Asian markets can recover and rise further despite volatility: Analysts

The notion” when the US sneezes, the earth catches a cool” is extremely important here, said Mr Chen Jingwei, chief investment strategist of money management system Wrise Private Singapore.

He cited the interconnectedness of the global economy in terms of supply chains and financial businesses, saying that” the synchronized decline in both US and Asian markets shows how global investor sentiment has changed, with a shift toward safer assets like government bonds and investment-grade record.”

Nvidia only, along with expectations of a rate cut in the US, are also considerable forces in the market, said Mr Chen.

The researchers also made a point about how dangerous September has previously been for companies, with Mr. Cheo noting that the month has experienced the biggest stock market adjustments over the years.

This year, owners even have two main events to deal with, besides the US employment report on Friday, Mr Menon added.

He cited the Fed appointment a week later on September 10 and the conversation between Donald Trump and Kamala Harris on September 10 back of a November election.

Prospects IN SECTORS, Marketplaces

Nevertheless, observers claimed that the tech industry still has potential for the long term, even though it may have been hit harder in recent years.

” We maintain a bullish outlook on generative (artificial intelligence ) and Nvidia”, said Mr Chen of Wrise Private. ” Powerful demand from servers and AI remains unchanged, and we continue to view business falls as buying&nbsp, options”.

He even said defense industries like real estate, services, and consumer items appear more tenacious in a lower interest rate environment. &nbsp,

Mr. Cheo of HSBC stated that the company is still supportive of the technology sector but wants to give more of its stock to US commercial companies. &nbsp,

The lender wants to reduce its holdings of consumer voluntary stocks in response to the slowdown in growth and price volatility in the auto and electric vehicle industries.

Broadly, &nbsp, Asia’s financial website benefits from fundamental trends, AI-driven technology and an investment surge fueled by supply chain revamps and natural transformation, he said.

To capitalize on their growth changes and to benefit from corporate leadership transformation victors in some areas, Mr. Cheo continued,” We favor equities in Japan, India, and South Korea.”

Mr. Menon, an OCBC journalist, claimed that India’s young people and its massive economy could see more growth.

Domestic demand is driving the country’s economy, and India had gain as businesses try to diversify their businesses away from China.

” We are also optimistic on the Singapore bourse, where prices are relatively low, and the market offers many offer opportunities for those looking for earnings,” he said, adding that REITs or Etfs are anticipated to perform better as interest rates drop.

Continue Reading

400-baht daily wage  plan set to go ahead

Labour Minister Phiphat Ratchakitprakarn
Labour Minister Phiphat Ratchakitprakarn

Despite fears that the increase may hurt companies, Labour Minister Phiphat Ratchakitprakarn insists that the daily salary will increase to 400 baht on October 1.

A committee headed by the Ministry of Labour, according to Mr. Phiphat, may start a global minimum wage increase of 400 baht on October 1 as planned after discussions with company providers and a study by that committee.

” We are aware that the market is sluggish. Therefore, I have told the permanent secretary of Labour]Phairoj Chotikasatien ] to consider the issue with the most logical knowledge”, he said.

According to a study conducted with the Social Security Office ( SSO ), the government’s policy of a wage hike policy should apply to businesses or factories with at least 200 employees when the ministry announces a minimum wage of 400 baht.

The minister said,” This is a conclusion that we will have to discuss with the Ministry of Finance and the National Economic and Social Development Board.”

He stated that the SSO will take steps to give businesses with over 200 employees a 1 % discount on their Social Security Fund ( SSF ) contributions starting from next month until September of next year.

Mr Phiphat said small- and medium-sized enterprises ( SMEs ) with less than 200 employees will not be required to increase wages. Nevertheless, he emphasised the need to help these smaller firms, which employ around 90 % of the country’s workplace, until the economy summons.

He expressed confidence in the ability of the new government, which will be led by Paetongtarn Shinawatra, who he described as a new-generation head.

The secretary also made it known that the Labour Ministry did request that the Finance Ministry repurpose a compensation measure passed in 2012 after Yingluck Shinawatra announced the increase of the minimum salary to 300 baht.

Additionally, Mr. Phiphat mentioned the possibility of collaborating with monetary institutions to offer low-interest funds to businesses to help them keep their cash and liquidity following the pay increase’s implementation.

Additionally, he claimed that there will be a tax-savings program for businesses that offer employees job training.

However, Sanga Ruangwattanakul, chairman of the Khao San Road Business Association, said he is concerned about the pay increase as it will have both direct and indirect effects, such as a decline in jobs, cuts and higher prices.

Mr. Sanga urged the government to support the private market until the economy recovers by offering them tax breaks and exclusions.

I want the authorities to reevaluate and consider a way to make people more wealthy and enable them to succeed. Handing out money is never a green remedy”, said Mr Sanga. The government should take that place by creating tasks and honing staff ‘ abilities.

Continue Reading

Thai PM Paetongtarn to prioritise tackling B16bn household debt

Thailand's Prime Minister Paetongtarn Shinawatra gestures during a group photo session ahead of a special cabinet meeting at Government House in Bangkok on Saturday. (Reuters photo)
Before a particular case meeting at Government House in Bangkok on Saturday, Thailand’s Prime Minister Paetongtarn Shinawatra poses for a group photo. ( Reuters photo )

Thailand’s new government intends to launch a comprehensive debt restructuring to address the estimated$ 474 billion of home loan, provide small businesses with financial aid, and increase fiscal stimulus to boost growth.

According to a draft policy speech seen by Bloomberg News, the bill remodel may apply to the entire system and will be specifically targeted at easing auto and home loan lenders. On September 12th, Prime Minister Paetongtarn Shinawatra will make the strategies public. &nbsp,

The program will also support the informal market, and will be implemented through state-owned financial organizations, commercial banks and property management businesses.

According to Ms. Paetongtarn, the government is concerned about rising non-performing loans and household debt that is more than 16 trillion baht, or more than 90 % of GDP. The primary minister may claim that the debt is causing disparity between the rich and the poor, with growth concentrated primarily in Bangkok and big cities.

The coalition government led by her Pheu Thai Party and supported by a number of pro-establishment and nationalist organizations will list their interests in the scheme speech. After her father Srettha Thavisin was dismissed by a judge over an ethical violation, the youngest child of the eminent previous head Thaksin Shinawatra’s youngest daughter was elected by congress last fortnight. &nbsp,

Ms Paetongtarn, the third member of the influential Shinawatra clan to lead the country, faces the challenge of boosting a$ 500 billion economy that’s lagged its neighbours with an average 1.9 % growth rate during nearly a decade of military-backed rule. &nbsp,

Thailand’s youngest premier will need to convince foreign investors that she can set up a steady administration, steer clear of conflict with the central bank, and push policies to help revive tourism and support manufacturing growth.

The country’s economic growth rate is anticipated to be no more than 3 % annually, according to Ms. Paetongtarn, which will push public debt close to the legal maximum of 70 % of GDP in 2027. ” So, it is a great challenge that the government had immediately restore the government’s economy to grow clearly again soon”.

While Ms. Paetongtarn’s government plans to carry out the majority of Mr. Srettha’s plan initiatives, it likewise borrows from a road map created by her father Thaksin next month to create a new Thailand. The policy statement makes clear that more economic stimulus is required, but it does n’t go into specifics about the contentious cash handout plan that Mr. Srettha’s administration is working on.

Digital budget

The top will address the legislature by stating that there is a needed to “build confidence and inspire spending, along with alleviating the burden of expenses and increasing opportunities for employment, with a focus given to vulnerable groups and the promotion of the digital wallet project, which will lay the foundation for the modern economy,” as well as” to build confidence and inspire spending, along with alleviating the burden of expenses and increasing opportunities for employment. &nbsp,

After a special cabinet meeting on Saturday, Ms. Paetongtarn stated that her government will continue with the so-called digital wallet program, which guarantees about 50 million adult Thais each a dollar and will follow the law. About 14.5 million people, including 1 million with disabilities, may be covered in the first phase of the programme in September, officials have previously said.

The strategy to help small and medium enterprises, which account for about 35 % of the workforce and GDP, will include debt suspension, access to liquidity and steps to shield them from unfair foreign competition through online platforms, according to the policy blueprint. &nbsp,

The new administration will speed up the process of creating a more democratic constitution that guarantees political stability, guarantees human rights, and upholds the rule of law. &nbsp,

Ms. Paetongtarn is scheduled to state that” Thailand has been dealing with political instability and intense ideological conflicts for a long time, which have had an impact on investor confidence both domestically and internationally and have continued to have an impact on economic growth.” ” Therefore, this government must restore the confidence of both Thais and foreigners by developing politics in a democratic regime to be strong, stable, have the rule of law and transparency”.

Other crucial decisions that the draft includes include:

  • lowering energy and utility costs by changing direct purchase agreement regulations, developing strategic petroleum reserves, and exploring alternative energy sources, particularly those that lie in claims that cross Cambodia and Cambodia.
  • Redesigning the tax system to give income distribution a priority and integrating more than 50 % of the grey economy into the tax system
  • examining the viability of a” step-by-step tax refund system” for low-income people.
  • Promoting tourism by changing the MICE groups and the so-called digital nomads ‘ visa requirements, introducing amusement parks, entertainment complexes, and holding concerts, international sporting events, and introducing new tourism initiatives.
  • accelerating the negotiation of free trade agreements with significant trading partners and preparing to join the Organization for Economic Co-operation and Development ( OECD ) as a member.
  • ensuring that the marriage equality law is effectively implemented
  • promoting the land bridge proposal with the private sector and continuing to invest in large-scale transportation projects, new airports, and
  • focusing on creating a wellness and medical hub, including medical marijuana.
  • modifying laws to make Thailand a financial hub
  • promoting Thailand as a producer of clean energy, creating free electricity trading markets, and granting carbon credits
  • Starting from cutting off the source of production and distribution by cooperating with neighboring countries, we must first and foremost solve the drug problem.

Continue Reading

Thai PM Paetongtarn to prioritise tackling B16tn household debt

Thailand's Prime Minister Paetongtarn Shinawatra gestures during a group photo session ahead of a special cabinet meeting at Government House in Bangkok on Saturday. (Reuters photo)
Before a particular case meeting at Government House in Bangkok on Saturday, Thailand’s Prime Minister Paetongtarn Shinawatra poses for a group photo. ( Reuters photo )

Thailand’s fresh government intends to slash household bill by approximately$ 474 billion, provide small businesses with financial aid, and increase fiscal stimulus to boost growth.

According to a draft policy speech seen by Bloomberg News, the bill remodel may cover the entire system and will be specifically targeted at easing consumers of car and house loans. On September 12th, Prime Minister Paetongtarn Shinawatra is scheduled to make the strategies public in congress. &nbsp,

The program will also support the informal market, and will be implemented through state-owned financial organizations, commercial banks and property management businesses.

According to Ms. Paetongtarn, the government is concerned about rising non-performing funding and household debt that is more than 16 trillion baht, or more than 90 % of the gross domestic product. The prime minister will claim that the rich and the poor are disproportionately impacted by advancement in Bangkok and big places due to the debt.

The coalition government led by her Pheu Thai Party and supported by a number of pro-establishment and nationalist organizations will list their interests in the scheme speech. After her father Srettha Thavisin was dismissed by a judge over an ethical violation, the youngest child of the eminent previous leader Thaksin Shinawatra’s youngest daughter was elected by congress last fortnight. &nbsp,

Ms Paetongtarn, the third member of the influential Shinawatra clan to lead the country, faces the challenge of boosting a$ 500 billion economy that’s lagged its neighbours with an average 1.9 % growth rate during nearly a decade of military-backed rule. &nbsp,

Thailand’s youngest top will need to convince foreign investors that she can set up a steady administration, steer clear of conflicts with the central bank, and support policies designed to stop a slump in manufacturing and support tourism growth.

Ms. Paetongtarn will state that if there are no financial and fiscal measures that support economic expansion, the country’s economic growth rate is anticipated to be no more than 3 % annually. This will result in a rise in public debt close to the legal maximum of 70 % of GDP in 2027. ” So, it is a great challenge that the government had immediately restore the government’s economy to grow clearly again soon”.

The management of Ms. Paetongtarn will continue to implement the majority of Mr. Srettha’s coverage initiatives, but it also uses a blueprint from her father Thaksin’s announcement last month to create a new Thailand. The administration’s controversial cash handout plan is being pursued by Mr. Srettha’s administration, but the policy statement does n’t go into specifics.

Digital pocket

The premier may address the government to urge the government to “build confidence and inspire spending, as well as ease the burden of expenses and increase employment opportunities, with a particular focus on vulnerable groups and the advertising of the digital wallet project, which may lay the foundation for the modern economy.” &nbsp,

Following a particular case meeting on Saturday, Ms. Paetongtarn stated that her government will continue with the alleged digital wallet program, which guarantees 10 000 baht for each of the estimated 50 million adult Thais. About 14.5 million people, including 1 million with disability, may get covered in the first step of the program in September, authorities have recently said.

The strategy to help small and medium enterprises, which account for about 35 % of the workforce and GDP, may include debt suspension, access to cash and measures to shield them from harsh foreign rivals through online channels, according to the plan template. &nbsp,

The new administration will speed up the process of creating a more democratic constitution that guarantees political stability, guarantees human rights, and upholds the rule of law. &nbsp,

According to Ms. Paetongtarn,” Thailand has been dealing with political instability and intense ideological conflicts for a long time, which have had an impact on investor confidence both domestically and internationally, and have continued to have an impact on economic growth.” ” Therefore, this government must restore the confidence of both Thais and foreigners by developing politics in a democratic regime to be strong, stable, have the rule of law and transparency”.

Other crucial decisions that are included in the draft are:

  • lowering energy and utility costs by changing direct purchase agreement regulations, developing strategic petroleum reserves, and exploring alternative energy sources, particularly those that lie in claims that cross Cambodia and Cambodia.
  • reorganizing the tax system to give income distribution more weight and integrating more than 50 % of the grey economy into the tax system
  • examining the viability of a” step-by-step tax refund system” for low-income people.
  • Promoting tourism by reviving the MICE groups’ and the so-called “digital nomads” visa requirements, adding amusement parks, entertainment complexes, and holding concerts, international sporting events, and other important changes.
  • advancing the signing of free trade agreements with significant trading partners and preparing to join the Organization for Economic Co-operation and Development ( OECD ) membership.
  • ensuring that the marriage equality law is effectively implemented
  • promoting the land bridge proposal with the private sector and continuing to invest in large-scale transportation projects, new airports, and
  • focusing on creating a wellness and medical hub, including medical marijuana
  • modifying laws to make Thailand a financial hub
  • promoting Thailand as a producer of clean energy, creating free electricity trading markets, and granting carbon credits
  • Starting with halting the supply and distribution of drugs by cooperating with neighboring nations, we can solve the drug problem decisively and comprehensively.

Continue Reading

Chinese giant Chery could build cars in UK

Chery Chery Omoda carsChery

According to a top executive, Chinese automaker Chery is considering the possibility of producing vehicles in the UK.

Its UK director Victor Zhang told the BBC that there was” a matter of time” before the business reached a final selection.

He said Chery, which is already preparing to build cars in Spain, was determined to take a “localised” solution to the German business.

Mr Zhang denied the company’s export had benefitted from cruel incentives.

Chery, which was set up in 1997, is one of China’s largest automobile organizations. It is already the region’s biggest producer of cars, but has ambitious plans to expand more.

It has established two new models, Omoda and Jaecoo, to assist with that plan’s development.

Next month, Omoda was formally launched in the UK. It has begun selling a contemporary SUV, the Omoda 5, in both energy and petrol-powered types.

It has built a community of 60 retailers, and hopes to have more than 100 here by the end of the year.

However, it is not the only Chinese manufacturer to consider the American market as possible profitable.

In addition to opening lots of retailers in this city, BYD, which has been fighting with Tesla to become the biggest energy car manufacturer in the world, has opened lots of them.

SAIC is already well-known in the UK, and it sells vehicles under the recognizable English MG brand.

It’s only a matter of day.

At Chery’s production facility in Wuhu, in Eastern China, cars for sale in Europe are now being produced there. However, it is anticipated that things will change.

The business now has a contract with EV Motors, which will enable the production of the Omoda and Jaecoo models at a previous Nissan manufacturer in Barcelona. However, it wants to establish additional foundations as well.

The firm reported earlier this year that the UK might also be a potential location for an assembly plant. That choice is still open.

” Barcelona, this is something we are now commited to”, explained Mr Zhang

” For the UK, we are even evaluating. To be honest, we are available for all options and opportunities.

” So I think it’s just a matter of day. If everything is available, we will do it”.

The UK is not the only state on Chery’s record. It has also been talking to the Roman government about, for instance, starting production there.

Mr. Zhang argued that the choice may be made based on which nation was able to provide the best opportunities.

” For such a large purchase project, it’s a combination of aspects”, he said.

” It’s not just federal policy or bonuses. You also need to look at the business itself, knowledge, because you need great talented individuals such as professionals and factory workers, there’s even supply chain, shipping.

” So our ultimate decision will take into account some factors.”

Since July, when the EU imposed severe taxes or fees on imports of electric cars from China, there has been more force to establish manufacturing outposts in Europe.

This was done, Brussels said, because carmakers in China were benefitting from “unfair grants” which allowed their vehicles to get sold worldwide very cheaply, undermining local companies. China accused the EU of corporatism.

By building its products in Europe, Chery may evade paying those taxes. However, Mr. Zhang insisted that his business had always been committed to nearby manufacturing.

” We are never trying to use any harsh practices”, he insisted.

” We want to be flexible to the local market, and provide the best products, using the best retailers. The only long-term approach is to be localized, he said.

The UK has not yet indicated whether it will implement levies of its own in a similar manner.

China’s domestic automobile market is huge, with more than 30 million cars sold each month.

Its play in the international market is currently significant, with almost 5 million cars exported final year. That was a 64 % improve on the year before.

Foreign companies still account for a small percentage of car sales in the UK, or about 5 % of total.

However, seasoned automakers worry that the price of Chinese manufacturers ‘ products may increase rapidly, with the expectation that a significant part will be played by the industry.

Continue Reading

PM vows to serve full three-year term

New staff to handle legal problems

Hearts and minds: Prime Minister Paetongtarn Shinawatra makes mini-heart signs during a group photo session with cabinet ministers on the lawn of Government House on Saturday. The ministers were granted an audience with His Majesty the King to be sworn in during a ceremony in which the King approved the entire 35-member cabinet. (Photo: Nutthawat Wichieanbut)
Hearts and minds: On Saturday, during a team picture session with government officials on the garden of Government House, Prime Minister Paetongtarn Shinawatra makes mini-heart indicators. During a meeting where the King gave the 35-member cabinet its full approval, the ministers were given an audience with His Majesty the King, who was sworn in. ( Photo: Nutthawat Wichieanbut )

Prime Minister Paetongtarn Shinawatra has pledged to offer for the entirety of her three-year term in office and has set up a staff to handle any legal disputes brought against her.

She made these notes after chairing a particular case gathering at Government House on Saturday to make the government’s plan speech, which will be presented to congress on September 12 and 13.

Before beginning its work, the government is required to give its speech to parliament.

” I want to have out my tasks until I finish my three-year name to ensure consistency in the laws of my father, Srettha Thavisin”, Ms Paetongtarn said.

” I am Pheu Thai’s perfect secretary,” as Mr. Srettha was. We have even discussed coverage suggestions from coalition partners for addition in the statement.

” Some plans may get carried over from Mr Srettha’s state, and partnership events have discussed adjustments to ensure the policies are important to present circumstances,” Ms Paetongtarn added.

After the Constitutional Court dismissed Mr. Srettha on August 14 for an honest infraction related to his determination to appoint former convict Pichit Chuenban as a secretary in the Prime Minister’s Office, the president of the decision Pheu Thai Party assumed the position of prime minister.

She now has about three years remaining in company, following Mr Srettha’s exit after eleven months and 21 days.

Every year, Ms. Paetongtarn said she will match with each of her cabinet ministers informally.

Every government minister and I are prepared to serve the nation, I assure you. We may race against time to ensure the people’s best interests, she declared.

A legitimate team will be set up to handle grievances against the state, according to the prime minister.

When questioned about the problems she had received, she responded,” I will do my best to respond.”

” I do n’t want to be involved in lawsuits. My kids are also young”.

The problems have now started to surface. Her comments come in response to Ruangkrai Leekitwana’s grievance that alleges Ms. Paetongtarn is being manipulated by her parents, Thaksin Shinawatra, filed with the Election Commission last Wednesday.

The problem even questioned the legitimacy of her decision to step down from her position as director of 20 businesses before assuming the league.

During Saturday’s special meeting, Ms. Paetongtarn likewise set out her interests for her government officials.

Her second official statement came after the cabinet took an oath-taking on Friday before His Majesty the King.

Ms. Paetongtarn emphasized the importance of rescinding His Majesty the King’s tips, which she described as a cause of encouragement and guidance for the government’s work in the coming years during the meeting at Government House. She stressed the need to keep the economic policies of her father, Mr Srettha.

She also directed cabinet officials to create lists of candidates for permanent secretary opportunities in their respective ministries to fill openings left by retired officials and those serving for four years.

Following the plan speech, the cabinet may receive these lists.

Also, all ministers must be available to respond to inquiries about their respective portfolios while delivering the policy statement.

Ms. Paetongtarn urged them to spread their policies and to encourage them in order to increase public knowledge.

Another top goal is for government people to carry out the economic stimulus initiatives that Mr. Srettha has in mind.

A source further indicated that the particular case meeting approved Dr. Prommin Lertsuridej’s session as the Prime Minister’s secretary-general. Dr Prommin, who has relations to the Shinawatra home, originally held this position under the Srettha management.

Pheu Thai’s premier digital wallet flyer program, which is expected to be rolled out before the close of the 2024 fiscal year on Sept. 30, is at the top of the president’s plan, according to state resources.

A secondary bill that would increase the government’s budget for the current fiscal year by 122 billion ringgit has already been approved by parliament.

But, deputy finance minister Julapun Amornvivat has recently acknowledged that some consumers may need to receive cash in the form of electronic money.

Continue Reading

Thai PM Paetongtarn vows to serve full 3-year term

New staff to handle legal problems

Hearts and minds: Prime Minister Paetongtarn Shinawatra makes mini-heart signs during a group photo session with cabinet ministers on the lawn of Government House on Saturday. The ministers were granted an audience with His Majesty the King to be sworn in during a ceremony in which the King approved the entire 35-member cabinet. (Photo: Nutthawat Wichieanbut)
Mini-heart signs are made by Prime Minister Paetongtarn Shinawatra and government officials on Saturday during a photo session at Government House. The King gave the ministers an viewers during which the King gave the all-clear approval of the 35-member case, and they were sworn in with His Majesty the King. ( Photo: Nutthawat Wichieanbut )

Prime Minister Paetongtarn Shinawatra has pledged to offer for the entirety of her three-year term in office and has set up a team to solve any legitimate disputes brought against her.

She made these notes after chairing a particular case gathering at Government House on Saturday to make the government’s plan speech, which will be presented to congress on September 12 and 13.

Before beginning its job, the government is required to provide its speech to parliament.

” I want to have out my tasks until I finish my three-year name to ensure consistency in the laws of my father, Srettha Thavisin”, Ms Paetongtarn said.

” I am the Pheu Thai prime minister, only like Mr. Srettha was. In addition, we have discussed coalition party plan suggestions for participation in the statement.

” Some plans may get carried over from Mr Srettha’s state, and partnership events have discussed adjustments to ensure the policies are important to present circumstances,” Ms Paetongtarn added.

After the Constitutional Court dismissed Mr. Srettha on August 14 for an honest infraction related to his determination to appoint former convict Pichit Chuenban as a secretary in the Prime Minister’s Office, the president of the decision Pheu Thai Party assumed the position of prime minister.

She presently has about three years remaining in office, following Mr Srettha’s exit after eleven months and 21 days.

Every year, Ms. Paetongtarn said she will match with each of her government officials informally.

Every government minister and I are prepared to serve the nation, I assure you. We may race against time to ensure the people’s best interests, she declared.

The prime minister even announced the formation of a legal team to handle grievances against the state and offer legal counsel.

When asked about the problems she had received, she responded,” I will do my best to address them.

” I do n’t want to be involved in lawsuits. My kids are also young”.

The issues are now beginning to surface. Her comments come in response to a problem Ruangkrai Leekitwattana filed with the Election Commission next Wednesday, alleging that Ms Paetongtarn is being manipulated by her parents, Thaksin Shinawatra.

The problem even questioned the legitimacy of her decision to step down from her position as director of 20 businesses before assuming the league.

During Saturday’s special meeting, Ms. Paetongtarn likewise set out her interests for her government officials.

Her second official statement came after the cabinet took an oath-taking on Friday before His Majesty the King.

Ms. Paetongtarn emphasized the importance of adhering to His Majesty the King’s guidance during the conference held at Government House, which she described as a source of encouragement and guidance for the government’s job away. She stressed the need to keep the economic policies of her father, Mr Srettha.

She also directed cabinet officials to create lists of candidates for permanent secretary opportunities in their respective departments to load vacancies left by retiring leaders and those serving for four years.

Following the plan speech, these lists will be presented to the cupboard.

Also, all ministers must be available to respond to inquiries about their respective portfolios while delivering the policy statement.

Ms. Paetongtarn urged them to market and connect their policies in order to increase public understanding.

The Cabinet people should also make it a top priority to carry out the monetary stimulus initiatives that Mr. Srettha has in mind.

A source further indicated that the particular case meeting approved Dr. Prommin Lertsuridej’s session as the Prime Minister’s secretary-general. Dr Prommin, who has relations to the Shinawatra home, originally held this position under the Srettha management.

According to federal sources, Pheu Thai’s premier digital wallet flyer program, which is scheduled to be implemented by the end of the 2024 fiscal year on September 30th, is at the top of the administration’s plan.

A secondary bill that would enhance the government’s budget for the current fiscal year by 122 billion ringgit has already been approved by parliament.

But, deputy finance minister Julapun Amornvivat has previously acknowledged that some consumers may need to receive cash in the form of electronic money.

Continue Reading

Miss Fiji 2024: The alleged plot to steal a queen’s crown at tumultuous beauty pageant

Asvin Singh Two women wearing beauty pageant sashes smile at the camera. The woman on the right is the winner Manshika Prasad, who's wearing a white dress and holding a bouquet of flowers and wearing a tiara. On the left is Nadine Roberts, wearing an orange dress and also holding a bouquet.Asvin Singh

In a tucked-away corner of heaven, overlooking the obvious lakes of the South Pacific, a storm of discussion was about to fall on Fiji’s Pearl Resort &amp, Spa.

Manshika Prasad, a 24-year-old MBA pupil, had just been named Miss Fiji while holding a bouquet of flowers on level.

But shortly after, according to one of the judges, points at the beauty pageant “turned actually unattractive”.

What transpired over the course of a few days could be considered ugly; it might be an understatement to say that beauty queens would be crowned and deposed, wild accusations would be made, and later there would be the appearance of a dark figure with a very personal connection to one of the candidates.

Two weeks after winning, Ms. Prasad’s announcement in a press release revealed anything was wrong. It said a” major breach of concepts” had occurred, and “revised outcomes” may be made public soon.

A few hours later, it was announced that Ms. Prasad would n’t be contesting for the Miss Universe title in Mexico in November.

Otherwise, runner-up Nadine Roberts, a 30-year-old design and home creator from Sydney, whose family is Fijian, would take her place.

According to the press release, the” right techniques” were not followed, and Ms. Prasad was chosen in a rigged voting that favoured a” Fiji Indian” contestant to win because it would bring economic benefits to the show’s boss.

Ms. Prasad, who was upset, said she would be taking a break from social media but warned that” so much the consumer did not know about” what she had in mind.

The new monarch, however, offered a concept of assistance. ” We are all impacted by this”, Ms Roberts wrote on Instagram, before thanking Miss Universe Fiji for its” sharp activity”.

However, those who entered the contest were unsatisfied because there were too many variables to consider.

JENNIFER CHAN A woman in the foreground wearing a red, pink, black and orange outfit poses on stage. Behind her in the background are her seven fellow contestants for the Miss Fiji contest.JENNIFER CHAN

” Everything had been running thus smoothly”, says Melissa White, one of seven judges on the screen.

She had been flown in from New Zealand to comment on the contest’s generosity and economic concerns.

” It was for a great day, for a successful show. There were” no people saying they’d never seen pageant girls get along so well,” Ms. White tells the BBC.

The courts were asked to write down the name of someone they believed should be the next Miss Fiji as the contest drew to a crescendo on Friday night.

” By this stage, Manshika]Prasad ] was the clear winner”, says Jennifer Chan, another judge, who’s a US-based TV host and style and beauty expert.

” No solely based on what she presented on level but also how she interacted with the other ladies, how she photographed, how she modelled”.

Ms Chan says she was” 100 % confident” that Ms Prasad was the strongest candidate to represent Fiji.

With four of the seven votes cast, much of her brother judges decided, and Ms. Prasad was declared the winner.

But as the newly-crowned Miss Universe Fiji stood on stage, beaming in her beautiful crown, the magistrates sensed something was bad.

To her straight, Nadine Roberts- wearing her runners-up ribbon- was” seething”, alleges Ms Chan.

” I remember going to bed thinking, how could someone feeling therefore entitled to get?

” You win some, you lose some. She’s a well-known charm show competitor, so she must have known that.

Ms. Prasad and the judges took a joyous boat trip the following day.

” She was just in wonder, saying: my existence may be changed then,” says Ms Chan.

She’s the epitome of that kind-hearted person who deserves it, which merely confirmed to me that I had chosen the right woman.

But there had still been no standard assurance of Ms Prasad’s success.

Not only that, Riri Febriani, a judge for Lux Projects, the company that purchased the rights to host Miss Universe in Fiji, was noticeably absent from the vacation.

” I remember thinking that was strange,” says Ms White, who shared a chamber with Ms Febriani”. But she only stated that she needed to talk to her employer because she had a lot of work to accomplish.

There is no way the others would know who she was messaging on her phone, according to Ms Febriani, and she claims she did n’t take the boat trip because she needed to rest.

However, Ms. White claims she discovered that her companion was receiving calls and texts from a male named” Jamie.”

JENNIFER CHAN A woman wearing a white shirt and bottoms and blue bikini top poses on a boat in the sea, in front of a man picturing a picture with his phone.JENNIFER CHAN

You need to purchase a license that will allow you to use the product and buy tickets for the event because Miss Universe is a multi-million-dollar company that operates like a company.

Fiji has n’t entered a participant since 1981 because those licenses are cheap and it’s difficult to find someone in small nations willing to fund one.

But this year, one company was willing to buy the permission: property development company Lux Projects.

Ms Febriani was its member on the judging panel, but moreover looked after media contacts.

” I’d got on so well with her, she seemed a really nice person,” says Ms White.

” But that day when she did n’t come on the boat, her demeanour kind of changed. She just kept saying that she was constantly on the phone with this” Jamie” man and was extremely busy at work.

Despite having Ms. Febriani on the board, it turned out Lux Projects was unhappy with the outcome of the voting.

Its media release on Sunday said the owner itself should also get a ballot- one which the contracted administrator, Grant Dwyer, had” failed to count”.

Lux Projects may have voted for Ms Roberts, bringing the benefits to a 4-4 knot.

What’s more, it said, the owner even had the” determining ballot”- making Ms Roberts the success.

Always were we informed of an eighth judge or any other absent judge,” says Ms. Chan.

” It was n’t on the website, it was n’t anywhere. Besides, how can you voting on a challenge if you’re not even there?”

Ms White was likewise cautious.

According to Ms. White,” I did some cutting and it turns out that Lux Projects was strongly associated with an American businessman called Jamie McIntyre.”

” And Jamie McIntyre,” she told the BBC”, is married to Nadine Roberts.”

The person on the phone

Mr McIntyre describes himself as an investor, entrepreneur and” world-leading educator”, who has- according to data accessible online- been married to Ms Roberts since 2022.

He was also banned from doing business in Australia for a decade in 2016 due to his involvement in a property investment scheme that lost investors more than A$7m ($4.7m; £3.6m). The judge in the case said there was “no evidence to suggest that successful reform is likely”.

The legislator who questioned him as part of a hearing for a political committee afterwards claimed that he was” the most deceptive see I have had to offer with- and that’s saying something,” according to the Sydney Morning Herald.

But what was he doing here?

” ]Mr McIntyre ] is n’t a director or shareholder of the MUF licensee company, but has acted as an adviser, as he is a shareholder in associated companies,” Jamie McIntyre’s representatives told the BBC.

Nevertheless, the company’s Instagram site does have a video of Mr McIntyre giving property purchase tips, as well as a link to 21st Century University, a Bali-based home business owned by Mr McIntyre.

A” Jamie” was on the line during phone calls between Ms. Roberts and the event organiser, Grant Dwyer, according to the BBC.

Although they did acknowledge that he had “provided advice to the holder of the licence holder,” Mr. McIntyre’s representatives assert that the allegations that he was involved in the judging controversy are a” conspiracy theory.”

Additionally, the press release’s claim that Mr. Dwyer allegedly voted for Ms. Roberts undermines the claim that he had pressured the panel to choose her because of her race.

Getty Images A man in a light coloured suit stands in front of a lectern delivering a speech into a microphone. He also appears enlarged on the big screen behind him.Getty Images

” It’s just gross to even bring up race,” says Ms Chan”. It was never, ever once uttered amongst any of the judges,” she adds.

The BBC has sought comment from both Ms Roberts and Ms Prasad, but neither has responded.

Several of those involved- including some judges and contestants- have been sent” cease and desist “emails by Lux Projects, the BBC understands, which have been taken as tantamount to gagging orders by the recipients.

Prestige, glory- and money

By no means is this scandal in Fiji the first to affect the world of beauty pageants, which has historically seen its fair share of controversy.

” Pageants are full of drama, of controversies, of people saying the contest was a fix,” says Prof Hilary Levey Friedman, author of’ Here She Is: The Complicated Reign of the Beauty Pageant in America.’

She continues,” But I will say that these issues have become much more pronounced in recent years thanks to social media,” she continues.

Recent controversy has tended to occur in less developed regions of the world, aside from a 2022 voting scandal at the Miss America contest.

According to Prof. Friedman, this is probably because, in many Western nations, pageants are typically non-profit affairs, whereas pageants elsewhere are more popular and lucrative than ever.

” Historically, beauty pageants have been an amazing tool for social mobility for women,” says Prof Friedman.

” Apart from the prestige and the glory, it gives you a platform to attract followers and sponsorships. When there’s money involved, the stakes are higher.”

For Ms Prasad though, it turns out there is a happy ending.

She claimed on one of her social media accounts on Friday that she had indeed been re-crowned Miss Fiji 2024.

” What an incredible journey this has been,” she wrote on Instagram.

Miss Universe Organization ( MUO) has not responded to a request for comment, but the BBC is aware of its extreme dissatisfaction with the events in Fiji and has worked diligently to reinstate Ms. Prasad as island’s queen after establishing the facts.

For Ms Prasad there is elation. For the judges, relief.

As for Ms Roberts, she is calling herself the” real Miss Universe Fiji 2024 “on Instagram.

Judge Ms White says she’s” so proud of how Manshika]Prasad ] has conducted herself throughout this journey. She’s a brilliant, compassionate, and beautiful young woman, who did n’t deserve this.

” We merely desired the truth to be revealed, and it has now.”

Continue Reading

Huawei struggling to make enough chips for Mate70 – Asia Times

Huawei Technologies, a Shenzhen-based communications producer, is apparently struggling to secure adequate high-end cards for the next edition of its Mate70 premier smartphone, the latest outcome in the US-initiated device war on China. &nbsp,

According to The Information, Huawei and its local chip-making partner Semiconductor Manufacturing International Corp ( SMIC ), both sanctioned by the US, planned to produce 2.5 million chips before releasing the Mate70 for a September product launch, but the goal was met due to limited manufacturing capacity and productivity issues, The Information reported. &nbsp,

According to the Information Report, the” continuing influence of a four-year-old US restrictions on the source of chip manufacturing equipment to Huawei and SMIC” is the root cause of the missed goal.

Huawei would release the Mate70 smartphone in China on September 10, a moment after Apple Inc. unveiled the iPhone16 in the US on September 9. However, according to Chinese media, the Mate70 smartphone is then anticipated to be released in November. &nbsp,

Huawei properly still choose to showcase its Mate70 the following week, according to The Information, but only a select few phones will be made quickly available for purchase. &nbsp,

It stated that the company would allow users to pre-order and waited for delivery, a policy similar to the one used to build the Mate60 Pro in late August while US Commerce Secretary Gina Raimondo was in Beijing.

In September 2023, Raimondo, the prospect US national behind the device war, said she was “upset” by the release of Mate60 Pro, which is powered by 7nm Kirin 9000s bits and showed China had found alternatives on US high-end device restrictions.

She claimed at a hearing in the US House of Representatives that her team had no idea that China could produce 7nm cards at the range. Last October, she told the Senate that the launch of Mate60 Pro was “incredibly disturbing” .&nbsp,

If the Mate70 is actually launched in November, Raimondo might not have to deal with legislative scrutiny before the US national elections on November 5. &nbsp,

Chinese IT websites reported on Thursday ( September 5 ) that Huawei will unveil the world’s first triple-fold smartphone, known as Mate XT, at a marketing event on September 10. They said the long-awaited Mate70 or Mate70 RS will not be unveiled at the occasion. &nbsp,

Cailian Press, a Chinese economic media company, reported citing unnamed resources on August 28 that Huawei will release the Mate 70 in November. The smartphone may use a fresh Kirin computer and HarmonyOS NEXT, an Android operating system developed by Huawei without the use of Android code, according to the statement. &nbsp,

The Mate70 is anticipated to use a 7nm device known as Kirin 9100, according to popular belief. &nbsp,

A Guangdong-based IT columnist&nbsp, says&nbsp, there are several types of Kirin 9100, but even the lowest-end another has a performance relative to Qualcomm’s Android 8 Gen 1 computer. The blogger asserts that the Kirin 9100 can produce video smoothness comparable to that of the Snapdragon 8 Gen 2 and 3 chips.

Minimal production capacity

Since 2019, the US has asked ASML, the world’s largest chip equipment supplier based in the Netherlands, to stop shipping extreme-ultraviolet ( EUV) lithography machines to China. In a single exposure, EUV lithography can produce 2-3nm chips in various exposures, and 7nm chips can be produced in one.

A team led by Liang Mong-Song, managing director of SMIC and a former engineer at TSMC and Samsung, later successfully made 7nm chips using deep-ultraviolet ( DUV) lithography machines and multiple exposure techniques. &nbsp,

In June this year, The Data reported that Huawei had faced roadblocks in manufacturing its Ascend 910B, a 7nm device that is said to be equal to 80 % of Nvidia’s A100 in terms of AI-training performance. It said the situation was a result of the US Commerce Department’s device trade controls. &nbsp,

But, a calculation made by Asia Times using common figures&nbsp, showed&nbsp, that Huawei is also simply end its goal of making 400, 000 to 500, 000 Ascend 910B chips&nbsp, this time even if its supply is as low as 20 %. In case Huawei needs more capacity to make AI chips, it can reduce the production of HiSilicon’s Kirin chips.

Whether Huawei and SMIC have slowed the development of Kirin chips to accommodate Ascend 910B is still undetermined. &nbsp,

Despite a difference in yield, SMIC’s capabilities are only three years behind TSMC’s, based on the performance of the Chinese chips that were shipped, according to Hiroharu Shimizu, CEO of Tokyo-based TechanaLye, a semiconductor research company that disassembles and analyzes 100 electronic devices a year.

Shimizu told Nikkei in an interview last month that HiSilicon’s design capabilities have also improved, given that its 7nm chips perform comparable to TSMC’s 5nm products. &nbsp,

More chip export rules

The Dutch government has stopped granting ASML licenses to export to China its NXT: 2000i and subsequent DUV immersion systems since the start of this year. &nbsp,

The Dutch government announced on Friday that ASML will need to submit an application for export licenses with it rather than the US government for shipments of its vintage DUV immersion lithography machines, NXT: 1970i and 1980i, respectively. The new rule will become effective on September 7.

” I am making this decision for our security. When exporting this particular production equipment, we observe that technological advancements present greater safety risks. Dutch Foreign Trade Minister Reinette Klever stated in a statement released on Friday, particularly in the current geopolitical climate.

” The Netherlands has a unique and leading position. That comes with a responsibility that we must take seriously”, he said. &nbsp,

Klever noted that the expansion of the licensing requirement affects specific equipment that is only produced by a select few businesses in the Netherlands. The company licensing requirement “requires a small portion of the total product portfolio of the companies that fall under this scheme.”

The updated license requirement, according to ASML, is only a technical change intended to “harmonize the approach for issuing export licenses.” China may fall under this new rule, according to some media reports, adding that the Hague will evaluate export license applications “on a case-by-case basis.” &nbsp,

38 country coalition

On Thursday, the US Commerce Department’s Bureau of Industry and Security ( BIS ) announced new export controls on quantum computers, advanced chip-making equipment and Gate All-Around Field-Effect Transistor ( GAAFET ) technology that can be used to make chips for supercomputers.

The BIS stated in a press release that it has worked diligently to establish relationships with like-minded nations abroad and to form a 38-country coalition to improve the impact of export controls on degrading Russian military capabilities and its supporters, including Belarus and Iran. &nbsp,

China is not mentioned in the press release, but it appears that all curbs point to it. On Friday, Mao Ning, a representative of the Chinese Foreign Ministry, criticized the US for politicizing and stifling economic issues and stumbling upon global supply chains. &nbsp, &nbsp,

Read: China threatens chip war retaliation against Dutch, Japanese

Follow Jeff Pao on X: &nbsp, @jeffpao3

Continue Reading