The airline will now go ahead with its plan to expand its flight routes to foreign countries, kicking off with the direct flight from Bangkok (Don Mueang) to Hiroshima in Japan on December 18 this year.

“We are targeting both families and business people,” he said. “Hiroshima has many natural attractions, which makes it a good place for tourists to visit all year round. We are looking to add more direct flights to Japan in the future and hope that the new routes will help us reduce our losses.”

The facility produces Recycled Polyethylene Terephthalate (rPET) flakes. The acquisition has a combined capacity of 40,000 tonnes/annum.

Green Fiber International has been offering high-quality recycled PET bottle flakes for food contact to the US West Coast packaging market since 2018.

This acquisition extends IVL’s recycled flake supply chain to the West Coast, allowing the company to further support the efforts of its customers in the water and soft drinks industry to ensure that PET bottles are recycled and put to further use, thus ensuring the creation of a circular economy.

The acquisition is strategically in line with IVL’s long-term sustainability objectives and part of the company’s stated plan to invest significantly in recycling over the next five years.

The proximity of the facility to a large supply of recovered PET bottles on the US West Coast will create new opportunities to meet the increasing demand for rPET in more sustainable packaging solutions.

“We are really excited to have completed the acquisition of Green Fiber International, and welcome GFI’s employees to the Indorama Ventures family. At Indorama Ventures, we play a key role in promoting the circular economy and environmental sustainability globally by pursuing the right opportunities to fill gaps that are intrinsic to a sustainable future. We strongly feel that this acquisition will contribute to profitable future growth in the sustainable recycling business with the potential to expand further,” Yashovardhan Lohia, executive director and chief recycling officer of Indorama Ventures, said.

Indorama Ventures, listed in Thailand, is one of the world’s leading petrochemicals producers, with a global manufacturing footprint across Africa, Asia, Europe and Americas.

Page and co-founder Sergey Brin will no longer be involved in day-to-day operations of Alphabet, the parent company, according to an announcement Tuesday, though they will keep their board seats. Brin was president of Alphabet.

It marks the first time Page won’t have oversight of at least some of the company’s operations. Page has turned over the CEO role once before, in 2001, to Eric Schmidt, but Page took on a product role. He took over Google again 10 years later when Schmidt stepped down.

“We are deeply committed to Google and Alphabet for the long term, and will remain actively involved as board members, shareholders and co-founders,” Page and Brin wrote in the announcement. “We plan to continue talking with Sundar regularly, especially on topics we’re passionate about.”

Pichai inherits sole responsibility for a company buffeted by antitrust investigations and the ire of President Donald Trump. Pichai had already become the public face for the company in recent years, meeting with the president, testifying in Congress and leading Google’s annual developer conference and quarterly investor calls.

Under Pichai, Google has been trying to become more buttoned up, amid a series of leaks to the media and worker pushback. Pichai often spoke at Google’s weekly all-hands meetings, acknowledging in October that the company was struggling with transparency and with how to deal with internal debate over controversial topics, according to a recording of the meeting obtained by The Washington Post.

In their letter Tuesday, the co-founders seemed to acknowledge the challenges Pichai faces, writing that he will be “accountable” for Google going forward and that they would act more as “proud parents” of the company.

Unlike his Silicon Valley peers at Apple and Facebook, Page has remained largely out of the public in recent years. He stopped attending the company’s weekly all-hands confab and skipped the annual shareholder meeting. One shareholder even confronted board members in June over Page’s disappearing act only to be told that he simply couldn’t make it.

He even scaled back the annual Halloween celebration at his home, replacing prior years’ elaborate displays and full-sized candy with mini-size treats and modest Christmas lights.

In 2013, Page acknowledged a health condition that affected his vocal cords and a chronic inflammation of his thyroid. On quarterly earnings conference calls, Page’s voice had sounded raspy.

But Page was active behind the scenes, signing off on millions of dollars in payouts to former officials who were accused of inappropriate relationships while working at Google. Last month, the company’s board hired a law firm and formed a special subcommittee to investigate complaints of sexual misconduct among senior executives. Alphabet is facing lawsuits alleging it failed shareholders by approving lucrative exit packages for executives despite credible claims of misconduct.

Brin and Page hold a majority of the company’s voting stock, meaning major board decisions still need their stamp of approval.

Page has been CEO of Alphabet since the holding company was formed in 2015 and Pichai was named

Google CEO. Alphabet oversees other divisions including X, from which experimental projects emerge, and several investment arms. Page also has outside interests, such as his flying car startup Kitty Hawk.

Founded by Brin and Page in a garage near Stanford University in 1998, Google has since ballooned to a $900 billion company that has taken aim at nearly corner of consumer life, from retail sales to autonomous cars to home automation to city planning. It has the world’s most used browser, Chrome, and the most ubiquitous mobile phone software, Android.

But the lifeblood of the firm remains advertising, which accounts for about 85% of sales. The company’s stranglehold on digital ad sales is likely central to antitrust investigations underway at the Justice Department and from nearly every state attorney general in the country.

Despite regulatory concerns over its reach, Alphabet announced nearly $5 billion in acquisitions in recent months, including fitness tracker Fitbit and data analysis firm Looker. The transactions drew sharp criticism from some lawmakers, and the U.K.’s competition watchdog launched a probe into the Looker deal.

More recently, employees have been protesting Google’s workplace conditions and the aims of the company, which include contracts with government agencies and a clandestine attempt to make software available in China, where the company is largely banned.

Four engineers were fired last month for what Google said were violations of its policies on accessing confidential internal files and calendars. But the engineers said it likely had more to do with their activism, which included creating petitions and discussing the possible formation of a union. Google has denied those claims.

Pichai, whom colleagues describe as deliberate and even-keeled, has been at Google since 2004. His work helped grow Android operating software and the Chrome browser before he ascended to the top Google job as part of the company’s restructuring.

“I want to be clear that this transition won’t affect the Alphabet structure or the work we do day to day,” Pichai wrote in a companywide email Tuesday.

Last month, Pichai halted the weekly all-hands meetings, known as TGIF, weeks after the leaked meeting, saying he would no longer field questions about cultural or personnel matters.

Of the three new properties, the first is located at Design Village community mall on Phutthamonthon Sai 2. Costing Bt70 million in investment, it will open on December 9 with a forecast revenue of Bt300 million a year.

The second, costing Bt60 million, is located at People Park Onuch community mall. It will open its doors on December 19 with an estimated sales revenue of Bt200 million a year.

The third outlet, and the first Gourmet Thai stand-alone supermarket branch to have commenced operation, is located at I’m Chinatown community mall. Costing Bt10 million in investment, it opened on November 29 and expected Bt50 million in annual sales.

In addition to the new openings this year, The Mall Group’s Home Fresh Mart supermarkets at Ramkhamhaeng and Thapra branches will be upgraded to Gourmet Market in 2020 after renovation.

Chairat expected the combined sales of Gourmet Market and Home Fresh Mart to exceed Bt12 billion this year, up from Bt11.8 billion last year.

This will enable the sellers to access financing at their fingertips, with instant approval, minimal documentation required and zero fees.

Customers can get loans within a minute.

KBank aims to lend Bt1 billion under this type of loan by the end of 2020.

Lazada Thailand deputy CEO Jack Zhang said technology can be leveraged to unlock more growth opportunities for financial institutions and small businesses.

“With this new lending model that removes the tedious manual process of assessing and validating information, a seller can apply and get cash instantly for a loan on his phone. With the partnership, we look forward to enabling more inclusive financial services for the many small businesses and sellers on our platform, as part of our mission to make it easy to conduct business anywhere.”

KBank senior executive vice president Wirawat Panthawangkun said that amid the present e-commerce craze in Thailand, online trading has seen brisk sales. As this channel continues to surge in popularity among traders, newcomers have recently jumped onto the bandwagon.

However, access to funding sources is among their top pain points due to hindrances such as insufficient documents and collateral to support loan applications and having no bank account.

Under the “Better Together” collaboration between KBank and Lazada, sellers on the platform are able to gain access to low-interest loans without the need to provide collateral or documentation and no fees.

The loan limit of Bt600,000 ensures that Lazada’s merchants have enough working capital for their business needs.

The agreement aims to maximise customer services and the sharing of infrastructure nationwide and will enhance both providers’ services, leading to additional revenue.

The move is also aimed at maintaining existing subscribers and widening the subscriber base with more extensive services, benefiting both consumers and the telecom industry.

Dtac currently has 20.4 million mobile phone subscribers and more than 400 customer service points. It provides third and fourth generation mobile services (3G/4G) and is preparing to usher in the 5G era.

TTTBB has a solid foundation with quality fixed broadband and a variety of services, covering a wide range of segments, such as retail customers and corporate clients, and boasts 3 million subscribers with more than 500 stores nationwide.

The partnership is expected to maximize customer value and serve the digital lifestyle.

The MoU covers a partnership on promotion and marketing, leveraging multiple services, namelu mobile broadband, Wi-Fi, over-the-top service and content distribution. Customers will also be able to subscribe and purchase products and services from both companies. Further business collaborations will also be explored in the future.

Jas has informed the Stock Exchange of Thailand that the collaboration will not only enhance its new business opportunities and additional sources of revenue, but also enable TTTBB to maintain existing subscribers and further expand new customer bases.

The NBTC will tomorrow hold a public hearing on the plan toauction 700 MHz, 1800 MHz, 2600 MHz, and 26GHz together on February 16 next year.

Dtac will make a number of recommendations to NBTC regarding the multi-band spectrum auction, Marcus Adaktusson, dtac’s Chief Corporate Affairs Officer, said today (December 2).

“A well-designed and well-timed spectrum auction is critical to 5G deployment in Thailand. While we welcome the proposed multi-band auction model, we propose adjusting the timing of the auction to allow for inclusion of the 3500MHz band. This will allow bidders to acquire the most efficient spectrum portfolios for 5G deployment,”he said.

While the NBTC reportedly plans to auction 3500MHz in advance next year, he said dtac has yet to see a firm commitment as to when that auction will happen as well as details of the 3500MHz auction plan.

The 3500MHz band is currently being used by satellite operator Thaicom.

Technically, the 2600MHz and the 3500MHz bands could be substituted for each other for 5G since they have similar properties.

He noted that the 3500MHz spectrum is becoming the most-used band for 5G service across the world, which means more device and equipment will be available on a cost-effective basis.

Narupon Rattanasamaharn, dtac’s senior vice president, added that if NBTC could not auction 3500MHz in the upcoming auction on February, it should at least quickly provide full auction details of the band.

Given the 190MHz bandwidth of the 2600MHz spectrum will be allocated at the auction, dtac will suggest to NBTC that it impose spectrum caps in the 2600MHz spectrum band to avoid potential market distortion and allow sufficient number of operators to contribute to 5G development in Thailand.

The NBTC may want to make some caps flexible, based on the number of bidders, Adaktusson added.

Dtac will also ask the NBTC to provide clarifications on potential interference, usage restrictions and roll-out obligations of some spectra.

The company cited the NBTC draft term of licensing rules that 20MHz of the 2600MHz is currently being used and as such NBTC should provide relevant clarifications in terms of interference and usage restriction risks to enable proper valuation of the auctioned spectrum.

The NBTC should also set reserve prices at a level which support infrastructure investments.

The proposed reserve price for the 10MHz of spectrum in the 2600MHz band (Bt1.862 billion per licence) is at the higher end of international benchmark and there is a clear risk that much needed investments in network infrastructure will be impeded by the high spectrum prices.

The 1800MHz spectrum band (Bt12.486 billion per licence) is priced many times higher than the international benchmark and will definitely increase the risk of a failed auction.

Moreover, the NBTC should set significant financial guarantees to prevent unserious bidders from entering the race.

In Thailand, family businesses are growing stronger, as out of a total net worth of Bt42 trillion from all Thai businesses, approximately Bt30 trillion is family-run businesses, or 72 per cent of the total business value, and more than 50 per cent of listed companies are family owned, according to Deloitte.

Professionalising the business remains a key concern among family business owners.

Deloitte Private’s subject-matter experts and industry specialists within the Deloitte global network advise family and privately owned businesses, family offices and high net worth individuals, and private equity firms, helping them to grow in an increasingly complex, global and digital business world, the firm said.

“We see an increasing demand from privately owned businesses for professional advice to tackle their most complex challenges: from investing in emerging technologies, expanding in global markets, to navigating tax reforms, restyling the workforce and countering omnipresent risks such as cyberattacks,” said Richard Loi, Deloitte Private leader for Southeast Asia. “We have been advising privately owned organisations, and with Deloitte Private formally launched in Thailand, we aim to expand our network to reach more clients,” he added.

“Our in-depth knowledge, coupled with access to our Asia Pacific and global resources, gives us a unique value proposition to best serve the private market in the region,” said Philip Yuen, chief executive officer for Deloitte Southeast Asia. “Deloitte Private offers a single point of access that the decision-makers of family businesses and privately owned companies strive for.”

One of the service offerings in Deloitte Private is Family Enterprise Consulting, a highly customised service for business and wealth-owning families.

“The economic environment requires businesses to adapt quickly,” said Subhasakdi Krishnamra, country managing partner, Deloitte Thailand. “Family businesses are facing distinct challenges affecting their future success. Being agile and staying in the game will offer businesses growth opportunities and the ability to compete in today’s dynamic markets amid uncertainties.”

“One of the perennial challenges faced by almost every family is balancing the desire to preserve wealth through the generations with the income needs and ambitions of the current generation,” added Phansak Sethsathira, partner and leader of Deloitte Private Thailand. “Our suite of offerings has been designed specifically for this unique group of clients, and our aim is to address some of the fundamental questions and achieve clarity around priorities, wants and needs in order to help define and execute an effective strategy that preserves the family’s wealth and legacy for the future.”

The first Deloitte Private practice in Southeast Asia was launched in Singapore. Besides Indonesia, Deloitte Private will be launching in several other markets in Southeast Asia soon.

Deloitte Private will also launch Best Managed Companies in Indonesia – an awards programme recognising privately held companies for their organisation’s success and achievements.

Best Managed Companies Indonesia joins a global awards programme currently active in the Americas, Europe, Australia, China and now Southeast Asia. The designation is a well-regarded international stamp of quality for best managed private companies.

Airports of Thailand (AOT)’s president Nitinai Sirismatthakarn said the group purchased Term of Reference for both bids.

AOT senior executive vice president for Business Development and Marketing Wichai Bunyu said he was confident that private retail business operators would join in the bids.

The ToR will be available until December 13. Bidders can submit proposals for Suvarnabhumi Airport on January 17, 2020, and Don Mueang Airport on January 20, 2020.

AOT will open proposals for both bids at the same time on January 27, 2020. Both concession are valid for 10 years and 3 months.

Berkshire made a $140-a-share bid for the distributor of technology products that was topped by a $145 offer from Apollo Global Management Inc., CNBC reported. The offer was another effort by the billionaire investor to put a chunk of his record $128 billion cash pile to use and signals that while Buffett is still on the prowl, he may not be willing to outbid private equity firms flush with money.

Buffett has been stymied on the acquisition front in recent years, causing the billionaire investor to express frustration about the “sky-high” prices for decent businesses. He said earlier this year that he was working on a large deal in the fourth quarter of 2018 but it eventually fell through. The lack of deals has also pressured Buffett’s ability to maintain the stock returns that helped make him famous. Berkshire’s stock is on track for its worst underperformance since 2009.

Berkshire’s interest forced Apollo to raise its bid to one that values Tech Data at about $6 billion, including debt. Tech Data helps bring products to market for firms such as Microsoft Corp. and Apple Inc., which is Berkshire’s largest public stock investment as it has a roughly $56 billion stake in the iPhone maker.

“He’s just not going to throw the money out and earn a rate of return below what his minimum target is,” David Kass, a professor of finance at the University of Maryland’s Robert H. Smith School of Business. “He is Buffett because he’s patient.”

The biggest private-equity firms are on a tear. Apollo’s Leon Black said earlier this month that the firm is on track to almost double its assets under management to $600 billion in five years.

A Tech Data buyout by Berkshire would have pushed the Omaha, Nebraska-based conglomerate further into the technology realm, an area that Buffett avoided for decades. It also would have added another family-built business to Berkshire’s mix of retailers, insurers and energy companies. Edward Raymund founded the company and his son Steven Raymund ran the firm for about two decades before becoming chairman. Steven Raymund stepped down in 2017.

For Berkshire, the Tech Data saga likely ends here. Buffett isn’t planning to make a higher bid, according to CNBC. His appetite for a large buyout may continue.

“We continue, nevertheless, to hope for an elephant-sized acquisition,” Buffett said in his annual shareholder letter released earlier this year.