EXIM Thailand promotes Thai businesses in linkage with Next Normal global markets

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EXIM Thailand promotes Thai businesses in linkage with Next Normal global markets

EXIM Thailand promotes Thai businesses in linkage with Next Normal global markets

THURSDAY, SEPTEMBER 22, 2022

In response to the Ministry of Finance’s Policy, The Bank regards Vietnam as a key business counterpart gearing up as a major manufacturing base of the future.

Arkhom Termpittayapaisith, Minister of Finance of Thailand, presided over the opening ceremony of a seminar titled “Vietnam in Focus 2022: The Dream Journey” in the presence of Nikorndej Balankura, Ambassador, Royal Thai Embassy in Hanoi, the Socialist Republic of Vietnam, and welcomed by Rak Vorrakitpokatorn, President of Export-Import Bank of Thailand (EXIM Thailand), at The St. Regis Bangkok Hotel on September 22, 2022.

Minister said that global economic recovery in the post-COVID-19 Next Normal era has come with plenty of fresh business opportunities particularly in such a new frontier as Vietnam where there is high economic potential with a population of almost 100 million and an annual economic growth prospect of around 7%.

Vietnam is Thailand’s 4th largest export market, following the US, China and Japan, and its 10th largest source of import.

Thai-Vietnamese trade has recorded a frog-leap growth of almost 20% per year from 150 million US dollars in 1992 to around 20,000 million US dollars at present.

Besides, the Vietnamese government has vigorously implemented a policy on the promotion of free trade and foreign direct investment, making it a promising investment destination for foreign investors including Thai investors who rank no. 8 among top investors in Vietnam.

Thus, Thai entrepreneurs should actively expand their collaboration with Vietnamese ones whether in international trade or joint investment.        

EXIM Thailand promotes Thai businesses in linkage with Next Normal global markets

Arkhom further said that the Thai government is well positioned to promote cooperation between public and private sectors in international trade and investment as well as fiscal and financial dimensions through EXIM Thailand’s support.

EXIM Thailand seeks to perform its duties proactively toward its role as Thailand Development Bank leveraging its expertise, financial tools and alliance networks to promote Thai entrepreneurs’ access to new opportunities in global markets, transcending obstacles, and dealing with risks and challenges in international trade and investment, along with driving the development of industries of the future in the Bio-Circular-Green (BCG) economy in linkage with sustainable development regionally under the Asean and Apec’s cooperation frameworks.

EXIM Thailand President pointed out that crucial factors to Thai entrepreneurs’ competitiveness in Next Normal global markets are their resilience and adaptability.  

The Bank is fully equipped to perform its duties beyond banking to assist Thai entrepreneurs of all levels from start-ups to existing entrepreneurs in continuing their businesses amid economic, social and environmental uncertainties and challenges.

A complete range of financial tools is made available in conjunction with the knowledge base and alliance networks to facilitate Thai entrepreneurs’ start-up or expansion of international trade and investment with confidence in both existing and new frontier markets. In particular, Vietnam which was formerly Thailand’s “competitor” has today become its “key business counterpart” on which Thailand has increasingly relied.

Vietnam has been Thailand’s 5th largest business counterpart since 2017, moving up from the 15th in 2012, while ranking the 4th largest investment destination of Thai investors at present, moving up from the 10th rank 10 years ago.

Rak clarified that EXIM Thailand has armed Thai entrepreneurs with the capability to comprehensively adapt to changes in and deal with risks of international business operation coupled with risk hedging tools, e.g. foreign exchange forward contract or foreign exchange option, or trade and political risk hedge tools in case of buyer’s bankruptcy, rejection of goods delivered or non-payment, or buyer country’s governmental control on money transfer, ban on import of goods, or eruption of war or riot.

EXIM Thailand will help them pay compensation and make debt collection aiming to relieve Thai entrepreneurs’ concerns about the said risks.

The Bank will also be committed to dedicating its time and resources to product and service development to fill up Vietnam’s production supply chain gaps, particularly in the industries in which Thailand has potential and for which there is high demand, such as automobile, electronics, clean energy and foods of the future.    

EXIM Thailand has strived to support Thai entrepreneurs’ entry into the supply chains of Vietnam’s BCG businesses as Thai entrepreneurs’ capabilities are responsive to the Vietnamese government policy to promote renewable energy investment to cope with the surging demand for electricity in line with the country’s industrial sector development and urbanization.

EXIM Thailand has currently supported investment in Vietnam in the amount of over 17,300 million baht covering several businesses, among which are clean energy power plant business, petrochemicals, wholesaling and retailing.

Besides, to support business sectors’ reduction of greenhouse gas emissions and compliance with environmental standards in pace with green economy trends toward sustainable development, the Bank has rolled out products like EXIM Kill Bill by Biz Transformation, offering a credit line of up to 100 million baht, the lowest interest rate of 2.00% per annum and a maximum loan tenor of 7 years; and Solar Orchestra for businesses of all sizes which aspire to invest in the installation of solar rooftop systems with a maximum credit line of 100% of the project cost, the lowest interest rate of 2.75% per annum and a loan tenor of up to 7 years, together with entitlement to the registration of full-fledged carbon credit and a 3-year tax exemption privilege of 50% of the project cost from the Board of Investment (BOI).    

In view of operational performance, as of the end of August 2022, EXIM Thailand recorded total outstanding loans of 67,458 million baht for international projects, a 4,271 million baht or 6.8% growth year-on-year. Classified by the principal market, the Bank has consistently supported Thai entrepreneurs in spreading their wings to cover the CLMV (Cambodia, Lao PDR, Myanmar and Vietnam) and new frontiers.

In the first 8 months of 2022, total outstanding loans to the CLMV and new frontiers amounted to 53,815 million baht, a year-on-year growth of 7,804 million baht or 17%. Of this total outstanding loan amount, 14,960 million baht was recorded in Vietnam, constituting a 55.4% year-on-year growth.

“There are ample opportunities for Thai entrepreneurs in new frontiers, particularly Vietnam which is in alliance with various countries in political and economic dimensions and is among the top countries having inked free trade agreements (FTAs), covering more than 50 countries around the world.

EXIM Thailand promotes Thai businesses in linkage with Next Normal global markets

Meanwhile, Thailand has a high potential to fill up the gaps in the supply chains of Vietnam and those globally. EXIM Thailand is fully ready to work collaboratively with the public and private sectors in supporting Thai entrepreneurs in their business start-ups or expansion in global markets with confidence. They may start from Vietnam and advance to markets elsewhere in the enhancement of sustainable development of the region and the world at large,” added Rak.    

EXIM BANK Corporate Branding and Communication Department

Bitkub emphasizes the importance of Web3.0 and trending technology at Huawei Connect 2022 event

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Bitkub emphasizes the importance of Web3.0 and trending technology at Huawei Connect 2022 event

Bitkub emphasizes the importance of Web3.0 and trending technology at Huawei Connect 2022 event

FRIDAY, SEPTEMBER 23, 2022

THE NATION

Bangkok, September 23, 2022 – Bitkub Blockchain Technology Co., Ltd., emphasized the importance of Web3.0 and the trending technology at Huawei Connect 2022 event. 

It is an honor for Mr Passakorn Pannok, CEO of Bitkub Blockchain Technology Co., Ltd., to be a part of this event and share some useful information about the evolution of websites and trending technology.

The 7th annual flagship event for Huawei for the global ICT industry was organized in Bangkok and the theme of this year is called “Unleash Digital”. There are over 10,000 ICT industry experts and partners who join the event to demonstrate, explore and build up stronger digital technology and community.

Bitkub emphasizes the importance of Web3.0 and trending technology at Huawei Connect 2022 event

In addition, it is an honor for Bitkub Blockchain Technology to have been invited to join this event, led by CEO, Mr Passakorn Pannok to share some useful information about Web3.0 and blockchain technology in the keynote speech. The detail of the keynote is concluded as follows:

1. The Evolution of Website – Earlier, only a few users could access Web1.0 and it is the beginning of the website era that functions as one-way communication with support from Javascript and Html. After a few years, Web2.0 has become very famous which highlights the user-generated content and interoperability of the end-users; we can communicate with each other in two-way communication. Now, it is the beginning of the Web3.0 era, with the integration of blockchain technology, we can virtually own the content and the digital asset; it enables a trustless society by getting rid of the middleman.

2. GameFi and Metaverse Concept – Mr Passakorn also emphasized the role of GameFi and Metaverse which will generate more real use-cases on Web3.0. The users can truly own the digital asset and interact with each other to create a mini digital economy within the platforms.

3. Social DAO Concept – The concept of a Decentralized Autonomous Organization (DAO) was constructed by using the source code. It is a type of bottom-up organization with no central authority. The smart contract was implemented into the structure and coded to govern the community to get rid of some human errors decision. 

4. Web 3.0 and DApp on Bitkub Chain – At the present, there are several decentralized applications (DApp) on Bitkub Chain which are

4.1 Bitkub NEXT – The decentralized digital wallet on Bitkub Chain which is available for 80 countries worldwide. Currently, there are more than 1 million users already registered in the wallet.

4.2 Bitkub NFT – The primary non-fungible token (NFT) platform that uses blockchain technology for data storage and maintains transaction records and allows users to virtually own the digital assets (NFT).

4.3 Bitkub Social DAO – Allow the users to vote and participate in the activities by using blockchain technology to record the voting polls. This will add more utilities to the NFT as well.

4.4 EarnKUB – The platform on Bitkub Chain, allows the users to claim rewards as KUB Coin or other special NFTs from accomplishing the mission in both the physical and digital world such as attending events or holding NFTs.

4.5 Bitkub Metaverse – The land beyond imagination, opens for you to enjoy a new dimension of experience. It will be a place consisting of many businesses, entertainment, tourism, culture, and education. Bitkub Metaverse will utilize a state-of-art of technology like Web3 and blockchain to provide a futuristic experience.

5. The Efficiency of Bitkub Chain with the support from Huawei Cloud – Huawei Cloud is the first Web3.0 solution on Bitkub Chain. It is a service for building Web3.0 solutions, which 90% of Bitkub Chain’s infrastructure and 70% of official projects use Huawei Cloud Elastic Cloud Server (ECS) and this could reduce costs by 35%.

Follow for more news and updates of Bitkub Chain
Website : https://www.bitkubchain.com/ 
Facebook : https://www.facebook.com/bitkubchainofficial 
Twitter : https://twitter.com/bitkubchain 
Discord : https://discord.gg/WkJ6j279
Telegram : https://t.me/+jiM6dAP5cxUzZTM1

#Blockchain #BitkubChain #BitkubBlockchainTechnology #HuaweiConnect2022
 

THE NATION

GrabMart committed to helping small retailers tap consumers

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GrabMart committed to helping small retailers tap consumers

GrabMart committed to helping small retailers tap consumers

THURSDAY, SEPTEMBER 22, 2022

Nongluck Ajanapanya

Grab, a leading superapp in Southeast Asia, has promised to assist small merchants in reaching consumers in the digital era through GrabMart, an online platform for daily essential products.

Chantsuda Thananitayaudom, the head of marketing, Partnerships and GrabMart, Grab Thailand, told a press conference on Thursday that GrabMart has seen increasing popularity and tremendous growth since its launch in Thailand in April 2020.

The service provides on-demand delivery every day of goods from supermarkets, convenience stores, and local shops.

Chantsuda said the service responds effectively to the diverse needs and lifestyles of modern consumers seeking convenient shopping and on-demand delivery.

Despite constant changes in consumer behaviour since the Covid-19 outbreak two years ago, GrabMart’s business in Thailand grew significantly in 2021, compared to the previous year.

“Today, GrabMart service has expanded to more than 68 provinces, with over 15,000 merchant partners across the country,” said Chantsuda.

At present, there are approximately 9,000 small and medium enterprises (SMEs), or nearly 50 per cent of all merchandise. As a result, Grabmart hopes to attract more SMEs to its platforms.

“We plan to expand our merchant-partner base by targeting small-sized merchants to enable them to grow their customers and increase sales through digital platforms,” said Chantsuda.

GrabMart committed to helping small retailers tap consumers

Grabmart is classified as “Quick Commerce”, which differs from e-commerce. Quick commerce focuses on daily products that customers need to use that day and takes a short time to deliver, approximately 25 minutes, so the products are purchased from nearby grocery stores.

Over the last few years, online shopping has grown at an exponential rate. According to the “e-Conomy SEA Report 2021”, the total value of Southeast Asia’s e-commerce market was as high as US$120 billion, a 62 per cent increase over the previous year.

Although the total market value is less than that of the e-commerce market, quick commerce is regarded as one of the businesses with high potential, particularly in the online grocery category, where online purchases have a current penetration rate of only 2 per cent.

When purchasing on-demand everyday goods, shoppers consider three key factors: a wide selection of products, an affordable price, and quick delivery, according to a Grab study.

With these factors in mind, GrabMart developed a growth strategy centred on “Affordability, Wide Selection, and User Experience”.

Chantsuda said that Grabmart would maintain its affordability through marketing campaigns, expand a wide selection of products and merchant-partners, and provide a better user experience with enhanced convenience and quick delivery of daily essentials.

GrabMart committed to helping small retailers tap consumersChantsuda insisted that Grabmart would provide micro-entrepreneurs more opportunities to reach larger consumer groups, drive sales, and capture business opportunities via Grab’s platforms.

Currently, Grab operates across the deliveries, mobility, and digital financial services sectors in 480 cities in eight countries in Southeast Asia – Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

Nongluck Ajanapanya

‘It is nonsense’ Ukrainians rebuff Russia’s referendums on occupied territories

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'It is nonsense' Ukrainians rebuff Russia's referendums on occupied territories

‘It is nonsense’ Ukrainians rebuff Russia’s referendums on occupied territories

FRIDAY, SEPTEMBER 23, 2022

Ukrainians rebuffed on Friday Russia’s plans to hold referendums on occupied territories of Ukraine. The referendum came just two days after Russia announced the mobilization of 300,000 reservists.

“This referendum will not give Muscovy no upper hand. All of it (referendum) is a nonsense, bluff, and political manipulation to frighten us and the Western countries with their nuclear stuff,” said Oleksandr Yaroshenko, a 65-year-old local resident.

Eugenia Gapchinska, an artist, said that she is not afraid of Putin possibly executing a nuclear strike as an answer for attacking the territories he considers Russian.

“I don’t care what Putin does. We have been ready for a long time either we will die or live in a free country,” She told Reuters.

Russian-installed leaders in occupied areas of four Ukrainian regions set out plans for referendums on joining Russia this week.

Russian officials portrayed the move as one that would give Moscow a claim to territory that it could defend with any means possible.

Ukraine dismissed it as a stunt by Russia to try to reclaim the initiative after crushing losses on the battlefield.

'It is nonsense' Ukrainians rebuff Russia's referendums on occupied territories
'It is nonsense' Ukrainians rebuff Russia's referendums on occupied territories

Water found in samples brought from asteroid Ryugu

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Water found in samples brought from asteroid Ryugu

Water found in samples brought from asteroid Ryugu

FRIDAY, SEPTEMBER 23, 2022

Water has been found in samples from the asteroid Ryugu brought to Earth by Japan’s Hayabusa2 explorer, according to a study published in the US journal Science.

It is the first-ever discovery of water that takes a liquid form at room temperature from any sample collected outside Earth, according to the study by a team of researchers mainly from Tohoku University and the Japan Aerospace Exploration Agency.

The outcome is expected to lead to a better understanding of the origin of the ocean on Earth.

Tohoku University professor Tomoki Nakamura and his teammates analyzed 17 grains of Ryugu sand using systems including the SPring-8 large synchrotron radiation facility in Sayo, Hyogo Prefecture, western Japan.

The team examined the sand grains, 1 to 8 millimetres in size, in detail, looking into their internal structures, mineral composition, hardness and other properties.

As a result, water was found trapped inside tiny holes on iron sulfide crystals inside the sand grains.

It was carbonated water containing carbon dioxide as well as salts and organic matter. The water is believed to have been trapped inside when the crystals formed inside Ryugu’s parent body.

Simulations based on the analysis result have found that the parent body formed on the outer rim of the solar system about 2 million years after the birth of the solar system 4.6 billion years ago.

Water found in samples brought from asteroid Ryugu

The parent body was about 100 kilometres in diameter, and the volume of water on it was equal to that of rock. It moved into an orbit closer to Earth and collided with another astronomical body, creating pieces that later gathered to form Ryugu, whose diameter is about 900 meters.

Water found in samples brought from asteroid Ryugu

In this process, water mostly evaporated into space, so there is very little left in the present-day Ryugu.

“What we found is the same water that existed abundantly on the parent body. Such astronomical bodies supply water to Earth if they collide with it,” Nakamura said.

“The water contains organic matters and salt, so we found evidence directly linked to the origins of the ocean and organic matters on Earth,” Nakamura said.

The Japan News

Asia News Network

Sex crime chat room still near us, this time using deepfakes

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Sex crime chat room still near us, this time using deepfakes

Sex crime chat room still near us, this time using deepfakes

FRIDAY, SEPTEMBER 23, 2022

Digital chat rooms that share or sell deepfake pornography content remain prevalent despite a new provision to punish related crimes implemented two years ago in South Korea.

Deepfake content refers to digitally manipulated videos and images that are hard to distinguish from genuine content. Most pornographic deepfake content grafts a person’s face — usually an acquaintance or celebrity — onto sexually explicit videos.

According to ReSET, a digital sex crime victim support group, one of the Telegram chat rooms they are monitoring had 2,193 users waiting to enter the upper-grade room as of Sept. 16, the group said on Thursday.

Like “Nth Room” case, in which a cartel distributed sexually exploitative content through Telegram, this cartel is also using several chat rooms divided into stages to avoid investigation.

According to a report that South Korean Rep. Her Euna from People Power Party received from the Korean National Police Agency, a total of 264 cases of distributing deepfake content were reported from 2021 to August this year, but suspects were arrested in only 121 of them.

Recently, Park Ji-hyun, former co-chair of the emergency steering committee for the Democratic Party of Korea who contributed to the initial investigation of the “Nth Room” and the “Baksa Room” cases, stressed the seriousness of the deepfake crime by revealing that there is a Telegram chat room targeting her, producing and distributing content with her face and information.

The main reason that hinders investigation is the use of social media operated by overseas corporations and servers, on which the majority of digital crime takes place, an activist at ReSET pointed out. This has fueled calls for Korea to join the Convention on Cybercrime, also known as the Budapest Convention.

The convention, created in 2001 under the lead of the Council of Europe, aims for efficient judicial cooperation among member countries on cybercrimes. Currently, 67 countries are participating. The police decided to review joining the Budapest Convention by the first half of next year.

The Korea Herald

Asia News Network

Brazil’s indigenous women run for Congress to fight Bolsonaro policies

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Brazil's indigenous women run for Congress to fight Bolsonaro policies

Brazil’s indigenous women run for Congress to fight Bolsonaro policies

FRIDAY, SEPTEMBER 23, 2022

A record number of indigenous leaders, most of them women, are running for federal office in Brazil’s election next month, in a backlash against the policies of President Jair Bolsonaro.

As the destruction of the Amazon rainforest, invasions of indigenous lands and violence against their peoples have surged under Bolsonaro, several of these candidates say they are joining the political fray with a sense of urgency.

For Sonia Guajajara the election is crucial. Guajajara is the head of Brazil’s main indigenous umbrella organization, the Articulation of Indigenous Peoples of Brazil (APIB), and is running for Congress. “Today, it is the women who are taking up the fight and leading the struggle of indigenous people in Brazil.”

Brazil’s electoral authorities have registered 60 indigenous candidates for the two houses of Congress this year, including 31 women – the most on record.

Many say their main objective is to unwind the policies of Bolsonaro, who has stopped demarcating indigenous territory and pushed for mining and industrial farming on existing reservations, emboldening violent land grabs and illegal miners.

Bolsonaro says indigenous people should take up the customs and economic activities of their fellow Brazilians and has decried the protection of native reservations as a barrier to progress.

His office and federal indigenous agency FUNAI did not respond to requests for comment.

Brazil's indigenous women run for Congress to fight Bolsonaro policies

By contrast, Bolsonaro’s leftist rival, former President Luiz Inacio Lula da Silva, has vowed fresh funding to curb deforestation and protect indigenous rights, proposing a new ministry attending to Brazil’s 1 million indigenous people.

“We want a ministry with an indigenous minister,” Guajajara told Reuters.

Indigenous leaders are also pushing to block legislation backed by Bolsonaro and the powerful farm caucus to rule out new reservations on land that was not occupied by native people in 1988 when Brazil’s constitution was ratified. Indigenous people say that policy is illegal because their land rights are guaranteed by the constitution even if they had been evicted.

“My worst fear is that Bolsonaro will be reelected and my greatest hope is Lula will occupy power,” said Tereza Arapium, running for a seat in the Rio de Janeiro state legislature.

Deforestation of Brazil’s Amazon has risen to a 15-year high under Bolsonaro, threatening the habitat of many of Brazil’s roughly 300 tribes, considered by environmentalists to be essential in protecting the rainforest.

“Our relationship with the land, has saved the environment, the savannah, the Amazon, the Atlantic Forest, the Pampas and the Caatinga region,” said Celia Xakriaba, who is running for Congress from the state of Minas Gerais.

Another priority cited by indigenous candidates is reforming institutions meant to protect their peoples and territories, along with the biodiversity of the rainforest.

Brazil's indigenous women run for Congress to fight Bolsonaro policies

They say FUNAI will have to be restored after Bolsonaro gutted the agency by reducing staff and replacing anthropologists with police and former military officers.

Brazil’s first indigenous congressman, the Xavante tribesman Mario Juruna, was elected in 1982. He carried a tape recorder because he said he did not trust the word of non-indigenous Brazilians. Four decades passed before the election of another indigenous representative in Congress – a woman, Joenia Wapichana, from the state of Roraima.

In recent years, women have been increasingly common in tribal leadership roles, with more female chieftains taking up the fight to defend their rights.

” I strongly believe in this power, in the strength of these women, in the ability of these women today to be in Congress making this journey and raising these voices in favour of this collective,” said Vanda Witoto, running for Congress from Manaus, the largest city in the Amazon.

They face a steep challenge in a lower house where farm interests and a large evangelical caucus hold sway, frequently attacking indigenous rights, she said.

Witoto said they have a gigantic task ahead to try to stop bills that ‘open up their territories to mining and agribusiness.

Reuters

Boeing to pay $200 million to settle civil charges it misled investors about 737 MAX

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Boeing to pay $200 million to settle civil charges it misled investors about 737 MAX

Boeing to pay $200 million to settle civil charges it misled investors about 737 MAX

FRIDAY, SEPTEMBER 23, 2022

Boeing Co will pay $200 million to settle civil charges from the US Securities and Exchange Commission that it misled investors about its 737 MAX, which was grounded for 20 months after two fatal crashes killed 346 people, the agency said Thursday.

The SEC also said former Boeing Chief Executive Dennis Muilenburg had agreed to pay $1 million.

“In times of crisis and tragedy, it is especially important that public companies and executives provide full, fair, and truthful disclosures to the markets,” SEC Chair Gary Gensler said in a statement. He added that Boeing and Muilenburg “failed in this most basic obligation.”

The SEC said Boeing and Muilenburg did not admit or deny the SEC’s findings. The regulatory agency said a fund will be established for the benefit of harmed investors.

The SEC charged Boeing and Muilenburg “with making materially misleading public statements following crashes of Boeing airplanes in 2018 and 2019.”

Boeing confirmed the settlement and noted it did not admit or deny wrongdoing. It said it had made “fundamental changes that have strengthened our safety processes” and said the “settlement is part of the company’s broader effort to responsibly resolve outstanding legal matters related to the 737 MAX accidents.”

The crashes were linked to a flight control system called the Maneuvering Characteristics Augmentation System (MCAS). The SEC said “after the first crash, Boeing and Muilenburg knew that MCAS posed an ongoing airplane safety issue, but nevertheless assured the public that the 737 MAX airplane was ‘as safe as any that has ever flown the skies.'”

After the second crash, the SEC said, “Boeing and Muilenburg assured the public that there were no slips or gaps in the certification process with respect to MCAS, despite being aware of contrary information.”

In January 2021, Boeing agreed to pay $2.5 billion in fines and compensation to resolve a U.S. Justice Department criminal investigation into the 737 MAX crashes.

The Justice Department settlement, which allowed Boeing to avoid prosecution, included a fine of $243.6 million, compensation to airlines of $1.77 billion and a $500 million crash-victim fund over fraud conspiracy charges related to the plane’s flawed design.

In December 2019, Boeing fired Muilenburg after the company clashed with regulators over the timing of the 737 MAX’s return to service.

“Boeing and Muilenburg put profits over people by misleading investors about the safety of the 737 MAX all in an effort to rehabilitate Boeing’s image following two tragic accidents that resulted in the loss of 346 lives and incalculable grief to so many families,” said Gurbir Grewal, director of the SEC’s Enforcement Division.

Australia’s Optus says up to 10 million customers caught in cyber attack

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Australia's Optus says up to 10 million customers caught in cyber attack

Australia’s Optus says up to 10 million customers caught in cyber attack

FRIDAY, SEPTEMBER 23, 2022

Australia’s second largest telco, Optus, owned by Singapore Telecommunications Ltd, said on Friday that it will contact as many as 9.8 million customers whose personal details were taken in one of the country’s biggest cybersecurity breaches.

Optus chief executive Kelly Bayer Rosmarin said she was angry and sorry that an offshore-based entity had broken into the company’s database of customer information, accessing home addresses, driver’s licence and passport numbers. Up to 40% of Australia’s population may have been affected by the breach, but “that is the absolute worst-case scenario (and) we have reason to believe that the number is actually smaller than that”, Bayer Rosmarin said.

As a major telco, Optus considered itself a target for cyber attackers and routinely repelled attempts to breach its systems but “this particular one is not similar to anything we’ve seen before, and unfortunately it was successful,” she said.

Police and cybersecurity authorities were still investigating the attack which Optus told customers about on Thursday.

Reuters

Japan to remove entry restrictions from Oct 11

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Japan to remove entry restrictions from Oct 11

Japan to remove entry restrictions from Oct 11

FRIDAY, SEPTEMBER 23, 2022

THE NATION

Japan will lift all Covid-19 border controls from October 11 in a bid to revive its tourism industry. All tourism routes will be reopened and visa waivers will also be reinstated, Prime Minister Fumio Kishida said on Thursday.

The PM made the announcement in a speech at the UN General Assembly in New York.

“I hope many people will utilise it,” Kishida told the press later. “I want to support travel, entertainment and other industries that have been struggling due to the coronavirus pandemic.”

Thailand is among 70 countries that Japan had visa waiver agreements with before the pandemic, and it will be reinstated after October 11. Thai passport holders will be part of the blue group, which means they will not be required to provide vaccine passport, RT-PCR test results or be required to isolate.

The cap on daily arrivals will also be lifted, Kishida said.

Japan has been slowly raising the daily arrival cap over the past six months, starting with 5,000 on March 1 to 50,000 now.

Japan to remove entry restrictions from Oct 11

Meanwhile, Reuters quoted Kishida as saying that excessive fluctuations in the Japanese currency due to speculation cannot be ignored. In his speech at the New York Stock Exchange on Thursday, Kishida said his government would act “with a high level of vigilance” and intervene to support the currency if necessary. The yen has hit a 24-year low recently.

“In principle, the exchange rate is determined by the market, but I don’t think we can overlook the repetition of excessive fluctuations due to such speculation,” he said. “Based on this idea, today we implemented a foreign exchange intervention in Japan. The government will continue to monitor exchange rate trends with a high sense of urgency and take the necessary measures against excessive fluctuations.

“We will continue to observe these exchange trends with a high level of interest and a sense of urgency,” said Kishida.

Japan to remove entry restrictions from Oct 11

Singthong Lapseedphan, ambassador of Thailand to Japan, said on Thursday that he believes the Covid-19 situation will improve gradually and travel between Thailand and Japan will soon be restored to before the pandemic.

“After 2019, up to 1.3 million Thai tourists have visited Japan, while up to 1.8 million Japanese have arrived in Thailand,” he said. “Japanese tourists are among the top spenders who help contribute to the recovery of our tourism industry.”

THE NATION