#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Jobless claims dip below 1 million for first time in more than four months

EconAug 14. 2020

By The Washington Post · Eli Rosenberg · NATIONAL, BUSINESS, US-GLOBAL-MARKETS 
WASHINGTON – About 960,000 workers filed for unemployment insurance last week, which marks the first time that initial claims dipped below 1 million since mid-March, when the coronavirus pandemic first took hold and workers were told to stay home.

The weekly claims figure for the week ending Aug. 8 fell below the 1.18 million claims from last week but remained well above historic highs. The pre-pandemic record for initial weekly claims was 695,000, from 1982, another recession.

Another 488,000 new claims were filed for Pandemic Unemployment Assistance, which is offered to gig and self-employed workers.

All told, more than 28 million people are currently receiving some form of unemployment benefits as of the week of July 25, down more than 3 million from the previous week.

Economist said that the longer the pandemic drags down the economy, the more job losses will become permanent – and the more likely that people filing weekly claims are not going to bounce back and be rehired, as many were earlier in the pandemic.

“We’re finally below 1 million, so that’s something to celebrate,” said Beth Ann Bovino, the chief economist at S&P Global Ratings Services. “But it stops there. The worry I have is that the times of quick recalls are in the past. I suspect that these jobs being lost are permanent, and that’s a real problem for the economy and for these households.”

The numbers come as economic issues take increased prominence in the presidential election. President Donald Trump has been touting the numbers of jobs that have been regained in the last three months, despite the unemployment rate and weekly claims remaining around historic highs.

Congress continues to be deadlocked in negotiations over extending the extra federal unemployment benefits that expired at the end of July. Economists have warned about the damage to the economy if those enhanced benefits, which many workers credit with helping them keep up to date on basic payments of rent and groceries, are not renewed.

Trump on Saturday issued an executive order that he claimed would enhance unemployment benefits by circumventing Congress, but the order raises questions about legality and how it would be implemented by the states. It’s unclear whether it will affect unemployment insurance in the near future.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Prayut to chair first meeting of economic management panel on Aug 19

EconAug 14. 2020Prime Minister Prayut Chan-o-cha 

By The Nation

Prime Minister Prayut Chan-o-cha will chair the first meeting of a new panel tasked with managing the economy amid the virus crisis on August 19, said Thai Chamber of Commerce chairman Kalin Sarasin. The opening meeting will evaluate the economic situation, he said.

The committee will hear private sector proposals that the government urgently launch measures to bridge the economic gap, solve unemployment, help small business operators survive the outbreak and boost domestic tourism.

The PM on August 13 announced the panel was being formed to deal with the economic impact of Covid-19. The committee will be chaired by Prayut and run by 22 members – 11 ministers plus the Bank of Thailand governor and representatives from the Federation of Thai Industries, the Thai Bankers’ Association and the Thai Chamber of Commerce.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Prayut divvies up responsibilities among his six deputies

EconAug 13. 2020Newly appointed Energy Minister Supattanapong Punmeechaow, right, will also oversee the Finance Ministry in his capacity as deputy PM. 

By The Nation

Prime Minister Prayut Chan-o-cha on Thursday (August 13) signed an order assigning responsibilities for all six deputy prime ministers, the government’s deputy spokesperson Traisulee Traisoranakul said.

According to Prayut’s orders, newly appointed Deputy PM and Energy Minister Supattanapong Punmeechaow will also look after the Finance Ministry, Board of Investment and the National Economic and Social Development Council, while incumbent Foreign Minister Don Pramudwinai, who has just been named deputy PM, will also oversee the Ministry of Higher Education, Science, Research and Innovation.

Incumbent Deputy PM Prawit Wongsuwan will be in charge of four ministries, namely Digital Economy and Society, Natural Resources and Environment, Interior and Labour, and will also oversee the National Intelligence Agency and the National Security Council.

Deputy PM Wissanu Krea-ngam will also oversee four ministries, namely Justice, Culture, Education and Industry, as well as the government’s Public Relations Department.

Current Public Health Minister Anutin Charnvirakul, will be in charge of two additional ministries in his capacity as deputy premier, namely Tourism and Sports and Transport.

Incumbent Commerce Minister Jurin Laksanawisit will as deputy PM also oversee the Social Development and Human Security Ministry and the Agriculture and Cooperatives Ministry.

New Higher Education Science, Research and Innovation Minister Anek Laothamatas

Meanwhile, new Higher Education Science, Research and Innovation Minister Anek Laothamatas said on Thursday that his first job will be to create employment opportunities for new graduates. He added that his ministry will have to adjust its policies to serve the demand of students instead of setting its own policies for them to follow.

He said he will also focus on upskilling and reskilling of workers, with the aim of turning his ministry into the country’s brain. He also said that larger sums will be allocated for research and development.

The PM today also announced the establishment of an economic situation management panel to deal with the Covid-19 fallout.

PM Prayut Chan-o-cha

The panel will be chaired by Prayut and run by 22 members – 11 ministers plus the Bank of Thailand governor and representatives from the Federation of Thai Industries, the Thai Bankers’ Association and the Thai Chamber of Commerce.

It will draw up directions for economic recovery and follow up on progress of their implementation.

Provincial-level committees were also set up to advise governors of provinces on developing projects to benefit local people.

Related story: Prayut lays out 5 directions for new Cabinet

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

News of Covid-19 vaccine in Russia helps boost SET

EconAug 13. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index rose 9.85 points or 0.74 per cent, closing at 1,346.69 today (August 13), with transactions totalling at Bt77.812 billion with an index high of 1,353.53 and a low of 1,343.09.

In the morning session, a stock analyst at Krungsri Securities said he expected the index to rise between 1,345 and 1,350 before falling as Russia has claimed to have successfully developed a Covid-19 vaccine, while the price of oil rose to more than US$42 (Bt1,305) per barrel.

However, the analyst said the index will still be under pressure from uncertainty following a planned $1-trillion economic stimulus package in the US and US-China trade negotiations on Saturday.

The top 10 stocks with the highest trade value today were KBANK, AOT, BBL, KCE, STGT, MINT, PTT, SCB, HANA and CPALL.

As of 4.30pm, the price of crude oil had risen by $0.13 or 0.30 per cent to $42.80 per barrel, while gold dropped by $4.80 or 0.25 per cent, to $1,944.20 per ounce.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 23,249.61, up 405.65 points, or 1.78 per cent.

China’s Shanghai SE Composite Index closed at 3,320.73, up 1.46 points, or 0.044 per cent, while Shenzhen SE Component Index closed at 13,291.32, down 17.20 points, or 0.13 per cent.

Hong Kong’s Hang Seng Index closed at 25,230.67, down 13.35 points, or 0.053 per cent.

South Korea’s KOSPI Index closed at 2,437.53, up 5.18 points, or 0.21 per cent.

Taiwan’s TAIEX Index closed at 12,763.13, up 92.78 points, or 0.73 per cent.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Trade department to push for RCEP signing in October

EconAug 13. 2020The department’s director-general Auramon Supthaweethum 

By The Nation

The Department of Trade Negotiations will urge the Cabinet in October to consider signing the Regional Comprehensive Economic Partnership (RCEP) pact, the department’s director general Auramon Supthaweethum said.

She added that the vetting of all 20 chapters of the accord had been completed and that it can be signed during the Asean Summit in November, which will be held in Vietnam.

After the signing, Thailand will have to undertake a parliamentary process to rectify the deal. The agreement is expected to come into force by mid next year.

RCEP covers 16 countries – the 10 members of Asean plus the six countries that the grouping has free trade agreement (FTA)s with, namely Australia, China, India, Japan, South Korea and New Zealand.

However, India has not signed the RCEP accord as of now.

She said the department was educating Thai farmers and business owners on how they can benefit from the agreement.

The Commerce Ministry is also studying plans to set up a fund to compensate parties affected by Thailand’s FTAs with foreign countries or free-trade blocs.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Durian exports soar a yummy 73% compared to last year

EconAug 13. 2020

By THE NATION

Thailand exported $1.14 billion (Bt35.43 billion) worth of fresh durian to global markets in the first half of the year, or 69 per cent of total fruit exports, the Department of Trade Negotiation said, citing statistics.

Director-general Auramon Supthaweethum said total durian exports in the January-June 2020 period grew a huge 73 per cent compared to the first half last year.

The top export market for durian was China, amounting to $1.02 billion in value. Durian exported to the Asian giant accounted for 73 per cent of total durian exports, increasing by a whopping 140 per cent compared to the same period in 2019.

Durian exported to Hong Kong and Asean represented 15 per cent and 12 per cent of the total, with a respective value of $207 million and $164 million.

Vietnam was the main Asean export market, Auramon said, adding that durian exports to Hong Kong rose by 34 per cent and to Asean 25 per cent.

Auramon mentioned that free trade agreements (FTAs) were important for the growth of durian exports, since it allowed the fruit to be exempted from tax, making it more competitive in foreign markets.

Thailand has FTAs with nine other ASEAN states, China, Hong Kong, Australia, New Zealand, Japan, India, and Chile. The country earned total revenue of $1.39 billion from exporting durian to its FTA partners.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

SET rises on news of Russian Covid-19 vaccine, advancing oil price

EconAug 13. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index rose by 12.75 points, or 0.95 per cent, to 1,349.59 this morning (August 13).

A stock analyst at Krungsri Securities expected the index to rise between 1,345 and 1,350 before falling as Russia claimed to have successfully developed a Covid-19 vaccine, while the price of oil rose more than US$42 (Bt1,305) per barrel.

However, the analyst said the index would be under pressure from uncertainty following a planned $1-trillion US economic stimulus package, and US-China trade negotiations this Saturday.

The SET Index closed at 1,336.84 on Tuesday, up 14.83 points, or 1.12 per cent. Total transactions amounted to Bt71.98 billion, with an index high of 1,343.16 and a low of 1,332.24 points.

The analyst recommended that investors buy:

> Stocks whose second-quarter performance will improve, such as SPRC, BGrim, CPF, STA, STGT, AJ, JMT, Chayo, PTG and BCH.

> Energy stocks that benefit from the rising crude oil price, such as PTT, PTTEP, Top, PTTGC, SPRC and IVL.

> Tourism and hotel stocks that benefit from news of Russia’s Covid-19 vaccine, such as AOT, Mint, Centel and ERW.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Gold price flat despite mass buy-ups after price drops sharply

EconAug 13. 2020

By The Nation

The price of gold was unchanged in morning trade today (August 13), the Gold Traders Association reported.

As of 9.33am, the buying price of a gold bar was Bt28,300 per baht weight and selling price Bt28,400, while gold ornaments cost Bt27,788.28 and Bt28,900, respectively.

At close yesterday, the gold price dropped by Bt850 per baht weight due to high volatility, causing the price to change as many as 42 times.

The Comex (Commodity Exchange) gold price to be delivered in December rose by US$2.7, or 0.14 per cent, to $1,949 (Bt60,491.17) per ounce at yesterday’s close.

The gold price closed in positive territory as investors purchased the metal after a sharp price drop on Tuesday. Besides, gold contracts gained positive sentiment from the weakening dollar.

Association chairman Jitti Tangsitpakdee said yesterday that in the short term, the gold price could drop further as foreign funds begin to sell the metal for profit in response to news that Russia has developed and is exporting its Covid-19 vaccine.

“Although there were mass gold buy-ups in Asian markets, investors should closely monitor the situation caused by mutual funds selling gold,” he said.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Stocks briefly erase pandemic losses; oil rallies

EconAug 13. 2020

By Syndication Washington Post, Bloomberg · Vildana Hajric, Claire Ballentine · BUSINESS, US-GLOBAL-MARKETS 
U.S. stocks briefly surpassed the all-time closing high reached before the coronavirus pandemic, propelled by surging technology shares. Gold rebounded, the dollar weakened and Treasury yields rose to five-week highs.

The S&P 500 climbed as high as 1.6%, topping the 3,386.15 level reached on Feb. 19, and capping the more than 50% rally since the market lows in March. The record intraday high of 3,393.52 was set the same day. Ten of the benchmark index’s 11 industry sectors rose Wednesday, led by technology, health care and consumer discretionary shares. The Nasdaq Composite outperformed the S&P as Apple Inc., Microsoft Corp. and Tesla Inc. jumped. In Europe, the Stoxx Europe 600 Index rose for a fourth day.

“The main force that’s been driving markets the last few weeks has really been momentum,” said Kevin Caron, portfolio manager for Washington Crossing. “We’ve got a market that’s focused on the good case outcome for the virus, we’ve got a market that has taken a great deal of comfort in that fiscal policy is going to be there to support an economy through tough times.”

Treasury yields dropped from the highs of the day after the government’s sale of $38 billion in 10-year notes attracted stronger-than-forecast demand.

Silver joined gold in rebounding, as investors decided the flight from precious metals driven by advancing bond yields had gone too far.

“It was just a matter of time. Once we hit 3,300, I think everybody knew we’d get to the new record before long,” said Matt Maley, chief market strategist at Miller Tabak + Co. “The question is whether we’ll rally further now that we’ve got it. I think we’ll take a breather now that we’ve reached the new high, which would actually be quite healthy.”

After setting a new peak on Friday above $2,070 an ounce, bullion had since tumbled as much as 10%. Crude futures posted a five-month high in New York trading after an industry report pointed to a third straight weekly drop in American crude stockpiles.

Elsewhere, Europe’s corporate bond spreads narrowed to their tightest since early March, just a few basis points off pre-virus levels, according to a Bloomberg Barclays index.

These are the main moves in markets:

Stocks

The S&P 500 Index jumped 1.4% to 3,380.35 as of 4:01 p.m. EDT, the highest in about six months on the largest surge in more than five weeks.

The Dow Jones industrial average climbed 1% to 27,976.69, the highest in almost six months.

The Nasdaq Composite Index climbed 2.1% to 11,012.24, the largest increase in more than three weeks.

The MSCI All-Country World Index jumped 1.2% to 570.82, the highest in almost six months on the biggest surge in more than five weeks.

Currencies

The Bloomberg Dollar Spot Index fell 0.2% to 1,179.14, the largest fall in a week.

The euro gained 0.4% to $1.1788, the biggest advance in a week.

The Japanese yen depreciated 0.4% to 106.89 per dollar, the weakest in three weeks.

Bonds

The yield on 10-year Treasurys climbed two basis points to 0.66%, the highest in more than five weeks.

Germany’s 10-year yield increased three basis points to -0.45%, the highest in four weeks.

Britain’s 10-year yield gained four basis points to 0.237%, the highest in almost eight weeks.

Commodities

West Texas Intermediate crude increased 2.3% to $42.56 a barrel, the highest in about five months on the largest climb in more than three weeks.

Gold was little changed at $1,911.27 an ounce, the weakest in almost three weeks.

Copper increased 0.2% to $2.88 a pound.