon after the taper was announced.

Fed Vice Chair Richard Clarida, Governor Chris Waller, Cleveland Fed President Loretta Mester and Atlanta Fed President Raphael Bostic have all said they were open to a faster removal of policy support, as did San Francisco Fed President Mary Daly, who is usually a policy dove. James Bullard of St. Louis, who’s been pushing to speed up the taper for a while, said Friday he favored wrapping up in March.

“When inflation is a problem, there are no doves,” said Laurence Meyer, a former Fed governor, who was struck by how fast officials began publicly questioning their own policy decision. “Can you ever think of a time when they announced a decision, and before they actually start it, are changing it? I can’t.”

Notably silent throughout this period were two prominent U.S. central bankers: Powell himself, and Governor Lael Brainard, who were both being considered for the chairmanship.

President Joe Biden announced Nov. 22 that Powell would be renominated while Brainard would be elevated to vice chair to replace Clarida, whose term as a governor expires in January.

Eight days later, Powell added his voice to the discussion, telling senators that it was time to discuss whether the Fed should “wrap up” asset purchases more quickly.

He also told the Senate Banking Committee that, given the wedges in the labor market now with the virus still out there, it would take more time to get workers back. That’s why getting inflation under control now was critical to his labor market goal, he explained.

“We’re going to need a long expansion; to get that we’re going to need price stability,” Powell said. “And in a sense, the risk of persistently high inflation is also a major risk to getting back to such a labor market.”

In part because the Fed made much of its maximum employment goal being “broad-based and inclusive” when it updated its policy framework last year, progressives are likely to hold Powell accountable to those terms as the central bank approaches tightening in 2022.

In the near term, though, both Democrats and Republicans want Powell to do something about inflation. That’s a big political gift for the Fed, since historically lawmakers tend to pressure the central bank to keep borrowing costs low.

“We’ve got to get control of inflation; it’s ravaging our people,” Louisiana Republican Senator John Kennedy told Powell during the hearing.

Published : December 07, 2021

By : Bloomberg

Stocks surge in rebound after volatile week

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U.S. equities rebounded from Fridays selloff as investors took comfort in reports that cases of the omicron variant have been relatively mild.

The S&P 500 rose 1.6%, erasing last week’s losses, while the technology-heavy Nasdaq 100 gained 1.1%.

The mood across markets was calmer on Monday as investors pointed to good news from South Africa that showed hospitals haven’t been overwhelmed by the latest wave of Covid cases. However, the Cboe volatility index remains elevated.

“Although we do expect this volatility to continue, it very well could be a buying opportunity,” said Ryan Detrick, chief market strategist at LPL Financial, in a note. “We’ve been living with Covid-19 for more than 20 months now. We’ve seen several variants and managed to move forward, and we expect a similar playbook to work once again.”

Oil rose after Saudi Arabia boosted crude prices, signaling confidence in the demand outlook. U.S. natural gas fell on forecasts for warmer weather, easing some previous inflationary pressures. And the 10-year Treasury yield advanced to 1.43%.

Initial data from South Africa are “a bit encouraging regarding the severity,” Anthony Fauci, U.S. President Joe Biden’s chief medical adviser, said on Sunday. Though, at the same time, he cautioned that it’s too early to be definitive.

“Admittedly, we don’t know how effective current vaccines are against omicron, or how transmissible it is, but we do know that the appetite for another nationwide shutdown is quite low and that these questions should be answered over the coming weeks,” Detrick said.

The VIX, or so-called fear gauge, fell roughly four points to 27 on Monday after it failed to initially match a high corresponding to when the S&P 500 dropped below its Sept. 20 low last week.

“That marked the beginning of what turned out to be the strongest October rally since 2015,” said Chris Larkin, managing director of trading at E*Trade Financial. “While past is rarely prologue, it should give seasoned traders out there something to think about. This suggests reduced volatility concerns even though the market had fallen to fresh lows.”

The Stoxx Europe 600 index gained 1.3% while shares in Japan, China and Hong Kong fell. Evergrande’s dollar bonds fell sharply and shares plunged 20% to a record low after the firm moved closer to a debt restructuring. China also cut the amount of cash most banks must hold in reserve, acting to counter the economic slowdown in a move that puts its central bank on a different policy path than many of its peers.

Later this week, attention will turn to U.S. consumer price index, which is expected to show the largest annual advance in decades, keeping pressure on the Federal Reserve to deliver swifter policy tightening.

“As it stands, the Fed are increasingly likely to accelerate their taper next week with a market that is worried that it’s a policy error,” said Jim Reid, head of thematic research at Deutsche Bank. “I don’t think it is as I think the Fed is way behind the curve.”

– – –

Some of the main moves in markets:

Stocks

–The S&P 500 rose 1.6% as of 2:05 p.m. New York time

–The Nasdaq 100 rose 1.1%

–The Dow Jones Industrial Average rose 2.1%

–The MSCI World index rose 1%

Currencies

–The Bloomberg Dollar Spot Index was little changed

–The euro fell 0.3% to $1.1282

–The British pound rose 0.2% to $1.3263

–The Japanese yen fell 0.6% to 113.53 per dollar

Bonds

–The yield on 10-year Treasuries advanced nine basis points to 1.44%

–Germany’s 10-year yield was little changed at -0.39%

–Britain’s 10-year yield declined one basis point to 0.74%

Commodities

–West Texas Intermediate crude rose 4.3% to $69.14 a barrel

–Gold futures fell 0.2% to $1,779.80 an ounce

Published : December 07, 2021

By : Bloomberg

TGO Certifies BTS Group “Carbon Neutral”, the world’s first for a Rail Company

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The collaboration between BTS Group and TGO is a joint effort to raise awareness and fight against climate change.

Thailand Greenhouse Gas Management Organisation (TGO), the autonomous Government entity with responsibility for reducing greenhouse gas in Thailand, has certified BTS Group Holdings PCL (BTS Group) as carbon neutral, making it the first carbon neutral rail transportation company in the world.

The collaboration between BTS Group and TGO is a joint effort to raise awareness and fight against climate change. This achievement was also as a result of BTS Group’s sustainable business direction to reduce emissions that come predominantly from its electricity consumption. At the same time, this will help Thailand to achieve its nationally determined contributions to reduce greenhouse gases in accordance with the Paris Climate Agreement as well as its long term target of carbon neutrality by 2050.

Mr. Kiatchai Maitriwong, Executive Director of TGO elaborated “As the key agency for driving greenhouse gas mitigation in Thailand towards sustainable low-carbon economy and society, TGO welcomes the strong corporate commitments of companies like BTS Group. TGO, encourages collaboration with all market participants, in order to tackle climate problems and look forward to seeing the participation of all sectors to push Thailand to reach the target of reducing greenhouse gases as set”.

BTS Group, under its 3M Strategy, provides door-to-door transportation services, and is a leading provider of rail transportation services in Thailand. Through providing electrified rail transportation services, which emit zero carbon emissions, it gives consumers the option to shift their travel mode away from other carbon emitting forms of transport, also helping reduce congestion and improving air quality in Bangkok.

TGO Certifies BTS Group “Carbon Neutral”, the world’s first for a Rail Company

Mr. Kavin Kanjanapas, CEO of BTS Group added “Environmental responsibility is just one of the sustainable business practices that we prioritise at BTS Group, a company that is steered to solving urban issues. This year, we marked a notable step by implementing the voluntary carbon offsetting schemes under TGO by joining a carbon credit programme with Mitr Phol Bio-Power project. As a result, we take a great honour in becoming the first rail transportation company to be certified as carbon neutral by the TGO. Even though our core rail business has helped improve air quality and reduce traffic in Bangkok for decades now, we want our carbon neutrality to serve as a signal for others to follow.”

Published : December 04, 2021

GIZ – UNEP highlight the need for new consumption patterns through sustainability information

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Bangkok, 30 November 2021 – GIZ Thailand in collaboration with the United Nations Environment Program (UNEP)’s One Planet Network organised an online regional knowledge sharing event titled “Changing consumption patterns through sustainability information”.

The gathering brought together policymakers, businesses, organisations and individuals from Europe and Asia who shared the innovative policies, tools and business models that promote sustainable consumption.

Sustainable consumption plays a central role in achieving sustainability and climate protection goals. Ensuring sustainability in consumption patterns requires a multidisciplinary and multinational approach and cannot be solved by any one actor. In view of the climate emergency and the COVID-19 pandemic, the need to shift the way we consume resources has come into the spotlight. There is great potential to reduce greenhouse gas (GHG) emissions and an opportunity to build recovery plans through more sustainable consumption.

In her welcoming and opening remarks, Ms. Preeyaporn Suwanaged, Deputy Director General, Pollution Control Department, Ministry of Natural Resources and Environment of Thailand, stated: “The Government of Thailand places great emphasis on the promotion of sustainable consumption and production (SCP). To do so, we have formulated policies, measures and mechanisms to advance Green Public Procurement (GPP). In the Thai GPP Phase 2, it is estimated that environmental benefit is valued at approximately 79 billion baht, and CO2 emission reduction accounts for around 11-million-tons CO2e for full implementation. We are currently in the process of drafting the new GPP Action Plan 2021-2027 which focuses on increasing environment-friendly products and services in the market and procurement system, promoting production and providing environment-friendly products and services, and using economic and legislative instruments to support the promotion of such products and services.”

“Thailand is proud to have played a part in fostering knowledge and experience sharing. I would especially like to thank the German Government for their continuous support in the financing of the Proliferation of Sustainable Consumption and Production (SCP) in Asia – the Next 5 Countries (SCP Outreach) project,” she added.

GIZ - UNEP highlight the need for new consumption patterns through sustainability information

In his opening and keynote address titled “German and European Policies on Consumer Information”, Dr. Ulf Jaeckel, Head of Division of Sustainable Consumer Protection, Product-related Environmental Protection, the German Federal Ministry for Environment, Nature Conservation, and Nuclear Safety (BMU), stated: “Our goal is for consumers, the environment and the climate to benefit from products that are more durable, reusable, repairable, recyclable, and energy-efficient.  To achieve this, Germany is committed to working with countries around the world to modernise policies and instruments and assist others in their transition to a low-carbon society. For more than 10 years, we have worked together with our partner countries in Asia to integrate climate-friendly criteria into eco-labels, generate markets for eco-labelled products, and empower consumers to consume sustainably.”

In closing, Mr. Kai Hofmann, Project Director of Sustainable Consumption and Production Hub, GIZ, said: “All over the world, consumers have become more conscious of the environment and we see that governments, companies and organisations are responding. Take for example, IKEA Thailand, which has just launched a Circular Shop, a buy-back and resale service that seeks to extend product life, reduce raw materials and promote reuse. Another example is from South Korea where in 2011, the Ministry of Environment and the Korea Environment Industry and Technology Institute introduced a Green Credit Card to promote eco-friendly lifestyles. When purchasing eco-friendly products and services from participating businesses, customers receive reward points.”

“Enabling consumers to make informed choices does not imply that the sole responsibility to reduce the adverse effects of product manufacturing and consumption on society and the environment lies with consumers. Sustainable consumption and production can only be achieved if all stakeholders play their parts,” Mr. Hofmann added.

Published : December 03, 2021

By : THE NATION

Sustainability and innovation in real estate celebrated at the Dot Property Thailand Awards 2021

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Sustainability and innovation in real estate were the key themes at the Dot Property Thailand Awards 2021 as the country’s top developers, projects and real estate agencies build for a better future. A total of 32 winners were honored this year.

Sustainability and innovation in real estate were the key themes at the Dot Property Thailand Awards 2021 as the country’s top developers, projects and real estate agencies build for a better future. A total of 32 winners were honored this year.

Developer MQDC has introduced a number of cutting-edge sustainability features as well as several never before seen innovations to Thailand at The Forestias. These efforts were recognized with five awards, including Developer of The Year Thailand 2021 and Best Innovative Development.

The public also gave its stamp of approval to MQDC and The Forestias as the development won Thailand People’s Choice Award for Project of the Year 2021. There were 12 projects nominated with voting taking place in early November.

“Winning these awards makes us very proud. It makes us feel like we are developing The Forestias in the right direction. We don’t only want to develop a good project, we want it to be one of the best projects in the world,” Khun Kittiphun Ouiyamaphun, MQDC Senior Vice President, proclaims.

SC Asset, winner of Developer of The Year Thailand 2020 and the Thailand People’s Choice Award for Project of the Year 2019, earned a pair of honors in 2021 for their work in the housing sector. Notable developer winners include Pieamsuk Property Development and Navarang Asset while Nichada Group of Companies was named Best Lifestyle Developer.

Sustainability and innovation in real estate celebrated at the Dot Property Thailand Awards 2021

Developer of The Year Thailand 2021 – MQDC

Dot Property Thailand Awards 2021 developer winners:

Best Boutique Developer (Luxury Villas) – Dynasty Development

Best Lifestyle Developer Koh Samui – SGQ DESIGN AND CONSTRUCTION COMPANY

Best Boutique Housing Developer Phuket – Zenithy Development

Best Boutique Developer Koh Samui – LDR Group

Best Housing Developer – Pieamsuk Property Development

Best Developer Residential High-Rise – Navarang Asset Co

Best Lifestyle Developer – Nichada Group of Companies

Best Breakthrough Developer Phuket – Andaman Asset Solution

In the project categories, Raimon Land once again proved its expertise in creating upscale developments by winning Best Luxury Condominium Bangkok for the second time with Tait Sathorn 12 honored.

Life Sathorn Sierra from AP and Noble Form Thonglor from Noble Development were among the other notable Bangkok projects to win in 2021. Outside of the capital, Andaman Asset scored three awards for its work in Phuket while Santi Pura Villas was named Best Villa Architectural Design Koh Samui.

Sustainability and innovation in real estate celebrated at the Dot Property Thailand Awards 2021

Thailand People’s Choice Award for Project of the Year 2021 – The Forestias

Dot Property Thailand Awards 2021 project winners:

Best Green Development – The Forestias from MQDC

Best Innovative Development – The Forestias from MQDC

Best Sustainable Residential Development – The Forestias from MQDC

Best Luxury Housing Development – Grand Bangkok Boulevard East Rama 9 from SC Asset

Best New Launch Villa Development – Bangkok Boulevard Donmueang – Chaengwatthana from SC Asset

Best Luxury Condominium Bangkok – Tait Sathorn 12 from Raimon Land

Best New Launch Condominium Bangkok – Noble Form Thonglor from Noble Development

Best Affordable Condominium Bangkok – Life Sathorn Sierra from AP (Thailand)

Best Villa Architectural Design Koh Samui – Santi Pura Villas from LDR Group

Best Boutique Housing Development / Eastern Seaboard – The Plantation Estates from Base Real Estate

Best Luxury Condominium Eastern Seaboard – Arom Wongamat

Best Luxury Villa Development Phuket – Anchan Hills from Pearl Island Property

Best Urban Lifestyle Development Phuket – The Residence from Andaman Asset Solution

Best New Launch Villa Phuket – The Victory from Andaman Asset Solution

Best Luxury Townhome Phuket – The Residence from Andaman Asset Solution

Best Affordable Housing Development Hua Hin – The Village from Boontani36

Thailand’s Best Real Estate Agencies 2021 featured six winners from across the country. Phuket’s Coldwell Banker SEA Property, Pattaya’s PBRE Real Estate and Bangkok’s Shinyu Real Estate were a few of the firms honored.

Sustainability and innovation in real estate celebrated at the Dot Property Thailand Awards 2021

Thailand’s Best Real Estate Agencies 2021

PBRE Real Estate

Pearl Property Pattaya

Shinyu Real Estate

CMP Realty

Coldwell Banker SEA Property

Forbest Properties

“Sustainability and innovation are extremely important for the real estate sector and this year’s winners are leading the way. These efforts have been recognized both from within the industry and outside of it as we see The Forestias winning Thailand People’s Choice Award for Project of the Year 2021,” Adam Sutcliffe, Dot Property Group Director, Events and International Markets, says. “Despite facing challenges related to the pandemic, all 30 winners displayed resiliency and helped carry the property market forward during a difficult year.”

The Dot Property Thailand Awards 2021 would like to thank Savills Thailand and their CEO Robert Collins for serving as official Awards Consultants. A special mention also goes to official venue partner Park Hyatt Bangkok and VIP Transportation provider Mercedes-Benz Primus Autohaus for their continued support.

For more information on the Dot Property Awards, please visit www.thailand-property.com/events

Published : December 03, 2021

The Standard, Hua Hin To Host A Holistic Wellness Retreat With Innovative Workshops and Live DJ Performances

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The Standard, Hua Hin, the vibrant seafront retreat, unveils a thoughtful three-day event with all female-led sessions. From free-diving and breathing experts to meditation and yoga, set to the backdrop of Standard Sounds and embellished with cannabis-based body care products.

The Standard, Hua Hin’s newest and most sought after resort where buzzing beach vibes meet mid-century design, is inviting guests to unwind on the shores of the Gulf of Thailand this December when it hosts an upbeat wellness retreat with a musical and spiritual twist.

Running from 4th-6th December, 2021, this inspiring event will feature some of the world’s pioneering female wellness practitioners coming together for the first time in Thailand to create a holistic and highly original mind and body program that will soothe and stimulate in equal measures.

The retreat is in partnership with Rainbow Cannabliss, a unique brand that embraces the healing power of cannabis in a range of products, from body and hair oils to scrubs and teas. Founded by two siblings, Note Panayanggool (Notep), an artist, musician and conservationist, and Nont Panayanggool, an entrepreneur, chef and elite athlete, this product range was originally developed to help relieve pain from sports injuries. Now adapted and expanded into a comprehensive, eco-friendly collection, this cannabis-based range will be showcased in an insightful exhibition.

The Standard’s fragrant tropical gardens will set the stage for a series of expert-led classes, including yoga, meditation and breathing, all set to the backdrop of invigorating, uplifting music.

The Standard, Hua Hin To Host A Holistic Wellness Retreat With Innovative Workshops and Live DJ Performances

Notep, who has performed DJ sets all around the world, including USA, Italy, France, Hong Kong and Japan, will host an active meditation and sound healing session, enhanced by Rainbow Mood tea. This deeply spiritual workshop will allow guests to experience intense exhilaration through deep beats that flow through the core of the body and penetrate the senses.

Linda Salas, a creative consultant, and yoga instructor from California, will also be flying in to practice yoga therapy to the backdrop of live DJ tunes. Linda strives to guide her students through physical poses by harmonizing the rhythm of their breath with the beat of the music. The goal is to let guests find personal peace and restoration, while also building balance in the body. This class will also be uplifted by Rainbow Mood tea.

The Standard, Hua Hin To Host A Holistic Wellness Retreat With Innovative Workshops and Live DJ Performances

Controlled breathing is an essential element of mental and physical health, but all too often it is overlooked during our fast-paced lives. The Standard’s Wellness Retreat will introduce breathing workshops by Namasti, which was founded by two experienced female free-divers. Following many happy years in the water, Natalia and Charis are now using their unique skills to help other people enhance their mindfulness.

Natalia, a functional breathing and yoga specialist, and Charis, a free-diving instructor and health coach, will oversee two immersive sessions, “Beyond the Breath” (free-diving basics and breath-holding) and “Breathing Fundamentals” (breath and our health).

The Standard, Hua Hin To Host A Holistic Wellness Retreat With Innovative Workshops and Live DJ Performances

Finally, the evenings will be enlivened by Standard Sounds, the first in a series of live music nights and DJ sets that will ignite this stunning seafront retreat. Note P will be joined by DJ Myle, a top artist from Switzerland who has performed to massive crowds all around the globe and is known for her deep, melodic, emotional, and organic beats. These two female talents will come together at sunset for a duo set with a strong wellness focus.

There will be 4 sessions each day, starting from 8 a.m. until the last session ends at 6.30 p.m., with the maximum of 30 people per session, including:

Yoga to live DJ and sound healing with Rainbow Mood tea

Active meditation, sound healing with Rainbow Mood tea

Breathing Fundamentals (The breath and our health)

The art of relaxation (The Science of feeling safe)

Beyond the breath (Freediving basic and breath holding)

Sound healing and ecstatic dance to live DJ with Rainbow Mood Tea

The Standard, Hua Hin To Host A Holistic Wellness Retreat With Innovative Workshops and Live DJ Performances

Entry is free for all guests. Advanced reservation is required. For more information please visit https://www.standardhotels.com/hua-hin/happenings/the-standard-presents-bliss-out-by-notep and to make a reservation, please contact (032-535-999) or shh.spa@standardhotels.com

Newly opened on December 1, 2021, The Standard, Hua Hin brings a vibrant Miami vibe to Thailand’s golden gulf coast. With 199 rooms, suites and villas, a mid-century inspired pool bar, an Italian restaurant, a beachfront Thai cuisine and juice café all set in lush tropical gardens. This stylish seafront hotel is set to attract experience-seeking travellers from around the world.

The Standard hotels are in landmark destinations across the globe, from Miami to the Maldives, London to New York, Hollywood to Hua Hin. For more information, please visit www.standardhotels.com.

Published : December 03, 2021

‘XSpring’ reaffirms its Digital Asset Leadership through “Siam Piwat” partnership to revolutionize the retail & digital asset industry

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https://www.nationthailand.com/pr-news/business/40009539


‘XSpring’ reaffirms its Digital Asset Leadership through “Siam Piwat” partnership to revolutionize the retail & digital asset industry by connecting the “Global Platforms” and enrich the “Global Citizen”

XSpring Capital Public Co., Ltd. (XPG), Thailand’s leading integrated financial service provider, revealed its subsidiary, XSpring Digital Co Ltd, has officially been granted 4 additional licenses (currently awaiting approval from the Office of the Securities and Exchange Commission to commence operations), readying itself to become the one-stop service provider for digital finance and investment with the most comprehensive licensed platforms in Thailand.

XSpring has also announced a strategic partnership with Siam Piwat Co., Ltd, the owner and operator of leading retail destinations Siam Paragon, Siam Center, Siam Discovery, and a joint-venture partner of ICONSIAM and Siam Premium Outlets Bangkok. This landmark collaboration will revolutionize the Thai retail and digital asset industries, creating a new phenomenon in the business ecosystem and will offer a fully integrated digital experience starting from the first quarter of 2022.

Rathian Srimongkol, Chairman of XSpring Capital Public Co., Ltd. (XPG), said “XPG is an integrated financial service provider which has a goal to transform the traditional financial world into a more innovative future, by leveraging its expertise with digital technology and integration with the financial industry of today to create the digital financial world of the future, to enable everyone easier access to the world of finance and investment.

This year marks a momentous year of changes and exponential growth for XSpring, especially now that it has been entrusted by the Siam Piwat Group to become its digital asset advisor, to integrate the digital assets for the Group’s four shopping centers. This is considered a phenomenal collaboration in providing a new online shopping experience and a new investment scheme to deliver worthy privileges to customers via a seamless connection with 20 partners in a joint and integrated format that goes beyond digital assets. XSpring also has experience and service coverage that engulfs other financial products including equity, debentures and funds that enable it to create a digital ecosystem connecting online and offline worlds for a sustainable, long-term future.

Because of XSpring’s superlative strengths, we are readied to support our partners in every aspect to deliver unbounded and limitless experiences to customers as the one-stop, digital finance and investment service provider which has obtained additional licenses from the Finance Minister to conduct digital asset business; from the Office of the Securities and Exchange Commission (SEC) to operate as an ICO Portal, and from the Finance Minister to perform as a cryptocurrency broker, digital token broker, cryptocurrency dealer, and digital token dealer (now awaiting for SEC’s approval to commence these businesses), enabling a one-stop integrated digital finance and investment services to investors in order to obtain both cryptocurrency and digital token transactions, in both primary and secondary marketplacesconnecting both Thai and overseas exchanges in response to the growth of digital finance globally andproviding a seamless, end-to-end service all “under the one roof”.

This collaboration pact, expected to begin by the first quarter of 2022, will also help Siam Piwat and its alliances to expand their customer bases to cover investors and other high purchasing-power consumer groups.”

Chadatip Chutrakul, Chief Executive Officer of Siam Piwat Co., Ltd., the owner and operator of prestigious world-renowned retail developmentssuch as Siam Paragon, Siam Center, Siam Discovery, and a joint venture partner of ICONSIAM and Siam Premium Outlets, said: “Siam Piwat, under the new chapter as the leading creator in the retail business, or ‘the Visionary Icon’, that advocates in offering unprecedented, unique and first-ever experiences in both shopping centers and the digital world, is very pleased to synergize with a leading strategic partner like XSpring to conduct a feasibility study on digital assets that will fulfill and support Siam Piwat Group’s ecosystem to gain the highest strength and perfection, offering integrated digital experiences to our customers and business partners, and readying us to connect with global platforms to strengthen our customer base toward the “global citizens” segment. This phenomenal partnership is the first of its kind in Thailand.”

This collaboration between two leading partners, “XSpring” and “Siam Piwat”, will help elevate Thailand’s digital asset industry, connecting global investment marketplaces, while completely transforming the digital economy ecosystem for the 21st century.

Published : December 02, 2021

XSpring has obtained all 4 Digital Asset Licenses from he Ministry of Finance

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https://www.nationthailand.com/pr-news/business/40009535


XSpring has obtained all 4 Digital Asset Licenses from he Ministry of Finance, under the supervision of the SEC, readying to offer an integrated, one-stop digital finance service that connects seamlessly with global exchange platforms

• XSpring Digital has acquired 4 additional licenses, ready to commence the following services in Q1, 2022: cryptocurrency broker, digital token broker, cryptocurrency dealer, and digital token dealer. Combined with ICO Portal, XSpring has already obtained 4 licenses and 1 ICO Portal, becoming the first company in Thailand to receive a complete set of 5 digital asset licenses.    

• Moving ahead to provide an integrated, one-stop digital finance service, covering transactions in both primary and secondary marketplaces.

• Borderless transactions through connecting global digital asset exchange platforms, readying to serve investors in all their needs in one place.

XSpring Capital Public Co., Ltd. (XPG) today announces that XSpring Digital, its subsidiary company, has officially been granted 4 licenses comprising of: 1. Cryptocurrency Brokerage License 2. Digital Token Brokerage License 3. Cryptocurrency Dealer License and 4. Digital Token Dealer License. Furthermore, the company has been approved by the Office of the Securities and Exchange Commission (SEC) to operate as an initial coin offering (ICO) portal.  The company is stepping ahead to become one of the first “one-stop” providers of digital finance and investment services in Thailand, operating with a strong capital base of over THB10,000 million, readying to capture the growth of digital finance markets worldwide which is expected to exceed 40 trillion baht in 2022.

XSpring has obtained all 4 Digital Asset Licenses from he Ministry of FinanceMs. Warangkana Akharathaphon, President of XSpring Capital Public Co., Ltd., said “In August 2021, we announced our business plan to step into the finance and securities business as an integrated financial service provider and leverage our financial expertise toward digital finance services through 3 key strengths – partnership, a strong recapitalized base, and a full set of licenses that enable us to provide an integrated range of services to investors.  XSpring previously had a shareholder capital of 3,094 million and has recently raised funds by another THB7,111 million, establishing a strong financial position and ample liquidity with capital on hand exceeding THB10 billion. The company is shifting up a gear to pursue its business development plans, especially in the digital asset business, one of its core businesses that it will give extra emphasis to, to better serve the current financial market needs, it will achieve this by focusing on the development of digital investment platforms and creating a financial service ecosystem via its digital business subsidiary, XSpring Digital Co., Ltd.”

Following the capital increase, XSpring has steered ahead at full steam with its “Transformation & Leap Forward” business plan, one part of which is XSpring Digital’s winning of the ICO Portal license from the SEC and also its recent public offering of “SiriHub Investment Tokens”, Thailand’s first real estate backed ICO under the supervision of the SEC. The process was highly successful and was fully subscribed by investors.

Today, XSpring Digital has officially won 4 additional licenses and will be readied to commence the following services in the first quarter of 2022: 1. Cryptocurrency Broker 2. Digital Token Broker 3. Cryptocurrency Dealer and 4. Digital Token Dealer.  This has enabled the company to offer integrated, one-stop, digital finance and investment services to investors who will be able to trade both cryptocurrencies and digital tokens, in both primary and secondary markets, through a single service provider.

“XSpring Digital’s One-Stop Service connects digital asset exchange platforms both in Thailand and overseas, providing convenience to investors so they don’t have to open accounts with other exchanges. After this, we will develop various digital platforms including websites and applications to facilitate all cryptocurrencies and digital tokens transactions in one place, utilizing a user-friendly interface to allow investors to conveniently trade digital assets from anywhere, around-the-clock. Investors will be able to conveniently monitor their portfolios regardless of the transactions being pursued on the primary or on the secondary marketplaces of XSpring’s partners,” Warangkana said.

XSpring Capital reported a satisfactory operating result during the first half of 2021. XSpring’s income, including share of profits from joint investment companies, in the 6-months period totaled THB167 million, higher than the THB141 million booked for the entire 2020. It recorded a net profit of THB65 million, up by a staggering 791% from a year ago, signaling a clear and positive trend. Therefore, the company is confident that with this solid business plan, it will be able to consistently raise its revenues and profits and expect to witness a jump of revenues in 2022.

Furthermore, XSpring Capital has several strategic partnerships that will be instrumental in its drive toward accomplishing its goal of becoming a leading provider of integrated finance and investment services that will transform the traditional world of finance and investment into the digital finance and investment of the future. This will be accomplished through utilizing advanced digital technology to enable everyone to conveniently access the world of finance and investment, while laying down a strong foundation through the development of a digital asset ecosystem in Thailand that will leapfrog the Kingdom to establish itself as a global prototype in this industry.

Published : December 02, 2021

Central denies acquiring famous British department store chain Selfridges

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https://www.nationthailand.com/business/40009584


The Central Retail Corporation (CRC) dismissed recent media reports that it has bought the famous British luxury department store chain, Selfridges, for 180 billion baht.

CRC’s chief executive officer Yol Phokasub also wrote to the Stock Exchange of Thailand (SET) denying reports published in the UK saying that Central had acquired the Selfridges group.

Selfridges, which was founded in 1908 and is an integral part of British popular culture, is owned by the Canada-based Weston family. It runs 25 luxury stores worldwide, including its flagship store on London’s Oxford Street. 

Central denies acquiring famous British department store chain Selfridges
CRC said the news was first published on November 12, when it was consulting a bank about buying Selfridges. However, it said, the widely reported claim that it has struck a 4-billion pound deal with Selfridges is completely false. 


It is believed that CRC’s acquisition of several luxury department stores in Europe since 2011 may have sparked these rumours. Central has taken over Alsterhaus, KaDeWe and Oberpollinger department stores in Germany, La Rinascente in Italy, Illum in Denmark and Globus in Switzerland.

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Published : December 03, 2021

By : THE NATION