Commentary: When it comes to bank outages, convenience favours the prepared
If history is any indication, the response to the most recent disruption will follow a three-track pattern: Customers will gripe about the inconvenience and question whether Singapore could go digital, banks may be forced to review their administrative procedures and system resilience, and the authorities may slap the violators with additional requirements and demand that they perform better.
Everything you’ve said is entirely reasonable and comprehensible.
Without a doubt, the banks — all of them, not just the two parties — will benefit from this. They should double down on duplication systems, increase their situation planning, and develop in better public relations and client recovery.
It is impossible to predict when another interruption may occur. No technological method is perfect, upon both.
A BETTER Digital Culture IS MISSING A LINK?
This will be viewed as a significant learning opportunity from sage social strategy to being digital. However, I wonder if society, including you and I, sees ourselves as a part of the entire digitalization process rather than just consumers. This would be the missing piece of information that would make the digital system function better. & nbsp,
Singapore has made great strides toward becoming a digital society. The nationwide campaign to reduce cash transactions began in 1985, even though the popularity of digital banking and digital transactions has only definitely increased recently.
In a statement delivered on March 14, 1985, Lee Yock Suan, the acting secretary for Labour, stated that the widespread adoption of electronic fund transfer systems and the popularity of digital transactions may show in’ a new period of comfort and convenience’ in banking and cash management services. ” We can anticipate the day when we can shop, pay our bills, check our bank accounts, and transfer money between accounts all from the comfort of our homes ,” said & nbsp.
Fears rising that Thailandâs 10,000-baht cash handouts will benefit big business, hurt financial stability instead
BANGKOK: Since leaving his home in the heart of Ratchaburi territory about 16 times ago, Mr. Pradit Boonkate, 67, has been employed as a security guard in Bangkok, Thailand. He now receives six weeks of annual left and a monthly salary of 15,900 rmb( US$ 437 ). & nbsp,
His meagre pay explains why he was happyinitiallyto hear that he would be among some 56 million Thais to receive a digital cash handout worth 10,000-baht from the new government next February under an economic incentive devised by the ruling Pheu Thai Party as part of its political campaign.
The plan, which involves the funds being distributed online, may initially seem like a good idea to low-income earners like Mr. Pradit. & nbsp,
But when considering how the cash must be spent – in six months, on food, medicines and occupational tools at local businesses locatedwithin a 4km radius of their registered address – those who live and work far away from home could find it hard to enjoy the free money.
“For people who live in the countryside, there is a huge distance between the town and their homes. Their villages often have small grocery stores selling things like canned fish and eggswhich won’t accept the digital money,” Mr Pradit,whose registered address remains in his Ratchaburi hometown, told CNA.
Some people believe that the US$ 15 billion scheme will ultimately benefit the wealthy and their large businesses, which already have the capacity to deliver goods and the technology to provide transactions, even though the government intends to change the conditions for rural areas to ensure that digital cash may penetrate and advantage all parts of the country.
” How are there so many things that little shops is provide?” said Mr. Pradit. ” It’s nice to get the money, but who will benefit from it, the prosperous?”
THE Citizens PAY, THE State GIVES?
The digital wallet programme is designed for Thai nationals,with only one qualifying condition: as long as they are aged 16 and above.
Its main goal is to boost the economy through income transmission in communities across the country while increasing the paying power of low-income earners.
But a group of reportedly 99academics, economists and former governors of the Bank of Thailand have recently issued a joint statement against its implementation.
They urged the government to end the program, claiming that doing so would increase short-term usage and ultimately harm Thailand’s financial security.
According to the statement,” Eventually, it will be the people who will have to pay it back, whether it be through higher taxes and / or higher prices of goods brought on by inflation as a result of economic injection.”
Dr. Sethaput Suthiwartnarueput, the governor of the Bank of Thailand, even suggested last month that the policy only apply to a select group of people because not everyone requires for financial assistance and the market is recovering.
5 hot-button issues set to figure strongly in Indonesiaâs presidential, legislative elections
THE ECOMETRY
With 270 million residents, this developing nation’s economy will still be vital in the upcoming elections. & nbsp,
According to Mr. Kevin O’Rourke, an analyst with the Jakarta-based political risk consulting firm Reformasi Information Services,” the top three concerns of the voters will remain the same, which are( eradicating ) poverty, & nbsp, job opportunity, and inflation.”
The COVID – 19 pandemic severely affected Indonesia in 2020, causing its economy to contract by 2.07 % that year. & nbsp,
However, it increased by 3.69 percent in 2021, which was a rebound. Yet last year, it saw a growth of 5.31 percent, the highest in about ten years.
However, despite having 270 million individuals, Indonesia also has approximately 26 million poor people as of March of this year. This is comparable to a poverty rate of about 9 %. & nbsp,
The largest economy in Southeast Asia has recently seen an increase in the price of grain as a result of crop loss brought on by the latest protracted dry climate. & nbsp,
Jokowi, as Mr. Widoho is more commonly known, has been monitoring Indonesian markets to make sure there is enough grain available to keep prices low.
A rise in grain prices will lead to an increase in prices. The inflation rate was 5.51 percent the previous month. It was only 1.87 percent in 2021. & nbsp,
Inflation is anticipated to be around 3 % this year, but it could be higher if the rice price situation does not improve. & nbsp,
The price of corn and other cost of living will undoubtedly be people’s top concern when they go to the polls the following year. Rice is a well-liked staple food. In addition, & nbsp,
About 204.8 million Indonesians may be eligible to vote, making the upcoming elections the largest single-day election in the world, according to the election committee. & nbsp,
Fresh voters make up more than half of the available electorate. & nbsp,
Therefore, it’s possible that prospects will talk about addressing unemployment during their campaigns. & nbsp,
According to Mr. Aditya Perdana, a political scientist from the University of Indonesia, younger voters may undoubtedly inquire about their chances of finding employment or even finding work as freelancers. & nbsp,
Indonesia’s poverty rate last year was around 5.86 percent, and it is anticipated that it will be between 5 and 5.7 percent this year. Related numbers were foreseen by Jokowi for the following month. & nbsp,
Russia says it is coordinating Middle East policy with China
On Thursday, October 19, Russia announced that it was working with China, a growing alliance that President Vladimir Putin visited this year, to coordinate its plan in the Middle East and North Africa. According to Russia, Zhai Jun, China’s specific minister for the Middle East, and Deputy Foreign Minister MikhailContinue Reading
Thai Muslims plan embassy protest
Muslims in southern Thailand announced yesterday that they would congregate tomorrow in front of the Jewish embassy in Bangkok to discuss the Israel-Hamas conflict.
However, the party insisted that the getting, which will also include submitting a petition to the consulate, is only intended to” encourage peace” between Israelis and Palestinians, and that neither side should allow the conflict to worsen or move on.
Baitat Samansathitkhun, a Phatthalung local, revealed the strategy and added that other Muslims from the South and Bangkok would also attend the meeting.
According to him, people from the South will go from regions like Satun, Songkhla, Nakhon Si Thammarat, Phatthalung, Trang, Phuket, Krabi, and Phangnga in cars and exclusive vehicles.
According to Donmit Waeowanchit, another southwestern Muslim, in addition to submitting the complaint to the Jewish embassy, the protesters will also voice their opinions through speeches on the violence seen in news coverage.
Social protesters Jatuporn Prompan and Nititor N Lamlua will also be present at the meeting.
According to a supply, as the Israel-Hamas conflict continues and intensifies, numerous individuals and organizations are showing support for Palestinians. According to the source, military Islamist groups in nations like Lebanon, Yemen, and Iraq are prepared to join the conflict.
Wisut Binlate, a part of Thailand’s Central Islamic Council, said he was aware that Thai security personnel may be uncomfortable with the anticipated meeting.
But, he added, the government must realize that these Muslims are merely retaliating against the cruelty they have seen on the news to citizens, kids, women, and elderly people in the Gaza Strip.
Thai Muslims felt the need to express their opinions and call for better protection for honest folks, including Thai citizens being held captive by Hamas, as a result of the explosion at the al-Ahli Arab Hospital in Gaza City, which left many hundred persons useless, for one, he said.
Thailand ought to be regarded as a nation that upholds morality and respects human freedom. And it shouldn’t ever have a tendency to support any battle offenders, he added.
PM urged to push health hub
20 October 2023 at 4:00 p.m.
According to Thai business consultant Nalinee Thavisin, officials in the public health sector are urging the government to promote Thailand’s potential as a skilled gateway while the premier is in Saudi Arabia.
Ms. Nalinee spoke with Panacee Group members yesterday about expanding the health sector to the Middle East.
It falls on the last day of Prime Minister Srettha Thavisin’s journey to Saudi Arabia. Yesterday, he boarded a trip from Beijing to Riyadh.
In order to treat patients with cancer, crucial state diabetes, kidney failure, and heart disease brought on by diabetes in Thailand, according to Ms. Nalinee, the public health business wants the government to establish a relationship with the Saudi Arabian Public Health Ministry.
She continued by saying that the majority of people from the Middle East, particularly Saudis, had received treatment in Thailand and were happy with the outcomes.
According to her, Panacee Medical Center wants to modernize conventional treatments so that it can be used everywhere.
According to her, it offered patients conventional treatments like cannabis and Thai nearby herbs in addition to iv therapy, cell therapy and Royal Court Pharmacopoeia.
According to Panacee, the government’s wellness tourism policy was well received by the company, which aimed to make the nation a skilled hub and destination not only for Asean but also for other nations around the world.
The objective, according to Ms. Nalinee, is based on the nation’s status for healthcare tourism.
Ministry issues PM2.5 warning
20 October 2023 at 4:00 p.m.
The Public Health Ministry advises people to check the weather excellent before leaving their homes or engaging in outdoor activities, especially those with chronic conditions.
This is due to recent mild or harmful levels of ultra-fine dust, or PM2.5, in some areas of Bangkok and several other regions.
PM2.5 debris ranges typically increase between the end and early part of the time, according to Dr. Opas Karnkawinpong, lasting director for public health, who stated this yesterday.
PM2.5 levels are currently at the moderate( yellow ) or unhealthy( orange ) level in some provinces, particularly in the Northeast, such as Nakhon Phanom, Mukdahan, Yasothon, Nong Khai, and Ubon Ratchathani.
In Bangkok, PM2.5 levels have been found to be bad in a number of places, including the Charoen Nakhon Road in the Khlong San region, the Thung Wat Don district in Sathon, and the Kanchanaphisek road in Bang Khun Thian area.
According to Dr. Opas, people should check their PM2.5 levels using the Air4Thai application or go to the Department of Pollution Control’s website at http :// air4thae.pcd.go.th before leaving their homes or engaging in outdoor activities.
To determine the air quality levels, they can also go to the website https :// pm25gistda.or.th, where the blue color code indicates very good air.
Green indicates a low risk to health. People with respiratory system disorders should abstain from outdoor workout, while children and the elderly may restrict their time outside because golden indicates bad. Red means dangerous air quality, and orange means extremely bad.
iPhone con probe widens
20 October 2023 at 4:00 p.m.
According to the cybercrime investigators, at least four more people — three of them in Bangkok — have been conned by the fake phone vendor gang that is being blamed for the suicide of a 19-year-old student earlier this week.
A Mathayom 6( Grade 12 ) student who committed suicide by hanging was detained by the Cyber Crime Investigation Division 5 ( CCID5 ) yesterday, and Dokkaew Kewjerm, 22, was questioned by them on suspicion of being a member of the scam gang.
The scholar wired the gang’s store 20,500 baht to purchase an iPhone, but the phone was not delivered.
She hanged herself on Monday at her house in Nakhon Si Thammarat out of fear that her mother might censure her for being cheated. The payments were discovered by the authorities to be made to Ms. Dokkaew’s lender account.
The CCID5 captain, Pol Maj Gen Charin Kopatta, stated yesterday that Ms. Dokkaew, who was apprehended in Chaiyaphum, claimed she was paid 300 ringgit to start the horse account, but the authorities do not feel her. She also has at least two additional bank accounts, according to inspections.
According to the captain, Ms. Dokkaew’s income trail showed that four additional individuals had deposited funds in her account. The fifth resides in Nakhon Si Thammarat, while the other three reside in the Bangkok neighborhoods of Huai Khwang, Kua Mak, and Bukkalo.
Scams and a usurpation of computer crime rules have been brought against Ms. Dokkaew. Additionally, permits have been issued for the detention of three additional suspects.
New scam targets workers in Israel
20 October 2023 at 7:34 PUBLISHED
By deceiving people into downloading a fake wealth transfer apps on their phones so that the financial information of foreign workers can get stolen, the Department of Employment has alerted the government to an ongoing rip-off that is taking advantage of the conflict between Israel and Palestinians.
On Thursday and NBP, Sompong Kaewwandee, the chairman of the Chiang Rai Provincial Employment Office, issued a warning to avoid clicking any suspicious links.
He claimed that the company was made aware of the danger by the nearby people. He claimed that swindlers have been sending Thai staff in Israel’s families suspicious links via Line and SMS information.
They are posing as Israeli bank accounts service providers and instructing their victims to get the Monox application and click the link to view Thai workers’ financial statements. He claimed that Google Play is the only place to download the actual Monox game. The con artists assert that the data must be examined using the website they sent.
He advised those who had downloaded the false app to replace the SIM cards or disable the phone’s internet connection. Therefore, in order to clear the financial information, they may perform a manufacturer reset.
Additionally, he advised people to contact the local police or the site” thaipoliceonline.com” for a document. The Royal Thai Police can also be contacted by those with any additional information using its” 1441″ line.
While this is going on, Boonyavee Kwaipan, acting director-general of the Employment Department, announced that it is getting ready to pay Thai returnees from Israel who are Aid Fund for Overseas Workers 15, 000 ringgit in compensation.
Thai returnees must receive compensation from provincial work offices within three weeks.
The ministry has written to Israel’s Population and Immigration Authority requesting that they permit Thai workers to continue employment there once the situation has improved.
For Thai returnees who want to remain working abroad, it has also compiled a list of potential locations, including Taiwan, Portugal, Greece, and South Korea.
Govt eyes stronger energy ties with Russia
20 October 2023 at 4:00 p.m.
Pirapan Salirathavibhaga, the deputy secretary and energy secretary, urged Russia to provide Thailand with access to affordable power yesterday.
After presiding over the Third Asian and Pacific Energy Forum( APEF3 ) in Bangkok, Mr. Pirapan made the call while speaking with Sergey Mochalnikov, the deputy energy minister of Russia, and Evgeny Tomikhin, a Russian ambassador to Thailand.
According to Mr. Pirapan, the conversation aimed to strengthen diplomatic energy source ties for the benefit of the two nations.
He stated that Mr. Mochalnikov was prepared to provide Thailand’s power market with coal, gasoline, and other forms of energy. Additionally, Russia may assist academic research, information exchanges, investments in all types of energy generation, and joint ventures between the two nations’ private sectors.
According to Mr. Pirapan, Russia has even suggested that Thailand send a representative to Russia to observe the country’s energy sector, and Russia is prepared to help Thai business owners operate energy-related businesses there.
Mr. Pirapan was even invited to travel to the nation so that further debate could take place.
Following that, Mr. Pirapan met with Nasrul Hamid, the lieutenant strength, power, and material resources minister of Bangladesh, to discuss issues pertaining to the energy sector.
As part of Asia-Pacific Energy Week, APEF3 started monday and ends immediately at the UN Conference Center in Bangkok.
The Ministry of Energy, the United Nations Economic and Social Commission for Asia and the Pacific( Escap ), and other organizations are co-hosting the event.
The Ministerial Declaration on Regional Cooperation for Energy Transition towards Sustainable and Resilient Societies in Asia and the Pacific has been implemented, and APEF3 members have had the opportunity to review the progress made in achieving Sustainable Development Goal 7. This target focuses on cheap and clean electricity in the Asia-Pacific area.
At the Second Asian and Pacific Energy Forum in 2018, this was approved.