Digital Lives Decoded report highlights 66% Malaysians believe govt is responsible for online safety

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  • 56.8 %   think service providers should also accept responsibility for online safety.
  • Private dilemma: despite user privacy concerns, convenience is still a top priority.

Håkon Bruaset Kjøl, SVP head of investment management and deputy CEO of Telenor Asia, and Kulani Kulasingam, privacy and compliance director of Telenor Asia.

This study provides a useful snapshot of Malaysians ‘ existing digital behaviors and attitudes, which can serve as a resource for policymakers, organizations, and individuals on emerging growth opportunities and strategies to create a smarter and safer electronic future. Hkon Bruaset Kjl, SVP mind of investment management and assistant Director of Telenor Asia, said.

Hkon was speaking in KL yesterday when Telenor Asia released its report, which examines how wireless connectivity is creating safer and smarter lives in Malaysia, as well as a thorough analysis of how relational AI is used and used. It has released the record for the next time since its first release in October 2022.

The statement is based on a study that Telenor Asia’s research firm, GWI, was asked to carry out in August 2024. GWI has a collection of over 22 million online users worldwide, and selected 17, 117 Indonesian computer users for its monthly studies with questions remaining the same from Q3 and Q4 2023, and Q1 and Q2 2024. This sample size was designated as the” GWI core.” &nbsp,

Relying on GWI’s recontact methodology, 1, 004 Malaysian respondents ( aged 16-64 ) were interviewed from June 24 to July 13 2024. Respondents who have completed the core survey within the previous year can be contacted again using GWI’s recontact method to request more surveys.
 

AI in Indonesian culture

Digital Lives Decoded report highlights 66% Malaysians believe govt is responsible for online safety

Three out of four people who responded have used AI in their everyday lives already have one, which is encouraging in terms of its impact on society.

“Education is one of the areas we are most enthusiastic about, because the use of AI in schooling suggests a pretty strong potential for it to perform a crucial role in making education more accessible and adaptable to individual learning wants,” Hön said.

More than 1 in 2 Malaysians ( 55 % ) are excited about the possibilities and efficiency that AI can bring to their daily lives, with a significant focus on its ability to solve problems, the way research is conducted, and created.

But, people’s faith in AI-generated information is divided, especially with economic and health guidance, inviting incredulity. &nbsp,

Growing amounts of user data will be collected as Malaysia moves toward a future in which AI-integrated products will automate tasks and provide highly personalized activities. So, Malaysian respondents highlight concerns about possible misuse of private data and the spread of misinformation and emphasize responsible use and building trust. &nbsp,

According to the investigation, people need to have faith in the online world to maximize the advantages of digital technologies. When it comes to establishing this respect and providing people with knowledge and tools to better defend themselves website, organizations and individuals have a shared accountability.

Who’s accountable for online security- the consumer or the government?

Digital Lives Decoded report highlights 66% Malaysians believe govt is responsible for online safety

Nearly two-thirds ( 66 % ) of Malaysian respondents agree that the government is ultimately in charge of ensuring online safety, which is in line with public demands for more stringent regulatory oversight. This is demonstrated by the clear message that responsibility does not lie with users. &nbsp, &nbsp,

Service providers, such as businesses and telecoms companies, are also seen as essential people, particularly for the older years. &nbsp,

Telenor has also taken initiative by contributing and adopting the telco-centric roadmap framework called the Global System for Mobile Communications Association ( GSMA ) responsible AI maturity roadmap. Its affiliated businesses, such as Axiata Bhd, have even adopted it.

Telenor has also signed the EU AI Act, making the voluntary commitment to begin formulating requirements prior to the date.

Kulani Kulasingam, privacy and compliance director of Telenor Asia said,” We collaborate to share knowledge and lead implementation, establishing ourselves as a thought leader in this space, our goal is to build global norms well before the act comes into effect” ,&nbsp,

This implies that we have developed a set of rules for ourselves that serve as guardrails for the way we want to develop AI use situations, and that you must first establish them in advance or it will be too soon when you begin to deploy, according to Hkon.

Women’s opinions on who is accountable for paving the way to a safer practice are still divided. More than half ( 56.8 % ) of people think service providers should also bear responsibility for online safety, while only half ( 47.1 % ) think that self-responsibility is a top priority. &nbsp,

Håkon said,” It is clear that a collaborative approach to online safety is needed, by prioritising education, awareness, and holding high standards around responsible technology, together we can create a more secure digital landscape that empowers all Malaysians to thrive confidently in the digital age” .&nbsp,

The private paradox

Digital Lives Decoded report highlights 66% Malaysians believe govt is responsible for online safety

A large majority of Malaysians are actively improving the security on their mobile devices or have plans to do so in the future, with 97 % using at least one protection feature, such as using private browsing style, an ad-blocker, or VPN.

Almost 4 in 10 Malaysians are still concerned about how companies use their personalized data online despite the widespread use of private tools. Online security has remained the exact level of concern for the past five years, according to &nbsp, &nbsp,

People still want pleasure in living in an AI-connected world because they are aware of how AI can make a smarter and safer world. &nbsp,

As much as those who are concerned about their data privacy when considering AI plugins are also more likely to think that AI may improve the efficiency of their mobile devices and get excited about the potential benefits it may offer.

1 in 2 Malay anticipate that AI clever devices will provide better stability and better data privacy settings, while 55 % believe that AI can improve mobile efficiency. &nbsp,

This highlights a privacy paradox: people care about their privacy but are n’t willing to give up the comforts of allowing technology to track them. &nbsp, &nbsp, &nbsp,

Despite this, there are serious concerns about digital threats, with financial fraud being the most pressing issue, followed by identification theft, data breaches, and heavy fakes. 3 in 4 also worry about the safety of their virtual accounts, and 2 in 3 also believe they lack control over their personal information. &nbsp,

Phishing is also a shared concern, especially among Generation Z ( aged 16-27 ).

Malaysians actively work to enhance virtual security

Hkon is optimistic that the advantages of wireless connectivity outweigh the drawbacks, pointing out ways that AI can benefit culture in the future.

The benefits clearly outweigh the risks, according to the review, which Malaysians claim are usually aware of.

Indonesian interviewees value being able to stay in touch with loved ones, having easy access to information, having fun in their own lives, and experiencing increased productivity and efficiency in their day-to-day lives. Additionally, they feel more secure using a cellular phone. &nbsp,

The top benefit, followed by features like GPS and navigation apps that aid in avoiding dangerous areas and sharing their location with family and friends, is the ability to quickly call for assistance in emergencies, according to 70 %. &nbsp,

Women appear to prioritize online safety and security as important as the convenience of the cellular phone, placing a premium on safe mobile payments and security features that safeguard personal information, while people appear to prioritize sharing their physical locations. &nbsp,

Digital Lives Decoded report highlights 66% Malaysians believe govt is responsible for online safety

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Spiraling US debt a golden opportunity for China – Asia Times

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China is steadily establishing itself as a significant participant in the recently-named Global South, which was formerly known as the Non-Aligned Motion. Over the last few years, China has become the country’s biggest bank of developing countries. Many people are concerned about using the debt trap to subdue partners and create a “hegemonic sphere of influence” as a result.

China’s financial standing is such that it is now viewed as the biggest risk to the US dollar. It is an important part of the BRICS party ( which also includes Brazil, Russia, India and South Africa ). This team is attempting to create a unipolar world that challenges the West’s identity, particularly the United States ‘ management.

Without using the name” threat”, the US leadership now sees China as the “most major long-term concern” to the global order. Given that China’s corporate goal is to stop the dominance of the US dollar, the foundation of US hegemony, it is simple to understand why.

I am studying the role China is playing in the de-dollarization of the world as a scientist in global political economy at the Université Laval.

Money stronghold

The power of the US dollar supports American identity in the current international order, as French scholar Denis Durand explains in his content” Guerre monétaire militaire: l’hégémonie du money contestée”? ( International forex war: the economy’s identity challenged? ).

American currency is used in many Third World and Eastern European nations, where it enjoys a much higher level of public trust than local currencies, in addition to the point that some currencies are linked to the money by a fixed connection or group of variation. The only nation in the world that is levy foreign bill in its own currency is the United States.

The US dollar’s overrepresentation in the country’s central bankers ‘ foreign exchange reserves reflects its hegemony over the world market. Even though this has weakened, the dollar continues to outperform another assets.

The promote of the US dollar in the standard property of the country’s central banks is still roughly steady at around 58-59 % despite a 12 percent point decline between 1999 and 2021.

The US dollar continues to inspire a lot of confidence around the world, strengthening its position as the world’s dominant reserve currency. On the US investment industry, the country’s central bankers ‘ US dollars resources are invested in US Treasury bills, which lower the cost of financing both government loan and personal expenditure in the country.

However, the US economy may lose money if the identity of the dollar did. When Durand asserts that” the economic hegemony of the United States is held up only by the assurance of financial agents around the world in the American money,” he makes this point.

There are two possible causes of a decline in the nation’s confidence in the US dollars.

First of all, as US Treasury Secretary Janet Yellen stated in an interview in April 2023, the US is firmly using its dollars as a tool to manipulate both its own enemies and some rebellious allies. This was eventually destroy the dollar’s hegemony.

On the other hand, the US loan situation, especially its unsustainability, is a source of concern that could change the economy’s attractiveness as a global reserve currency.

Unsustainable bill

Since 1944, and even more so since the Bretton Woods Agreement‘s enactment in 1959, the US dollars has been at the center of the global financial system.

The Bretton Woods system was based on both the metal and the franc, which was the only money that could be converted into gold. This conversionibility was set at a rate of US$ 35 per gram.

That changed on August 15, 1971, when Richard Nixon announced the close of the economy’s conversionibility into gold as a result of inflation and the growing disparities in the United States ‘ global economic ties.

The ability of the United States to accept debt to meet people expenditures was constrained by the dollar’s gold price. The United States could only lend in accordance with the volume of dollars in liquidity and its gold reserves under the gold-based system, where silver was the surety of the US dollar.

The US had free rein over its debt after abandoning the gold-based system. In 2023, the US public debt reached more than$ 33.4 trillion, nine times the country’s debt in 1990.

This astronomical figure continues to raise concerns about its long-term sustainability. As US Federal Reserve Chairman Jerome Powell has pointed out US debt is growing faster than the economy, &nbsp, making it unsustainable&nbsp, in the long term.

Opportunity for China

China is obviously aware of this reality because it recently sold off all of its US debt. Between 2016 and 2023, China sold$ 600 billion worth of US bonds.

However, in August 2017 China was the United States ‘ largest creditor, ahead of Japan. It held more than$ 1.146 billion in US Treasuries, almost 20 % of the amount held by all foreign governments. Beijing is now the second-largest foreign holder of US debt, with a claim of around$ 816 billion.

It is undoubtedly no coincidence that Beijing first instituted its own gold pricing system in the yuan before delving into US bonds. In fact, on April 19, 2016, the Shanghai Gold Exchange, China’s operator for precious metals, unveiled on its website its first “fixed” daily benchmark for gold at 256.92 yuan per gram.

China’s plan to make gold a tangible guarantee of its currency includes this policy.

Gold for dollars

China is also selling its US bonds. According to the US Treasury, between March 2023 and March 2024, China sold off$ 100 billion in US Treasuries, on top of the$ 300 billion it had already sold off over the past decade.

The Middle Kingdom is now the top producer and consumer of gold, which has replaced roughly a quarter of the US Treasuries sold in ten years. Other central banks in emerging markets continue to buy gold, just like China’s central bank.

China’s appetite for gold was confirmed in 2010, when its gold reserves rose to 1, 054 tonnes, from around 600 tonnes in 2005. Ten years later, in 2020, its stock of gold had almost doubled again to nearly 2, 000 tonnes. By the end of 2023, with a gold reserve of 2, 235 tonnes, China will be the country with the sixth-largest gold reserve.

Gold allows China to store the profits from its enormous trade surpluses in its place of the dollar. Beijing is attempting to increase its currency’s use abroad with the help of the Shanghai Gold Exchange, which provides contracts for gold trading contracts in yuan. This will help establish the yuan as the world economy’s benchmark currency.

Zakaria Sorgho is senior fellow at FERDI &amp, ACET-Africa and research associate at CREATE, Université Laval

This article was republished from The Conversation under a Creative Commons license. Read the original article.

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Senoko Energy and Gentari Collaborate on Hydrogen Importation in Singapore

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  • By 2029, a 20-year provide deal will be in place.
  • Aims to reduce carbon emissions by estimate 18, 000 tonnes of CO2 relative

Left to Right: Calvin Quek, Senoko Energy’s head of Trading & Portfolio Management, Frederik Baerts, Senoko Energy’s president & CEO, Michèle Azalbert, chief hydrogen officer, Gentari, and Alex Bower, head, Global Marketing & Sales, Gentari

Senoko Energy, one of Singapore’s largest energy companies, announced a partnership with Gentari, a clean energy solutions provider, through a Memorandum of Understanding ( MoU). This partnership aims to determine the viability of moving gas fuel from Malaysia to Singapore.

The initiative intends to incorporate the imported gas into Senoko Energy’s current and future mixed cycle gas turbine assets, improving both efficiency and economic performance. Under a proposed 20-year offer agreement, the gas is expected to begin flowing by 2029.

In the first phase of this project, Senoko Energy aims to reduce carbon emissions by roughly 18, 000 tonnes of CO2 equivalent (tCO2e ) annually. This decline is comparable to removing around 4, 000 vehicles from the streets. Potential aspects could potentially raise this decline to 535, 000 tCO2e, equal to about 119, 000 vehicles. This work is in line with Singapore’s regional strategy for gas and its goal of achieving net-zero pollution by 2050.

Frederik Baerts, leader &amp, CEO of Senoko Energy, expressed joy for the relationship:” Senoko Energy is really excited to be embarking on this association with Gentari, which represents a major step in our commitment to advancing the energy transition. We are taking a bold step forward toward creating a more sustainable energy landscape and low-carbon future because hydrogen has the potential to play a crucial role in reducing carbon emissions.

Through this collaboration, Gentari hopes to strengthen its position as a leading supplier of green molecules in Southeast Asia. Michèle Azalbert, chief hydrogen officer at Gentari, remarked on the significance of cross-border infrastructure:” This partnership with Senoko Energy is a key step in building a hydrogen backbone for Southeast Asia. As we promote the adoption of green hydrogen across the region, cross-border infrastructure like this pipeline connects production and demand centers.

This partnership is part of Senoko Energy’s broader strategy to support Singapore’s transition to a low-carbon future. In addition to these initiatives, SolarShare 2.0, Singapore’s first peer-to-peer grid-scale trading platform for solar energy, was signed with City Energy in a MoU in June 2023 that was focused on hydrogen opportunities.

Gentari is also actively developing Malaysia’s hydrogen economy through various initiatives. These include partnerships with Sarawak’s SEDC Energy to establish a hydrogen production hub and cooperation with Tenaga Nasional Berhad for feasibility studies on green hydrogen.

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Why more young Singaporeans are volunteering in ‘unfamiliar’ Laos

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Ms Kang from Singapore Polytechnic said the circumstance “forced us to consider on our feet, remain flexible and calm, and concentrate on non-verbal contact such as hand gestures, drawings, and demonstrations”.

Additionally, her team gained practical Thai expressions, which improved their host-host relationships and improved their kinship.

The rural schools were denied access to digital tools like Kahoot!, a game-based teaching software, and other language barriers.

Therefore, Mr. Soh’s group had to think outside the box to use the few resources at hand while engaging the students beyond books.

While learning about packaging, for example, students turned cheap containers into piggy banks and old papers into document pots.

The NUS group also made an additional impromptu by using layered report as a recycle whiteboard.

Ms. Yu, however, added that the ground in some Laosan regions also made transportation and logistics challenging for the YMCA’s volunteer teams, who then needed to turn to regional partners for assistance.

NOT ONE-OFF

According to Mr. Soh, Thai teachers have shown interest in adopting Malaysian methods to improve classroom life and make it more engaging through NUS’ Project Sabaidee.

In May 2025, the team will make a second trip it to establish a nursery in order to facilitate children’s smoother transition to the main school system.

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Nobel Prize endorses US abandonment of free markets – Asia Times

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The Royal Swedish Academy of Sciences, following a proposal by the Economic Sciences Prize Committee, awarded the Nobel Prize in Economics to Daron Acemoglu, Simon Johnson and James A Robinson for their so-called “groundbreaking” operate on the part of corporations in shaping economic growth.

Their analysis reveals how industrial institutions contribute to regional failure while inclusive institutions contribute to economic growth. Elinor Ostrom and Oliver E. Williamson were honored for their groundbreaking efforts to financial management, especially those that concern how companies manage shared solutions and resolve conflicts, with this choice recalling the 2009 Nobel Prize.

By appointing a political scientist and an analyst to study these topics within corporations, the Nobel Committee in 2009 acknowledged the value of institutions and management. Also, the 2024 award reflects a move away from free-market finance, emphasizing rather how institutional systems and governance structures affect economic outcomes.

Why, especially in the wake of numerous economic and financial crises, has the Nobel Committee regularly favored non-economic ideas over standard economic models? Look no further than the constraints the Nobel collection commission good faced given the changing geopolitical environment.

The decision to award Ostrom and Williamson in 2009 was primarily motivated by the effects of the global financial crisis of 2008, when Western free-market beliefs were subject to intense scrutiny.

The long-held conviction that areas allocate resources effectively, resulting in products and services at the lowest rates, maximum profits for producers, and no tool wastage, was demonstrated to be fundamentally flawed.

Alan Greenspan, a steadfast supporter of liberal economic theory and the US Federal Reserve’s longest-serving chair, reportedly admitted during a parliamentary hearing that he had mistakenly assumed that resources would be distributed effectively.

According to Greenspan,” a crucial pillar of business rivals and completely markets did collapse.” ” I still do not completely comprehend why it happened”.

Given that choosing a free-market economist would have been socially indefensible in the context of the time’s economic collapse, Ostrom and Williamson’s collection was more of a need than a decision.

In 2024, the selection committee experienced a similar position. In recent years, the West has gradually abandoned the principles of free-market economy and completely industry in the face of China’s state-led and subsidy-fed economic giant.

Traditional economic theory contends that grants harm free areas because they cause a disconnect between prices and production costs, distorting marketplaces, leading to wasteful outcomes, and directing resources to less productive activities. Additionally, trade protectionism is viewed as a business displacement that results in errors and misallocations.

But, US President Joe Biden’s financial plans have evidently departed from free-market rules. His trade policies have led to the most extraordinary protectionism in British history, while his professional policies have been characterized by big government intervention, including strong subsidies, tax breaks, and low credit.

The Research and Development, Competition and Innovation Act, the CHIPS &amp, Science Act, and the Inflation Reduction Act ( IRA ), are important pieces of legislation that offer American businesses significant tax breaks and subsidies. The Biden administration has also instituted a” Buy America” policy for government procurement, a serious violation of World Trade Organization ( WTO ) agreements.

These lending terms and advantageous terms for US businesses highlight Biden’s support for mercantilist trade practices. This includes preserving Trump-era taxes on foreign goods, local material needs, and disciplinary measures against alleged foreign dumping in US marketplaces.

Ironically, the United States has imposed tariffs of up to 100 % on Chinese-made electric vehicles ( EVs ), far exceeding the tariffs under the Smoot– Hawley Tariff Act of the 1930s, which imposed a maximum tariff of about 62 %.

In an April 27, 2023 statement at the Brookings Institution, US National Security Advisor Jake Sullivan outlined the Biden administration’s monetary policy, attributing many of the region’s challenges—such as a hollowed-out manufacturing base, economic inequality, China’s fall and the weather crisis—to prior economic policies.

Sullivan criticized “hyperglobalization”, deregulation and blind faith in trickle-down economics and market efficiency. He argued that the goal of liberalizing trade was to achieve nothing more than its broad-results.

The US Treasury, International Monetary Fund, and World Bank led the effort to promote free markets and trade liberalization in the 1990s, which was a significant departure from the” Washington Consensus.”

Sullivan made it clear that Bidenomics does not rely on the free-market theory that the West once proclaimed as superior to other economic systems. There was a presumption at the heart of all of this regulation: that markets always allocate capital productively and efficiently, no matter what our competitors did, no matter how much our shared challenges grew, and no matter how many guardrails we erected,” Sullivan said.

” Now, no one—certainly not me—is discounting the power of markets. But in the name of oversimplified market efficiency, entire supply chains of strategic goods —along with the industries and jobs that made them—moved overseas. And the postulate that a significant amount of trade liberalization would support American exports of goods was made but not kept was also true.

Regardless of the outcome of the 2024 presidential election in November, Sullivan’s remarks suggest that the United States is turning away from the market economy and adopting a more protectionist stance.

Through the seizure of Russian assets, which challenges the status of private ownership, the West has also undermined the sanctity of private property. These sanctions, including the freezing of assets and the expropriating of those held by Western banks by the Russian Central Bank, directly violate private property rights.

By politicizing economic assets and further undermining the principles of market-based economies, this unprecedented move sets a dangerous precedent. The US-led West has eroded the trust that global capital depends on because it blurs the lines between political retribution and economic governance.

This undermines the laissez-faire economic ideology and destabilizes the global economic order.

One of the biggest paradoxes of the first decade of the 21st century is that the United States, once the biggest supporter of free-market economics and free trade, is now implementing protectionist measures at a rate unobservable since the 1930s.

In essence, the US is putting national security before economic efficiency, and it rejects the notion that” the government is best when governs least.” Meanwhile, China’s Communist Party-led government has become the world’s leading advocate for free trade.

The Nobel Selection Committee de facto supported the West’s shift away from liberalization and globalization by awarding the Nobel Prize to institutions-focused economists. In this context, institutional economics justifies more government intervention in the economy to detriment free markets that were once supported by the US and the West.

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Commentary: Is underconsumption the new consumption? It depends

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LIVERPOOL: I am probably going to betray my age by saying this- I do n’t see why full-length socks are back in fashion, especially when wearing shorts. &nbsp,

It simply looks unusual, and even more so when combined with open-toe shoes. I’m told to pull up my socks, but I ca n’t because, well, they’re ankle-length.

This is more than just a lack of sense of style. It seems I’ve finally reached that point when the cai fan aunty calls me “uncle” ( no more” shuai ge” for you, Terence ), and conversations with friends turn to ElderShield, progressive spectacle lenses, and of course, whether we have enough money to retire.

The next place though, about having enough money, is certainly an generational problem. The older era concerns about retirement, but the younger generation usually worries about day-to-day success. Can they manage loan payments, rent, college fees, childcare, older care- or perhaps lunch? &nbsp,

This is not just a Taiwanese problem. In the face of rising living costs, a sizable portion of university students in the UK are putting in long part-time hours to supplement already insufficient tuition loans. This does n’t just affect their social life, but their learning journey as well.

And despite prices appearing to be sluggish everywhere and central bankers starting to lower interest rates, goods and services are still much more costly than they were a few years ago. People keep getting more anxious and also upset as a result of the price that items keep rising, like when Toast Box decides to raise the price of its kung bread set.

So it should come as no surprise that one of the newest developments on Tiktok is about finding ways to spend and eat less.

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Handout scheme to reach non-smartphone users

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Discussed: 20 Oct 2024 at 05: 22

Eligible people have recently flocked to GSB's branch at Sanam Chai Khet, Chachoengsao province, to withdraw cash given under the state-sponsored cash handout programme. (Photo supplied)
Available people have recently flocked to GSB’s tree at Sanam Chai Khet, Chachoengsao territory, to withdraw money given under the state-sponsored money flyer program. ( Photo supplied )

Deputy Finance Minister Julapun Amornvivat announced that the government would allow those without smartphones to sign up for the state institutions ‘ 10-millennium-baht handout program starting next month.

He claimed on Saturday that the first step of the money handout program for 14.5 million vulnerable people has resulted in a quick flow of money and helped to boost the business nationwide.

For individuals in resilient groups who do not have phones, the government is expected to open enrollment through state-owned businesses in November, he said.

After the first appointment of the Economic Stimulus Policy Committee, which is led by the prime minister, a clear finish may follow. By the end of this month, he promised that the gathering would take place as soon as possible.

He claimed that position institutions ‘ registration system is fully operational and ready to provide services to customers in November.

For step two of the program, he said the government may proceed with the same number of 10, 000 baht.

He said he never verify whether it will be made in a pile sum or in installments because the government does not yet have a set date for when the next phase will begin.

” We continue to work toward creating an open-loop payment program that will allow purchases via online cards,” he said.

When asked if the government may restore the” Khon La Khrueng” co-payment scheme, he said the government has accepted all proposals for attention.

If the job helps persons, the government may choose it to assist promote spending, he said.

The Thai Retailers Association’s president, Nath Vongphanich, stated that the association has suggested that the Revenue Department’s” Shop Dee Mee Khuen” ( Shop and Get Rebates ) program be reinstated at the end of this year, which is regarded as a high season that will greatly increase the mood for spending.

” This will give entrepreneurs and SMEs who have registered for VAT but have n’t yet used it or are requesting approval to issue tax invoices in electronic form as required by the Revenue Department more opportunities to sell goods.

” The estimate is proposed to decrease fees by up to 50, 000 baht for consumers. He predicted that the economic liquidity campaign would result in more than 100 billion ringgit in circulation.

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iCon suspects face grilling

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Failed to pay money duty: Income Dept

Warathaphon 'Boss Paul' Waratyaworrakul, founder and CEO of The iCon Group, is escorted by police from the Central Investigation Bureau (CIB) to the Criminal Court in Bangkok on Friday morning. (Photo: Central Investigation Bureau)
Warathaphon ‘ Boss Paul ‘ Waratyaworrakul, founder and CEO of The iCon Group, is escorted by police from the Central Investigation Bureau ( CIB ) to the Criminal Court in Bangkok on Friday morning. ( Photo: Central Investigation Bureau )

The iCon Group direct sales company will be interviewed by the Revenue Department ( RD ) after they failed to file personal income taxes.

Julapun Amornvivat, the lieutenant finance minister, announced on Friday that an exploration had revealed some business executives did not turn in tax payment aspects to the Revenue Department.

The Department will request the managers ‘ information from financial institutions so that it can be used in tax assessments. They will also get summoned to give explanations, he said.

He added that in order to keep up with the present situation, the Fiscal Policy Office was given the task of reviewing and improving the 1984 executive decree regulating the issuing of false debts.

The Finance Ministry is in charge of enforcing the order, according to Lavaron Sangsnit, continuous director for financing, but some people who have been impacted by the incident have complained to the authorities or the Department of Special Investigation.

According to him, the authority to impose the law may be given to the organizations that have received the issues, adding that police have not yet filed charges against the suspects in the image situation under the 1984 edict.

It is prohibited to urge 10 or more people to invest and promises returns that are higher than the bank’s highest loan interest rates, as per the decree. A person who violates the law may face a sentence in prison of up to 10 times and/or a fine of up to 1 million baht.

Warathaphon” Boss Paul” Waratyaworrakul, a prime suspect in The image Group incident, was remanded in prison along with 17 different suspects after the Criminal Court approved a police ask for confinement on Friday.

The well-known online business’s 41-year-old founder and CEO appeared stressed as he was led off Ratchadaphisek Road by the Central Investigation Bureau ( CIB ).

Police fought for parole, citing collusion with other suspects, organized offences, and victim-sustained behavior by the police. He may create a trip risk if released briefly, according to officials.

After examining the officer’s ask and Mr Warathaphon’s evidence, the courtroom granted the incarceration request. The suspect was taken to Bangkok Remand Prison without asking for loan.

On suspicion of conspiring with the people and entering false data into a computer system, Mr. Warathaphon was one of 18 suspects in custody. All denied the claims.

On Thursday, 17 defendants were taken to court. After three well-known artists ‘ loan requests were turned down due to flight risks, the court sentenced them all, while the others chose not to seek release. The three stars are professional Yuranunt” Boss Sam” Pamornmontri, artist Pechaya” Boss Min” Wattanamontree and TV network Kan” Boss Kan” Kantathavorn.

The suspects, referred to as “bosses” within The image Group’s marketing order, were apprehended on Wednesday following over 1, 000 fraud problems. Patients claimed that the company pressured them into making additional financial commitments, leading to significant losses, after tempting them with low-cost website marketing courses.

Pol Maj Gen Suwat Saengnum, the CIB deputy director, said Mr Warathaphon wanted to give more comments concerning his company. Before he was taken to court the following day, authorities completed their doubting on Thursday at around 8 o’clock.

In terms of public skepticism about the company, Pol Maj Gen Suwat said that researchers needed time to work on the situation and would work with appropriate organizations, promising justice to all parties involved.

Withoon Keng-ngarm, Mr Warathaphon’s counsel, said on Friday that he would not seek bail after other defendants were denied release. Before the court hearing, the attorney made a visit to his client at the CIB business.

During doubting, Mr Warathaphon insisted that his business operated legitimately.

Pol Maj Gen Jaroonkiat Pankaew, assistant director of the CIB, questioned Mr. Warathaphon on Thursday about an sound picture containing a conversation between two people.

The CEO of the company acknowledged that the audio tape that went viral on social media was his own speech. Nevertheless, he insisted he had not paid money to any state firms as alleged.

His lawyer even refuted statements made by Ekkapop Luangprasert, an assistant to the inside minister, regarding commodity transition into bitcoin for bribes.

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China economy slowdown deepens, official figures show

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China’s economic downturn grew worse in the three months leading up to September as the nation fought to resurrect its slowing economy.

Gross domestic product (GDP) rose by 4.6% on an yearly basis, below the government’s 5% annual target, according to China’s National Bureau of Statistics.

Beijing has announced a number of measures to encourage growth in recent months.

The world’s second largest market has been hit by a number of problems, including a home problems, as well as poor customer and business trust.

This may raise questions for the Chinese government because it is the second time in a column that its official economic growth indicator has fallen below the goal of 5 %.

China’s central banks announced earlier on Friday that it had urged banks and other financial institutions to increase borrowing to encourage growth.

Last month, the People’s Bank of China ( PBOC ) announced the country’s biggest stimulus package since the pandemic, including large cuts to interest and mortgage rates.

The plans also included measures to encourage banks to contribute more to both businesses and individuals in addition to helping the sagging investment business.

More programs have been made available by the Ministry of Finance and various government agencies since then to promote economic growth.

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FM to represent Thailand in Brics Plus meet in Kazan

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In: South-East Asia

PUBLISHED: 18 Oct 2024 at 05: 00

(Photo: brics-russia2024.ru)
( Photo: brics-russia2024. ru )

Thailand will participate in the fourth Brics Plus Summit in Russia, though it was previously announced that Prime Minister Paetongtarn Shinawatra may be speaking alongside the land, Maris Sangiamposa may represent the country, not Maris Sangiamposa.

According to Foreign Affairs Ministry official Nikorn Balankura yesterday, the state will take part in the conference, which will be held from Oct 22-24 in Kazan, Tatarstan, after it was invited to attend by Russian President Vladimir Putin.

The fourth edition of the Brics Plus Summit will see the bloc’s founding members– namely Brazil, Russia, India, China and South Africa– welcome Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates ( UAE ) as new members.

Mr Putin even invited around two hundred other countries that have expressed their interest in joining the team, including Thailand, Malaysia, Indonesia, Laos, Vietnam, and Kazakhstan.

This week’s meeting will be held under the theme” Brics and the International South: Building a Better World Up”.

Thailand does have a great opportunity to reaffirm its efforts to strengthen its relationship with the Brics, he added, noting that the nation summited its application for Brics membership in June.

In the meantime, Russia is attempting to persuade Brics nations to create an alternate payment system that would be free of American sanctions.

Mr. Putin wants to strengthen Brics as a strong counterpoint to the West in world politics and business. According to a report prepared by Russia’s finance department and central banks, the request for a new payment program based on a system of corporate banks linked to one another through the Brics central banks may be presented to journalists ahead of the summit.

The system may save and move electronic tokens that were secured by foreign currencies using blockchain technology. This would subsequently make it possible to exchange those assets without having to use the money.

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