The Stock Exchange of Thailand (SET) Index closed at 1,624.31 on Thursday, down 3.30 points or 0.20 per cent. Transactions totalled 74.09 billion baht with an index high of 1,632.30 and a low of 1,622.56.
The index dropped for the second day running after falling by 8.36 points or 0.51 per cent on Wednesday.
In the morning session, Krungsri Securities forecast the SET Index on Thursday would fall to between 1,615 and 1,620 points.
It said negative sentiment of falling oil price after the US oil storage had risen by 4.3 million barrels, plus mass sell-offs of shares amid worries over the European Central Bank would taper its quantitative easing (QE) programme during the meeting, would pressure the index.
“However, mass buy-ups of shares whose third-quarter profit is expected to grow would help the index to rebound,” Krungsri Securities said.
The 10 stocks with the highest trade value today were BANPU, GULF, PTT, PTTEP, CBG, KBANK, SCC, PTTGC, IVL and GPSC.
Other Asian indices were on the fall:
Japan’s Nikkei Index closed at 28,820.09, down 278.15 points or 0.96 per cent.
China’s Shanghai SE Composite closed at 3,518.42, down 43.89 points or 1.23 per cent, while the Shenzhen SE Component closed at 14,244.82, down 148.69 points or 1.03 per cent.
Hong Kong’s Hang Seng Index closed at 25,555.73, down 73.01 points or 0.28 per cent.
South Korea’s KOSPI Index closed at 3,009.55, down 15.94 points or 0.53 per cent.
Taiwan’s TAIEX Index closed at 17,041.63, down 32.92 points or 0.19 per cent.
Today at its Connect 2021 conference, CEO Mark Zuckerberg introduced Meta, bringing together Facebooks apps and technologies under one new company brand, as it focuses on bringing the metaverse to life and helping people connect, find communities, and grow businesses.
In a founder’s letter, Mark Zuckerberg laid out the vision for the metaverse that will feel like a hybrid of today’s online social experiences, sometimes expanding into three dimensions or projected into the physical world. It will let people share immersive experiences with others even when unable to be together — and do things together that couldn’t be done in the physical world.
Speaking during his keynote, Mark Zuckerberg said, “I’m proud of what we’ve built so far, and excited about what comes next – as we move beyond what’s possible today, beyond the constraints of screens, beyond the limits of distance and physics – and towards a future where everyone can be present with each other, create new opportunities, and experience new things. It’s a future that is beyond any one company and that will be made by all of us.”
Mark Zuckerberg and Meta Welcome You to the Metaverse with New Company Vision Announced at Connect 2021
The metaverse is the latest example of how Meta builds technologies that help people connect, find communities, and grow together. When Facebook launched in 2004, it changed the way people connected and apps like Messenger and Instagram have further empowered billions around the world. Now, Meta is moving beyond 2D screens towards immersive experiences like augmented and virtual reality, marking the next evolution in a long line of social technologies and ushering in a new chapter for the company.
The announcement was made at this year’s annual Connect conference, bringing together augmented and virtual reality developers, content creators, marketers, and others to celebrate the industry’s momentum and growth, explored what experiences in the metaverse could feel like over the next decade — from social connection, to entertainment, gaming, fitness, work, education, and commerce.
The company also announced new tools to help people build for the metaverse, including Presence Platform, which will enable the next generation of mixed reality experiences on Quest 2, and the steps the company is taking to realize the full social potential of the metaverse in the future, including a $150-million investment in immersive learning to train the next generation of creators.
Mark Zuckerberg and Meta Welcome You to the Metaverse with New Company Vision Announced at Connect 2021
Mark Zuckerberg emphasized during the announcement, “Right now, our brand is so tightly linked to one product that it can’t possibly represent everything that we’re doing today, let alone in the future. Over time, I hope that we are seen as a metaverse company, and I want to anchor our work and identity on what we’re building toward.”
Watch the full Connect keynote and learn more about how the metaverse will unlock new opportunities at meta.com. You can also learn more about the work to develop the Meta brand at the company’s design blog.
Mark Zuckerberg and Meta Welcome You to the Metaverse with New Company Vision Announced at Connect 2021
How startups can take crucial part in driving the new world economy?
In the past few years, the business model known as Startup is seen as a rising star business with an exponential growth rate and plays an important role in driving the global economy. Although there are many organizations succeeded. But there are many businesses that have failed to continue. How startups can take crucial part in driving the new world economy?
See you at “Thailand Startup in the Post-Covid Era” on October 29, 2021, from 2PM to 4PM
In tandem, CKPower has adopted strategies that will help drive Thailand towards becoming a net-zero carbon society
While the COVID-19 pandemic has brought many businesses to a halt in 2021, CK Power Public Company Limited (CKPower), stock symbol “CKP”, a producer and distributor of clean renewable energy-based power has been able to continue its production both in Thailand and the Lao PDR without interruption.
Mr. Thanawat Trivisvavet, Managing Director of CKPower, said, “A testament to CKPower’s effective management is being placed on the Thailand Sustainability Investment (THSI) list for the second consecutive year. This success is due to our management approach which has been adapted to suit the new normal for all plants, both local and international, as well as effective operational measures that strictly comply with the guidelines of the World Health Organization, the Government, and the Ministry of Public Health. All this has helped reduce emerging risks and enhance our capabilities to address new challenges in the future.
Furthermore, the Company has prioritized the health and safety of our employees to ensure business continuity and operational effectiveness as well as providing assistance to society to help everyone navigate through this crisis together,” added Mr. Thanawat.
CKPower’s inclusion on the THSI list also underscores CKPower’s commitment to sustainable business operations and environmental, social, and governance (ESG) practices, as evident in the strategies CKPower has formulated to support the pursuit of the nine Sustainable Development Goals (SDG) of the United Nations (UN) relevant to its business.
The Xayaburi Hydroelectric Power Plant emits no greenhouse gases throughout the production
At present, the proportion of the Company’s investments in hydroelectric, cogeneration, and solar power plants is 87.71%, 10.96%, and 1.33%, respectively. In considering CKPower’s contribution to Thailand’s on-grid power production, CKPower has been able to reduce greenhouse gas (GHG) emissions by 4.25 million tons of carbon dioxide equivalent by its renewable energy production.
CKPower participated in the GCNT Forum 2021
CKPower has also actively engaged in environmental development at both local and international levels.
On October 11, 2021, the Company participated in the Global Compact Network Thailand (GCNT) Forum 2021, a virtual meeting hosted by the UN and the GCNT to jointly set climate action and net-zero targets for 2065-2070, in support of the policy of the Thai government after it had entered into agreements with international organizations. The event was attended by top executives from 74 GCNT’s member organizations across the business, government, and public sectors.
The Cooling Tower Optimization winning at the Asian Power Awards 2021
As part of its environmental development plans for GHG reduction and resource optimization, CKPower introduced a cooling tower optimization project at Bangpa-In Cogeneration Power Plant, in which the cooling fans of the cooling tower were deactivated during off-peak periods. The initiative has lowered energy consumption and reduced GHG emissions by 3.86 tons of carbon dioxide equivalent per year, winning CKPower the Innovative Power Technology of the Year Award at the Asian Power Awards 2021.
For water management, CKPower initiated a project to reduce water consumption during blowdown process through the adjustment and control of the chloride range of the cooling water in order to enhance water efficiency and retrieval. As a result of this initiative, the Company was able to reduce 80,000 cubic meters of water blowdown and makeup water last year equivalent to the annual water usage of 1,095 persons, and reduced expenses by more than three million baht per year. For 2021, the goal is to reduce makeup water further by 30,000 cubic meters – equivalent to the average water usage of 410 individuals in a year (according to data of the Ministry of Energy on the water usage of Bangkok residents in 2020, which averaged 200 liters per day.)
CKPower provided assistance to communities around its power plant in Thailand
CKPower has also been giving back to the community during the COVID-19 pandemic by contributing to the construction of a negative-pressure ICU room and vaccination units. It has also donated alcohol-based hand sanitizers, face masks, essential items, and medication to nine communities in Bang Pa-in Industrial Estate in Bang Pa-in District, Ayutthaya and a total of 400 households in communities surrounding the Bangkhenchai Solar Power Plant (BKC) in Khok Thai Sub-district, Pak Thong Chai District, Nakhon Ratchasima for use during quarantine to prevent the spread of COVID-19 in compliance with the government’s measures.
Water trucks aid to flood-stricken communities hit by tropical storm Koguma in the Lao PDR
In addition, after tropical storm Koguma struck Xayaboury Town, the Lao PDR, CKPower provided relief to flood-stricken communities in the vicinity of the Xayaburi Hydroelectric Power Plant, operated by CKPower, by sending in water trucks along with volunteers to help clean the streets and distribute necessities.
GCNT Forum 2021: Thailand’s Climate Leadership Summit 2021 on the theme of “A New Era of Accelerated Actions” is the country’s first leadership summit on solutions to climate change. The event welcomed more than 800 participants from the public and private sectors, civil society, and the United Nations in Thailand.
The Global Compact Network Thailand (GCNT), together with the United Nations, organized the GCNT Forum 2021: Thailand’s Climate Leadership Summit 2021 on the theme of “A New Era of Accelerated Actions.” In the morning session, member organizations made a commitment to “prevent and solve problems of climate change” with the goal of achieving Net Zero by 2050 or at the latest by 2070. This was the first time in Thailand that the GCNT member organizations and businesses of all sizes joined hands to address the critical and urgent global sustainability issues, including the global warming crisis, which are a part of the Sustainable Development Goals. Through this commitment, the GCNT members, consisting of leaders in Thailand’s private sector, demonstrated their power as the change maker on the national and global scales.
Five solutions to global warming from GCNT Forum 2021
Thapana Sirivadhanabhakdi, President of Thai Beverages PCL., a GCNT member organization, said that the business development of ThaiBev and its PASSION 2025 vision for the first half of the next decade were based on the Sufficiency Economy Philosophy of His Majesty King Bhumibol Adulyadej, and inspired by his first royal pledge to continue, protect and build on the benefits and happiness of the people. The company was committed to building talents and striving for excellence and sustainability in order to “create and share prosperity” with stakeholders throughout the value chain. Another focus area of ThaiBev was environmental and social responsibility policies, particularly on the global challenge of climate change. ThaiBev invested in renewable energy and took part in raising the standard of living and income of local people. With the obligations as a member of the GCNT, ThaiBev worked with a network of leading business partners in the Dow Jones Sustainability Index (DJSI) and was geared up to expand this cooperation to advance SDG 17 “Partnerships for the Goals.” In another effort to this end, ThaiBev also co-founded the Thailand Supply Chain Network (TSCN) to assist SMEs.
Five solutions to global warming from GCNT Forum 2021
In addition to the pledge given by the GCNT members, five solution-oriented sub-forums were held where the GCNT members, the Government of Thailand, civil society and the United Nations had opportunities to exchange ideas, visions and experiences on mitigating and preventing the problems of climate change, and together find solutions. The five sub-forums were: (1) Thailand’s climate change situation assessment; (2) tailor-made climate change battle plans for the business groups comprising the food and agriculture, energy and general industries; (3) the roles of the financial and investment sector; (4) the roles of innovation and technology in alleviating climate change; and (5) conclusion and the next steps.
Five solutions to global warming from GCNT Forum 2021
The representatives from Thailand Environment Institute (TEI), Thailand Greenhouse Gas Management Organization (TGO) and the United Nations Environment Programme (UNEP) discussed Thailand’s policy advocacy on climate change, the country’s situation, and where it had reached on the way to the Paris Agreement. To achieve Net-Zero Thailand, the country must reduce greenhouse gas (GHG) emissions in the energy sector, maintain the safe level of GHG emissions in the industrial and agricultural sectors, and expand forest coverage and green spaces to strike a balance between the emission, reabsorption and storage of carbon. While many players in the private sector are initiating reforestation programmes, the Government is currently taking measures to promote investment in technologies, the use of electric vehicles, renewable energy and energy efficiency, low-carbon industries, wastewater/waste management, and methane reduction in the agricultural sector. These measures will lay the groundwork for the BCG economy inspired by the Sufficiency Economy Philosophy. Thailand has to seize the opportunity now to move towards to a carbon-free economy and achieve the SDGs. It is crucial to leverage and optimize the country’s resources and strengths, such as food security and biodiversity, in order to create growth, distribute income, and create sustainability for nature and the environment.
Five solutions to global warming from GCNT Forum 2021
Sub-forum 2: Tailor-made climate change battle plans for business groups
The second sub-forum was an exchange between three business groups facing the challenge of climate change. In a case where the climate problem escalates, they would be the hardest hit, but at the same time, these business groups – food and agriculture, energy, and general industries – could be a change maker and leader in climate change solutions. The food business, represented by the panelists from Charoen Pokphand Foods PCL., NR Instant Produce PCL., Thai Wah PCL., and Thai Rice NAMA, pointed out that the food and agricultural businesses must reduce their carbon emissions and increase the carbon reabsorption to reduce the environmental impact from their production. A great emphasis must be placed on waste and wastewater treatment, use of renewable energy, such as solar energy and biomass, and the practice must be extended throughout the entire value chain. Finally, it is essential to increase green spaces and forests to absorb carbon dioxide.
The energy group comprised representatives from PTT PCL., the Electricity Generating Authority of Thailand (EGAT), BCPG PCL. and Impact Electrons Siam Co., Ltd. The effort by the energy sector to reduce GHG emissions – in addition to investing in renewable energy projects, optimizing energy-efficiency in the production process, and developing energy storage systems – must include the development of an ecosystem that allows people to access clean energy, promote energy production on a household scale, create engagement and ownership by the people, and transform them from energy consumers to energy prosumers. Building a network and a knowledge exchange platform, clean energy development mechanisms, and a system for monitoring, education engagement is indispensable. Improved data collection tools are needed to facilitate decision-making, and to educate and communicate with the public.
The panelists in the general industries group were from the Siam Cement PCL., Singha Estate PCL., Siam Makro PCL., and the Research and Innovation for Sustainability Center (RISC). The discussion mentioned the circular economy as the overarching strategy to solve the climate crisis. Since we are left with limited resources, they must be utilized as efficiently as possible from upstream to downstream. A balance between “financial cost” and “environmental loss” must be maintained from investment to design and business operation throughout the supply chain. It is imperative to create awareness and cooperate with all stakeholders. The mantra of business operators in this era is ‘Sustainability, Resilience, and Competitiveness.’ From now on, climate risk assessment will become a key factor in investment decision.
Thitima Rungkwansirirot, CEO of Singha Estate PCL., one of the panelists in the forum, said: “The climate crisis is inevitable and it is happening now. We must manage this crisis as best as we can in order to minimize the potential damage. We must admit that we have been wasting too much time, but it’s never too late. This is a very challenging mission that we must tackle together.”
Five solutions to global warming from GCNT Forum 2021
Sub-forum 3: Roles of the financial and investment sector in climate change prevention
The representatives from HSBC Thailand, UNEP FI, and UNDP Thailand participated in the fourth panel discussion on the roles of the financial and investment sector. According to UNDP, the financial sector in Thailand has been taking accelerated actions in response to the global warming crisis; in particular, the Government of Thailand is developing financial instruments for sustainability with various agencies. However, this mission needs cooperation from all sectors because financial institutions cannot operate alone to bring about the expected results on the global scale. Banks in different countries were mentioned as examples of how to apply to their operations the “principles for responsible banking” (PRB) which centres on impact management – reducing negative impacts and increasing positive ones. For example, the positive effect of an agricultural loan measure is a higher income of farmers, but it can have negative impacts on the environment. These pros and cons must be carefully weighed and calculated in the face of the ever-changing economic landscape. Currently, UNEP FI is working with the Bank of Thailand to implement the green financing measure, and expects to have a complete result in 2050 and some outcomes by 2030. This policy will focus on engaging customers with a high level of GHG emissions, mainly in the oil and gas sector, in the mission to reach Net Zero.
Mr. Giorgio Gamba, CEO of HSBC Thailand said: “HSBC is committed to being a sustainable and socially responsible financial service provider with a wide range of financial products, including green bonds, green loans, sustainability-linked bonds/loans and green deposits, to support projects that work towards reversing the effects of global warming.”
Sub-forum 4: Roles of innovation and technology in solving climate change problems
The representatives from Charoen Pokphand Group Co. Ltd., PTT Exploration and Production PCL, Huawei Technologies (Thailand) Co., Ltd., Siam Cement PCL, and UNIDO discussed the role of innovation and technology in solving global warming problems. All agreed that digital transformation in the Fourth Industrial Revolution would boost innovations that help to cut GHG emissions at all stages of production and consumption. In order to do so, the Government of Thailand, guided by good governance, must install innovative systems, policies and investment plans, and ensure inclusive access to innovation in order to foster a truly open communication and collective action. An enterprise-level adoption of innovation and technology should begin with an analysis of each organization’s value chain to determine the volume of GHGs released and identify sources of pollution at every stage of the business. Only after this can an enterprise plan, develop and prioritize areas of improvement and listen to stakeholders. Organizations may also start from personnel capacity development and science-based research and development to obtain the data needed for achieving the Net Zero goal. It is important to earn commitments from executives and employees to build a strong platform of exchange, innovation and technology.
Yuttana Jiamtragan, Vice-President, Corporate Administration, Siam Cement Public Co. Ltd., stated that “a great challenge to Net Zero is speed. We have to work against the clock to invent technologies and innovations that are practical and which arrive in time to fix the problems. We need commitment from organizations and we ask them to cultivate a corporate culture of learning and doing.”
Abel Deng, CEO, Huawei Technologies (Thailand), emphasized that “digital power technology is going to take a central role in the energy transition to reduce GHG emissions.”
Sub-forum 5: Conclusion and next steps to real transformation
The GCNT, BRANDi Corporation Co., Ltd., and the Center for SDG Research and Support (SDG Move) shared their views, observations, solutions and interesting suggestions in the fifth sub-forum. The three organizations agreed that the private sector should be looking to strike a balance between the 3Ps (Profits, People, Planet) to create growth, reduce risks, and head toward sustainability. The climate change problem is not necessarily a burden for the private sector; it is also a business opportunity for the private sector to demonstrate its problem-solving capacity as well as create quality markets and consumers who are ready to build sustainable growth and prevent the climate problems from escalating. Companies must seek to transform and replace their non-ecofriendly elements in order to become regenerative businesses. Integral to the success of policy implementation and organizational transformation are (a) an appropriate ecosystem, (b) a reliable financial mechanism, (c) an environmental assessment review that is credible and cost-effective, and (d) conditions, rules and incentives, such as fiscal measures and knowledge mechanisms, to build awareness of sustainable development, climate change and the circular economy among their personnel. This is the path to a real and sustainable change through accelerated actions.
GCNT Forum 2021: Thailand’s Climate Leadership Summit 2021, on the theme “A New Era of Accelerated Actions”, was a 100 per cent online discussion in the sustainable event format, and in line with the guidelines of the Thailand Convention and Exhibition Bureau (TCEB). More than 800 national representatives from various organizations in many countries attended the event, including representatives of international organizations including the United Nations Industrial Development Organization, United Nations Environment Programme and United Nations Development Programme, as well as representatives of the United Nations Global Compact, government leaders, executives of the Securities and Exchange Commission of Thailand (SEC) and the Stock Exchange of Thailand (SET), civil society, and the private sector.
Leading business organizations participating in this event included Charoen Pokphand Group Co. Ltd., Thai Beverage PCL., Charoen Pokphand Foods PCL., CP All PCL., HSBC Bank, Huawei Technologies (Thailand) Co. Ltd., NR Instant Produce PCL., True Corporation PCL., Bangchak Corporation PCL., BCPG PCL., Charoen Pokphand Produces Co. Ltd., CP Intertrade Co. Ltd., Ek-Chai Distribution (Lotus) Co. Ltd., IRPC PCL., Oaklin (Thailand) Co. Ltd., Pranda Jewelry PCL., PTT Exploration and Petroleum Production PCL., PTT Global Chemical PCL., PTT PCL., Siam Makro PCL., Thai Oil PCL., and Krung Thai Bank Co. Ltd. These leaders joined forces with the Global Compact Network of Thailand, the country’s largest sustainability business network, to accelerate actions in reducing the impact of climate change.
The objective is to promote the building designs with the usage of metallic coated steel or color coated steel products to create both eco-friendly and lasting design. The winners will receive the total contest prizes over 750,000 baht, along with certificates.
“BlueScope Design Award 2021,” the contest for innovative designs held by NS BlueScope (Thailand) Ltd, Thailand’s leading manufacturer and distributor of high quality steel for over 30 years, in collaboration with the Association of Siamese Architects under Royal Patronage, is now inviting students and architects to submit their architectural design projects for the contest under the concept “The Sustainability of Coated Steel Buildings.” The objective is to promote the building designs with the usage of metallic coated steel or color coated steel products to create both eco-friendly and lasting design. The winners will receive the total contest prizes over 750,000 baht, along with certificates. The design contest will be held under the two following entries: 1. BlueScope The Sustainability of Coated Steel Buildings Design Contest: an experimental design contest or work-in-progress construction for students in the Faculty of Architecture and Design who are soon completing their studies as well as professional architects and designers, to showcase their talents and win the prize of over 250,000 baht in total and 2. BlueScope The Sustainability of Coated Steel Buildings of the year 2021/2022 in which professional architects or project owners are eligible to submit the design projects of their finished buildings to win a total prize of more than 500,000 baht.
All students and architects who are participating in the contest must be members of the Association of Siamese Architects which opens for application at www.asa.or.th from today – November 15, 2021. All submissions must be completed by November 30, 2021. Visit https://www.youtube.com/watch?v=ZyK00RKgTqw to learn more about the contest.
U.S. pharmaceutical giant Merck has agreed to share its license for its experimental covid-19 drug, molnupiravir, with a nonprofit organization so that it can be manufactured widely around the world in a deal that would expand access to the treatment in more than 100 countries.
The move could make the treatment, an easy-to-take pill shown to reduce the risk of hospitalization and death in some cases, available to millions in mostly low- and middle-income nations – if regulators authorize its use.
“At long last, the first public health license for a covid-19 treatment or vaccine has been signed, allowing this medicine to be produced by all capable producers, which will increase supply and drive down prices,” said Mohga Kamal-Yanni, senior health policy adviser to the People’s Vaccine Alliance, a coalition advocating rapid production and equitable deployment of covid drugs.
Merck announced in October that a global clinical trial showed molnupiravir, an antiviral pill, reduced hospitalizations and deaths by half among higher-risk coronavirus patients diagnosed with mild to moderate illness.
The company agreed to share its license with the United Nations-backed Medicines Patent Pool, or MPP, which in turn can sub-license it to manufacturers. The deal is designed to expand the drug’s availability, widen its manufacturing base and potentially push down the price.
The U.S. government is paying about $700 per course of the molnupiravir treatment, the New York Times reported. But, according to Brook Baker, a professor of law at Northeastern University who has tracked the negotiations over the drug, the price of a course of treatment could fall below $10 as competition increases among manufacturers and production scale grows.
When Merck began working on the drug, along with partners Ridgeback Biotherapeutics and Emory University, and learned that it could be administered as a pill, “we right away understood that this could be a game-changer,” said Jenelle Krishnamoorthy, the company’s vice president of global public policy.
“We had a responsibility,” she added. “You could not have a capsule and not be able to find a way to get it across the world.”
Molnupiravir has yet to receive approval from either U.S. or European regulators. Merck applied to the U.S. Food and Drug Agency for emergency use authorization this month, and the European Medicines Agency recently began a rolling review of the drug.
But experts say that it has huge potential to fight the pandemic. Pills are generally easy to make, transport, store and administer, making them a particularly attractive option for lower- to middle-income countries with weaker infrastructure and limited vaccine supplies.
Earlier this year, Merck struck deals with eight Indian pharmaceutical manufacturers to produce a generic version of molnupiravir. Last week, the Bill and Melinda Gates Foundation announced what it said was an initial investment of up to $120 million to incentivize those drugmakers to begin producing the treatment now – even before it has been approved by regulatory bodies.
About two dozen manufacturers around the world have also expressed interest in producing molnupiravir through the MPP license. Drugmakers will be able to apply to MPP for permission to produce the drug starting Wednesday.
Geneva-based MPP was founded in 2010 to enable low- and middle-income nations access to essential patented medicines during the HIV/AIDs epidemic. This is the first covid-related drug for which it has received a license.
Merck’s sharing of its intellectual property stands out in the pandemic as many other companies have lobbied to maintain rights to therapeutics or vaccines. There’s something else unusual, too: The terms and conditions of the deal are being posted online, a marked change from the veil of secrecy surrounding negotiations for coronavirus vaccines.
“Unlike the grotesquely unequal distribution of covid-19 vaccines, the poorest countries will not have to wait at the back of the queue for molnupiravir,” Kamal-Yanni said.
As long as covid-19 is classified as a public health emergency by the World Health Organization, neither Merck nor its partners will receive royalties from drug sales under the agreement, according to a company statement.
But some experts say that there is far more that needs to be done.
Baker, the law professor, said that he remains concerned about provisions in the license that could limit the sale of generic drugs outside of the 105 countries and that Merck would be unable to meet demand in these excluded countries. Countries such as Brazil, Russia and Turkey – upper-middle-income countries hit hard by the pandemic – would not be able to purchase generic versions under the new license, he says.
Paul Schaper, Merck’s director of global pharmaceutical public policy, said that the company looked at a “range of criteria” when deciding which countries to include on the list. Some countries, he said, didn’t make the cut because “they are more able to support their health system and their pandemic response.”
The license agreement could move the needle in ongoing negotiations over intellectual property during the pandemic. Member states at the World Trade Organization are still debating a proposal introduced by India and South Africa earlier this year to temporarily waive intellectual property rights on coronavirus vaccines and treatments.
Kamal-Yanni said that if Merck did not change its tack, excluded countries could issue compulsory licenses that would allow production of molnupiravir without the approval of the patent holder.
“This license will not solve everything, but it is a starting point and an example,” said Peter Maybarduk, director of Public Citizen, a consumer advocacy organization, and a member of the MPP board.
Bangkok, Thailand 27 October 2021 – The startup landscape in Thailand is heating up, following the latest successful funding round of Thailand’s first ‘Unicorn,’ Flash Group – AKA a privately-owned startup with a valuation of over $1 billion (around 30 billion Thai Baht).
This excitement in the air is further reinforced as startups prepare to emerge and take advantage of the ‘here and now’ era and all potential future investments opportunities.
What does it take to run a successful startup? Infobip, a global cloud communications company and fellow unicorn from Croatia shares five ‘not so’ secret tips for a successful startup with the goal of helping Thai entrepreneurs accelerate the growth of their business ventures.
Finding ‘THE IDEA’ to jumpstart innovation
Everyone has ideas, but the importance is to have a winning idea – one that will help win over investors, give them a reason to invest, and drive forward successes in the long run with an on-going flow of sales and profit. A good business plan must be both innovative and sustainable. The key here is to stay focused and be prepared to make sacrifices. As the old saying goes, ‘Good things take time.’
Innovation is not limited to just the business idea itself but extends across all business units. For instance, your products or services might not be one-of-a-kind in the market, but having an innovative marketing plan, distribution channels, and – most importantly – customer communication tools can help make your business stand out. Setting yourself apart from competitors with customers and finding a unique selling point through enhanced customer communication and personalised engagement can significantly improve customer experience and set your business up for success.
Preparing to scale in style
Once a great business idea is built, another key feature to incorporate is a concrete execution and scalability plan. A good business idea is nothing if not scalable in the future. Therefore, businesses must consider this at the beginning to attract investors and get their backing. Investors often look for scalable businesses that have the potential to multiply revenue with minimal incremental cost.
Startups should not just aim for high profit margins, it also needs a strong and scalable back-of-house system. A system that allows for remote work, provides immediate customer interactions, and innovates employee automation. This will allow companies to streamline the company, reduce operational expenditure, and prepare them to scale for the future, especially now where work is not only applicable at the office!
Hiring the right people, at the right time with the right tools for workflow optimisation
Have you ever heard of the saying, ‘employees can make or break your business?’ This is very true, as talents are what drives a business forward. Therefore, identifying the right personnel with passion and right skill sets for the job is an essential part to any successful startup. This is especially true in the beginning, where hard work and long hours are expected to setup and drive operations.
Finding the right people for the job will significantly increase productivity and help shape startups grow into the organisation that they aspire to be. To do this, it’s a good idea to establish a clear baseline of your company culture, values, and growth path in order to attract and retain like-minded individuals. At the same time, it’s very important to make sure that the business not only engage employees properly but also have a proper customer engagement platform that can help optimise workflow for all and increase overall operational efficiency, innovate work productivity, and gather consumer insights. This is especially true for customer service agents who are the frontliners of the company and handle direct contact with your customers.
Providing constant connected customer experiences
Once you have set up your business idea and explored potential customers, it is time to take the business public. To do this, a very important question to consider is ‘How do I best communicate with my customers and their needs?’ Building a connected network that communicates effectively between a business and its customers is extremely important. This is especially true in today’s ‘here and now’ era where customers expect to communicate with a business anywhere at anytime, and on their preferred channel. Having a strong and seamless customer communication platform is essential, moreso for customer-centric startups that put their customers first. They are the likely ones that tend to have an advantage in the long run.
Moreover, it’s also useful to keep a record of your customers’ preferences and purchase history, so it will be easier to provide a more personalised experience. Thankfully, modern communication tools, such as Moments from Infobip, have made it possible for businesses to securely keep a record of customer communications and create tailor-made message tracking and user experience. A tool that helps to manage and improve over-all conversations will ensure each interaction is specifically catered to the customer’s unique relationship, with reference to time, content, context, and channel.
Adapting with the possibility of the unknown
There is no denying that, with the recent coronavirus pandemic, the business world had experienced unprecedented changes across the board. Therefore, the challenge now not only lies with building a successful business, but how it can also adapt and make profit in times of change. During the pandemic, many businesses have switched to working from home, with difficulties associated with data management and customer communication. Therefore, having a system in place that allows for a seamless transition between home and office work that allows you and your team to stay in constant contact with customers is one of the greatest business tools of the modern era.
Infobip, with its solution, Conversations – a one-stop cloud contact center solution, can enable businesses and sales agents to manage work from anywhere, anytime. This includes providing the ability to seamlessly manage all customer communication across multiple platforms in one single workspace, improving employee performance, and enhancing the customer experience.
To help startups in Thailand to grow and strive in the ever-changing business landscape of the ‘here and now era’, Infobip had launched its very own Infobip Startup Tribe programme in Asia Pacific. This initiative will help foster a community of startups, right from their early stages, with unparalleled growth tools, scalable back-of-house solutions, and direct access to advisor experts and advisor investors from the most reputable global and local VC funds and accelerators. A ‘not so’ secret tribe that will help you and your business to strive and scale at ease, with focus on your products, vision, and mission.
For more information about how to propel your startup to the next level, join Infobip’s Startup Tribe programme today at https://startups.infobip.com/.
The price of gold rose sharply by THB150 in morning trade on Thursday.
AGold Traders Association report at 9.25am said the buying price of a gold bar was THB28,250 per baht weight and selling price THB28,350, while the buying and selling price of gold ornaments is THB27,742.80 and THB28,850, respectively.
At close on Wednesday, the buying price of a gold bar was THB28,100 per baht weight and selling price THB28,200, while gold ornaments were THB27,591.20 and THB28,700, respectively.
The spot gold price on Thursday morning hovered around US$1,800 (THB59,895) per ounce after Comex gold at close on Wednesday rose by $5.4 to $1,798.8 per ounce due to support from the depreciation of the US dollar and the decline in US bond yields, including the weak US economic data disclosure.
Mark Zuckerberg and Meta Welcome You to the Metaverse with New Company Vision Announced at Connect 2021
Mark Zuckerberg and Meta Welcome You to the Metaverse with New Company Vision Announced at Connect 2021
Mark Zuckerberg and Meta Welcome You to the Metaverse with New Company Vision Announced at Connect 2021
The Xayaburi Hydroelectric Power Plant emits no greenhouse gases throughout the production
CKPower participated in the GCNT Forum 2021
The Cooling Tower Optimization winning at the Asian Power Awards 2021
CKPower provided assistance to communities around its power plant in Thailand
Water trucks aid to flood-stricken communities hit by tropical storm Koguma in the Lao PDR
Five solutions to global warming from GCNT Forum 2021
Five solutions to global warming from GCNT Forum 2021
Five solutions to global warming from GCNT Forum 2021
Five solutions to global warming from GCNT Forum 2021
Five solutions to global warming from GCNT Forum 2021
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