IMF nations approve record $650 billion to aid virus fight
Member nations approved the biggest resource injection in the International Monetary Funds history, with $650 billion meant to help countries deal with mounting debt and the fallout from the covid-19 pandemic.
The creation of the reserve assets — known as special drawing rights — is the first since the $250 billion issued just after the global financial crisis in 2009, with Managing Director Kristalina Georgieva billing it as “a shot in the arm for the world” that will help boost global economic stability. The SDR allocation will be effective on Aug. 23, the IMF said in a statement Monday.
“The SDR allocation will benefit all members, address the long-term global need for reserves, build confidence, and foster the resilience and stability of the global economy,” Georgieva said. “It will particularly help our most vulnerable countries struggling to cope with the impact of the covid-19 crisis.”
The guardians of the global economy have wrestled with the plan for more than a year. It was initially delayed when the U.S. — the IMF’s biggest shareholder — blocked it in early 2020. Steven Mnuchin, treasury secretary under President Donald Trump, said that the funds wouldn’t get to the nations that most need it. Rep. French Hill, R-Ark., called it a “giveaway to wealthy countries and rogue regimes” such as China, Russia and Iran.
The U.S.’s position changed under President Joe Biden and Mnuchin’s successor, Janet Yellen, and with the fund exploring options for members with strong financial positions to reallocate the reserves to support vulnerable and low-income countries. Still, a global allocation of $650 billion was about the maximum that the U.S. could support without needing to get approval from Congress.
Reserves are allocated to all 190 members of the IMF in proportion to their quota, and some 70% will go to the Group of 20 largest economies, with just 3% for low-income nations. Overall, 58% of the new SDRs go to advanced economies, with 42% for emerging and developing economies. So of the $650 billion, about $21 billion go to low-income countries and $212 billion to other emerging market and developing countries, without counting China, according to U.S. Treasury Department calculations.
The Group of Seven advanced economies in June endorsed a plan to reallocate $100 billion of new SDRs to poorer countries, but the G-20 in July only specified support for a general allocation of $650 billion in SDRs, without detailing how much would be re-lent.
Reallocation will be crucial to help countries in Africa, for which only about $33 billion is earmarked in the SDR issuance. France has committed to reallocating part of its SDRs for countries on the continent.
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South African President Cyril Ramaphosa has previously said that from the total allocation, about one-quarter — equivalent to around $162 billion — should be made available to African countries. He has called on rich nations to donate — and not just on-lend — their allotments.
Rich nations currently can use the IMF’s Poverty Reduction and Growth Trust to help channel reserves to low-income countries interest free. Fund staff also are working to set up the so-called Resilience and Stability Trust for redirecting new reserves to vulnerable low-middle-income countries and small island economies, an option that Georgieva has said she hopes will be established by year-end.
The fund will “continue to engage actively with our membership to identify viable options for voluntary channeling of SDRs from wealthier to poorer and more vulnerable member countries to support their pandemic recovery and achieve resilient and sustainable growth” Georgieva said in Monday’s statement.
More than 200 groups including the Jubilee USA Network, a nonprofit that advocates debt relief for developing countries, had called on the G-20 to support the creation of $3 trillion in SDRs, saying the funds are needed to help free up resources for health care and social spending.
“Developing countries need more aid to get beyond the crisis,” Eric LeCompte, the executive director of Jubilee USA Network, said in a statement late Monday. “Wealthy countries receive most of these emergency reserves and must donate them to developing countries.”
Published : August 04, 2021
By : Syndication Washington Post, Bloomberg · Eric Martin
Biden calls for Cuomo to resign after report finds the New York governor sexually harassed 11 women
New York Gov. Andrew Cuomo sexually harassed current and former state employees, creating a hostile work environment for women in violation of state and federal law, state Attorney General Letitia James announced Tuesday.
Hours after the release of a 165-page report that detailed numerous allegations against Cuomo, President Joe Biden said he believed the Democratic governor to resign, joining a chorus of similar calls by other party officials.
Investigators laid out a devastating portrait of Cuomo’s behavior and extensive examples of unwanted physical touching, including an incident last November in which Cuomo embraced an executive assistant and reached under her blouse to grab her breast. Witnesses also described an environment in the governor’s office that was abusive and vindictive, with one of the women who came forward targeted for retaliation through the release of her personnel file, investigators said.
In all, the independent probe found that Cuomo harassed 11 women, including a state trooper whom the governor arranged to be put on his detail.
“This investigation has revealed conduct that corrodes the very fabric and character of our state government,” James, D, said at a news conference.
The findings mark a new low for once-celebrated Democratic star, who won an Emmy in 2020 for his nationally televised briefings during the pandemic, appeared on track for reelection to a fourth term in 2022 and was frequently discussed as a presidential contender. He is now isolated from his own party’s leadership, the result of a months-long investigation that was based on interviews with 179 individuals, including women who accused the governor of misconduct, Cuomo himself and a coterie of his top advisers.
The probe was launched after multiple women accused Cuomo of inappropriate personal comments or unwelcome physical contact earlier this year.
On Tuesday, James deflected questions from reporters about whether Cuomo should resign, saying “that decision is ultimately up to the governor of the state of New York.” She said her office was not making any criminal referrals but noted that the report was publicly available.
Separately, Albany County District Attorney Davis Soares disclosed an ongoing criminal investigation of Cuomo by his office. “We will be formally requesting investigative materials obtained by the AG’s Office, and we welcome any victim to contact our office with additional information,” Soares said in a statement.
In a video address Tuesday afternoon, Cuomo maintained a defiant posture. He said he would continue serving as governor and defended himself as a champion of women and victims of sexual harassment. “The facts are much different than what has been portrayed,” he said.
“That’s not who I am,” the governor said of his depiction in the attorney general’s report.
Cuomo denied the claim that he groped an executive assistant’s breast. “That never happened,” he said. He said other complainants sought to “unfairly characterize and weaponize everyday interactions,” noting his tendency to greet women and men warmly.
After months of asking New Yorkers to withhold judgment until the attorney general’s report was released, his office released an extensive rebuttal document, calling the probe “an utterly biased investigation” that “willfully ignored evidence.”
The document included eight pages of photographs of Cuomo kissing and hugging other officials in public, and a second exhibit filled with photographs of other prominent Democratic officials, including President Biden, Vice President Kamala Harris, House Speaker Nancy Pelosi and former president Barack Obama doing the same.
The governor also said he would bring in an “expert” to provide him and his office with sexual harassment training.
But the extent of the political fallout for Cuomo remains to be seen. When asked about the report Tuesday afternoon, Biden told reporters, “I think he should resign.”
“Look, I’m not going to flyspeck this,” the president added. “I’m sure there are some embraces that were totally innocent. But apparently the attorney general decided there were things that weren’t.”
Pelosi and three House Democrats from New York also called on the governor to step down, joining about a dozen from the state delegation who had previously done so.
“We commend the brave women who came forward and spoke truth to power,” Reps. Hakeem Jeffries, Thomas Suozzi and Gregory Meeks said in a statement. “The time has come for Governor Andrew Cuomo to do the right thing for the people of New York State and resign.”
The state’s two Democratic senators, Chuck Schumer and Kirsten Gillibrand, also reiterated their calls for his resignation.
“No elected official is above the law,” they said in a statement. “The people of New York deserve better leadership in the governor’s office. We continue to believe that the Governor should resign.”
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Assembly Speaker Carl Heastie, D, called the report “disturbing” and the victim accounts “gut-wrenching.”
But he stopped short of saying the findings were sufficient to move forward with impeachment proceedings against Cuomo. “We will now undertake an in-depth examination of the report and its corresponding exhibits with our Assembly counsels as well [as] the legal firm we have retained to assist us,” he said in a statement. “We will have more to say in the very near future.”
Investigators detailed numerous occasions in which they said Cuomo violated sexual harassment statutes: The governor allegedly grabbed the buttocks of an employee of another state office, made sexually suggestive comments to a young female assistant and inappropriately touched other women not employed by the state.
Joon Kim, the former acting U.S. attorney for the Southern District of New York appointed by James to help lead the investigation, said some women “suffered through unwanted touching and grabbing of their most intimate body parts.”
“The executive chamber’s workplace culture was rife with bullying, fear and intimidation on one hand while normalizing frequent flirtations and gender-based comments by the governor on the other,” Kim added.
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The report detailed the account of a female state trooper in her late 20s, whose allegations had not been previously reported, who was hired onto Cuomo’s detail after he met her, even though she did not have adequate experience. He would ask her questions about her attire, such as why she did not wear a dress, the report said. She told him it was impossible to carry a gun when wearing a dress.
The governor also touched the trooper inappropriately on several occasions, running his finger down her spine when he was standing behind her on an elevator, according to the report. In another episode, Cuomo allegedly ran his hand across her stomach as she held the door open for him at an event.
“I felt . . . completely violated because to me . . . that’s between my chest and my privates,” the trooper testified, adding: “But, you know, I’m here to do a job.”
Separately, the report detailed inappropriate behavior the governor allegedly exhibited toward a young executive assistant employed in his executive chamber – actions that escalated to unwanted touching.
One day, Cuomo told her it was “about time you showed some leg” when she wore a dress, she told investigators, and later asked if she had kissed or “fooled around” with someone other than her husband.
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At one point, the governor said to her something like, “If you were single, the things I would do to you,” she recalled.
In one incident in December 2019, he asked her to take a selfie with him and then “moved his hand to grab her butt cheek and began to rub it,” the report said. The executive assistant was shaking so much that the photos were blurry.
Eleven months later, the executive assistant was dispatched to assist Cuomo at the executive mansion. As she was leaving, he slammed the door shut and slid his hand up her blouse, cupping her breast, the report said.
“I remember thinking to myself who – I knew what just went on, I knew and he knew too that was wrong,” she told investigators. “And that I in no way, shape or form invited that nor did I ask for it. I didn’t want it. I feel like I was being taken advantage of.”
Cuomo denied that he touched her.
The assistant said she planned to stay quiet about what had happened and take it “to the grave,” but later told others after she grew distraught watching Cuomo deny publicly that he had ever touched a woman inappropriately.
The report also found that Cuomo made numerous suggestive sexual comments that constituted “unlawful sexual harassment.” These included telling the female state trooper that his criteria for a girlfriend was someone who “can handle pain,” suggesting a buttock tattoo to one aide and calling two executive assistants “mingle mamas” while asking one of them whether she would be willing to cheat on her partner.
In a long interview with investigators in late July, the governor admitted to some of the claims against him, according to special deputy Anne L. Clark, but put a “different spin on them,” she said. In some instances, he denied allegations or said he did not remember details.
The rebuttal document released by Cuomo on Tuesday disputes the characterizations of his accusers and argues that Cuomo maintained a “family” atmosphere in his office.
“He is informal with his staff and banters with all employees, again, regardless of gender, in an effort to bring collegiality and levity to their high-pressure and demanding positions,” his attorney Rita Glavin wrote. “He is interested in their lives.”
But the women he targeted found Cuomo’s behavior humiliating, offensive or inappropriate, according to the investigation. In a text exchange with a close friend after one conversation with Cuomo, aide Charlotte Bennett wrote, “Something just happened and I can’t even type it out . . . GOING TO BURST INTO TEARS.”
The claims surfaced publicly earlier this year when Lindsey Boylan, a former aide, wrote in an online post that the governor had sexually harassed her for years, saying he touched her lower back and arms and once kissed her. His aides later released details from her personnel file, an action the investigation concluded was “unlawful retaliation.”
Days after Boylan’s post, then-former aide Bennett alleged in an interview with the New York Times that Cuomo made suggestive comments she interpreted as sexual advances.
Other women said the governor quizzed them about their dating lives, part of an office culture they viewed as degrading and toxic.
The attorney general’s report found that Cuomo’s office did not handle complaints according to state law.
“We conclude that the Executive Chamber failed to follow its own policies and procedures related to sexual harassment in responding to several of the complaints,” the report said.
The governor and his aides sought to undermine the women who came forward and undercut the investigators, the report concluded.
After Boylan tweeted that the governor was “one of the biggest abusers of all time,” top aide Melissa DeRosa asked for her “full file.” It was then disseminated to a number of reporters over several days by Cuomo aides and advisers, according to the investigation.
Cuomo also drafted an op-ed to attack Boylan but was talked out of it by advisers who reviewed it and found it to be “victim shaming that they found inadvisable.”
In addition, records uncovered by the investigators show that days after Cuomo said he welcomed the investigation, a longtime adviser said he was being asked to “spread oppo” about Kim. At another point, Cuomo advisers asked for conversations with potential victims to be recorded for information they could use to potentially defend the governor. But the recordings weren’t used because they didn’t go well, DeRosa testified.
Other state officials were brought in to assist with damage control.
At one point, Larry Schwartz, the state’s vaccine czar and a longtime Cuomo adviser, called county executives to ask if they were going to issue public statements for the governor to resign, the report found.
The investigation said DeRosa, the governor’s top aide, requested the calls, which made the county officials uncomfortable because they viewed them as implicit threats linking their access to vaccines to their stance on Cuomo’s actions.
And CNN anchor Chris Cuomo helped his brother draft a statement to address the allegations and attended calls with other advisers to discuss the matter, according to the investigation.
Chris Cuomo told investigators “there was discussion about remedial measures the Chamber should take in light of the sexual harassment allegations, but some people had taken the position that they should just wait,” according to the report.
The independent investigation was conducted by Kim, a partner at the law firm Cleary Gottlieb Steen & Hamilton, and Clark, a longtime employment and discrimination attorney. Both were appointed by James after Cuomo – under pressure from fellow Democrats – referred allegations about his behavior to her office.
Debra Katz, a lawyer for Bennett, said the investigation showed “egregious” sexual harassment and that his inner circle was “aware of the allegations and enabled him to continually sexually harass women, or just moved the women out.”
She called Cuomo’s rebuttal “disturbing.”
“If he really cared about the treatment of women in New York state, he would step down,” she said.
Even before it was released, Cuomo and his team tried to undermine the report, claiming that James has been using the probe to burnish her standing for a possible gubernatorial run. They also have accused the attorney general’s office of disclosing information to the news media, without providing evidence of such leaks.
Cuomo had been expected to seek a fourth term next year and has retained an approval rating in New York around 50% despite the slew of allegations, though some of his advisers saw it as his toughest race yet.
The governor remains under investigation by federal and state authorities on a number of other issues, including his administration’s handling of nursing home deaths during the pandemic, the preferred access that Cuomo family members were given to coronavirus testing, and work that state employees did on a memoir about his leadership during the pandemic that secured him a $5 million advance.
Published : August 04, 2021
By : The Washington Post · Josh Dawsey, Michael Scherer
Bosch to produce motorcycle ABS in Thailand from 2022
Local support for global two-wheeler manufacturers in ASEAN – Production at Amata plant in Thailand to start in the second quarter of 2022. – From 2024, motorcycle ABS will be mandatory in Thailand for all new models over 125 cc. – Roughly 25 percent of accidents involving motorized two-wheelers could be prevented by motorcycle ABS.
To achieve its vision of making motorcycle riding safer, more efficient, and fun, Bosch makes market-specific products and solutions available to global two-wheeler manufacturers. In order to meet the increasing demand for safety systems in the Asian market, Bosch plans to start production of motorcycle ABS at its Amata plant in Rayong, Thailand, in the second quarter of 2022. Following Japan and India, therefore, the Amata plant will be Bosch’s third manufacturing site for motorcycle ABS in the world. This global manufacturing network allows Bosch to support global two-wheeler manufacturers’ efforts to optimize their supply chains. “With ABS10 light and base, we provide dedicated safety systems for the small commuter scooters and motorcycles that represent a major mode of transportation in ASEAN. Our customers will benefit from local production at an established plant that already has experience of producing four-wheeler ABS systems,” says Geoff Liersch, president of the Two-Wheeler & Powersports unit at Bosch.
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Since 1996, the Amata plant has been growing in importance as a manufacturing site, producing a range of four-wheeler automotive components in the fields of chassis systems, electrical drives, and powertrain. Four-wheeler ABS products have been produced there since 2014.
Stricter safety standards for two-wheelers in southeast Asia
On May 15, 2021, the Thai Department of Land Transport announced in the government gazette that ABS is to be mandatory for all new motorized two-wheeler vehicle models with an engine displacement of more than 125 cc from 2024. In addition, it will be mandatory for all existing models from 2026. According to the World Health Organization (WHO), the rate of road-traffic fatalities in Thailand is the highest in the ASEAN countries. While the figure for southeast Asia as a whole is for 20.7 deaths per 100,000 inhabitants, the figure for Thailand is 36.2. In southeast Asia, accidents involving motorized two- and three-wheelers account for 43 percent of all road traffic deaths.
Bosch to produce motorcycle ABS in Thailand from 2022
Bosch can help make roads safer
Greater two-wheeler safety requires awareness and education of riders as well as the installation of vehicle safety systems. Motorcycle ABS supports riders while braking, even when braking hard or riding on slippery roads. It prevents wheels from locking up, and ensures vehicle stability and optimum deceleration. Bosch accident research studies show that if all two-wheelers were equipped with ABS, roughly 25 percent of accidents involving motorized two-wheelers could be prevented. “User-centric mobility is at the heart of Bosch’s business, and motivates us to develop technology that will make mobility safer for all road users”, adds Martin Hayes, regional president of Bosch Southeast Asia. “This development cements Bosch’s commitment not only to road safety in general, but to the countries we operate in.”
‘Banthoon Lamsam’ recognized as Asian financial industry leader
The Asian Banker, Asia’s leading financial and economic journal, presented The Asian Banker Leadership Achievement Awards 2021 for Lifetime Achievement in Leadership in the Financial Services Industry to Mr. Banthoon Lamsam, Chairman Emeritus of KASIKORNBANK (KBank),
The Asian Banker has recognized “Banthoon Lamsam” as a highly accomplished leader in the financial services industry. During his tenure, he led KASIKORNBANK to weather multiple crises, providing for stable business growth while also firmly embracing corporate social responsibility. He steered the organization towards becoming a world-class Bank of Sustainability. His enduring and illustrious 40-year career at KASIKORNBANK is a hallmark of the industry.
The Asian Banker, Asia’s leading financial and economic journal, presented The Asian Banker Leadership Achievement Awards 2021 for Lifetime Achievement in Leadership in the Financial Services Industry to Mr. Banthoon Lamsam, Chairman Emeritus of KASIKORNBANK (KBank), for his myriad accomplishments during his leadership at KBank. He is the first-ever Thai financial institution leader to receive this prestigious award.
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The award is based on a selection of the most accomplished veterans of the Asian financial and banking industry. They must possess a concise long-term vision that has paved the way for their organizations to become more stable and sustainable in a concrete manner. Additionally, they have fine-tuned related business strategies and promoted a collaborative management approach in helping steer their organizations towards the right direction in a unified manner.
This prestigious award recognizes the leaders that have risen above their peers while also having distinguished reputations, skills and achievements. This award is also bestowed upon those leaders who have raised the bar for success in the financial services industry. Previous recipients of this award have made considerable contributions to establishing their organizations, and even creating an entire industry in their home country in some cases.
The Asian Banker journal bestows this award upon individuals who have not only reshaped the institutions that they work for, but also engendered important changes within the financial services industry in their respective countries and regions. Hence, they are considered outstanding figures based on their lifetime contributions and leadership. Such recipients are also distinguished by traits such as humility, integrity of the highest order, impressive accomplishments in the industry, and an uncanny common sense that is increasingly overlooked in business today. Their accomplishments are well-regarded by both friends and market rivals alike.
Those who have won this recognition in the past are financial services leaders in various Asian countries, including Dr. Zhou Xiaochuan, former Governor of People’s Bank of China; Dr. Zeti Akhtar Aziz, former Governor of Bank Negara Malaysia; Mr. Amando M. Tetangco Jr., former Governor of Bangko Sentral ng Pilipinas; and Mr. Liu Mingkang, former Chairman of China Banking Regulatory Commission.
The Council of Advisors of the Leadership Achievement Awards observed that Mr. Banthoon has displayed visionary and strategic leadership during his enduring and illustrious 40-year career at KBank, which is a significant hallmark in the Thai banking industry. Throughout Mr. Banthoon’s tenure at the helm of KBank, it has been transformed into an exemplary organization which has gained wide acceptance and recognition, and has proven able to navigate a series of crises and challenges. KBank continues to deliver strong performance, while embracing corporate social responsibility and good corporate governance. Mr. Banthoon’s leadership has steered KBank on its path towards becoming a world-class Bank of Sustainability.
BGRIMs green debentures get electrifying response, B12bn offerings significantly oversubscribed, all snapped up
B.Grimm Power Public Company Limited (BGRIM), Thailand’s leading industrial energy producer with growing overseas presence, has hailed its green debentures offerings as a great success.
B.Grimm Power Public Company Limited (BGRIM), Thailand’s leading industrial energy producer with growing overseas presence, has hailed its green debentures offerings as a great success.
Investors’ response to BGRIM’s “Green Bond” offering was electrifying that not only the initial primary 8-billion-baht offering plan was fully subscribed, the doubling of greenshoe options to 4 billion baht were snapped up as well.
The demand for the debentures, gauged by the so-called Book Building process, was more than five times the initial offering plan of 8 billion baht, with some debenture tranches in the overall package being 10 times over the set portion.
Dr. Harald Link, Chairman and President of BGRIM, said the overwhelming response to the 12-billion-baht fundraising is truly remarkable at the time when the capital market has been depressed by the Covid-19 pandemic.
“The investors’ keen interest is a sheer vote of confidence in BGRIM’s business and its green energy drive in which these debentures are about,” he noted.
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BGRIMs green debentures get electrifying response, B12bn offerings significantly oversubscribed, all snapped up
BGRIM’s debentures were taken by institutional investor groups including life insurance companies, asset management firms, government funds, cooperatives, and other financial institutions.
The BGRIM debentures come in three tranches – 2 billion baht for a 3-year maturity with interest rate at 1.41% p.a., 3 billion baht in “Green Bond” with a 5-year maturity and interest rate at 1.95% p.a., and 7 billion baht due in 10 years with interest rate at 3.20% p.a.
Proceeds from the 5-year tranche designated “Green Bond” will go towards the development of BGRIM’s two solar farm projects in Vietnam and a wind energy venture in the northeastern Thai province of Mukdahan.
The Vietnam schemes, located in Phu Yen and Tay Ninh provinces with a combined generating capacity of 677 megawatt, will take 87% of the proceeds while the 18-MW Mukdahan facility receiving the remaining 13%.
BGRIM’s Green Bond is verified to conform with the Climate Bonds Standard to ensure the best practice standards for climate integrity, management of proceeds and transparency. The certified B.Grimm Green Bond is included in Climate Bond Initiative websites (https://www.climatebonds.net/certification/certified-bonds)
BGRIMs green debentures get electrifying response, B12bn offerings significantly oversubscribed, all snapped upAll three debenture varieties are rated “A-” with a “stable” outlook by TRIS Rating Co Ltd on June 29, 2021.
The debentures were offered to institutional and or high net worth investors on July 2-5 with debentures being issued on July 6.
Bangkok Bank, Kasikorn Bank and Kiatnakin Phatra Securities Public Company Limited acted as underwriters of the debentures.
Dr Link expressed gratitude for investors’ keen interest in BGRIM’s debentures and unrelenting supports.
The company will earmark the proceeds from the debentures to repay existing debts, investing in projects and using them as working capital.
The debentures offered this time bear reasonable costs and would lay an investor base for future debenture offerings.
Supports from investors this time endorse their confidence in BGRIM for its strong performance, highly experienced management team and leadership in the core business of producing and selling electricity and steam with top global standards.
BGRIM has been conducting its businesses under the slogan of “Empowering the World Compassionately”, by extending generosity, values to the society and growing alongside Thailand.
Mikimoto brings forth vibrant colors of the season with “Spring New Collection 2021”
Mikimoto has crafted series of unparalleled, timeless pearl jewelry pieces incorporated with precious gemstones and inspiration from natural beauty.
Summertime returns, and the season of colors and vitality is starting anew with delicate, sweet smile. Mikimoto, Japan’s high end pearl jewelry brand, is presenting the pure natural beauty of pearls and haute craftsmanship in the new release “Spring New Collection 2021” that radiates Mikimoto’s unique aesthetics.
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Mikimoto brings forth vibrant colors of the season with “Spring New Collection 2021”
For more than a century, Mikimoto has crafted series of unparalleled, timeless pearl jewelry pieces incorporated with precious gemstones and inspiration from natural beauty. These precious creations for the summer are inspired by the floral queen of the season, the cherry blossom, which is also Japan’s national flower, that goes into full bloom during late March until early April that marks the beginning of spring. Cherry blossom petals that symbolize the sweet, delicate feminine beauty are used to create various jewelry designs. White South Sea Pearl Earrings with Diamond brings elegant air to the wearer, while White South Sea Pearl Pendant with Diamond that uses lustrous, perfectly round white South Sea pearl, entices with alluring charm. Meanwhile the White South Sea Pearl Ring with Diamond brings glamour to a lady’s delicate, slim finger.
The collection also includes masterpieces such as Akoya Pearl Brooch with Diamond and Pink Sapphire with perfectly round and lustrous Akoya pearl propped on delicate floral petals and sparkling diamonds and pink sapphires. The majestic Golden South Sea Pearl Earrings with Diamond boosts confidence, while the White South Sea Pearl Pendant with Diamond delights with a string of diamond accent. The other two stellar pieces that pearl lovers fall in love with are White South Sea Pearl Brooch with Diamond and Blue Sapphire and White South Sea Pearl Brooch with Diamond and Pink Sapphire with exquisitely delicate flower petals created by the masterful hands of Mikimoto’s artisans.
Experience the eternal beauty of peals, the king of the sea, created to welcome the warming and vibrant springtime with the “Spring New Collection 2021” at Boutique Mikimoto, Level M of Siam Paragon. For more information, contact 0-2129-4444.
Marriott International and PCMA collaborate to offer digital event strategist (DES) certification
Digital and hybrid event education has proven to be critical as economies begin to reopen and where reskilling is paramount to future-proof events. The DES course is a self-paced, 6-course module supported by APAC Regional Experts that provide local expertise and hybrid event insights and commences with a final exam.
Marriott International and the Professional Convention Management Association (PCMA) today announced a collaboration to provide the Asia Pacific region’s business events community access to PCMA’s Digital Event Strategist (DES) certification course. Event and meeting professionals will have the opportunity to be certified upon booking at participating Marriott Bonvoy Events across Asia Pacific.
Digital and hybrid event education has proven to be critical as economies begin to reopen and where reskilling is paramount to future-proof events. The DES course is a self-paced, 6-course module supported by APAC Regional Experts that provide local expertise and hybrid event insights and commences with a final exam.
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Marriott International and PCMA collaborate to offer digital event strategist (DES) certification
“Today, relationships and business models are ever-changing,” said Karen Bolinger, Managing Director APAC at PCMA. “Working with Marriott is a testament to PCMA’s commitment to its partners and industry as we continue to develop and deliver the necessary support and education both our members and clients need and want. In fact, PCMA’s most recent APAC survey indicated that over 70% of meeting planners are looking for venues with broadcast facilities and in-house expertise, and 80% of respondents said they will give their in-person and virtual event attendees an opportunity to interact. This means new skills are required to deliver on these business objectives.”
Earning the DES certification provides industry professionals with the tools to: plan, produce and measure digital and hybrid events from beginning to end; monetise digital events through fresh pricing and sponsorship strategies, and evaluate and choose the most sophisticated tech solutions.
“As we march towards full recovery for our industry, it is crucial that event professionals continue to adapt and equip themselves with the relevant skills and knowledge for success,” Ramesh Daryanani, Vice President, Global Sales, Asia Pacific commented. “Marriott International has always been committed to providing an environment that enables customers to ‘Connect with Confidence’, whether through our enhanced hygiene protocols, hybrid meeting solutions or learning opportunities. Partnerships with industry associations like PCMA, allows us to leverage the industry’s best and innovative practices and offer event professionals the solutions and insights required to navigate the current landscape to create engaging experiences and successfully host meetings and events.”
Marriott International and PCMA collaborate to offer digital event strategist (DES) certification
Launched in early 2021 to provide meeting and event planners the flexibility to book and organize events in anticipation of the return of large-scaled meetings and events, The Time is now is a promotion currently available at participating Marriott Bonvoy properties across Asia Pacific. The collaboration with PCMA will allow eligible customers to select the PCMA Digital Event Strategist (DES) certification as an additional benefit when booking an event or meeting with Marriott. Terms and conditions apply.
Participating hotels in Thailand are;
1. Bangkok Marriott Hotel Sukhumvit
2. Bangkok Marriott Marquis Queen’s Park
3. Le Meridien Chiang Mai
4. Sheraton Grande Sukhumvit, a Luxury Collection Hotel, Bangkok
DITP taps Walmart as new sales channel for Thai exports
Walmart’s online platform has grown quickly to become the second-largest e-retail platform in the US after Amazon. The platform is likely to gain a greater share in the US market going forward.
The Department of International Trade Promotion (DITP) has invited nine Thai trade associations to talks with Walmart on increasing sales channels for Thai goods in international online markets such as the US, Canada, Mexico and Argentina. The aim of the talks is to boost the country’s exports.
The nine associations joining the talks are the Thai Furniture Association, Thai Gifts Premiums & Decorative Association, Thai Housewares Trade Association, Thai Lifestyle Products Federation, Northern Handicrafts Manufacturers and Exporters Association, Thai Toys and Children Product Trade Association, Thai Subcontracting Promotion Association, Thai Autoparts Manufacturers Association, and Federation of Thai Industries (furniture and air-conditioning & refrigeration industries).
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The move comes after Walmart recognised Thai businesses’ strength in producing high-quality products with a variety of designs, said DITP director-general Somdet Susomboon.
He added that to meet the US market’s demand during the Covid-19 crisis, Walmart wants a large number of Thai products, including furniture, housewares, house decor, toys, automotive parts, electric appliances and air-conditioners.
He added that the department is working under Deputy Prime Minister and Commerce Minister Jurin Laksanawisit’s policy to encourage businesses to use online trading systems to expand their sales in international markets amid the sluggish economic recovery due to the Covid-19 crisis.
“The department has achieved success in boosting the country’s exports in the first half of this year, with 14.67 billion baht generated from activities operated via online channels,” he said.
“We have received a policy directive to speed up the operation in the second half of this year, to generate more revenue for the country.”
Among activities in the first half of this year is “Yi Pua [Chinese for middlemen] Online Connect”, which gathered over 52 foreign middlemen to purchase and distribute Thai products via several large online platforms from May 24-28.
DITP taps Walmart as new sales channel for Thai exports
“This activity generated contracts and exports worth 288 million baht, much higher than the original target of 100 million baht,” Somdet said.
He added that the Thai Trade Centre in Chicago had invited retail giants in the US market to purchase and distribute Thai products via Walmart under the “Yi Pua Online Connect” as well.
Walmart’s online platform has grown quickly to become the second-largest e-retail platform in the US after Amazon. The platform is likely to gain a greater share in the US market going forward.
Products being focused on by Walmart Global Sourcing include automotive parts (sun visors and seat covers), furniture (beds and office chairs) and home decorations for Christmas and Easter. These are Walmart’s best-sellers, with orders of 1-12 million items per year in each product category.
Boonrawd Brewerys innovative Stackable Design for Singha Drinking Water won the Thaistar Packaging Awards 2021
The new stackable design for this SKU has recently won the Thaistar Packaging Awards 2021 for transportation packaging from the Ministry of Industry, ensuring that Singha Drinking Water is clean, safe, and carefully manufactured for all our consumers.
Boonrawd Brewery has redesigned the 6-liters Singha Drinking Water, making it three times stackable than the original design, leading to less space needed and less material used for transportation, and more eco-friendly. The new stackable design for this SKU has recently won the Thaistar Packaging Awards 2021 for transportation packaging from the Ministry of Industry, ensuring that Singha Drinking Water is clean, safe, and carefully manufactured for all our consumers.
Mr. Titiporn Thammapimookkul, Chief Marketing Officer – Brand at Boonrawd Trading Co., Ltd., revealed that the company strives to make Singha Drinking Water clean and safe for consumers with attention to every detail and produce quality products. The new packaging is designed to provide convenience, which suits the recent trend of living spaces, and to be more safe and eco-friendly. Boonrawd’s stackable design for 6-liter Singha Drinking Water has won the Thaistar Packaging Awards 2021 in the Packaging for Transportation category with its innovation in creative packaging design to maximize efficiency in product transportation, convenient, and be more mindful of the environment.
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Boonrawd Brewerys innovative Stackable Design for Singha Drinking Water won the Thaistar Packaging Awards 2021
“The thinking behind the design is a result of a 3-year collaboration between different departments, the packaging R&D team, the engineering team, along with Wangnoi Beverage company and countless teams. The project is inspired by Mr. Rojrit Debhakam, First Senior Executive Vice President, whose policy encourages our packaging design to be future-proof, environmentally friendly, and use less material for transportation. The stackable design has eliminated the paper cardboard or box that was previously needed between each product, saving more than 150 tons of paper per year and providing innovation for Thai consumers and more suitable to their lifestyle. The new LEGO-like design comes with special technology to make the packaging more durable and can be stacked up to 3 levels, reducing the space needed for storage,” said the packaging research and development team who designed the packaging.
All materials used can be entirely recycled, whether it’s the PET bottle, the handle, and the label, which resonates with the brand’s environmentally friendly mission. The products were manufactured with a closed system for maximum safety and hygiene. Singha’s proprietary Smart Micro Filter technology will filter out and kill microorganisms and bacterias in the water and keep all the minerals vital to the body.
The 44th Thaistar Packaging Awards 2021 is held by the Ministry of Industry and the Department of Industry with the theme “Sustainability for Next Normal,” which encourages designers to showcase their packaging designs, support the exportation of Thai products, and find Thailand’s packaging design representative to compete on the international and world stage. The criteria of the packaging design contest are as follows: 1. Innovation – creativity in design 2. Use case – the benefit of the design and convenience 3. Graphics – beautiful and memorable design 4. Suitability – efficiency and can be commercialized 5. Environmental friendly design and 6. Overall impression.
The Stock Exchange of Thailand (SET) Index closed at 1,540.51 on Tuesday, up 15.40 points or 1.01 per cent. Transactions totalled THB69.69 billion with an index high of 1,540.52 and a low of 1,524.37.
In the morning session, Krungsri Securities expected the SET Index today to fluctuate between 1,515 and 1,535 points. Market conditions indicated negative sentiment from a weakening crude oil price and disappointing July figures for the US and Chinese manufacturing sectors.
The extension of Thailand’s partial lockdown for another month in the Dark Red zone and expansion of the zone to 29 provinces are adding to negative sentiment, Krungsri Securities said.
However, it expected mass buy-ups of shares in the export sector and improved second-quarter corporate results to support a rebound of the index.
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The 10 stocks with the highest trade value today were KBANK, ADVANC, SCB, PTT, BANPU, DTAC, RCL, BCH, BBL and GUNKUL.
Other Asian indices were mixed:
Japan’s Nikkei Index closed at 27,641.83, down 139.19 points or 0.50 per cent.
China’s Shanghai SE Composite Index closed at 3,447.99, down 16.29 points or 0.47 per cent, while the Shenzhen SE Component Index closed at 14,736.92, down 61.24 points or 0.41 per cent.
Hong Kong’s Hang Seng Index closed at 26,194.82, down 40.98 points or 0.16 per cent.
South Korea’s KOSPI closed at 3,237.14, up 14.10 points or 0.44 per cent.
Taiwan’s TAIEX closed at 17,553.76, up 50.48 points or 0.29 per cent.
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DITP taps Walmart as new sales channel for Thai exports
Boonrawd Brewerys innovative Stackable Design for Singha Drinking Water won the Thaistar Packaging Awards 2021
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