AWS provides cloud service to AP Thailand’s smart platform

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https://www.nationthailand.com/property/30378512?utm_source=category&utm_medium=internal_referral

AWS provides cloud service to AP Thailand’s smart platform

Nov 19. 2019
From left: Songpon Busparoek, Deputy Chief Digital Officer of AP (Thailand); Vittakarn Chandavimol, Chief Corporate Strategy and Creation of AP Thailand Group, and Dr. Chawapol Jariyawiroj, Country Manager of Amazon Web Services (Thailand)

From left: Songpon Busparoek, Deputy Chief Digital Officer of AP (Thailand); Vittakarn Chandavimol, Chief Corporate Strategy and Creation of AP Thailand Group, and Dr. Chawapol Jariyawiroj, Country Manager of Amazon Web Services (Thailand)
By THE NATION

298 Viewed

Amazon Web Services (AWS) has provided cloud service to AP Thailand’s Smart World digital platform, the property developer said.

Services on the platform range from asset management, replying to questions by project management, SMS notification for parcel delivery, fast notification for repair of assets or common facilities with real-time status monitoring, online payment of common facilities, deliveries of water and other bills, to facilitating contact with security, hospital and police station in an emergency, among others.

The new digital platform allows residents to manage their properties and connect to other services seamlessly, reinforcing the company’s vision to improve the quality of life for Thais with smart and connected technology. By the end of 2019, AP aims to have more than 70,000 users on Smart World.

“Our vision is to create a blueprint for good-quality life through the development of products, services and innovations,” said Vittakarn Chandavimol, Chief of Corporate Strategy and Creation, AP Thailand Group.

“Amazon Web Services and AP Thailand share a common goal to continuously innovate for our customers. We are delighted that AP selected AWS as its cloud provider, enabling the launch of this new customer service,” said Chawapol Jariyawiroj, Country Manager/Amazon Web Services (Thailand).

Thanachart Bank to cut MRR

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https://www.nationthailand.com/business/30378500?utm_source=category&utm_medium=internal_referral

Thanachart Bank to cut MRR

Nov 19. 2019
By THE NATION

2,029 Viewed

Thanachart Bank announced today (November 19) that it would cut its Minimum Retail Rate (MRR) lending rate to 7.150 per cent from 7.500 per cent, effective December 1.

The move is in response to the Monetary Policy Committee’s decision on November 6 to cut thekey policy rate by 25 basis points to 1.25 per cent. The rate reduction also aims to alleviate the burden of retail borrowers.

Tech lifts Nasdaq to record as retail drags on Dow

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https://www.nationthailand.com/business/30378530?utm_source=category&utm_medium=internal_referral

Tech lifts Nasdaq to record as retail drags on Dow

Nov 20. 2019
By Syndication Washington Post, Bloomberg · Vildana Hajric, Claire Ballentine450 Viewed

The Nasdaq Composite climbed to a fresh record on the back of gains in megacap tech companies even as the Dow Jones Industrial Average sank following disappointing reports from retailers.

Gains in Facebook, Broadcom and Tesla lifted the Nasdaq while Home Depot was the biggest drag on the Dow after the company cut its annual forecast for the second time this year. Investors also mulled the implications of a report that U.S. and Chinese negotiators may link the size of tariff rollbacks to terms set during talks in May. Ten-year Treasury yields dipped below 1.8%, while oil tumbled for a second day.

The dollar edged higher against its major peers after President Donald Trump said he “protested” U.S. interest rates that he considers too high in a meeting with Federal Reserve Chairman Jerome Powell at the White House. The Fed said Powell’s remarks were “consistent” with his recent public comments.

Investors remain sensitive to any signs of whether U.S. consumers can continue supporting economic growth and are looking for developments on trade after months of closely watched negotiations. One challenge for stocks across developed markets lies in the MSCI World index’s 21% advance this year, which has propelled the benchmark to its highest estimated price-earnings ratio since 2017.

“More and more people are concluding that the economy has some strength, that it’s strong enough to support rising stock prices,” said Kate Warne, an investment strategist at Edward D Jones & Co. in St. Louis. “While consumer spending is falling, it’s not falling off a cliff. Overall most of the news has been good, investors are feeling more confident.”

Elsewhere, European stocks ended lower. Equities fell in Tokyo and climbed in Shanghai. Gold held steady.

Here are some key events coming up this week:

–U.S. economic indicators due for release include initial jobless claims on Thursday.

–Britain holds its first televised leadership debate before next month’s election Tuesday.

–Federal Reserve speakers this week include district bank presidents John Williams, Loretta Mester and Neel Kashkari.

–European central bankers speaking this week include European Central Bank President Christine Lagarde, Bundesbank chief Jens Weidmann, along with Yves Mersch, Luis de Guindos, Pablo Hernandez de Cos and Philip Lane.

–China announces its loan prime rates, a benchmark for borrowing costs, on Wednesday.

These are the main moves in markets:

Stocks

–The S&P 500 index slipped less than 0.1% at the close of trade in New York; the Nasdaq Composite gained 0.2%; the Dow fell 0.4%.

–The Stoxx Europe 600 index fell 0.1%

–The MSCI Emerging Market index gained 0.4%.

Currencies

–The Bloomberg Dollar Spot index rose less than 0.1%.

–The pound fell 0.2% to $1.2926.

–The euro increased less than 0.1% to $1.1077.

–The Japanese yen gained 0.1% to 108.55 per dollar.

Bonds

–The yield on 10-year Treasuries dipped three basis points to 1.78%.

–Germany’s 10-year yield was little changed at -0.34%.

–Australia’s 10-year yield declined four basis points to 1.13%.

Commodities

–West Texas Intermediate crude declined 3.2% to $55.25 a barrel.

–Gold was little changed at $1,472.17 an ounce.

Google, Facebook, Amazon, Apple push back on House tech concerns

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https://www.nationthailand.com/business/30378529?utm_source=category&utm_medium=internal_referral

Google, Facebook, Amazon, Apple push back on House tech concerns

Nov 20. 2019
By Syndication Washington Post, Bloomberg · Ben Brody437 Viewed

Google, Facebook, Amazon and Apple defended their business practices in responses to detailed questions by lawmakers conducting an inquiry into antitrust issues in the tech sector.

The answers, released Tuesday by the House subcommittee overseeing the probe, come as antitrust scrutiny of the companies has escalated rapidly, with federal and state enforcers opening formal investigations into Facebook and Google.

The four companies received the questions from Rep. David Cicilline, D-R.I., who chairs the panel, in September. Separately, the whole committee issued requests for extensive records on the firms’ business practices, acquisitions, executive communications and other issues. The companies also are in the process of responding to those requests.

Here’s what the four firms said:

Google

– Disputed the idea that it controls too much of the search market and the digital ad ecosystem.

– Downplayed suggestions that it prioritizes its own services.

– Denied that advertisers can only use Google Display & Video 360 ad service to purchase advertising inventory on its YouTube video platform, saying certain partners can buy ads directly from Google’s sales team.

– Denied that its search ranking system considers whether a publisher has adopted use of its Accelerated Mobile Pages – a format that hosts web content directly inside search results. Google has said that the new format significantly accelerated loading times on websites.

Facebook

– Defended policies that restricted some third-party app developers from using its platform, insisting it has never tied access to its data to spending on advertising even though documents from a lawsuit have told a different story.

– Said its changes to WhatsApp’s privacy policy were consistent with its promises not to alter the chat platform’s sharing practices.

– Explained that it restricted video app Vine from its platform in 2013 because it “considered Vine to be an app that replicated Facebook’s core News Feed functionality.”

Amazon

– Pushed back against criticism that it unfairly competes with third-party sellers in its marketplace with its own products, saying its decision-making for how third-party sellers are treated is driven by a desire to give consumers wide selection, low prices and convenient delivery.

– Defended its private-label line known as AmazonBasics, saying private-label products are a “common retail practice.” It said it “generally does not distinguish the treatment of brands” based on the brand owner.

– Said its algorithm for listing shopping results doesn’t consider whether a merchant uses its Fulfillment by Amazon logistics service or whether a product is Amazon’s private label.

– Said it prohibits its private-label business from using individual sellers’ data to make decisions about product introductions, pricing or inventory.

Apple

– Pointed out that there are many apps that compete with its own services such as web browsing, maps, music and video.

– Said users cannot uninstall its Safari web browser from the iPhone or switch to another default because Safari is “an essential part of iPhone’s functionality” as an operating system app.

– Explained that it’s not possible to reliably repair some products “because it is not feasible to split products into its component parts without significant risk of damage to those components.”

Goldman banker in insider case had cash in sunglasses case

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https://www.nationthailand.com/business/30378527?utm_source=category&utm_medium=internal_referral

Goldman banker in insider case had cash in sunglasses case

Nov 20. 2019
By Syndication Washington Post, Bloomberg · Anthony Lin436 Viewed

The Goldman Sachs banker, on trial for insider trading, had a secret in his closet: $24,000 tucked into a sunglasses case.

The stash, prosecutors said Tuesday, shows there’s a risk he might flee before his trial on insider-trading charges.

Vice President Bryan Cohen had $24,000 in the case, hidden in a dresser drawer in his closet, prosecutors in Manhattan said Tuesday in a letter to a judge. The French citizen also has an overseas bank account with more than $533,000 and owns four properties in France worth over $500,000, prosecutors said, citing Cohen’s tax returns.

U.S. District Judge William Pauley had set bail for Cohen at $750,000 and ordered him to remain under house arrest with a GPS bracelet until his trial. Cohen is seeking to be released from house arrest.

Cohen’s lawyer Benjamin Brafman argued in a letter on Monday that his client’s confinement in a one-bedroom apartment, which he shares with his girlfriend and mother, was detrimental to his “physical and mental health.”

The lawyer said it’s not unusual in other cultures to have large amounts of cash at home, including in France.

Cohen, 33, was arrested on Oct. 18 and charged with two counts of conspiracy for his role in an insider-trading ring. Prosecutors claim he passed information about pending mergers to another member of the ring using burner phones and speaking in code.

Goldman placed Cohen on paid leave following his arrest.

Last month, Cohen fired his lawyer after a judge ordered him to remain under house arrest and tripled the amount of his bond, from $250,000 to $750,000.

Council told to ease plight of grassroot people

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https://www.nationthailand.com/business/30378517?utm_source=category&utm_medium=internal_referral

Council told to ease plight of grassroot people

Nov 20. 2019
Prime Minister Prayut Chan-o-cha

Prime Minister Prayut Chan-o-cha
By THE NATION

2,657 Viewed

Prime Minister Prayut Chan-o-cha urged the Council of Economic Ministers to prioritise solving the problems of grassroot people, government spokeswoman Narumon Pinyosinwat said yesterday (November 19).

He said the ministers would have to solve economic problems for people at all levels of society, especially low-income earners.

The premier expressed his concern after a briefing yesterday by the National Economic and Social Development Council on the economic situation in the third quarter.

Deputy Prime Minister Somkid Jatusripitak said Thailand should focus more on developing the domestic economy.

GSB sets aside Bt25 billion in loans for home buyers

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https://www.nationthailand.com/business/30378515?utm_source=category&utm_medium=internal_referral

GSB sets aside Bt25 billion in loans for home buyers

Nov 20. 2019
President Chatchai Payuhanaveechai

President Chatchai Payuhanaveechai
By THE NATION

1,971 Viewed

Government Savings Bank (GSB) will launch a mortgage loan campaign this month with a low interest rate to serve those wanting to buy a home under Bt3 million or more.

President Chatchai Payuhanaveechai said the bank is setting aside a sum of Bt25 billion for the purpose.

He said the loans would offer a lending rate of a little lower than 2.99 per cent. Installments in the initial period will also be low.

The bank has outstanding mortgage loans of Bt350 billion, representing 12 per cent of the total mortgage loan share in the market.

Chatchai believes the government will continue to introduce new economic stimulus measures to lift the economy at the end of this year and the next. This will help boost consumers’ confidence.

He said the recent lending rate cut by both state and private banks would also help boost the economy.

MoU on collaboration with Korean agency in EEC approved

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https://www.nationthailand.com/business/30378518?utm_source=category&utm_medium=internal_referral

MoU on collaboration with Korean agency in EEC approved

Nov 20. 2019
Deputy spokeswoman Ratchada Thanadirek

Deputy spokeswoman Ratchada Thanadirek
1,058 Viewed

The Cabinet yesterday (November 19) approved the draft memorandum of understanding (MoU) on collaboration between the Korea Trade-Investment Promotion Agency (KOTRA) and the Eastern Economic Corridor (EEC) Office.

Deputy spokeswoman Ratchada Thanadirek said the MoU will be signed by Thailand and South Korea during Prime Minister Prayut Chan-o-cha’s participation in the Asean-ROK Commemorative Summit during November 25-26 in Busan, Republic of Korea.

The MoU covers collaboration between the two countries on business, industrial development in the EEC and high tech industries such as robotics, next generation automotive, smart electronics, bio technology, space technology and smart cities.

Magical matches for Mickey and Minnie

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https://www.nationthailand.com/lifestyle/30378492?utm_source=category&utm_medium=internal_referral

Magical matches for Mickey and Minnie

Nov 19. 2019
By The Nation

109 Viewed

Jewellery brand Prime has joined up with Walt Disney to introduce a special Mickey Mouse collection featuring 25 pieces designed by Prima that can be mixed and matched with any look as well as gold sculptures of everyone’s favourite mouse.

“Prima is the first and only 99.9-per-cent (24K) gold and diamond jewellery brand in Thailand to be licensed by Walt Disney to create this limited edition collection. The ‘Mickey Mouse’ Collection brings Mickey and Minnie’s fresh and classic charm to life and presents it through modern designs for Thai fans to enjoy. The special designs will appeal to everyone, especially teenagers and adults, as well as Disney fans. Beyond being accessories, they are also collectable items for those who love Mickey and Minnie because they are exclusive and only available in Thailand,” said Chanvit Khieonavavongsa, managing director of Prima Gold International.

The Mickey Mouse Collection features 25 pieces including 10 22-karat gold accessories, seven diamond accessories, six 18K gold accessories and two gold sculptures. Every piece is unique and iconic, especially the 24K gold accessories, made with Prima’s special technique called Silk Line, which requires great expertise and craftsmanship. Prices start at Bt6,000.

Find out more by calling (02) 745-6111.

U City supports plan of Vienna House via hotel acquisitions

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https://www.nationthailand.com/property/30378473?utm_source=category&utm_medium=internal_referral

U City supports plan of Vienna House via hotel acquisitions

Nov 18. 2019
By THE NATION

1,017 Viewed

Following the acquisitions of 19 hotels in Germany and Switzerland this year, U City is optimistic that the takeovers will pave the way for its subsidiary Vienna House (VH) to facilitate individualistic seamless travel across Europe.

Vienna House (VH), the largest hotel group in Austria, is also eyeing investment opportunities in Asia.

Piyaporn Phanachet, Chief Executive Officer of U City, said that U City invested over Bt890 million in acquiring 19 hotels, of which 17 are in operation while two others are in the pipeline via its subsidiary, Vienna House Germany II GmbH.

This asset portfolio comprises boutique properties from the “arcona” hotel group and five hotels under the Steigenberger brand, of which 18 are located in Germany with one in Switzerland.

All properties will eventually be managed under the Vienna House brand. The new additions brings U City hotel portfolio to 57 hotels/9,210 keys, owned in form of both freehold and leasehold.

In addition, the group also manages third-party hotels under brands (Vienna House, Vienna House Easy, U, Eastin, and Travelodge), boosting the total number of hotels to 117, of which 78 are in operation.

The group aims to explore further business opportunities in Europe, especially business travel which dominates the overall travel market in the region, while also looking to embrace hotels with ununiformed elements that flare with their own unique characteristics, be it structures with historic façade, central location, or room designs.

Rupert Simoner, CEO of Vienna House, mentioned that the key reason Vienna House came down to this deal was because of the locations, the properties themselves, and the existing human capital.

Rupert Simoner, CEO of Vienna House

Rupert Simoner, CEO of Vienna House

“The German market, both inbound and outbound, is considered one of the most important markets for us. This is the first objective of our expansion apart from the properties’ structures and designs that can fit under the Vienna House brand. Moreover, the people working in these hotels have the spirit of what we look for” he said.

“The arcona hotels are very well maintained with relatively solid performance with a clear upside. So, what we’ll focus on sales as we expect to see 3 per cent growth in the first 18 months,” added Simoner.

Tapping into a niche “boutique lifestyle market,” the newly-branded Vienna House hotels will cater to the needs of both business travelers and leisure segment alike.

“The way we define luxury is probably different nowadays as we may no longer look at the stars rating but the trend of travellers seeking for service that is unique and practical. If you want to characterise our brand’s philosophy by one word, I’d say “individualistic,” explained Simoner.

In 2020, we will see the boutique Vienna House brand emerge across several locations in Austria, Germany, and Switzerland; namely Stuttgart, Wetzlar, Osnabruck, Munich, Bremen, Schaffhausen, Leipzig, Baden-Baden, Potsdam, Berlin, Stralsund, Rostock, Braunschweig, Wismar and Eisenach.

These properties will all be converted under Vienna House’s sub brands: Vienna House, Vienna House Easy, and Vienna Townhouse; by beginning 2020.

On an expansion outlook, Vienna House is prone to 7-9 per cent growth annually or organically up to five properties to be signed into the group per year.

“Asia is a fast-growing market and with our strong partner, U City, we now have offices throughout Asia. So, that’s where the groundbreaking is going to be when we will have one or two flagship development of Vienna House in an Asian metropolitan cities,” he added.

“As a shareholder, we are delighted to see the accomplishment of Vienna House, which will be only a starting point. Their fun, creative lifestyle hotels will be a good add-on to modern business and leisure travellers. We are keen to bring in synergies, where possible, and support the brands to grow even further.”, Piyaporn said.

U City is a property investor and developer with total assets of Bt53 billion as of the third quarter,2019.